| Northeast Governors
Implement Greenhouse Gas Initiative
Seven northeastern states--Connecticut, Delaware, Maine, New Hampshire,
New Jersey, New York, and Vermont--announced last month an agreement to
implement the Regional Greenhouse Gas Initiative (RGGI). The RGGI will
regulate carbon dioxide emissions from fossil-fueled power plants. The governors of the seven states signed a Memorandum of Understanding (MOU) that sets a cap on each state's carbon dioxide emissions from 2009 through 2014, after which the emissions will decline 10 percent by 2019. The RGGI will allow trading of emissions credits to help achieve the caps. It also will allow credits for projects that capture and burn landfill methane and that promote end-use energy efficiency for natural gas, propane, and heating oil, as well as other related projects. According to the MOU, the participating states hope to become "world leaders in the creation, development and deployment of carbon emission control technologies, renewable energy supplies, energy-efficient technologies, and demand-side management practices." The states plan to release a draft Model Rule for public comment by March. The RGGI is expected to take effect January 1, 2009.
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