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The state Office of Energy Resources is looking for comments on its plans for spending several million dollars it receives each year through its innovative auction of carbon credits that began last fall with the Regional Greenhouse Gas Initiative.
The state received about $2.5 million in auctions last fall. If prices remain about the same, the state could receive another $5 million to $6 million in four auctions this year.
Starting Jan. 1, power plants in the 10-state RGGI cooperative must have allowances or credits for each ton of carbon they emit. In the last two auctions, all the credits were sold. In the December auction, the price was $3.38 per allowance. It raised $106.5 million, which was distributed to the cooperating states. The program may change because there are strong indications that the Obama administration wants a national cap and trade program.
According to the plan announced last week by Andy Dzykewicz, commissioner of the state Office of Energy Resources, here is how the proceeds will be spent:
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on Mar 8th, 2009
@ 11:23 pm:
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