Carbon Auction Puts $13.3M Into State Energy Programs
Massachusetts came away from the first Regional Greenhouse Gas Initiative auction of carbon emissions allowances with a cool $13.3 million that will be used for winter energy efficiency programs.
Gov. Deval Patrick's office said the state's $13.3 million will be used to help municipalities become more energy efficient and "help consumers reduce their energy bills."
Patrick's office said $3.5 million would go toward energy efficiency programs being undertaken by the state's electricity and natural gas utility companies. The state Department of Public Utilities plans to put $7 million into the same effort.
Another $5 million will launch the state's Green Communities program, a package of grants and incentives for municipal efficiency and renewable energy efforts.
Once the state's winter energy costs task force releases its report in early October, $4.3 million will be put into any efficiency and conservation efforts it recommends.
The final $500,000 will cover the state's administrative and vendor costs associated with participation in the RGGI auction.
A second RGGI auction is scheduled for Dec. 17. Patrick's office said the state would spend proceeds from that auction on similar efforts.
According to RGGI, 12.6 million carbon allowances were sold at $3.07 each during Thursday's auction. The RGGI auction, which was held online, raised a total of $38.6 million for Massachusetts and the five other auction participants: Connecticut, Maine, Maryland and Rhode Island and Vermont, according to New York-based RGGI Inc. Delaware, Maine, New Jersey and New York are also RGGI states and participate in a cap-and-trade system for reducing greenhouse gas emissions.
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