Latest RGGI Auction Brings $64M
Massachusetts and the nine other northeastern states that participate in the Regional Greenhouse Gas Initiative participated in an auction Wednesday that marked the second anniversary of the RGGI program.
Phil Giudice, commissioner of the state Department of Energy Resources, said energy efficiency programs funded in part by proceeds from RGGI auctions will generate about $6 billion in consumer energy savings in the state over the next three years while helping to avoid 15 million tons of carbon dioxide pollution in the state.
The RGGI is a cap-and-trade program to reduce greenhouse gas emissions.
Wednesday's auction yielded $64 million from the sale of 34 million carbon allowances. Electricity generators purchased 92 percent of the allowances sold.
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