December 14, 2011
WorldEnergy RGGI Auction Nets $51.5M
By Brandon Butler
An auction run by Worcester-based World Energy Solutions for carbon emissions related to the Regional Greenhouse Gas Initiative (RGGI) netted $51.5 million, the company announced.
Power-generation facilities are required to purchase carbon emission allowances based on the "cap and trade" system that 10 states along the East Coast participate in. The $51.5 million will be distributed among those states.
To date, RGGI has raised $952 million in proceeds, which included the 14th quarterly auction held Dec. 7.
Read more about World Energy here and RGGI here.
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