Regional Greenhouse Gas Initiative (RGGI) - RGGI CO2 Budget Trading Programs

Overview

The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort to reduce carbon dioxide emissions from power plants by ten Northeastern and Mid-Atlantic States (Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont – the participating states) through the implementation by each participating state of a linked CO2 Budget Trading Program (in total, the state CO2 Budget Trading Programs). More details about the RGGI process that led to the development of the CO2 Budget Trading Program Model Rule, which is the basis for individual state regulations (or rule proposals, for participating states currently engaged in rulemaking), and the key elements of the program are available below.

>	Overview of RGGI CO2 Budget Trading Program (Pdf Format)

Implementation

As the state CO2 Budget Trading Programs are launched, this page will provide general information for regulated entities and the public about program implementation, as well as access to regional implementation platforms.

>	CO2 Allowance Auctions
>	CO2 Allowance Tracking System (RGGI-COATS)

The first compliance period for each of the 10 state CO2 Budget Trading Programs will begin on January 1, 2009. Two pre-compliance CO2 allowance auctions will be held in September and December 2008, prior to the start of the first compliance period, and CO2 allowance auctions will continue to be held quarterly going forward.

Administrative Support

Technical and administrative services to support the implementation of each participating state’s CO2 Budget Trading Program will be provided by Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.), a non-profit corporation created for this purpose. These support services include the administration of an emissions and allowance tracking system (RGGI CO2 Allowance Tracking System) and CO2 allowance auctions.

To support the state CO2 Budget Trading Programs, the participating states are implementing a regional auction platform to auction CO2 allowances. In addition, the participating states are implementing a regional platform to facilitate CO2 allowance awards and allocations by participating states, tracking of CO2 allowances, transfer of CO2 allowances among parties, tracking of reported CO2 emissions from affected sources and emissions source management, and tracking of offset project status and CO2 offset allowance awards by participating states.