The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort by eleven Northeast and Mid-Atlantic states to limit greenhouse gas emissions from electricity generation. Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont, and Virginia are implementing the first mandatory cap-and-trade program in the United States to reduce greenhouse gas emissions.
Through independent rules and/or regulations (based on the RGGI "Model Rule") each state limits emissions of CO2 from electric power plants, creates CO2 allowances, and establishes participation in CO2 allowance auctions. The regulations apply to fossil fuel-fired electric generating units that have with a nameplate capacity of 25 megawatts or greater (15MW or greater in NY). Regulated power plants may use a CO2 allowance issued by any of the participating states to demonstrate compliance with an individual state program.
In addition, CO2 offset allowances may be used to demonstrate compliance. A RGGI CO2 offset allowance represents a project-based greenhouse gas emission reduction outside of the capped electric power generation sector. At this time, the Vermont CO2 Budget Trading Program includes following three project types:
- Avoided methane emissons from agricultural manure management;
- Landfill methane capture and destruction; and
- Sequestration of carbon as a result of reforestation, improved forest management, or avoided forest conversion.
Vermont CO2 Budget Trading Program Documents
- Vermont CO2 Budget Trading Program Regulations (effective September 15, 2018)
- Vermont Public Utilities Commission Docket 18-4145-INV Order Implementing Auction Procedures (January 10, 2019)
- Procedure for the Vermont CO2 Budget Trading Program Allowance Budget Adjustments and Price Control Measures (effective December 6, 2018)
- For Project Sponsors
- Consistency Applications - e-mail email@example.com
- For Offset Verifiers
- For Project Sponsors
RGGI Program Review 2016-2017
RGGI Model Rule Updates - September 2017
Vermont CO2 Budget Trading Regulations Stakeholder Information Session March 22, 2018
More information about RGGI, the participating states, CO2 allowance auctions, emissions, offsets and the 2016 Program Review is available at: http://www.rggi.org/