Regional Greenhouse Gas Initiative (RGGI) Evidence
05/13/2011
Environment Northeast. March 2010.
“RGGI Benefits to Date for Massachusetts Electricity Consumers” shows that electricity costs in Massachusetts have actually fallen since the implementation of the RGGI program. The program has raised $55.7 million for investment in energy efficiency programs that cut costs and create jobs (2, 418 of them in 2009 alone).
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03/16/2011
Eric de Place. Grist. March 16, 2011.
“Regional cap-and-trade saves jobs and money” analyzes the contents of a recent RGGI press release, which trumpets the program’s most recent carbon auction (bringing in $83 million). Most of the money was spent on energy efficiency or job retention and creation programs. Specific states examples are given, with specific cost savings and job creation and retention numbers listed.
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02/01/2011
Ross Gittell. Carbon Solutions. February 2011.
“Overview of NH RGGI Results for 2009 & 2010” finds that the “economic impact” of New Hampshire’s participation in the RGGI program has been overwhelming positive. The study finds that NH’s overall position in the national economy was not harmed by participation. “RGGI did not harm NH’s overall economic competitiveness” and no major employer has left the state as a result.
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03/23/2010
Sean Pool. Climate Progress. March 23, 2010.
"The Proof is in the Pudding" provides a thorough introduction to the largest carbon pricing system currently operating in the U.S. The northeastern Regional Greenhouse Gas Initiative (RGGI). Pool notes that RGGI’s current carbon price is too low to dramatically affect regional energy habits. Low prices do little to steer industry away from status quo dirty energy sources, while limiting clean energy investment opportunities. But even the relatively small amount of revenue generated by the auctions ($583 million at publication) allows for expanded government investment.
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02/01/2010
Environmental Northeast. February 2010.
“RGGI At One Year” evaluates the Regional Greenhouse Gas Initiative (the first carbon cap-and-trade program in the U.S.). The authors provide a series of grades for the policy’s first year in action. Five features of the program are graded: Auctions, Funding, Implementation, Offsets, Cap Level, and Governance. The study finds that the program has been very successful (with minimal effects on consumer prices thus far). But regional emissions dropped 25-35 percent in 2009 (partially due to the recession), further proving the program’s success.
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11/12/2009
Eric de Place. Sightline Daily. November 12, 2009.
“How Carbon Markets Work in RGGI” breaks down a recent study by Potomac Economics (PE), which shows that RGGI has been well run and, as a result, has functioned quite well too (“we find no evidence of anticompetitive conduct”). The PE report is really deep in the weeds, and it helps to have a readable expert walk the audience through the highlights.
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