Governor Lynch today signed into law a landmark 10-state program, known as
the Regional Greenhouse Gas Initiative (RGGI), to cut greenhouse gas emissions
from power plants throughout the region. The bill allows New
Hampshire to join other New England states, New
Jersey, New York, Delaware and Maryland
in a market-based, cap and trade program to reduce regional emissions by ten
percent over the next ten years.
“With no strong federal climate legislation moving forward
this year, RGGI is an important next step for New Hampshire in addressing global warming
emissions from the state’s power sector,” said Erika Staaf, Advocate for
Environment New Hampshire. “Environment New
Hampshire applauds Gov. Lynch for supporting this
initiative, which will help to pave the way for future efforts to control
global warming emissions at the federal level.”
Under the program, fossil fuel-fired power plants will be
required to meet a limit (cap) on emissions and then will be able to purchase
permits (allowances) across state lines to equal the tons of CO2 allowed by the
cap. The money that utilities will pay for these allowances will be pooled in a
state-regulated fund to improve energy efficiency programs. Above a certain threshold price, which will
begin at $6 per allowance and ratchet up over time, money from the sale of
allowances will go back to ratepayers.
“The more money we can pour into energy efficiency and
conservation efforts today, the greater the payback will be in the future,”
said Staaf. “Addressing greenhouse gas emissions today is also critical for
minimizing the negative impacts that global warming will have on our state’s
economy and way of life for future generations.”
“Now, New
Hampshire needs to take the next step by tackling the
transportation sector. By replacing cars and trucks currently on the road with
low-emission, fuel efficient models, reinvigorating public transportation
throughout the state, and focusing on walkable, livable downtowns, New Hampshire will be
taking more momentous steps toward stopping global warming.”
