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Environment & Energy Report

Northeast Carbon Auction Helps States Buffer Virus Hit to Budget

Dec. 4, 2020, 7:05 PM

Ten Northeastern states will divide up $120.3 million to reinvest in energy efficiency and renewable programs from proceeds of an auction aimed at capping carbon dioxide emissions.

The auction by the Regional Greenhouse Gas Initiative, RGGI, a multi-state cap-and-trade program, sold carbon allowances for $7.41 in the final quarter of this year, an 8.65% increase over the prior quarter, according to results released Friday.

The funds can be used for strategic programs including direct bill assistance, energy efficiency renewable energy, and greenhouse gas abatement. Participating partner states are Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, New Jersey,...

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