NY Regulators Seek California’s Guidance on Cap-and-Invest Plan

As New York state regulators set out designing an ambitious cap-and-invest program, they sought guidance from a California official on Thursday about how the Golden State was able to design and execute a similar program.

The questions posed by the unnamed New York officials shed some light on the factors they’re considering as they craft their program, as well as possible paths forward, given that California’s program has outperformed its targets by so much that it was adjusted in 2021 to be twice as tough.

New York’s program will establish a declining cap on carbon emissions and is seen as ...