4th RGGI Auction Yields $104 Million For Investments

The states participating in the first-in-the-nation cap-and-trade system for greenhouse gases conducted their fourth regional auction of carbon allowances Wednesday, June 17th, raising $104.2 million for investment in the clean energy economy. Under the Regional Greenhouse Gas Initiative (RGGI), these ten partnering states hold quarterly allowance auctions and invest the proceeds in energy efficiency, renewable energy and other programs that benefit energy consumers and create green jobs. All of the 30,887,620 allowances for the 2009 vintage offered in Wednesday’s auction sold at a price of $3.23.

Potomac Economics, the RGGI independent market monitor, found participation in the 2009 offering to be robust with 54 separate entities submitting bids to purchase 2.6 times the available supply of 2009 allowances. Compliance entities and their affiliates purchased 85 percent of the 2009 allowances offered.

In a parallel offering, the RGGI states also auctioned allowances for the second three-year control period beginning January 1, 2012. All of the 2,172,540 allowances for the 2012 vintage sold at a price of $2.06 with 13 entities submitting bids to purchase 1.5 times the available supply of 2012 allowances. Compliance entities and their affiliates purchased 81 percent of the 2012 allowances offered.

The states have now auctioned more than 110 million allowances and raised a total of $366.5 million since the first RGGI auction in September of 2008. The states are investing RGGI proceeds in energy efficiency, renewable energy, technology development and other consumer benefit programs. Overall, the states are investing the vast majority of proceeds in energy efficiency and renewable energy. Across the region, state energy efficiency programs are engaging municipalities, electric utilities, homeowners, businesses and not-for-profit organizations. Funds are being used to weatherize low-income homes, hire and train energy efficiency auditors, deploy combined heat and power and district heating and cooling systems, subsidize energy efficiency improvements for small businesses, educate contractors about energy efficiency and other initiatives.

The complete Market Monitor Report for Auction 4

Heather Jones New Resident Inspector at Vermont Yankee

Nuclear Regulatory Commission officials in King of Prussia, Pennsylvania have selected Heather Jones, right, as the new resident inspector at the Vermont Yankee nuclear power plant in Vernon, Vt. She joins NRC Acting Senior Resident Inspector Dave Spindler at the plant, which is operated by Entergy Nuclear Operations, Inc.

Jones joined the agency’s Region I office in 2005 after earning a bachelor’s degree in chemical engineering from the University of Arizona and a master’s degree in chemical engineering from the University of Pittsburgh. She is a graduate of the NRC’s Nuclear Safety Professional Development Program, a two-year training program that provides specialized training in nuclear safety and a broad perspective of NRC regulatory activities. Jones also completed a rigorous NRC inspector qualification program. Most recently, she was assigned as a reactor inspector in the Region I Division of Reactor Safety, performing engineering inspections.

Each U.S. commercial nuclear plant has at least two NRC resident inspectors. They serve as the agency's eyes and ears at the facility, conducting inspections, monitoring major work projects and interacting with plant workers and the public. Resident Inspectors can be assigned to any one site for up to seven years. (NRC)

Governor Patterson Proposes Energy Lesiglation

Governor David Paterson, right, is proposing energy legislation to:

1) Extend the Power for Jobs program that expires this month. The program is supposed to provide lower cost energy to companies that retain and create jobs.

2) Allow the New York Power Authority to provide energy efficiency services to local governments.

3) Authorize the start of a pilot project to collect carbon dioxide from smoke stacks and shoot it deep into the ground for storage as part of his "Jamestown Project." The Jamestown Project was first announced a year ago. Now Paterson wants the Legislature to authorize a demonstration project in the city in southwestern New York.

The Legislature session ends June 22. (Newsday.com, 6/4/09)

AAEA Registered to Participate in RGGI Offset Program

AAEA has registered to participate in the Regional Greenhouse Gas Initiative (RGGI) offset program. AAEA established a Carbon Mercantile Exchange (CMX) to provide an offset trading service. AAEA is also developing projects to produce greenhouse gas offsets. Our participation in the RGGI offset program will serve to enhance our efforts to mitigate global climate change and warming.

Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) has contracted with Perrin Quarles Associates to administer RGGI COATS. The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort by participating states to reduce emissions of carbon dioxide (CO2), a greenhouse gas that causes global warming. More information RGGI, Inc. is a non-profit corporation created to provide technical and administrative services to the CO2 Budget Trading Programs of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont.