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RGGI Form MV 3 1C Independent Verifier Certification Statement and Report Regional Greenhouse Gas Initiative Eligible Offset for
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People also ask
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What is the RGGI model rule?
Through statutes or regulations based on the RGGI Model Rule, each state has established individual CO2 Budget Trading Programs based upon its own statutory or regulatory authority. Together, these compose a regional cap and market for allowances. -
How much is the RGGI CCR?
Cost Containment Reserve The CCR is replenished at the start of each calendar year. The CCR trigger price is $14.88 in 2023 and will increase by 7% per year thereafter. -
What are the requirements for RGGI?
Under each RGGI state's CO2 Budget Trading Program, a source (a power plant with at least one unit serving a generator with capacity 25MW* or greater located within the RGGI participating states) is required to possess CO2 allowances equal to their CO2 emissions over a three-year control period. -
What can RGGI funds be used for?
Proceeds were invested in programs including energy efficiency, clean and renewable energy, beneficial electrification, greenhouse gas abatement and climate change adaptation, and direct bill assistance. -
What can RGGI funds be used for?
Proceeds were invested in programs including energy efficiency, clean and renewable energy, beneficial electrification, greenhouse gas abatement and climate change adaptation, and direct bill assistance. -
What is a RGGI allowance?
RGGI is a market-based cap-and-invest initiative. Within the RGGI states, regulated power plants must acquire one RGGI CO2 allowance for every short ton of CO2 they emit. The RGGI states distribute allowances at quarterly auctions, where they can be purchased by power plants and other entities. -
What are the requirements for RGGI?
Under each RGGI state's CO2 Budget Trading Program, a source (a power plant with at least one unit serving a generator with capacity 25MW* or greater located within the RGGI participating states) is required to possess CO2 allowances equal to their CO2 emissions over a three-year control period. -
What is RGGI and how does it work?
RGGI requires fossil fuel power plants with capacity greater than 25 megawatts to obtain an allowance for each ton of carbon dioxide they emit annually. Power plants within the region may comply by purchasing allowances from quarterly auctions, other generators within the region, or offset projects. -
What states are participating in the RGGI?
RGGI is a cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont, and Virginia to cap and reduce carbon dioxide (CO2) emissions from the power sector. -
Who does RGGI apply to?
The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, and Virginia to cap and reduce power sector CO2 emissions. -
How much is RGGI carbon in 2023?
The latest Regional Greenhouse Gas Initiative (RGGI) quarterly auction, held September 6, 2023, resulted in a clearing price of $13.85 per ton for CO2 emissions allowances, surpassing the previous quarter's clearing price by 9% and nearing the record price, $13.90 per ton, set in March 2022.
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