
Form MV 3 1D Independent Verifier Certification Statement and Report Regional Greenhouse Gas Initiative Eligible Offsets Project
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People also ask
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What is a RGGI allowance?
A RGGI CO2 offset allowance represents a project-based greenhouse gas emission reduction outside of the capped electric power generation sector.
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Is RGGI a carbon market?
The Regional Greenhouse Gas Initiative (RGGI) is a cooperative, market-based effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont to cap and reduce CO2 emissions from the power sector.
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Who benefits from RGGI?
Programs funded with RGGI investments have benefited local businesses, low-income communities, industrial facilities, and households throughout the region.
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How does RGGI auction work?
The RGGI states distribute allowances at quarterly auctions, where they can be purchased by power plants and other entities. Some states hold a limited number of allowances in set-aside accounts to sell at a fixed price or otherwise distribute outside of the auction process.
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What are the requirements for RGGI?
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.
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How does RGGI work?
Facilities that emit CO2 must buy allowances that equal their emissions. The RGGI states sell allowances and invest the funds from these sales into energy efficiency improvements, clean energy, bill assistance, and other programs to deliver benefits to their communities.
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