Bill signing: Suzanne with other RGGI sponsors and supporters witness Gov. Lynch signing the bill into law (click on photo to enlarge).New Hampshire was the last of 10 states to approve the Regional Greenhouse Gas Initiative (RGGI), a major program to reduce greenhouse gas in the northeast. Governor Lynch had initially signed the agreement but the legislature in our state needs to approve a governor's signing of any agreement with other states. Suzanne was a co-sponsor of this bill that successfully went through the House and Senate and was signed by the Governor in 2008. In addition to NH, the RGGI participants include NY, CT, DE, ME, NJ, VT, MD, MA and RI.
RGGI is a technically complicated "cap and trade" program to decrease carbon dioxide (CO2) emissions by placing a cap on how much CO2 power plants can emit "while maintaining energy affordability and reliability." RGGI will be a strong companion to NH's 2007 main environmental initiative, the Renewable Energy Act, to make NH a cleaner place to live and work.
RGGI allots each of the participating states a certain amount of allowable annual emissions, ie, tons of CO2, and in turn, the power plants that burn fossil fuel have a cap. Emitting less than the cap annually means the utility has extra "allowances" and can trade them in an auction. Using more than the power plant is allotted will necessitate purchasing allowances.
Click here for a full explanation at the official RGGI website.