The Regional Greenhouse Gas Initiative, Inc. is a non-profit that supports the development and implementation of the 10 participating states’ CO2 Budget Trading Program (Connecticut is one of those states). The initiative released a report on what those 10 states are doing with the CO2 allowance auctions proceeds.
The Regional Greenhouse Gas Initiative is an agreement between the 10 states to reduce the amount of CO2 their power plants emit through a “cap and trade” program.
Connecticut generated $45 million through the CO2 allowance auction in 2010. The proceeds helped fund utility-administered energy efficiency programs which were overseen by the Energy Conservation Management Board. The steps are projected to save consumers $744 million over the lifetime of the measures.
The other states, which are made up of the rest of New England, Delaware, Maryland, New Jersey, and New York, are using their proceeds to fund research on clean energy generation and greenhouse gas emissions reductions and to help low-income families pay for their energy needs.
