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Sat07122014

North Caucasus hydropower to increase with three new projects from RusHydro

North Caucasus hydropower to increase with three new projects from RusHydro

Three small hydropower plants developed by RusHydroare set to begin construction...

Discrediting advertisements on carbon pollution standards outrages organizations

Discrediting advertisements on carbon pollution standards outrages organizations

The Natural Resources Defense Council, and more than two dozen organizations, is...

Supercritical steam for super productive solar thermal plants

Supercritical steam for super productive solar thermal plants

By using supercritical steam, solar thermal power plants could produce enough en...

Nepal gets first wind-solar hybrid system

Nepal gets first wind-solar hybrid system

The Asian Development Bank has handed over the country’s very first wind-solar h...

Unsustainable urban life: What's next?

Unsustainable urban life: What's next?

Nutrition plays a critical role in everyone’s chance at a better future. Hunger...

Chile’s largest solar power project officially open

Chile’s largest solar power project officially open

The 100 megawatt Amanercer Solar CAP Power plant in Chile has been officially op...

Five gigantic things happening in sustainability

Five gigantic things happening in sustainability

Understanding this mainly becoming typical ‘S’ word has always been part of the ...

Business

The Bioplastics industry in Korea – Where to next?

The Bioplastics industry in Korea – Where to next?

Thursday, 10 July 2014

The global bioplastics market is booming – total production capacity is set to grow 400% by 2017, and the European Commission has designatedbioplastic...

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Technology

Politics

Living Green

Elemooni: Eco-friendliness for kids

Elemooni: Eco-friendliness for kids

Thursday, 10 July 2014

A new group of nano explorers could change the way children learn about positive values, the environment, and believe it or not, the periodic table of...

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Renewables

Siemens welcomes Crown Estate’s new seabed rights for wave and tidal power

Siemens welcomes Crown Estate’s new seabed rights for wave and tidal power

Thursday, 10 July 2014

Siemens welcomes The Crown Estate’s announcement of agreed seabed rights for new demonstration zones and project sites around the United Kingdom’s coa...

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Low-Carbon

Opinion

Unsustainable urban life: What's next?

Unsustainable urban life: What's next?

Wednesday, 11 June 2014

Nutrition plays a critical role in everyone’s chance at a better future. Hunger, said Benjamin Franklin once, is the best pickle. Some say “pickle”...

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R.G.G.I. carbon auction fetches $42 million; 38% remains unsold

The nine states participating in the Regional Greenhouse Gas Initiative accumulated a total of $41.6 million in proceeds from the program's 15th quarterly auction of carbon dioxide allowances.

More than half, 62 percent, of the 34,843,858 allowances offered for sale were sold for bids from $1.93 to $5.35 per allowance. The proceeds will be used by the participating states for energy efficiency and renewable energy programs.

R.G.G.I. is the first mandatory, market-based carbon dioxide emissions reduction program in the United States, participated in by Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.

The participating states have determined to reduce their power sector carbon dioxide emission by 10 percent by 2018. To do this, they each have an individual Carbon Dioxide Budget Trading Program which limits the emissions of carbon dioxide from fossil fuel-fired power plants with a generation capacity of 25 megawatts or more.

Alongside the caps each state puts on its power plants, they also issue carbon dioxide allowances that the power plants can buy during the quarterly auctions to allow them to meet their emission limits.

The allowances represent 1 short ton of carbon pollution with the total amount of allowances sold not exceeding 188 million tons per year through 2014.

After 2014, the cap will be reduced gradually by 2.5 percent per year over four years to achieve the overall reduction target of 10 percent by 2018.

"R.G.G.I. investments keep $765 million in our states by reducing fossil fuel expenditures. At the same time, we are reducing harmful pollution. This double impact - of enhancing local economies and reducing emissions - is what makes R.G.G.I. so effective," said David Littell, a commissioner of the Maine Public Utilities Commission and vice chair of R.G.G.I., Inc.

While Mr. Littell and the program's supporters claim the program is fulfilling its mandate, a significant portion of the carbon allowances available at the auctions still remain unsold.

For this auction, 38 percent of the allowances generated remained unsold, continuing a trend that started on December 2011 when the 14th quarterly auction sold 27.3 million of the available 43 million allowances, leaving 37 percent unsold.

The next R.G.G.I. auction is scheduled for June 6, 2012. – Katrice R. Jalbuena



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