Carbon cap reduced as regional emissions fall
New England states have agreed on lower carbon emissions limits for 2014 after carbon dioxide pollution declined faster than expected in the region.
The Associated Press reported the six-state Regional Greenhouse Gas Initiative set a limit of 91 million tons of carbon emission allowances for next year, down from 165 million tons in allowances this year. The group has outlined a plan to lower emissions by 2.5% annually from 2015 to 2020.
During the most recent auction in June, those allowances sold for $3.21 each, the AP reported, raising $124 million to fund energy efficiency programs, like the Efficiency Maine Trust.
David Littell, a member of the Maine Public Utilities Commission and organizer of the regional group, told the news service that factors outside of the cap-and-trade program have also helped lower emissions, like increased development of wind and hydro power, warm winters and cool summers that have curbed energy consumption and growing use of natural gas for generating electricity, which emits less carbon than coal.
The auction for the reduced number of carbon emission allowances will take place in September.
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