Latest RGGI auction nets ME $1.7M
The state will receive more than $1.7 million from the ninth Regional Greenhouse Gas Initiative auction, held earlier this month.
Maine will earn $1,739,963 from the Sept. 8 auction of carbon credits, part of a regional cap-and-trade program to regulate greenhouse gas emissions, according to a press release from the Maine Public Utilities Commission. The money will fund energy-efficiency programs in the state. In total, the auction yielded nearly $64 million for the 10 states that participate in the RGGI auctions. More than 34 million carbon allowances for 2009-2011 were offered at the auction for a price of $1.86, and more than 75% were sold. The auction also sold 1.3 million credits for 2012-2014 for the same price.
RGGI auctions began in September 2008, and so far have netted more than $729 million for the region. Maine's share of that is $22.2 million, $7.1 million of which has funded 19 projects through the state's Industrial Energy Efficiency Grant Program, which has provided grants between $100,000 and $1 million to a total of 36 large-scale projects, according to the release.
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