LePage eyes RGGI funds for conversion program
As stricter regional emissions limits await approval in Maine, Gov. Paul LePage says he wants to use proceeds from an existing cap-and-trade program to lower residential and business energy bills, according to the Bangor Daily News.
Last week, members of the regional cap-and-trade program known as the Regional Greenhouse Gas Initiative agreed to cut the region's carbon emissions by 45%.
LePage says he wants to use proceeds from the program, which auctions carbon emission allowances to power generators, to create a rebate program to help low-income residents convert oil heating systems to wood pellet, natural gas or propane systems.
Any remaining auction proceeds would directly fund lowering electricity rates for businesses, the paper reported.
The program directs auction proceeds to renewable energy technologies and energy efficiency as well as lowering energy bills and creating a more reliable energy grid.
Patrick Woodcock, director of the Governor's Energy Office, told the paper that the carbon auctions have generated about $4.5 million in past years. If reduced emissions limits are approved, he expects that amount could be doubled.
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