ENEP426 Chapter Notes - Chapter 1: New York Mercantile Exchange, Regional Greenhouse Gas Initiative, Intercontinental Exchange

• School: University of Delaware
• Department: Energy and Environmental Policy
• Course: ENEP426
• Professor: Scattone Raymond

Document Summary

Nation"s first mandatory market based program to reduce emissions of carbon dioxide. States participating have est a regional cap on carbon dioxide from power sector and requiring power plants to posses a tradeable carbon dioxide allowance for each ton of carbon dioxide they emit. Rggi reduces emissions through regional cap on amount of carbon dioxide that power plants can emit through issued limited number of tradable allowances. Market forces determine most economic means of reducing emissions and create market certainty needed to drive long term investments in clean energy. Lays foundation for north american carbon market. Carbon dioxide emission tracking system allows public to view customize and download reports of carbon dioxide allowance ,market activity and rggi program data. Rggi provides a model for other programs to reduce carbon dioxide emissions ; shows that reducing emissions can benefit environment and economy. Rggi carbon dioxide power sector have declined more than 40% since.