RGGI auction

You might not have heard much about it, but 10 Northeastern states last week auctioned off rights to pollute the air.

Here it is from the AP:

ALBANY, N.Y. (AP) — Power companies were the biggest spenders in the nation's first cap-and-trade greenhouse gas auction, raising nearly $40 million that will be spent by Northeast states on renewable and energy efficient technologies.

All fossil fuel-burning power plants in a 10-state region were required to buy credits to cover the carbon they emit. The results of the auction were released Monday.

The Regional Greenhouse Gas Initiative is viewed as a possible model for a national program to reduce emissions of carbon dioxide.

Energy, financial and environmental interests paid $3.07 per allotted ton of emissions, about 65 percent more than the minimum set price of $1.86.

The 10-state RGGI consortium includes Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont. ...

No comment right now. But this is one of those things that gets lost in the news when other events such as financial meltdowns and presidential debates are all over the place.