Climate Change John Sherwell PPRP. Two major initiatives 1 – RGGI // All NE states except PA...
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Transcript of Climate Change John Sherwell PPRP. Two major initiatives 1 – RGGI // All NE states except PA...
Two major initiatives
1 – RGGI http://www.rggi.org/ • All NE states except PA• Component of the HAA• Affects fossil generating units >25MW• A cap-and-trade program• Stabilize emissions at current levels from 2009
through 2015, • then to achieve a 10% reduction in emissions by
2019.
Compliance
• Own allowances to cover emissions
• Reduce emissions
• Credits from offset projects
State Emissions Cap (Tons CO2)
CT 10,695,036
DE 7,559,787
MA 26,660,204
ME 5,948,902
NH 8,620,460
NJ 22,892,730
NY 64,310,805
RI 2,659,239
MD 37,505,984
TOTAL 188,078,977
RGGI Inventory
Each state sets fraction to auction (>25%)MD ~100% allowance auction Allocations for
new generationeconomics [PPA terms]renewables
Owning allowances
Four RGGI-wide auctions/year (2 in 2008)First auction announced – Sep 25
2009 compliance year allowancesReserve price $1.8612,565,387 allowances on auctionMD placed 5,331,781 allowances on auctionNot all states are participating – regs not in placeMD regs final
authorize: trading program, auction Next auction in Dec
Auctions
Uniform price, sealed bid, one round formatBids are in blocks of 1,000 allowancesCan’t bid for more than 25% of allowances
Demand < supplyAllowances sell at reserve price
Demand > supplyAllowances sell at marginal price
MEA recipient of MD net revenues
Auctions
Emission Reductions
• Credits for early reductions
Switching from oil to gas – summertime
• Biofuels
Biodiesel in CTs
Other biomass co-firing
Offsets
RGGI compliance offsets currently limited to: Landfill methane capture and destruction; Reduction in emissions of sulfur hexafluoride (SF6); Sequestration of carbon due to afforestation; Reduction or avoidance of CO2 emissions from
natural gas, oil, or propane end-use combustion due to end-use energy efficiency; and
Avoided methane emissions from agricultural manure management operations.
2 - Maryland Commission on Climate Change
• Formed April 20, 2007 by Executive order of Governor O’Malley
• At a minimum reduce GHG emissions– To 1990 levels in 2020– 80% from 2006 levels by 2050
• Working groups formed for planning
Two major initiatives
Working Groups
• Scientific and Technical – UM lead
• Greenhouse Gas and Carbon Mitigation– MDE lead
• Agriculture, Forestry and Waste Management • Cross Cutting • Energy Supply • Residential, Commercial and Industrial • Transportation and Land Use
• Adaptation and Response– DNR lead
• Existing Built Environment and Infrastructure • Future Built Environment and Infrastructure • Resource and Resource-based Industries • Human Health, Safety and Welfare
2-Phase Approach
• Phase 1 – develop policy options– Report delivered the Office of the Governor– Coming soon to a website near you
• (http://www.mdclimatechange.us/)
• Phase 2 – develop implementation plans– Agencies develop plans early 2009