U.S. Northeast Cap-and-Trade Group Plans Permit Reduction
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Regional Greenhouse Gas Initiative Inc., the nonprofit that administers the U.S. Northeast’s carbon-dioxide emissions program, proposed reducing the number of available permits by 45 percent to drive up prices.
Power plants in the nine states that participate in the program will be allowed to emit 91 million tons annually starting in 2014, down from 165 million tons this year, according to rules proposed in a statement today on RGGI’s website. The limit would fall another 2.5 percent a year from 2015 to 2020.