RGGI in 2019 Track Record and Outlook

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Presentation transcript:

RGGI in 2019 Track Record and Outlook www.rggi.org

The RGGI States ME VT NH NY MA CT RI PA NJ OH MD DE WV VA www.rggi.org

RGGI Structure Reduce emissions in power sector Using auctions fungibility, bankability, and tradable 25 MW or greater Regional cap of 80.2 million allowances in 2019 LTD - $3 Billion in proceeds www.rggi.org

Program Review Importance of regular program review Improvements announced in 2017 30% decline in the RGGI cap ECR CCR Bank adjustment www.rggi.org

RGGI Takeaways Expect the Unexpected Auctioning/investment over free allocation Consensus, bipartisanship Constancy of Purpose www.rggi.org

States’ Track Record Over 50% reduction in CO2 since 2005 www.rggi.org

Reinvestment of Proceeds Cumulative Investments through 2016 www.rggi.org

States’ Track Record 2005 2017 www.rggi.org

States’ Track Record www.rggi.org

The RGGI States 2016 CO2 Emissions by Sector United States RGGI States www.rggi.org

Economic Benefits Analysis Group studied each RGGI control period Years 2015-2017 $1.3 billion in net economic benefit 14,200 additional job-years $460 million in energy bill savings All-time Net economic benefits on the order of $4 billion Tens of thousands of additional job-years www.rggi.org

Public Health Benefits Abt Associates conducted report in 2017 Findings of RGGI’s benefits included: 300 to 830 lives saved; More than 8,200 asthma attacks avoided; 39,000 lost work days averted; and $5.7 billion in health savings and other benefits. www.rggi.org

Looking Ahead Virginia, New Jersey in process of enacting rules to participate RGGI as a model Innovative ways to manage supply and demand Informative to other states, countries, sectors www.rggi.org

Thank you! www.rggi.org