1. RGGI in 2019 Track Record and Outlook

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

3. 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

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

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

6. States’ Track Record
Over 50% reduction in CO2 since 2005

7. Reinvestment of Proceeds
Cumulative Investments through 2016

8. States’ Track Record
2005
2017

9. States’ Track Record

10. The RGGI States 2016 CO2 Emissions by Sector United States RGGI States

11. Economic Benefits Analysis Group studied each RGGI control period
Years
$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

12. 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.

13. 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

14. Thank you!