Environment Northeast released a report December 10 urging the nine states participating in the Regional Greenhouse Gas Initiative to adjust the emissions cap in 2014 to lock in the reductions that have already occurred since the program began in 2009. The report, RGGI’s Past and Future: Emissions Trends and Potential Reforms, concluded that 2012 CO2 emissions in the region will be about 45 percent below the original cap, and electricity prices have declined 10 percent since the first auction. The initiative is considering four options to lower the cap to 106 MMT, 101 MMT, 97 MMT, or 91 MMT, but since current emissions are just over 91 MMT, all but one would actually allow for an emissions increase.
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