Northeast States Greenhouse Gas Initiative Goes Into Effect

The Regional Greenhouse Gas Initiative (RGGI), a coalition of 10 northeastern states, conducted its second auction of carbon dioxide emission permits under a mandatory cap-and-trade system. The auction raised nearly $107 million for the 10 states, which hope to reduce emissions in the region by 10 percent from 2015 through 2018. Carbon dioxide was priced at $3.38 a ton. The states intend to invest the proceeds in clean energy and energy efficiency projects. The states began regulating carbon dioxide emission from power plants on January 1, 2009. Read more at Reuters