The Regional Greenhouse Gas Initiative Inc. (RGGI), a cooperative effort by northeastern states to reduce emissions of carbon dioxide (CO2), has selected Fairfax, Va.-based Potomac Economics to perform market-monitoring services for the states participating in RGGI auctions. The first RGGI auction, which will be held today, will be the first CO2 allowance auction in the U.S. for a mandatory greenhouse gas emissions reduction program.
The selection of Potomac Economics, conducted through a competitive process, puts into place a rigorous set of protocols to ensure the integrity of RGGI auction procedures and the fairness of the auction for all bidders.
‘We went looking for and hired an experienced watchdog to ensure market participants that the RGGI auction process is fair,’ says Jonathan E. Schrag, executive director of RGGI. ‘Potomac Economics has extensive experience in monitoring electricity markets, and we are pleased that they are part of our team.’
SOURCE: Regional Greenhouse Gas Initiative Inc.