In response to New Jersey's plan to withdraw from the Regional Greenhouse Gas Initiative (RGGI) on Dec. 31, RGGI says that the remaining states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont can still use allowances obtained from New Jersey to maintain compliance.
RGGI, a collaborative of Northeastern and Mid-Atlantic states that have agreed to cap and reduce carbon dioxide (CO2) emissions by 10% by 2018, requires that power plants remit allowances equal to their emissions.Â
RGGI's announcement comes on the heels of New Jersey Gov. Chris Christie's decision in late May to exit RGGI.Â
Additional information regarding other New Jersey allowances will be issued prior to the release of the Notice for RGGI CO2 Allowance Auction 13.