Pennsylvania Governor Vetoes Bill That Would Have Stalled Efforts to Join RGGI

Pennsylvania Governor Tom Wolf, a Democrat, vetoed legislation, which would have prevented the state from implementing measures to limit carbon emissions without legislative approval. The state’s Environmental Quality Board recently voted in favor of a proposed regulation that would allow the state to participate in the Regional Greenhouse Gas Initiative, or RGGI, a cooperative effort...

Pennsylvania Board Approves Draft Regulation to Participate in Regional Carbon Market

The Pennsylvania Environmental Quality Board on Sept. 15 voted in favor of a proposed regulation that would allow the state to participate in the Regional Greenhouse Gas Initiative, or RGGI, a cooperative effort among 10 states to cap and reduce emissions from the power sector. Democratic Governor Tom Wolf applauded the move, which stems from...

Pennsylvania Lawmakers Pass Bill Requiring Legislative Approval to Join Regional Carbon Market

The Pennsylvania Senate on Sept. 9 voted in favor of a bill that would require legislative approval before the state can impose a carbon tax or join a multi-state carbon-trading program. The House of Representatives approved the legislation in July. The move comes ahead of a Sept. 15 meeting of the state’s Environmental Quality Board…

RGGI Carbon Auction Sells Out, Allowance Prices Hit Five-Year High

The 49th quarterly carbon auction of the Regional Greenhouse Gas Initiative, the nation’s first market-based program to cut power sector emissions, sold nearly 16.2 million carbon allowances at a clearing price of $6.82, according to a Sept. 4 news release. The clearing price is the highest since the December 2015 auction, which cleared at $7.50.…

EnerKnol’s Visual Primer – Increased Focus on Clean Energy Prompts Wholesale Power Markets to Weigh Carbon Pricing

There is a growing interest in how carbon pricing can be incorporated into wholesale power markets as more jurisdictions embrace policy goals to transition to a lower-carbon power system. The Federal Energy Regulatory Commission has scheduled a technical conference to consider state adoption of mechanisms to price carbon emissions in regions with commission-jurisdictional electricity markets.

Exelon Plans to Close Two Nuclear Plants in Illinois Citing Revenue Shortfalls

Exelon Generation on Aug. 26 announced that it plans to retire two nuclear plants in Illinois with a capacity of more than 4.1 gigawatts as they face revenue shortfalls due to falling energy prices and market rules that allow fossil fuel generators to underbid carbon-free resources in PJM Interconnection LLC’s capacity auction. The announcement follows…...

California Carbon Auction Rebounds, Generates $475 Million

The twenty-fourth quarterly carbon auction held by California and Quebec sold nearly 89 percent of the carbon permits offered for current emissions, rebounding from a dip in the previous auction which sold only 37 percent, according to the results released on Aug. 25 by the California Air Resources Board. The auction generated about $474.4 million…...

Pennsylvania House Passes Bill That Would Restrain Participation in Regional Carbon Market

The Pennsylvania House of Representatives on July 8 voted in favor of a bill that would require legislative approval before the state can impose a carbon tax or join a multi-state carbon-trading program. The Department of Environmental Protection is currently in the process of drafting regulations to allow the state to join the Regional Greenhouse Gas…...

EnerKnol Carbon Policy Tracking Table Q2 2020

Measures to tackle greenhouse gas emissions have long been a political lightning rod, but mechanisms like carbon pricing are coming up more regularly in legislative sessions and evolving to play a key role in the shift to a low-carbon economy. Keep on top of the latest carbon policy changes by accessing EnerKnol’s Quarterly Carbon Policy…...

FERC to Examine Carbon Pricing in Wholesale Power Markets

The Federal Energy Regulatory Commission will convene a technical conference in September to consider state adoption of mechanisms to price carbon emissions in regions with commission-jurisdictional wholesale power markets, according to a June 24 notice. State-level activity on emission-trading programs and carbon pricing has been on the rise as more jurisdictions embrace policy goals to…...

EnerKnol’s Visual Primer – RGGI Carbon Auction Signals Steady Market Defying COVID-19 Impacts

Prices in the 10-state Regional Greenhouse Gas Initiative’s latest carbon auction rose to the highest since 2015, defying impacts from the COVID-19 pandemic as two more states gear up to join the initiative. Meanwhile, revenues from California’s post-pandemic auction tumbled to $25 million, less than 5 percent of the previous auction proceeds, pointing to a need for reforms for predictable outcomes and a long-term strategy to fund climate programs.

RGGI Carbon Auction Sells Out, Generates $94 Million

The 48th quarterly carbon auction of the Regional Greenhouse Gas Initiative, the nation’s first mandatory cap-and-trade program to cut power sector emissions, sold more than 16.3 million carbon allowances at a clearing price of $5.75. The auction generated about $93.9 million, bringing the total proceeds to nearly $3.6 billion. The clearing price was slightly higher…...