USDA ISO New England

NJ’s Absence from RGGI Hampers Compliance with EPA Rules, May Cause Pollution

NJ missing out on RGGI benefits

Fierce Energy, September 10, 2014

Since 2011, New Jersey has lost out on more than $114 million in potential revenue from pulling out of the Regional Greenhouse Gas Initiative (RGGI), a cooperative effort among nine states to cap and reduce CO2 emissions from the power sector, according to a new report from ENE.

In the latest RGGI auction, participating states raised $88 million. New Jersey would have taken in $11.6 million if the state were still participating. By 2020, New Jersey could miss out on another $387 million. Investing this $500 million of lost revenue in energy efficiency could generate savings equivalent to the output of all of New Jersey’s coal plants from 2010-2012, according to the report.

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