History
In 2003, governors from Connecticut, Delaware, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont began discussions to develop a regional cap-and-trade program addressing carbon dioxide emissions from power plants.
On December 20, 2005, seven of those states announced an agreement to implement the Regional Greenhouse Gas Initiative, as outlined in a Memorandum of Understanding (MOU) signed by the Governors of Connecticut, Delaware, Maine, New Hampshire, New Jersey, New York, and Vermont. The MOU provides the outlines of RGGI, including the framework for a Model Rule.
In August, 2006, the original seven MOU signatory states published a model rule to assist any participating state in implementation of RGGI. The model set of regulations detailed the proposed program, as outlined in the MOU, and served as the basis for individual state regulatory and/or statutory proposals.
In early 2007, Massachusetts and Rhode Island, which had participated in the early development of RGGI, signed the MOU, as did Maryland later that year.
Together these ten states have focused on the design and implementation of a regional cap and trade program for emissions from power plants, with the option of expanding to other sectors in the future.
All ten states have completed their individual rulemaking processes. To view each state's CO2 Budget Trading Program regulations please click here.
The first compliance period for each state's linked CO2 Budget Trading Program began January 1, 2009.
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