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CO2 Budget Trading Amendments



The RGGI participating states conduct period reviews of their programs and make recommendations for program updates by the states.

Contact

Valerie Gray
Division of Air Quality
302.739.9402

In early 2018, DNREC published proposed amendments to its regulations governing the CO2 Budget Trading Program (7 DE Admin. Code 1147), Delaware’s portion of the Regional Greenhouse Gas Initiative (RGGI).

The proposed changes were the result of a comprehensive evaluation of the RGGI cap-and-trade program and publication of an updated RGGI Model Rule. They include a reduction in the state’s CO2 budget to reflect Delaware’s portion of a new regional cap beginning in 2021-2030; adding the Emissions Containment Reserve; amending the quantity of allowances in the Cost Containment Reserve, private bank adjustments; deletion of two offset categories and other minor program adjustments.

Publication

The regulatory update began with publication of a DNREC Start Action Notice and development of a list of interested persons. It continued with work-group meetings and a public workshop to collect stakeholder input. Proposed regulation updates were published in the August 2018 edition of the Delaware Register of Regulations. A public hearing was held on August 29, 2018.

These amendments were published as final in the December 2018 edition of the Delaware Register of Regulations.

Public Process

Reference Materials

The Next Big Thing in Carbon Markets?, Dallas Burtraw. Sept. 28, 2017

The New York State Energy Research and Development Authority draft white paper The Relative Effects of Various Factors on RGGI Electricity Sector Emissions 2005-2009:November 2, 2010

The Economic Impacts of the Regional Greenhouse Gas Initiative on Nine Northeast and Mid-Atlantic States, Review of RGGI’s Third Three Year Compliance Period (2015-2017), Analysis Group. April 2018

Strengthening RGGI to Improve Public Health (2009-2014), Acadia Center. May 10, 2017

Analysis of the Public Health Impacts of the Regional Greenhouse Gas Initiative, 2009-2014, Abt Associates. January 2017

Regulation Works: How Science , Advocacy, and good regulations combined to reduce power plant pollution and public health impacts, with a focus on states in RGGI, Clean Air Task Force. July 2015

The RGGI Opportunity – RGGI as the Electric Sector Compliance Tool to Achieve 2030 State Climate Targets, Synapse Energy Economics Inc. February 2016

2016 Delmarva Integrated Resources Plan, Nov. 30, 2016

The Investment of RGGI Proceeds in 201, published October 2017

Delaware Sustainable Energy Utility Annual Reports

CO2 Emissions from Electricity Generation and Imports in the Regional Greenhouse Gas Initiative: 2015 Monitoring Report, April 27, 2018

RGGI Stakeholder meeting agenda from February 2, 2016 meeting that took place in Wilmington

Intergovernmental Panel on Climate Change Fifth Assessment Report excerpts

Preparing for Tomorrow’s High Tide – Sea Level Rise Vulnerability Assessment for the State of Delaware, July 2012

2017 State of the Market Report for PJM Volume 2: Detailed Analysis, prepared by Monitoring Analytics, LLC, March 3, 2018

Delaware Climate Change Impact Assessment, February 2014

 




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