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RGGI Auction Proceeds for Massachusetts

UPDATE ON RGGI AUCTION PROCEEDS AND THE PROGRAMS TO BE FUNDED September 11, 2009

Massachusetts is one of the lead states participating in the first-in-the-nation Regional Greenhouse Gas Initiative (RGGI) auction program designed to cap and reduce greenhouse gas emissions from power plants. The proceeds from these auctions, as directed by the Green Communities Act, are fueling the creation of a greener energy future for our state.


Regional Greenhouse Gas Initiative (RGGI) Auction - Massachusetts Results

DATE

ALLOWANCES

CLEARING PRICE

AUCTION PROCEEDS

Sept.2008

4,347,534

$3.07

$13.3 million

Dec. 2008

4,387,534

$3.38

$14.8 million

March 2009

4,387,534 (2009 vintage)
328,565 (2012 vintage)

$3.51
$3.05

$15.4 million
$1 million

June 2009

4,387,534 (2009 vintage)
328,565 (2012 vintage)

$3.23
$2.06

$14.17 million
$676,843

Sept.2009

4,387,534 (2009 vintage)
328,565 (2012 vintage)

$2.19
$1.87

$9.6 million
$614,416


The more than $28 million in 2008 revenue from the first two auctions was allocated to the following programs.

  • Green Communities Program start-up and Green Communities Program Grants for cities and towns ($10 million)
  • Ramp-up of utility-administered energy efficiency programs ($5.9 million), as required to support the Green Communities Act. See Appendix for details
  • Assistance to municipalities for energy efficiency projects identified in DOER audits, but previously unfunded ($2.7 million)
  • Heating system replacements in low-income households, through DHCD’s HeartWAP program ($4 million)
  • Workforce development and training programs focused on energy efficiency for homes, businesses and public buildings ($1.9 million for the Energy Efficiency Skills and Innovation Initiative), as well as seed grants and other support for innovative delivery models that will allow the energy efficiency industry to reach a new level of capacity ($3 million)
  • Program administration ( $500,000) to cover administration of the programs (note: very small portions of the above amounts may also be used to fund administration of the programs, e.g., Green Communities Program start-up)

Revenue from the auctions occurring in 2009, including the more than $41 million from the three auctions to date, is expected to be dedicated to electric utility-administered energy efficiency programs, as directed by the Green Communities Act.

 

This information is provided by the Department of Energy Resources,
DOER Creating a Greener Energy Future for the Commonwealth.