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Print Edition StoriesMonday, April 20, 2009
Connecticut targets $14M in clean-tech cap-and-trade funds
By Efrain Viscarolasaga
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Connecticut Gov. M. Jodi Rell today announced that $14 million raised from auctions of emission allowances will be allocated to agencies and companies that promote energy conservation and help to fund clean and renewable energy programs.
The state brought in the $14 million under the Regional Greenhouse Gas Initiatives (RGGI), a consortium of 10 states working to reduce carbon emissions. The auctions, held twice in 2008 and again in March, allowed power-generating companies and others to buy allowances to cover excess greenhouse-gas emissions.
The revenue will be allocated to the state’s Department of Environmental Protection, the Connecticut Clean Energy Fund and the energy conservation and efficiency programs of three utilities: Connecticut Light and Power, United Illuminating and Connecticut Municipal Electric Energy Cooperative.
The allocation came shortly after the the federal government announced initial steps to regulate greenhouse gases on a national level. On Friday, the U.S. Environmental Protection Agency said that carbon dioxide and five other gases threaten public health and welfare by triggering global climate change.
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