The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort by ten Northeast and Mid-Atlantic states to limit greenhouse gas emissions. The eleven states participating in RGGI -- Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont and Virginia -- are implementing the first mandatory cap-and-trade program in the United States to reduce greenhouse gas emissions.
Through independent rules and/or regulations (based on the RGGI "Model Rule") each state limits emissions of carbon dioxide (CO2) from electric power plants, creates CO2 allowances, and establishes participation in CO2 allowance auctions. The regulations apply to fossil fuel-fired electric generating units that have with a nameplate capacity of 25 megawatts or greater (15MW or greater in NY). Regulated power plants may use a CO2 allowance issued by any of the participating states to demonstrate compliance with an individual state program.
In addition, CO2 offset allowances may be used to demonstrate compliance. A RGGI CO2 offset allowance represents a project-based greenhouse gas emission reduction outside of the capped electric power generation sector. The Vermont CO2 Budget Trading Program supports the following three project categories:
- Avoided methane emissions from agricultural manure management
- Landfill methane capture and destruction; and
- Sequestration of carbon due to reforestation, improved forest management, or avoided conversion
DOCUMENTS
Vermont CO2 Budget Trading Program Documents
- Vermont CO2 Budget Trading Program Regulations (effective September 15, 2018)
- Vermont Public Utilities Commission Docket 18-4145-INV Order Implementing Auction Procedures (January 10, 2019)
- Procedure for the Vermont CO2 Budget Trading Program Allowance Budget Adjustments and Price Control Measures (effective December 6, 2018)
- Offsets
- For additional information on offset projects or for offset project and offset verifier materials please email brian.woods@vermont.gov