DEPARTMENT OF NATURAL RESOURCES AND ENVIRONMENTAL CONTROL
Division of Air and Waste Management
NOTICE OF PUBLIC HEARING AND COMMENT PERIOD
1147 CO2 Budget Trading Program
This new regulation will create Delaware's portion of a multi-state Carbon Dioxide (CO2) Budget Trading Program. The Budget Trading also know as a cap-and-trade program was developed by the Regional Greenhouse Gas Initiative, or RGGI, which is a cooperative effort amongst a number of Northeastern and Mid-Atlantic States which include Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont. The purpose of RGGI is to reduce the emissions of CO2 from the Power Sector's Electric Generating Units (EGUs). CO2 is a greenhouse gas that contributes to global warming.
Between 2009 and 2015 the emissions of CO2 from any EGU with a maximum rated heat input capacity of equal to or greater than 25 megawatts that is located in a RGGI state would be capped at current levels. After 2015 the cap would be reduced incrementally to achieve a 10 percent reduction by 2019. Under the cap-and-trade program one allowance will be issued for each ton of CO2 emissions allowed by the cap. Each subject EGU will be required to have enough allowances to cover its reported emissions each year. The EGUs may buy or sell allowances, but individual EGU emissions shall not exceed the amount of allowances it possesses. The total amount of the allowances will be equal to the emissions cap for the RGGI states. Section 11 of these proposed regulations constitutes the elements of the auction program that must be published in the Register of Regulations as required by 7 Del.C. section 6045(b).
Public Hearing scheduled September 22, 2008 6:00 pm DNREC Auditorium, Richardson & Robbins Building, 89 Kings Highway, Dover, DE 19901
Contact: Valerie Gray, (302) 739-9402, email@example.com, August 1, 2008