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MAINE RECEIVES $2.68 MILLION IN 46th REGIONAL GREENHOUSE GAS INITIATIVE (RGGI) AUCTION; TOTAL REVENUES GENERATED FOR MAINE NOW EXCEED $111 MILLION

December 6, 2019

Hallowell, Maine - December 6, 2019 Maine received $2.68 million dollars through the 46th auction of carbon dioxide (CO2) emission allowances traded yesterday. The results of the auction were announced by the Regional Greenhouse Gas Initiative (RGGI), a cap and trade program that reduces CO2 emissions from power plants generating more than 25 megawatts. Nine New England and Mid-Atlantic states participate in the program.

Participating states limit, or "cap," CO2 emissions from power plants in order to reduce air pollution. Companies then purchase allowances at auction that permit them to emit only so many millions of tons of CO2 gas from power plants generating more than 25 megawatts of electricity. The auction, or trade, component of the program generates revenues for all nine participating states.

RGGI provides dividends to Maine people in two ways, said Chairman Philip L. Bartlett, II. First, cap and trade is a proven way to reduce CO2 emissions; second, the auctions generate funds that we invest in energy efficiency for Maine residents through Efficiency Maine.

Revenues flowing to Maine since 2007 go into the Efficiency Maine Trust (EMT) where they are used to finance rate relief, energy efficiency and renewable energy projects. Maine has now received a total of $111.3 million. The nine participating states have reduced CO2 emissions from eligible power plants by over 50% since 2007.

About the Commission The Maine Public Utilities Commission regulates electric, telephone, water and gas utilities to ensure that Maine citizens have access to safe and reliable utility service at rates that are just and reasonable for all ratepayers. Commission programs include Maine Enhanced 911 Service and Dig Safe. Philip Bartlett serves as Chairman, Bruce Williamson and Randall Davis serve as Commissioners.

Learn more about the Commission at www.maine.gov/mpuc


Harry Lanphear,(207) 287-3831 or Harry.Lanphear@Maine.gov