Insight
Can RGGI states avoid 'leaking' carbon emissions to their neighbors?
Report summary
The Regional Greenhouse Gas Initiative (RGGI) to date has been successful at reducing emissions by funding energy efficiency and incentivizing the closure of coal plants. In December, the RGGI states updated the program to extend beyond 2020 with the goal of lowering power sector CO2 emissions 30% between 2020 and 2030. However, because few coal plants remain within the RGGI footprint, Wood Mackenzie’s modeling shows RGGI’s declining cap shifting generation and emissions from within RGGI states to adjacent states and provinces, potentially even raising overall CO2 emissions.
Table of contents
- Key Takeaways
- Introduction
- Valuing RGGI CO 2 allowances
- Why RGGI prices are poised to rise
- Leakage challenges intended CO 2 reductions
- After coal-to-gas switching – the only effective way to further reduce power sector emissions is to reduce Net Fossil Demand
- Caveats and Conclusions
Tables and charts
This report includes 4 images and tables including:
- The RGGI Footprint
- Historical/forecast RGGI carbon Allowance prices (2017 $/short-ton)
- Forecast change in generator carbon emissions if RGGI was canceled
- Forecast RGGI Power Demand and Generation (TWh)
What's included
This report contains:
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