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RGGI Form MV-1 1C - Coversheet Regional Greenhouse Gas Initiative Eligible Offset Form - dec ny

RGGI Form MV-1 1C - Coversheet Regional Greenhouse Gas Initiative Eligible Offset Form - dec ny 2025

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The document outlines the requirements for submitting an Offset Project, including necessary forms and information related to greenhouse gas emissions data reporting and project verification. It serves as a coversheet for the project sponsor to indicate compliance with various reporting obligations.

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What is the purpose of RGGI?

The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort among eleven Eastern states to reduce carbon dioxide (CO2) emissions from power plants within each participating state.

Who does RGGI apply to?

The Regional Greenhouse Gas Initiative (RGGI) is a cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont to cap and reduce power sector CO2 emissions.

Has the RGGI been successful?

RGGI has been successful in reducing emissions and boosting investments in clean energy.

Is RGGI a cap-and-trade?

The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory cap-and-trade program in the United States to limit carbon dioxide from the power sector.

Is RGGI a carbon market?

RGGI is the first mandatory market-based emissions trading program in the U.S. to reduce CO2 emissions, and the first anywhere to use the cap-and-invest model for reducing pollution. In New York State, RGGI is implemented by DEC through 6 NYCRR Part 242, CO2 Budget Trading Program .

Is New York part of RGGI?

In Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont and Virginia, RGGI is promoting a clean-energy future with lower greenhouse gas emissions from electric power generation and savings for electricity customers.

How does the RGGI work?

RGGI is a market-based cap-and-invest initiative. Within the RGGI states, regulated power plants must acquire one RGGI CO2 allowance for every short ton of CO2 they emit. The RGGI states distribute allowances at quarterly auctions, where they can be purchased by power plants and other entities.

RGGI Form MV-1 1C - Coversheet Regional Greenhouse Gas Initiative Eligible Offset Form - dec ny 2025

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