Wednesday, September 12, 2012

RGGI sees fewer bidders but still raising tens of millions

RGGI, the Regional Greenhouse Gas Initiative that Gov. Chris Christie pulled New Jersey out of last year, drew the lowest number of bidders in the program's history last week during it's 17th auction.

[SeeRGGI's Sweet 17th: Cumulative Proceeds Top A Billion Dollars by attorney Amy Boyd]

Those who support the governor's decision (mostly fellow Republicans, businesses with large electricity bills, and Tea Party members who want less government involvement in almost everything) will point to this as evidence that the nine-member compact is running out of (pardon the pun) gas.

RGGI supporters (mostly Democrats and environmentalists) will point to the fact that, despite lower participation, the auction still raised a not-too-shabby $47.4 million that will be used by  participating states (including New York and Delaware) for energy efficiency and  renewable energy programs.

Who's right?  Let us know what you think in the opinion box below. If one is not visible, activate it by clicking on the tiny 'comments' link.

Related RGGI stories:
RGGI Redux: Christie's latest smackdown; Enviros livid
Enviros pushing lawmakers to get NJ back into RGGI

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