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The Future of RGGI: Updating the Emissions Cap Presentation to the Restructuring Roundtable February 17 th , 2012 Derek Murrow Energy & Climate Policy Director (ENE) Environment Northeast

The Future of RGGI: Updating the Emissions Cap

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The Future of RGGI: Updating the Emissions Cap. Presentation to the Restructuring Roundtable February 17 th , 2012 Derek Murrow Energy & Climate Policy Director (ENE) Environment Northeast. 2005 Emissions Projections. Current Emissions and Projections. Generation by Fuel Type. - PowerPoint PPT Presentation

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Page 1: The Future of RGGI: Updating the Emissions Cap

The Future of RGGI:Updating the Emissions Cap

Presentation to the Restructuring Roundtable

February 17th, 2012

Derek Murrow

Energy & Climate Policy Director

(ENE) Environment Northeast

Page 2: The Future of RGGI: Updating the Emissions Cap

2005 Emissions Projections

0

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CO

2 E

mis

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ns)

RGGI Cap

Actual RGGI Unit Emissions

2005 IPM Projection

Sources: RGGI Emissions Data, RGGI IPM Modeling Results, and ENE Analysis

Page 3: The Future of RGGI: Updating the Emissions Cap

Current Emissions and Projections

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Current RGGI Cap

Actual RGGI Unit Emissions

BAU - High Combo

BAU - Reference

BAU - Low Combo

Sources: RGGI Emissions Data, RGGI IPM Modeling Results, and ENE Analysis

Cap and modeling adjusted to reflect New Jersey's non-participation after 2011

Page 4: The Future of RGGI: Updating the Emissions Cap

Generation by Fuel Type

Page 5: The Future of RGGI: Updating the Emissions Cap

Natural Gas vs. Oil Prices

Page 6: The Future of RGGI: Updating the Emissions Cap

Allowance Surplus with Retirement

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Retired Allowances

Cumulative Banked Allowances

Current RGGI Cap

Actual RGGI Unit Emissions

BAU - Reference

Sources: RGGI Emissions Data, RGGI IPM Modeling Results, and ENE Analysis

Page 7: The Future of RGGI: Updating the Emissions Cap

Revised RGGI Cap

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Current RGGI Cap (w/o NJ)

Actual RGGI Unit Emissions (w/o NJ)

BAU - Reference

Revised Cap

Sources: RGGI Emissions Data, RGGI IPM Modeling Results, and ENE Analysis

Revised cap starts at 2009 emissions levels (w/o NJ) : 107 million tons

Page 8: The Future of RGGI: Updating the Emissions Cap

Reform Principles

Revise the Emissions Cap To actual 2009 emissions level Decline toward 80% reduction

Include Other GHG Emissions Imports Other smokestack GHGs Smaller sources Biomass

Linkage

Page 9: The Future of RGGI: Updating the Emissions Cap

Contact Information

Derek Murrow

Energy & Climate Policy Director

(203) 285-1946

[email protected]

Environment Northeast

Rockport, ME / Portland, ME / Boston, MA

Providence, RI / Hartford, CT / Ottawa, ON, Canada

www.env-ne.org