• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

CO2 Auction Plans Can Help Fund Energy Efficiency Programs, Tackling Climate Change, Says National Grid

Posted on: Thursday, 27 September 2007, 15:00 CDT

National Grid (NYSE: NGG) has welcomed plans by the Massachusetts Department of Environmental Protection (DEP) to introduce auctions for CO2 allowances across the state. The plans are being developed in support of the Regional Greenhouse Gas Initiative (RGGI) that was endorsed by Governor Patrick earlier this year.

In recent testimony filed with the DEP, the company welcomed the proposals and highlighted that this was a vital step forward to support energy efficiency programs for the future.

"If the funds from these auctions are invested back into energy efficiency programs already being run by utilities across the state, then it's surely a positive step forward for us all in tackling climate change," said Joseph M. Kwasnik, Vice President Environment at National Grid.

The company is already playing its part in reducing its climate change gaseous emissions. It has committed to reducing them by 60% well before 2050 - though emissions reduction is just part of the story.

National Grid is currently seeking to expand its commitment to reducing emissions of greenhouse gases, including the development of options for its energy efficiency customers to purchase renewable energy (GreenUp Program) and carbon offsets as a means of "zeroing out" their emissions.

National Grid has been running energy efficiency programs for its customers since 1987, realizing in Massachusetts more than $2 billion in lifetime savings to customers and eliminating the need to generate 2 billion kilowatt hours of electricity.

The auctioning of CO2 allowances has been proposed by a number of the 10 states participating in the RGGI program. It is expected that these proposals will result in final regulations adopting allowance auctions in a majority of the participating states.

To learn more about energy efficiency, go to www.nationalgridus.com/energyefficiency.

National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority. National Grid is the largest power producer in New York State, owning 6,650 megawatts of electricity generation that provides power to over one million LIPA customers on Long Island and supplies roughly a quarter of New York City's electricity needs. It is also the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in New York, Massachusetts, New Hampshire and Rhode Island.

Source: Business Wire

More News in this Category