New RGGI Credit Mechanism Wins Broad Support But Details Uncertain

A potential tool limiting compliance credits in the Regional Greenhouse Gas Initiative (RGGI) to address instances of oversupplied allowances is winning broad support from environmental groups, utilities and other observers, though state officials still face many key decisions on the mechanism's implementation. Known as the emissions containment reserve (ECR), the mechanism would slightly increase the stringency of the cap-and-trade program if compliance with the cap is easy and allowance prices fall. RGGI state officials debuted the concept, developed primarily by...