March 13, 2020

Hallowell, Maine - March 13, 2020 Maine received $2.54 million dollars through the 47th auction of carbon dioxide (CO2) emission allowances traded Wednesday. The results of the auction were announced by the Regional Greenhouse Gas Initiative (RGGI), a cap and trade program that reduces CO2 emissions from power plants generating more than 25 megawatts. Ten New England and Mid-Atlantic states participate in the program.

Participating states limit, or "cap," CO2 emissions from power plants in order to reduce air pollution. Companies then purchase allowances at auction that permit them to emit only so many millions of tons of CO2 gas from power plants generating more than 25 megawatts of electricity. The auction, or trade, component of the program generates revenues for all ten participating states.

RGGI continues to provide significant dividends to Maine people, said Chairman Philip L. Bartlett, II. The cap and trade program is a proven way to reduce CO2 emissions, and the auctions generate funds that we invest in energy efficiency for Maine residents through Efficiency Maine.

Revenues flowing to Maine since 2005 go into the Efficiency Maine Trust (EMT) where they are used to finance rate relief, energy efficiency and renewable energy projects. Maine has now received a total of $113.9 million. The ten participating states have reduced CO2 emissions from eligible power plants by over 50% since 2005.

About the Commission The Maine Public Utilities Commission regulates electric, telephone, water and gas utilities to ensure that Maine citizens have access to safe and reliable utility service at rates that are just and reasonable for all ratepayers. Commission programs include Maine Enhanced 911 Service and Dig Safe. Philip L. Bartlett, II serves as Chairman, Bruce Williamson and Randall Davis serve as Commissioners.

Learn more about the Commission at www.maine.gov/mpuc

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Contact: Harry Lanphear,(207) 287-3831 or Harry.Lanphear@Maine.gov