FOR IMMEDIATE RELEASE                                                              Thursday, May 8, 2008

Contact: Senator Martha Fuller Clark

(603) 271-6933

SENATE VOTES TO SUPPORT REGIONAL GREENHOUSE GAS INITIATIVE
 

CONCORD – The Senate voted today 16-8 in support of legislation to allow New Hampshire to participate in the Regional Greenhouse Gas Initiative.

The Regional Greenhouse Gas Initiative, or RGGI, is a market-based program that involves nine other states and is expected to reduce carbon pollution, improve energy efficiency and ultimately save ratepayers money. The legislation already has passed in the House. Today’s Senate vote sends the bill to the Senate Finance Committee for review.

“New Hampshire will be better off economically if we participate in RGGI,” said Senator Martha Fuller Clark (D-Portsmouth). “As the rest of the region begins to implement RGGI, electricity costs will increase. If New Hampshire participates, this additional cost can be offset by the sale of RGGI allowances allocated to New Hampshire and their reinvestment in energy efficiency and conservation measures.”

RGGI would require electric utilities to buy a carbon allowance for each ton of carbon they emit. Participating in a regional auction of those allowances, New Hampshire would raise millions of dollars for local businesses and homeowners to use toward reducing energy use, both heat and electricity, through conservation and improved efficiency. Participation also would reduce the need for expensive upgrades to the state’s old fossil fuel-based power plants.

To address concerns from the business community, the Senate Energy, Environment and Economic Development Committee capped carbon allowances starting at $6 per ton. The original legislation called for a limit that starts at $12 per ton.

“You don’t have to believe in climate change to favor the bill because there is a strong economic argument for improving efficiency and conservation given our soaring energy prices,” said Senator Harold Janeway (D-Webster).

“It is in our long-term best interest,” said Senator Peter Bragdon (R-Milford).