FOR IMMEDIATE RELEASE                                                              Tuesday, May 21, 2008

Contact: Senator Martha Fuller Clark

(603) 271-6933

REGIONAL GREENHOUSE GAS INITIATIVE ADVANCES TO GOVERNOR

CONCORD – The Senate celebrated the House vote today that sends legislation allowing New Hampshire to participate in the Regional Greenhouse Gas Initiative to the governor to be signed into law.

“This is an important step forward in allowing the state to control its own energy costs along with the rest of the region. It also takes a major step forward to reduce CO2 emissions that contribute to climate change,” said Senator Martha Fuller Clark (D-Portsmouth).

The Regional Greenhouse Gas Initiative, or RGGI, is a market-based, cap-and-trade program that involves nine other states and is expected to reduce carbon pollution, improve energy efficiency and ultimately save ratepayers money.

Because New Hampshire buys much of its electricity on the regional market, RGGI was expected to affect local energy prices regardless of whether New Hampshire participated. By joining RGGI, New Hampshire will have a voice as the program unfolds over time.

Participation also is expected to stimulate the New Hampshire economy and create new jobs

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.

“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).