States participating in the Regional Greenhouse Gas Initiative (RGGI), an agreement among the Governors of ten Northeastern and Mid-Atlantic states to reduce greenhouse gases from power plants, have announced that the first ever CO2 allowance auction in the United States for a mandatory emissions reduction program will take place on September 10, 2008.
The states participating in RGGI have agreed to participate in quarterly uniform regional auctions for the allowances that each state will be offering for sale. The second quarterly auction is scheduled to be held on December 17, 2008.
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