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DE Generators Proposal for Transition to 100% RGGI Allowance Auction Amended Generators Proposal

DE Generators Proposal for Transition to 100% RGGI Allowance Auction Amended Generators Proposal. March 10, 2008 SCR28 Workgroup Committee. SCR 28 “Resolutions and Progress” DE Generators Proposal for a Transition to a 100% Auction. February 6, 2008

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DE Generators Proposal for Transition to 100% RGGI Allowance Auction Amended Generators Proposal

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  1. DE Generators Proposal for Transition to 100% RGGI Allowance AuctionAmended Generators Proposal March 10, 2008 SCR28 Workgroup Committee

  2. SCR 28 “Resolutions and Progress”DE Generators Proposal for a Transition to a 100% Auction February 6, 2008 • Generators Original Proposal for transition to a 100% Allowance Auction 50% Auction with a 50% Allocation 10% annual reduction to zero 100% Auction 2014

  3. Key ConceptsDE Generators Proposal for a Transition to a 100% Auction • Transition to a 100% CO2 RGGI allowance auction in DE is recommended • Transition period – five years • mitigate new program implementation risk and customer price instability over “two-term” compliance period • mitigate the leakage issue in Delaware. • Transition includes allocation, auction, and DE-based GHG reduction projects • Newly formed GHG Advisory Board to evaluate and implement DE based projects.

  4. What’s NewDE Generators Proposal for a Transition to a 100% Auction • GHG Reduction Projects to be Delaware based • Solicit projects through open RFP process • Projects can include, but not limited to generator and generator-affiliated facilities as well as other projects • Allocation to Generators reduced annually by 5% to fund GHG Reduction Projects (via auction process) • GHG Reduction Advisory Board Recommended • 3 – State of DE (DNREC, Legislators) • 3 – Generators • 3 – DE Based Environmental Advocacy Groups • All Auctions managed by DNREC, administrative funding TBD in regulation process • All Auction funds to SEU or similar energy efficiency management program

  5. Distribution of Proceeds as AllowancesDE Generators Proposal for a Transition to a 100% Auction

  6. Program Benefits • Transition reduces program implementation risk, consumer price risk and leakage impacts • Five year duration needed to cover two compliance periods • GHG Reduction Project provides real CO2 reductions in DE • Advisory Board assures fair public process; includes State Officials, Generators, and Environmental Advocates

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