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RGGI Auctions A View from MA

RGGI Auctions A View from MA. Restructuring Roundtable Friday Dec 9th, 2007 David Cash – Assistant Secretary for Policy MA Exec. Office of Energy & Environmental Affairs. Joining RGGI . Reduce the long-term costs of addressing climate change Spur Clean Energy sector development

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RGGI Auctions A View from MA

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  1. RGGI AuctionsA View from MA Restructuring Roundtable Friday Dec 9th, 2007 David Cash – Assistant Secretary for Policy MA Exec. Office of Energy & Environmental Affairs

  2. Joining RGGI • Reduce the long-term costs of addressing climate change • Spur Clean Energy sector development • Promote expanded energy efficiency and cost savings. • Committed to auction 100% of its allowances. • Modeling suggests RGGI price impacts will be minor, and may have net cost savings. • Help with a glide path for federal action

  3. Allowance Auctions • Economic analysis predict that auctioning allowances will have similar electric rate impacts to direct allocations. • MA preference for a regional/multi-state auction in 2Q 2008 • MA proposes to use auction revenue for: • Cost minimization to electricity customers • Energy efficiency • Demand response • Peak shaving • Other strategic energy goals

  4. Auction design issues under consideration and process • Overall goal is to get to the fair market value as efficiently as possible • Public comments of MA DOER and DEP regs being reviewed • Final MA regulations expected on time for auction in 2nd quarter of 2008 • Next meeting of RGGI agency heads on Monday • Auction frequency, format, reserve price • Market players eligible to participate in auction

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