Albany - State Environmental Commissioner Pete Grannis announced New York's successful participation in another quarterly auction of carbon dioxide (CO2) pollution allowances. This auction, the seventh conducted by the 10 states participating in the Regional Greenhouse Gas Initiative (RGGI), generated $88 million to invest in the clean energy economy. New York's share of the proceeds is approximately $32.7 million.

All 40,612,408 allowances offered by the 10 RGGI states for the current compliance period (2009-2011) sold at a clearing price of $2.07 per allowance in this week's auction. In a parallel offering, the RGGI states also auctioned allowances for the next three-year compliance period (2012-2014): 2,091,000 of these allowances sold for $1.86 per allowance. New York sold 15,136,022 of the 2009-11 vintage allowances and 740,167 of the 2012-14 vintage.

Overall, the 10 RGGI states have now raised a total of $582.3 million since the first RGGI auction in September 2008. New York's share is approximately $213.4 million.

States are investing proceeds to improve energy efficiency, accelerate the roll-out of renewable energy technology and build the clean energy economy. New York's innovative investments will drive demand for new products and services and help train a new workforce.

Earlier this month, the New York State Energy Research and Development Authority (NYSERDA) approved a RGGI spending plan that will provide more than $300 million for energy efficiency, renewable energy and advanced technology. Of that, approximately $177 million would go toward energy audits and energy-efficiency installation measures in homes and businesses. The plan also identifies $112 million to fulfill the commitments of Gov. David A. Paterson's Green Jobs/Green NY legislation: NYSERDA will work with constituency-based organizations, community colleges, unions and other groups to build and expand training and certification programs for emerging workers, building remodelers, HVAC technicians, energy auditors and engineers.

The plan also will launch a competitive program for encouraging greenhouse gas reductions. About $15 million would be provided for industrial-sector proposals to achieve the most cost-effective carbon reductions in the state.

"The successful operation of the RGGI auctions is laying the groundwork for environmental and economic progress," Commissioner Grannis said. "The future benefits for New York are clear: reduced carbon pollution, cleaner air, more energy-efficient homes and businesses and a more diversified workforce."

NYSERDA President and CEO Francis J. Murray said: "The RGGI states are investing these proceeds to help reduce energy costs and usage today while building a clean energy economy for the future. These funds will help develop the next generation of energy solutions that will create jobs and opportunities, and benefit New York's environment for years to come."

Garry Brown, Chairman of the New York State Public Service Commission, said: "With these critically important RGGI funds, we will be able to support a range of energy efficiency and weatherization programs, which will help us gain greater control over our energy future and help create clean-energy jobs and a clean-energy economy."

About The Regional Greenhouse Gas Initiative
The 10 Northeast and Mid-Atlantic states participating in RGGI (Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Hampshire, New York, Rhode Island and Vermont) have designed and implemented the first market-based, mandatory cap-and-trade program in the U.S. to reduce greenhouse gas emissions. Power sector CO2 emissions are capped at 188 million short tons per year through 2014. The cap will then be reduced by 2.5 percent in each of the next four years (2015 through 2018) for a total reduction of 10 percent.

A CO2 allowance represents a limited authorization to emit one ton of CO2, as issued by a respective participating state. A regulated power plant must hold CO2 allowances equal to its emissions to demonstrate compliance at the end of each three-year control period. The first control period for fossil fuel-fired electric generators under each state's CO2 Budget Trading Program took effect on January 1, 2009 and extends through December 31, 2011. Allowances issued by any participating state are usable across all state programs, so that the 10 individual state CO2 Budget Trading Programs, in aggregate, form one regional compliance market for CO2 emissions.

For more information go to www.www.rggi.org.