State judge blocks Wolf’s Administration’s signature play to continue the fight against climate change
“Commonwealth Court Judge Michael Wojcik’s ruling prevents, for now, the state from entering the multi-state Regional Greenhouse Gas Initiative. The policy was to take effect this month. … The [RGGI] is a confederation of 11 states that have agreed to play by the same marketplace rules to create a cap-and-trade program where energy companies essentially pay for the continued emission of greenhouse gases like carbon dioxide from their power plants. RGGI member states do that through a system of allowances, or credits, that are allocated based on baseline pollution levels, and then set to steadily decline over time. The credits are sold at quarterly auctions, giving energy generators the choice of either paying more for a shrinking supply of allowances, or taking other steps to reduce their emissions to so that they don’t have to buy as many in the first place. Proceeds from the sales of the allowances come to the states, which can use them to promote clean energy and energy efficiency projects and, in at least one case, offset any related increase in consumer’s electricity bills.”
Originally published here by Penn Live on 8 July 2022.