RGGI Should Be Revoked Not Repackaged
WINDHAM – Americans for Prosperity – New Hampshire today is continuing their call for the removal of NH from the Regional Greenhouse Gas Initiative (RGGI), a cap-and-trade program that taxes NH electricity ratepayers.
“It’s time to remove our state from this failed cap-and-trade program and take away this burden from NH individuals and small businesses,” said Corey R. Lewandowski, State Director of Americans for Prosperity-New Hampshire. “Today’s proposal to significantly reduce the number of permits available demonstrates the failure of the RGGI program.”
The proposal set forth today by the nine RGGI states calls for a 45% decrease in the number of permits in 2014 followed by a 2.5% reduction annually through 2020. At the quarterly RGGI auction in December permits sold for $1.93, the minimum bid, and 48 percent remained unsold.
“During the life of the RGGI program we have seen the price of the allowances decrease while the electricity bills of NH ratepayers have increased,” continued Lewandowski. “Now we are asking NH ratepayers to pay even more to sustain this failed program. It just doesn’t make sense.”