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The Regional Greenhouse Gas Initiative (RGGI) is a market-based program to reduce carbon pollution. It essentially charges power plants for their emissions and invests the proceeds in local energy efficiency initiatives.
Writing in the Portsmouth Herald, the CEO of Foss Manufacturing, a Hampton-based manufacturer of advanced fibers and fabrics, explains why RGGI is good for business, and good for New Hampshire.
New Hampshire faces numerous energy challenges, from leaky buildings to energy insecurity — placing a heavy burden on our business owners and homeowners. It's time to switch gears and put our hard work and innovation into reducing energy waste.
In New Hampshire, [RGGI] has meant $33 million invested in critical, waste-eliminating energy measures, education and job training programs, and the likes. The result has been economic growth, reduced energy costs and greater independence from volatile out-of-state energy sources.
Furthermore, Granite Staters have seen, and will continue to see, reductions in energy bills due to the new energy-efficiency programs. Simply put, this means more money for us to invest into our local economies and communities.
When push comes to shove, we simply cannot afford to lose these benefits. We must stick to our roots — growing our economy through innovation and smart thinking, while avoiding needless waste.
Last year, the House and Senate voted to withdraw from RGGI, but the Senate failed to override Gov. Lynch's veto. In March, the House again passed a similar bill, House Bill 1490, which would have the state withdraw by January 1, 2015. Gov. Lynch has stated his opposition and Senate Majority Leader Jeb Bradley says he does not expect any Senators to change their vote.
With that backdrop, the Senate Energy and Natural Resources Committee approved an amendment to HB 1490 that would make repeal contingent upon two other New England states also withdrawing from the initiative (or the withdrawal of a single state with 10% or more of the total load). The bill now moves to the full Senate.
