Repeal RGGI: Ending a useless programEDITORIAL
October 11. 2017 11:46PM
Bad ideas never die.
The New Hampshire House Science Committee has until next month to consider HB 592, which would pull the Granite State out of the Regional Greenhouse Gas Initiative (RGGI). It’s past time to scrap this useless agreement.
The 10-state pact (nine since New Jersey withdrew in 2011) auctions off the right for fossil-fueled power plants to emit carbon dioxide. The secondary trading market in RGGI allowances never materialized, and market forces quickly made the program irrelevant.
Carbon emissions from electricity are falling, without top-down government interventions.
The natural gas boom has shifted power production away from coal, which is far more carbon intensive than natural gas. We get seven percent of our electricity from hydro, and six percent from wind, while solar generates just one percent.
RGGI funnels payments from power plants to green energy boondoggles. New Hampshire shifts most of its RGGI revenues back to customers, but this is just shuffling money from our high electric rates.
RGGI lets politicians pledge their loyalty to the green power mob, but does nothing to reduce atmospheric carbon dioxide levels. It adds higher costs for all electric customers.
Whether or not our neighboring states come to their senses, New Hampshire should get out of RGGI. Then the Legislature should get serious about reducing electric rates.