DANA BATE / WHYY – Seven and a half years ago, then-Gov. Chris Christie pulled New Jersey out of a regional cap-and-trade effort to lower greenhouse-gas emissions.
On Friday, state environmental regulators will hear the public’s views on two proposals that would allow New Jersey back in.
The Regional Greenhouse Gas Initiative — known as “Reggie” — puts a cap on a participating state’s carbon emissions from fossil fuel-fired electric power plants with a capacity of 25 megawatts or greater.
Power plants are given CO2 allowances, each equal to one ton of carbon dioxide. They can buy additional allowances through auctions — the “trade” part of “cap-and-trade” — and the proceeds from those auctions are used by participating states to fund things such as energy-efficiency programs, renewable energy, and other climate-related initiatives …