First U.S. Cap-And-Trade Program Takes Effect

The first mandatory U.S. cap-and-trade program for greenhouse gas (GHG) emissions from electric utilities took effect last week for 10 Northeastern and Mid-Atlantic states. The program is not expected to have an immediate impact on facility operations, however, due to a miscalculation of anticipated emissions, sources say. Officials who drafted the program expected current emissions to be higher than they are, so few utilities are expected to need to purchase emission allowances. The miscalculation was due largely to utilities scaling back operations due to high...

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