Maggie Hassan

FOR IMMEDIATE RELEASE
Wednesday, June 11, 2008
Contact: Senator Martha Fuller Clark (603) 271-6933

SENATORS CELEBRATE SIGNING OF CLIMATE CHANGE INITIATIVE

CONCORD - Senators celebrated today on the Statehouse lawn as Governor John Lynch signed into law a bill allowing New Hampshire to participate in the Regional Greenhouse Gas Initiative.

"In addition to curbing emissions, one of the significant components of the law is the creation of a substantial fund dedicated to helping businesses and homeowners reduce their energy use," said Senator Martha Fuller Clark, (D-Portsmouth), one of the law's sponsors. "The energy we don't use is money we don't spend. That's why it's so important to emphasize conservation."

The Regional Greenhouse Gas Initiative, or RGGI, is a market-based, cap-and-trade program that involves nine other states and is expected to reduce carbon pollution, improve energy efficiency and ultimately save ratepayers money. The legislation also is expected to create jobs and stimulate the growth of renewable energy in New Hampshire.

RGGI will require electric utilities to buy a carbon allowance for each ton of carbon they emit. Participating in a regional auction of those allowances, New Hampshire is expected to raise millions of dollars for a fund to help businesses and homeowners reduce energy use -- both heat and electricity -- through conservation and improved efficiency. Participation also will reduce the need for expensive upgrades to the state's old fossil fuel-based power plants.

Senator Bob Odell (R-Lempster), a co-sponsor, thanked the governor and Senator Fuller Clark for including Republicans the process. "They reached out and made this bipartisan," he said.

"Here was a chance to step forward with nine other states and really put down a marker - that we're in the game to fight global warming," Odell said.

Other Senate co-sponsors were Senator Maggie Hassan (D-Exeter), Senator Peter Bragdon (R-Milford), and Senator Sylvia Larsen (D-Concord).

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