Spitzer Introduces Plan To Place Price Tag On Pollution

Governor Eliot Spitzer unveiled a plan Wednesday to drastically cut greenhouse gas emissions from regional power plants.
Under Governor George Pataki, ten states in the Northeast agreed to a plan that would cut greenhouses gas emissions by 16 percent. The aim is to reduce acid rainfall in the Adirondacks.

The unorthodox policy permits power plants to continue polluting, but they’ll have to the buy the rights to do so at auction price. The proceeds from that will benefit renewable energy projects.

“There is a cost that to the right to pollute there is a greater savings that will be driven by the efficiency in the production of energy and by the efficiency that will generated throughout the economy. We think that at the end of the day consumers gain both in terms of the environment and in terms of the overall cost of energy.”

Spitzer said research shows the new regulations won’t affect the overall cost of energy for the average power consumer.

The governor’s announcement comes on the heels of Mayor Michael Bloomberg’s plan to set aside money to reduce greenhouse gas emissions in city-owned buildings.

Earlier this week, the mayor signed an executive order to enforce part of PlaNYC aimed at reducing emissions by 30 percent by 2030. It also sets aside $80 million in next year’s budget to implement savings measures.

Bloomberg also introduced a progress report on his green initiatives. The plan shows that progress has been made on more than 100 of the 127 sections of PlaNYC, including building homes for a million people, expanding parks and transit, reducing water pollution, and implementing congestion pricing.

NY1

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