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Maine gets more than $4M from cap and trade auctions

The program has brought Maine more than $127 million over the years.
(WILX)
Published: Apr. 12, 2021 at 9:51 AM EDT|Updated: Apr. 12, 2021 at 11:01 AM EDT
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AUGUSTA, Maine (AP) - Maine officials say the state has received more than $4 million from an auction of carbon dioxide emission allowances during the first quarter of the year.

The Regional Greenhouse Gas Initiative says the auction was part of its cap-and-trade program.

The program is designed to reduce carbon dioxide emissions from power plants.

The 11 states that participate in the greenhouse gas initiative limit emissions from power plants and allow companies to purchase allowances at auction.

The program has brought Maine more than $127 million over the years.

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