Paul Gutermann Quoted by Law360 on Cap-And-Trade Systems
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Law360, in its article “EPA Carbon Rule Points States Toward Cap-And-Trade,” quoted Akin Gump environment, natural resources and land partner Paul Gutermann on states and utilities using cap-and-trade systems to abide by an Environmental Protection Agency (EPA) plan to reduce carbon emissions from existing power plants by 30 percent by 2030.
Large utilities that operate in multiple states may prefer a cap-and-trade system, Gutermann noted, adding that some have experience with cap-and-trade systems after acid rain regulations came into effect. He added, “The generators that can reduce emissions most efficiently can offset more costs by selling additional emissions credits. Or they can keep the credits for later, so instead of taking the next, more costly steps, they can use the credits they’ve already banked.”
Gutermann noted that some states may consider banding together in this effort, as is the case with the Regional Greenhouse Gas Initiative (RGGI), a compact of nine Northeastern states, “Whether it’s joining RGGI, or if you look back to the 2008-10 time frame, when there were a Midwest governors and a Western states initiative, there was at least a framework for regional cooperation.”
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