Closed power plant fails to meet RGGI interim compliance deadline

Published 02:14 on March 3, 2016  /  Last updated at 02:14 on March 3, 2016  /  Americas, US  /  No Comments

Only one facility, the closed Niagara Generation LLC plant in New York State, failed to meet the Mar. 1 RGGI interim compliance deadline, the market operator said.

Only one facility, the closed Niagara Generation LLC plant in New York State, failed to meet the Mar. 1 RGGI interim compliance deadline, the market operator said.

Emitters covered by the cap-and-trade programme must surrender allowances equal to half of their CO2 emissions in the previous year by Mar. 1.

Niagara Generation, which was due to hand over 22,236 permits to the regulator, was the only facility that didn’t meet the deadline, the compliance report showed.

The plant, owned by Indiana-based Sterling Energy, has been closed down after defaulting on its $6 million mortgage and several loans.

It also failed to meet the compliance deadline for RGGI’s 2012-2014 trading period.

RGGI emitters are required to surrender allowances equal to 100% of their emissions only at the end of each three-year trading period. The current period expires on Dec. 31, 2017.

By Stian Reklev – stian@carbon-pulse.com

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