Update!  On July 22, 2008, the Legislative Regulations Review Committee rejected the advice of its own attorneys and approved Section 22a-174-31 and Section 22a-174-31a to the Regulations of Connecticut State Agencies concerning the implementation of the Regional Greenhouse Gas Initiative.  The proposals included wording from Governor Rell’s executive order requiring that RGGI auction proceeds produced by allowance prices above a $5/ton be used for customer rebates.  Attorney General Richard Blumenthal a few days earlier had opined that the Governor’s plan was illegal because it did not conform to legislation passed last year.  Nonetheless, after much debate over the varying legal opinions that were expressed over the plan (e.g., from the Attorney General, the CTDEP, and the Legislative Commissioner’s Office), the committee voted 7-6 in favor of the rules, with Democrats and Republicans voting on both sides of the issue.  Voting for the regulations with the Governor’s plan amendment were Representatives Davis, Hamzy, O'Neill, Powers, and Rowe, and Senators Caligiuri and Herlihy.  Voting against the package were Representatives Caruso and Leone, and Senators Doyle, Harris, Rorabach, and Stillman.  Representative Candelaria was absent. 

Two days later, on July 24^th, the CTDEP issued a press release noting that the formal auction process for the first RGGI CO₂  Allowance Auction, scheduled for September 25, 2008, began with the release of the Auction Notice and application materials at 8:00 AM EDT on Thursday, July 24, 2008.  The press release advised that all materials needed to participate in the upcoming auction and an online question window could be accessed through http://www.rggi.org/trading_auctions.htm . All potential bidders must successfully complete the qualification and approval process to participate in the auction. 

The September 25^th auction will offer 12,565,387 CO2 allowances, including CO2 allowances by Connecticut, Maine, Maryland, Massachusetts, Rhode Island and Vermont.  Any CO2 allowances purchased at this auction can be used by a regulated facility for compliance in any of the RGGI states, even if that state does not offer allowances in this auction.