Utility Dive•15 days ago
New York targets power sector carbon allowances in proposed climate regulations
- •New York is proposing new regulations to significantly reduce the annual budget of CO2 allowances for the power sector through 2037.
- •This policy change will likely increase the cost of carbon emissions, making fossil fuel-based generation more expensive and potentially impacting wholesale electricity prices.
- •The tightening carbon budget, including its effect on voluntary renewable energy purchases, signals a stronger market push for zero-emission generation (solar, wind, storage) and associated Power Purchase Agreements (PPAs) in New York.
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