NYSERDA board approves RGGI operating plan amendment with affordability emphasis

Anthony Fiore, NYSERDA's Chief Program Officer, presented an amendment to the Regional Greenhouse Gas Initiative (RGGI) operating plan that updates funding assumptions, program aggregation and an affordability-focused investment strategy.

"The amendment assumes that proceeds from auctions taking place in the next 3 years are based on an auction allowance of $20.42," Fiore said, describing the conservative price assumptions and a blended allowance price the amendment uses for planning. He told the board the amendment was posted December 16, presented at a December 18 stakeholder meeting, and that staff solicited written comments through January 9, receiving input from 54 entities.

Fiore said the amendment groups programs under four strategic themes and proposes that a little more than 60% of planned programmatic RGGI investments be directed to programs under an "affordability" theme. He added that, "based on current estimates, it's anticipated that 44% of the total funding allocations will be invested in disadvantaged communities." Board members had no substantive questions and the board approved the revisions by voice vote.

The presentation noted staff does not plan additional changes at this time but will continue to refine stakeholder engagement. Appendix materials (referenced in the board packet) provide a program crosswalk and place-based DAC impact estimates.