According to this, money raised by the RGGI tax on electricity, which was supposed to go for virtuous greenie things, is being diverted to paying the bills.
New Hampshire's budget is opaque, but last year there was $50 million budgeted for "Greenhouse Gas Abatement". Whether it actually got spent or not is unknown, at least to me. That's a lot of money. That's 10% of this coming year's budget deficit ($600 million estimated).
The "Regional Greenhouse Gas Initiative", a joint deal involving the New England states and New York, was going to tax electric companies and earmark the revenue for "Greenhouse Gas Abatement" what ever that might mean. Which is one of the reasons we pay the highest electric bills in the nation. We get hit with 20 cents per kilowatt hour which adds up to $100 a month just to keep the lights on in a small house.
We would do better to drop the RGGI tax, drop the "Greenhouse Gas Abatement" and recover the New Hampshire Advantage.
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