NHDP - Billionaire-Founded and Funded Group Distorting RGGI in NH

Americans for Prosperity, funded in part by the oil baron Koch brothers, are pouring money into state for ads spreading misinformation about this successful program

 

CONCORD - With nearly six months until the election, billionaire-funded special interests are already pouring resources into New Hampshire to spread misinformation, this time about the job-creating Regional Greenhouse Gas Initiative (RGGI).

 

In a 60-second radio ad released today, Americans for Prosperity claims that RGGI has been a negative for the state.  But the facts tell a different story.

 

"RGGI has already saved businesses, homeowners and communities over $5 million on energy costs and those savings will continue to grow if the project continues," said Martha Fuller Clark, a candidate for State Senate and one of the original co-sponsors of the RGGI legislation.  "This is the kind of common sense solution that radical, out-of-state interests and Bill O'Brien's Tea Party legislature has continued to oppose at the expense of the New Hampshire economy and middle class. "

 

RGGI has supported the creation of jobs across the state, allowing businesses to save on energy costs and reinvest and grow their workforce. The initiative is estimated to save ratepayers $84 million over its lifetime. RGGI projects completed through June 2011 are expected to reduce carbon emissions by 299,700 metric tons, the equivalent of energy used by 25,000 New Hampshire households.

 

"What is really outrageous is that if Speaker Bill O'Brien and the big outside coal and oil interests which are promoting New Hampshire's withdrawal from this energy saving program are successful, New Hampshire ratepayers will face millions of dollars in costs" said Fuller Clark.

 

The Facts About RGGI:

 

Saving Ratepayers Money:

  • Projects completed through June 2011 have already saved businesses, homeowners and communities $5.3 million on energy costs.
  • At current energy costs, projects completed through June 2011 ($18.1 million in grants) will save ratepayers an estimated $84.5 million over their lifetime. 
  • Energy efficiency projects have a great return on investment. Every $1 spent by the Greenhouse Gas Reduction Fund returns an estimated $4.67 in energy savings over the lifetime of the project.  
  • RGGI spending through June 2011 accounts to one-half-of one percent of the $6 billion NH spends annually on energy.

Benefits Outweigh Costs:

  • RGGI is helping businesses save on their energy costs - money they can reinvest in creating jobs.   
  • RGGI has also supported the creation of new jobs. Carbon Solutions found that RGGI supported 53 FTEs, a number slightly depressed in the second half of the reporting period by the prospects of a legislative repeal.  

Reducing Pollution:

  • RGGI projects completed through June 2011 are expected to reduce carbon emissions by 299,700 metric tons, the equivalent of energy used by 25,000 NH households.