OTHER NEWS - March 30, 1994
From Times Staff and Wire Reports
Prices Up at Second Acid Rain Credits Auction: Proponents of market-based environmental rules praised the results, announced by the Chicago Board of Trade, of the U.S. Environmental Protection Agency’s second annual auction of rights to emit acid-rain forming pollution. CBOT officials and the Environmental Defense Fund, an environmental group, said that the increased number of buyers, mostly electric utilities, and the prices paid--up from an average of $156 last year to $159 per ton of allowed sulfur dioxide emissions after 1995--showed that the process is working. Trading is meant to encourage utilities to lower their emissions even faster than federal regulations require, while giving utilities more flexibility in meeting those rules.
