In Jørgen Wettestad and Lars H. Gulbrandsen (eds), The Evolution of Carbon Markets: Design and Diffusion. London, Routledge, 2018, pp. 53-66.
This chapter focuses on the first subnational carbon market in the USA, the Regional Greenhouse Gas Initiative (RGGI) on the East Coast. RGGI targets only power producers. Further, RGGI is, as yet, the only ETS in the world which auctions all allowances; it has both a price floor and ceiling. RGGI administrators have learnt from previous US ETS experience and from the EU ETS.