Saturday, February 20, 2010

The Center's Green Carbon Bank (GCB)

The Center for Environment, Commerce & Energy's Green Carbon Dioxide Offset Bank (Green Carbon Bank) (GCB) is a service that allows participants to reduce their "carbon footprint," the total carbon dioxide emissions created by driving, flying, using electricity and other activities. Nuclear power plants, like hydro and wind, do not emit any greenhouse or smog forming gases. Every time a carbon dioxide credit is purchased via the GCB, the credit holder will be designated with an equilavent fission credit certifying that the holder purchased emission free energy. GCB's carbon dioxide credits are based on uprates at nuclear power plants subsequent to October 1, 2010, fission futures from new nuclear power plants and power plant license renewals. Uprates are increases in capacity factors at power plants. Fission carbon dioxide offset futures (fission futures) (FF), will be available upon submittal of applications to the NRC for license renewals, uprates and new nuclear power plants.

GCB funds promote the creation of new sources of emission-free electricity. These offsets are for new sources of emission free production of electricity. In addition to carbon dioxide, offsets can be taken for methane, sulfur dioxide, nitrogen oxides and mercury. Green Power is also available through the GCB. GCB Green Power is available through independent power suppliers at a rate of 15 cents per kilowatt hour (KWH). GCB will receive 1.5 cents per KWH from the independent power supplier for each customer referral. GCB Green Power income is used to promote the production of additional Green Power.

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