Wave of Democratic victories in the US midterm elections

Democrats regained control of both chambers of Congress in the US midterm elections, which also decided the gubernatorial elections across the Regional Greenhouse Gas Initiative (RGGI) and Western Climate Initiative (WCI) states.

The update sets out the election results in these states, including New Hampshire and Vermont, the positions of the elected governors on their state’s cap-and-trade programme, how the updated legislation aligned with the Model Rule fits in, and what the election results could mean for RGGI and WCI allowance prices.