For Utilities, New Clean-Air Plan
Opening the door to a lower-cost method for reducing "greenhouse" gases that contribute to global warming, two big electric utilities have made a first-of-its-kind deal to trade air pollution allowances. The agreement, scheduled to be announced today by Niagara Mohawk, serving upstate New York, and Arizona Public Service in Phoenix, is the first in which the right to emit one type of pollutant is being swapped for another.