Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
Stage | Proposed |
Comment Period | Ended on 3/31/2023 |
RGGI imposes a carbon tax which has cost Virginia electricity generators more than $500M in just two years, costs which are passed along to consumers like me. And this tax provides no real benefits in terms of preventing climate change; it is just virtue signaling. Moreover, another $300M will likely be collected in 2023. Despite lower emissions in Virginia, RGGI has not, and will not, lower CO2 in the atmosphere. Virginia uses electricity from the entire PJM interconnection region, including several states which are not part of the compact.