Virginia’s Air Pollution Control Board is continuing through the necessary steps to repeal Virginia’s participation in the Regional Greenhouse Gas Initiative (RGGI), a regional compact that imposes an allowance cost (carbon tax) on fossil fuels used in generating electricity.

During 2021 and 2022, the tax collected about half a billion dollars from power producers, most if not all of that cost passed on to customers. Almost 70 percent of the allowances purchased in 2021 were bought by Dominion Energy Virginia, which is in the process of adding that cost back to its monthly customer bills. 

RGGI also imposes caps to slowly ramp down the maximum amount of fossil fuels allowed to big generators within the region, but other Virginia laws actually require a more rapid retirement in the state. RGGI does not prohibit or tax electricity imported from outside the member states, even if generated from fossil fuels.

The General Assembly likely will continue to impose that other “energy efficiency tax” on customers. One tax to subsidize those questionable activities is enough. The work will continue if RGGI goes away. The RGGI tax for that purpose is just adding insult to injury.

RGGI is a terrible idea that takes money from one group to give to another group.

This not the way I want my money to be spent !!!