Action | Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22) |
Stage | NOIRA |
Comment Period | Ended on 10/26/2022 |
RGGI has a proven track record and Virginians have been benefiting from Virginia’s participation over the last year and a half.
From 2010 to 2020, RGGI states dropped greenhouse gas emissions by 30 percent, while Virginia power plant emissions remained flat. Moreover, according to the Virginia Mercury, residents of states with a higher percentage of electricity generated from renewable sources have lower utility bills than Virginians and are better protected from rising utility rates resulting from increasing fossil fuel costs.
Almost $400 million dollars have been raised through RGGI and are now helping Virginia’s households and communities lower their energy costs through energy efficiency improvements and address recurrent flooding from increasingly frequent high-intensity storms.
Virginia’s General Assembly mandated Virginia’s participation in RGGI in 2020 legislation and only the General Assembly can repeal the law; it cannot legally be done by regulatory action.
Governors should not be able to repeal whatever they want at any time this is not how government and governing works. We can deny the reality all we want for the benefit of the few, but ultimately we will end up paying a much higher price and will be behind in infrastructure and supplying energy to the people while mitigating storm and heat effects.