Virginia needs to pull out of the Regional Greenhouse Gas Initiative (RGGI).

From 2007 to 2015, net weighted average nominal electricity prices rose 4.6 percent in RGGI states compared to 2.8 percent in comparison states. Real economic growth was 2.4 times faster in comparison states than in the RGGI states. High RGGI state electric rates led to a 34 percent reduction in energy-intensive industries and a 12 percent drop in the goods production sector, while comparison states saw only a 5 percent drop in energy-intensive industries and a 20 percent gain in goods production. There were no added reductions in CO2 emissions, or associated health benefits, from the RGGI program. RGGI emission reductions are consistent with national trend changes caused by new EPA power plant regulations and lower natural gas prices.

The spending of the allowance revenue had marginal impacts. All states have shown energy efficiency gains. The RGGI states saw a lower improvement in energy intensity at 9.6 percent compared to 11.5 percent for comparison states, so there appears to be no RGGI-related gain in overall energy efficiency. Wind and solar energy installation was slower in RGGI states, increasing by only 2.3 percentage points, while comparison states grew by 5.5 percentage points, more than twice as fast. RGGI grants for wind and solar power accounted for only about 1 percent of all the wind and solar power added by the RGGI states. The net fuel assistance help for low-income households, 15 percent of all households, added only 1.6 percent to the federal Low Income Home Energy Assistance Program, or less than $5/year. RGGI had no meaningful impact on lower-income families.

Meanwhile, the other 85 percent of households saw an increase in electricity cost of $6.50/year directly caused by the RGGI allowance cost.

https://www.cato.org/cato-journal/winter-2018/review-regional-greenhouse-gas-initiative

I urge you to remove Virginia from this program.