|Action||Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)|
|Comment Period||Ended on 3/31/2023|
RGGI should be repealed. It has, as predicted from the start by opponents of the compact, resulted in generation leaving Virginia, jobs lost, local revenue lost, revenue to our generators being reduced, and higher electricity costs to meter holders. The costs to Virginia customers will continue to rise year over year as the allowance costs increase and are passed on to meter holders; these costs to customers are likely to be way above the 10B for the first decade estimated by the SCC several years ago, perhaps by two or three times as much. Importing more electricity doesn't reduce emissions, rather it increases emissions as the imports are mostly from non RGGI states such as WVA and Ohio which rely heavily on fossil fuel generation, which results in more CO2 emissions, not less, so the program does not accomplish it's emission goals either. PJM recently issued a warning about grid capacity and reliability; this must be considered and greater generation provided in Virginia to assist maintaining the grid for Virginians, especially in light of increased demand in general plus the huge additional demand that will result from deploying EVs and electrification of housing and commercial buildings. If the state is going to be involved in flooding relief, mitigation, and prevention, and providing lower electric bills for the poor, that should be a General Fund expenditure so every taxpayer pays a share, not placed solely on the backs of electricity customers. Go away RGGI!