|Action||Repeal CO 2 Budget Trading Program as required by Executive Order 9 (Revision A22)|
|Comment Period||Ended on 3/31/2023|
The RGGI program has returned more than $550 million to the state in the last 2 years with minimal capital outlay from the average utility consumer... less than a cup of coffee per month. And the executive office knows this very well. In its external communications, it brags about the money being used to help Virginians without acknowledging the source of the funds.
Veterans and farmers have been helped via the energy efficiency programs that have come with RGGI funds, and the Commonwealth is increasing its flood resiliency because of these funds. Greenhouse gas emissions are dropping as Dominion Energy transitions away from coal — the most polluting of the fossil fuels. I can only imagine the governor and his allies are trying to save large businesses money in the short term, but in the long term, history will remember these decisions.
Plus, the governor is overstepping his authority in this matter. Leaving RGGI through the regulatory process is a power grab, attempting to circumvent the legislature from a previous session. Prolonged legal challenges are certain to follow in 2024, which will be a colossal waste of time and resources.