In the 2019 General Assembly session, the House and Senate both passed a bill that would prohibit the Governor, or any state agency, from adopting any cap and trade regulation or participation in the Regional Greenhouse Gas Initiative (“RGGI”) without the consent of a two-thirds majority in both houses. Unfortunately, Governor Northam has suggested that he will suspend the democratic process by vetoing the bill and, at the expense of Virginia energy consumers, unilaterally enter Virginia into RGGI by executive order!

This potential move by the Governor is an effort to pick winners and losers in Virginia’s energy market. RGGI regulations would see fossil fuel generation costs increased in an effort to make them less competitive, while Virginia consumers suffer the financial consequences. The State Corporation Commission testified before the House that RGGI would cost Virginians between $3.3 and $5.9 billion over the course of the first ten years, raising average electricity bills between $7 to $12 a month. Virginia’s electricity prices are currently 12% below the national average, while RGGI states are 39% above.

Cap and Trade programs like RGGI have little to no effect on emissions and a huge effect on consumers while depriving low-income communities and families of affordable electricity.