Virginia set to rejoin RGGI as utilities prepare to pass the cost back to ratepayers

Virginia set to rejoin RGGI as utilities prepare to pass the cost back to ratepayers

A natural gas-fired power plant. (Photo by Getty Images) Virginia is poised to reenter the Regional Greenhouse Gas Initiative this summer, a move that could again add a monthly charge to electricity customers’ bills as utilities resume buying carbon credits.  State officials expect the commonwealth to participate in the program’s September auction once  regulations to reestablish the CO2 budget trading program are finalized. Dominion Energy plan…

Va. Utility Cos. Will Pass Cost of RGGI Carbon Tax on to Ratepayers - Marcellus Drilling News

Virginia is officially rejoining the Regional Greenhouse Gas Initiative (RGGI) carbon tax scheme this July after a liberal court deemed its previous withdrawal under former Governor Glenn Youngkin unlawful. This reentry forces utilities like Dominion Energy to resume purchasing carbon credits—modern-day indulgences for the “sin” of emitting carbon dioxide, the same thing mammals exhale with...