This Week from Del. Matt Fariss

Republicans made some significant promises on the campaign trail in 2021, including a pledge to get Virginia out of the Regional Greenhouse Gas Initiative, a cap-and-trade system driving up power bills for every Virginian. While Democrats in the General Assembly blocked efforts to act legislatively, Gov. (Glenn) Youngkin has begun the process through administrative policy. 

RGGI, is a multi-state compact established by states in the northeast to cap their emissions of carbon dioxide from power plants. Each year RGGI sets a limit for how much carbon can be emitted by utilities in member states, and auctions off the rights to those emissions, offering fewer credits each year for sale.

Virginia utilities must either retire coal-fired units and replace them with natural gas or other sources or purchase credits on the open market. 

There’s more to this in the current issue of the Times Virginian newspaper. Support local journalism by purchasing the issue at a local newsstand or subscribing at www.timesvirginian.com/subscriber_services to receive the print edition or view the full article in the e-edition version.