Youngkin administration to continue push for removal from RGGI Wednesday
Acting Secretary Voyles is set to present in front of the state Air Pollution Control Board this morning.
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Still trying to get out of RGGI
Acting Secretary of Natural and Historic Resources Travis Voyles intends to reiterate the Youngkin administration’s effort in leaving the Regional Greenhouse Gas Initiative (RGGI) while speaking to the State Air Pollution Control Board at 10 am this morning.
RGGI is a market-based cap-and-invest initiative. Within the 11 states participating in RGGI, regulated power plants must acquire one RGGI CO2 allowance for every short ton of CO2 they emit. The RGGI states distribute allowances at quarterly auctions, where they can be purchased by power plants and other entities.
After joining the initiative in 2020 with 10 other states, Virginia made $228 million in 2021. The money is intended to be reinvested toward low-income energy efficiency programs and a Community Flood Preparedness Fund.
Virginia Mercury reported that Dominion’s average residential customer paid $2.39 extra per month to cover the additional RGGI costs.
Governor Glenn Youngkin announced in December, prior to taking office, that he planned on removing Virginia from the initiative. Legally he was not able to do so with the stroke of a pen meaning this matter has been drawn out.
Senate Democrats prevented the governor from using legislative means during the 2022 General Assembly session to remove Virginia from RGGI. That will likely remain the case during the next session but could change in 2024 if Republicans gain control of the Senate during 2023’s elections and keep the majority in the House of Delegates.
Youngkin also signed an executive order on day one of his administration beginning the process of reevaluating Virginia’s participation in the Regional Greenhouse Gas Initiative and beginning regulatory processes to end it.
In the presentation that Voyles is set to discuss this morning, he is calling for complete removal from RGGI by the end of 2023. Part of the reasoning cited is rising energy costs and the desire for energy independence in Virginia.
Here are some prepared remarks that Voyles plans to say to the Air Pollution Control Board today: