Following a hiatus from the Regional Greenhouse Gas Initiative, Virginia is poised to rejoin this multi-state effort to cut power plant pollution and invest in efforts that cut energy bills and keep communities in the Commonwealth safe from flooding.
Virginia originally joined RGGI via statute in 2020, but was illegally removed from the program by former Governor Glenn Youngkin. In the years that we participated in RGGI, the program helped cut power plant pollution by nearly 25% while generating $830 million of revenue for energy efficiency and flood prevention efforts in communities across Virginia.
HB897 and SB802 mandate our continued participation in RGGI and include clarifying language that our membership is not optional, efforts that will help prevent another shortsighted withdrawal in the future.
The original bills split revenues that same way as the original legislation with 50% of proceeds going toward low-income energy efficiency programs, 45% going toward flood prevention, and the remaining funding helping the state administer the program.
Both bills passed along partyline votes of 63-36 and 21-19 and were signed into law by Gov. Spanberger. Virginia officially re-entered the program in July. Language was later added to the state budget that reduces the amount of RGGI money for flooding and energy efficiency work but funds a bill rebate for Virginians, estimated to be a few dollars a month.