Two days after Dominion filed a petition to increase the RGGI surcharge on electric bills by 83% next year, the governor elect said he would quit the regional cap-and-trade scheme instead.
“RGGI describes itself as a regional market for carbon,” Youngkin told a meeting of the Hampton Roads Chamber of Commerce. “But it is really a carbon tax that is fully passed on to ratepayers. It is a bad deal for Virginians. It is a bad deal for business and as governor, I will withdraw us from RGGI by executive action. I promised to lower the cost of living in Virginia and this is just the beginning.”
We couldn’t have said it better.