By Steve Haner

The dollar cost for permission to burn hydrocarbon fuels in the Regional Greenhouse Gas Initiative region spiked another 22 percent in just three months.ย
This is one more sign electric power producers in those states know they will need to keep using hydrocarbons despite the political policy push to eliminate them.
The RGGI auction earlier this week set a clearing price of $25.75 per ton, up more than 22% from the $21.03 in the June auction, which itself had been a 31% increase over Marchโs $16.ย When Virginia first forced its power companies to pay the carbon tax to fuel their plants, the price for an allowance was $7.60.ย So, the price has risen 240 percent in less than four years.
Virginia is no longer a member of the multi-state RGGI compact, and Virginiaโs power producers have not needed to own and โretireโ carbon โallowancesโ to run their coal, natural gas or oil generators since last year. But the legal effort to return to RGGI is still churning in litigation, and every Virginia politician with a D after their name โ every single one โ praises RGGI like manna from Heaven. (more…)











