By Steve Haner
Based on the most recent carbon tax imposed on the member states of the Regional Greenhouse Gas Initiative (RGGI), Virginians will pay about $500 million more per year for electricity if Virginia again becomes one of those member states.ย Your vote in November may determine that.ย
Democratic nominee for governor Abigail Spanberger has pledged to rejoin the RGGI compact and reinstate the carbon tax.ย Republican nominee Winsome Earle-Sears has promised to maintain the policy of Governor Glenn Youngkin and stay outside of RGGI.ย There is also a pending lawsuit that challenges Youngkinโs actions in withdrawing.
There is a clear demarcation between the political parties on rejoining RGGI and adding this cost to Virginiaโs electricity customers.ย Getting us out of RGGI was Youngkinโs most successful initiative to lower electricity bills.ย Every Virginia generator โ both utilities and independent generators โ had to buy an allowance (pay a tax) for every ton of carbon dioxide its plant emits from using coal, oil or natural gas.ย
RGGI held its third 2025 auction for carbon emission allowances September 3 and the results were released today.ย The clearing price to purchase an allowance was set at $22.25 per emitted ton. The peak was a year ago at $25.75 per ton. The first two 2025 auctions cleared at just under $20 per ton. ย














