Restoration News has reported that the Thomas Jefferson Institute projects Virginia could face approximately $500 million in higher annual electricity costs if it reenters the Regional Greenhouse Gas Initiative (RGGI).
According to the report, Virginia’s 2025 governor’s race has brought RGGI into focus as a significant cost issue for households. Spanberger has committed to rejoining the multistate cap-and-trade program, while Lieutenant Governor Winsome Earle-Sears has said she will keep Virginia out of RGGI to protect ratepayers. The Thomas Jefferson Institute warns that allowance costs are passed through by monopoly utilities, raising bills without providing consumers with a choice of providers. For right-leaning advocates, this policy contrast highlights who will maintain energy affordability as auction prices increase.
The Thomas Jefferson Institute notes a significant rise in RGGI allowance prices: from $5.65 per ton when Virginia authorized entry in early 2020 to $14.88 by the state’s final auction in December 2023, with commentary noting a current price point around $22.25. Based on recent auction levels and Virginia’s emissions profile, the institute estimates reentry could add roughly $500 million per year to power costs—costs Dominion and other utilities can fully pass on under Virginia’s regulatory framework.
RGGI’s own auction history shows allowance prices trending upward over time across participating states, reinforcing concerns that carbon-cost compliance escalates utility expenses and ultimately increases customer bills. Republicans argue this amounts to an energy-inflation tax that impacts working families and small businesses most severely as auction clearing prices rise and compliance budgets tighten. Public auction data provide the quantitative backdrop for these projections.
Restoration News is a reporting and commentary project associated with Restoration of America that focuses on elections, public policy, and government accountability from a conservative perspective. It highlights stories on energy costs, education, military readiness, and integrity in governance, often amplifying research and watchdog findings. Its coverage aims to inform voters about policy impacts on household budgets and public services, positioning itself as a right-leaning investigative voice.
