Dominion Warns of Dirty Power Imports if Virginia Joins Carbon Trade
View on Bloomberg Environment website"Dallas Burtraw, a senior fellow at Resources for the Future, said electricity prices in Virginia will depend on the emissions cap established by the cap-and-trade program, but ratepayers are in a 'win-win' position.
'If the cap is greater than the emissions, then Virginia will end up selling allowances into RGGI and ratepayers in Virginia will win through additional revenue that can go toward the rate base and reduce regulated electricity prices,' he told Bloomberg Environment in an email.
'If the cap is less than emissions, then Virginia will end up as a net purchaser of allowances from RGGI,' he said. 'This also will benefit rate payers because the relatively cheap compliance option of purchasing allowances will save money compared to achieving emissions reductions in the state.'"
