Virginia lawmakers passed a budget amendment that would return about 45% of the state's earnings from the Regional Greenhouse Gas Initiative (RGGI) to utility customers. The RGGI is a cap-and-invest program that requires power companies to buy carbon credits before burning fossil fuels. If approved by the governor, the amendment would send an estimated $3 per month rebate to residents, totaling around $35 per year. The fund is valued at roughly $650 million. Critics argue that diverting nearly half of the money from resilience and flood mitigation projects is shortsighted, while supporters say the fund is large enough to split between rebates and climate adaptation. Dominion Energy, Appalachian Power, and Old Dominion Electric Cooperative would be most affected. The rebate still needs the governor's signature and approval from the State Corporation Commission. Similar energy bill credits have been issued in California and other states as part of broader efforts to manage rising utility costs while incentivizing cleaner energy.
