Carbon Trading Rule Comments
The public hearings for the Carbon Trading Rule and Clean Energy Virginia Initiative have wrapped up, but there is still time to submit public comments before the April 9th deadline. VAEEC encourages members to submit comments supporting the energy efficiency carve out and are happy to help you draft comments.
Click here to view VAEEC’s public comments.
Last November, the Virginia Air Pollution Control Board approved Governor McAuliffe’s regulations to limit carbon emissions from Virginia’s electric generating facilities. These regulations will:
- cap emissions at 33 or 34 million tons
- reduce carbon emissions 30% between 2020-2030
The state will hold quarterly consignment auctions to determine the cost of the allowances and the money from that auction will be given back to the utilities (not to state), which is a first of its kind in the US.
Five percent of the allowances will be withheld from the consignment auction and will be transferred to the Department of Mines, Minerals and Energy (DMME) to implement energy efficiency programs. DMME plans to hold a separate rulemaking for this piece of the carbon rule later this year. VAEEC will continue providing resources to DMME as they investigate options for program design and implementation.
There is currently an open comment period through April 9th, 2018.