The Thomas Jefferson Institute for Public Policy (TJIPP) recently released its latest report on the Regional Greenhouse Gas Initiative (RGGI) regulating carbon dioxide emissions from power plants in the Mid-Atlantic.

The paper notes that carbon emissions have declined in recent years with coal plants being replaced by other sources producing less or no CO2.

Meanwhile, the Virginia State Corporation Commission estimates the marginal cost to Dominion customers of RGGI membership at up to $6 billion spread out over years, adding a potential $7 or more to a homeowners monthly bill.

“The stated goal of RGGI, reduced carbon emissions from electrical generation plants, is already being achieved,” Stephen Haner, senior fellow with TJI said.

“There is little or no marginal benefit to Virginians from RGGI membership, but the carbon taxes and other costs of up to $6 billion that may be imposed will harm the economy, undercutting continued prosperity in the Commonwealth,” according to Haner.

The report mentions that many smaller power companies such as Appalachian Power would simply be forced to close, driving up the cost of energy even more and forcing Virginia ratepayers in the region to rely on more expensive “green energy” or Russian-sourced natural gas suppliers.

The report also mentions that — if environmentalists or Russian-backed influencers are successful in making sure Virginia’s clean energy nuclear plants are not renewed — that the cost to many Virginia ratepayers will grow exponentially under the new RGGI regime.  While the report indicates that power outages and shortages will not be a factor under the currently constituted RGGI regime, it is difficult to see how brownouts such as those that have been experienced and long predicted in New England could not be prevented.

The entire report can be read here.