Virginia Mercury covered challenges faced by the Virginia Clean Economy Act quoting Virginia AEE's Harry Godfrey who refutes incomplete (and inaccurate) cost analysis by the SCC. Read excerpts below and the entire Virginia Mercury piece here.
The Virginia Clean Economy Act, the Democrats’ energy omnibus bill designed to achieve Gov. Ralph Northam’s goals of reducing Virginia’s carbon emissions to zero by 2050, sparked sharp questions from senators Sunday over how the costs of shifting away from carbon should be calculated...
The SCC estimates that the Clean Economy Act, which is being backed by a coalition that includes the renewable energy industry, environmental groups and Virginia’s two electric monopolies, will cause the average electric ratepayer’s bill to increase by at least $23.30 per month by 2027-2030. Annually, customers would see a roughly $280 jump in their bills. According to the SCC, the majority of that increase will come from the buildout of 5,200 megawatts of offshore wind and 16,100 megawatts of solar, both of which the legislation would declare to be in the public interest...