RGGI states are currently re-evaluating their trading rules, and Jordan Stutt, a policy analyst at the Acadia Center, said the timing could be convenient for Virginia.

“As Virginia could develop this new regulation as the RGGI states are revising their existing rules, setting up all 10 states for concurrent adoption of the new rules in 2018,” he said.

Praise from greens, with caveats

Stutt said the move makes sense for Virginia because “in addition to the price signal favoring low-carbon generation, participating in this market could generate substantial revenue for reinvestment in the state.”

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