Gov. Charlie Baker has pulled the plug on a regional climate initiative that would have capped tailpipe emissions and was projected to hike gas prices at a time of record inflation, admitting the multi state-deal is “no longer the best solution.”
Virginia should not abandon the current structure entirely. The pure competitive supplier model has plenty of downsides (See Texas). It is only attractive to so many in Virginians at this time because Dominion Energy Virginia has corrupted the market to unfairly enrich its stockholders. If all these other steps are taken and electricity costs in Virginia stabilize, the desire to bolt from the monopoly service will wane.
The hallmark, interstate compact — named the Transportation and Climate Initiative — originally included a dozen states, from Maine to Virginia, as well as Washington, D.C... However, a year passed, a pandemic hit, and by last December, the number of states actually committed to the program had dwindled to three: Massachusetts, Connecticut, and Rhode Island, along with D.C.