Where Virginia Energy Does Not Need To Go And Why

Feb 22, 2024

A recent article published in Politico by Wes Vanteicher, ‘Democrats Pushed Climate Action, Then Utility Bills Skyrocketed’ is a realistic foreshadowing of the impacts and outcome of the Virginia Clean Ecomony Act, including how it is being revealed as aspirational, but shortsighted, poorly planned, and naïvely thought out.  We have reached a point now that the law needs to be modified to allow an ‘all of the above’ energy approach as presented by Gov. Youngkin, and wait for the advancement of solar and wind turbine technologies from where they are today to make the costs and environmental impacts digestible for Virginia rate payers.  

One key modification to the VCEA must be that for Dominion’s  Coastal Virginia Offshore Wind project, the electricity generated must be sold into the market place, and not be the sole responsibility of Virginia rate payers as it is now.

The ever-increasing cost of the Coastal Virginia Offshore Wind project, now projected to exceed $20 billion by independent analyst assessments, as well as financial institutions (one of the impacts on Dominion’s share price, and projected to get weaker), will increase monthly Dominion residential rate payer bills from the originally projected $14 per month to now greater than $50 per month using the current VCEA law. 

Additionally, Dominion has itself lost the high confidence in the project, as it has sold 50% (non-control though) to Stonepeak, a clear signal of reducing it’s exposure, and limiting the negative impact on share price once the real numbers come out.

Virginia legislators need to stop trying to ‘One Up California On Everything Energy Related’, and begin to take the pragmatic approach to energy and electric vehicles.  The Virginia Energy Consumer Trust does not believe or support following California into the energy cesspool that state has created and is wallowing in.  Yes, CO2 from fossil fuels is a reality, but this does not mean Virginia should follow the irresponsible approach and the cost burdens California has forced on its residents and businesses.  The Virginia way is to move forward intelligently and methodically based on well thought out roadmaps and technologies.  We cannot make our residents pay for extreme Progressive aspirational ideology or extreme Conservative regressiveness.  We need cost effective, efficient, reliable and secure energy from nuclear, roof top and brownfield solar, on shore wind, and natural gas to maintain jobs and a robust state economy for the next 40 yrs   We cannot implement these sources ‘at any cost’ whether environmentally or financially.  Virginia should lead with the intelligent and pragmatic roadmap, and not follow the aspirational but emotional and irresponsible states into the energy and cost cesspool.

The Virginia Energy Consumer Trust is a 501c 4 organization.  We are advocates for Virginia’s environmental and conservation preservation and improvement, and policies to stay on this roadmap while fulfilling Energy Justice, energy affordability, a sound state economy, high quality job growth, an improved standard of living, and national security.  All energy sources have their benefits and drawbacks, and we seek to have the optimum mix that supports our vision for our state.  Our goal is to be a voice for Virginia residents and businesses with data and facts that are in all our interests.

David DelGuercio

Executive Director

Virginia Energy Consumer Trust

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