Virginia's move to rejoin RGGI signals a commitment to affordable energy solutions

Ceres joins leading businesses in Virginia to commend Virginia Gov. Abigail Spanberger and the Virginia General Assembly for affirming a commitment to lower energy costs by initiating the Commonwealth’s re-entry into the Regional Greenhouse Gas Initiative (RGGI). 

“As our customers face electricity and cost of living increases across the country, our work at IKEA U.S. to make life at home more affordable remains central to our vision. IKEA also understands that state governments play important roles in improving affordability and with programs like RGGI, policymakers in Virginia can increase the supply of clean energy for residents and businesses alike. IKEA applauds efforts in Virginia to rejoin RGGI and make the state more affordable and sustainable,” said Doug Murray, public affairs leader, at IKEA U.S. 

“As a manufacturing company, Worthen Industries has long understood that energy strategy directly impacts plant uptime, operating costs, and production reliability,” said Shaye Hardner, sustainability manager at Worthen Industries. “Investments in clean energy help stabilize energy expenses, strengthen operational resilience, and support consistent manufacturing performance. We applaud Virginia policymakers for advancing a program that addresses rising energy costs, improves air quality, and delivers meaningful economic value to the Commonwealth.” 

RGGI is a cooperative, market-based effort among ten east coast states to reduce carbon pollution from power plants while generating funds for valuable state investments. Virginia participated in RGGI from 2021 to 2023 before Gov. Glenn Youngkin controversially withdrew. During that period, carbon pollution from power plants dropped 22%, while Virginia received more than $800 million from program auction proceeds to invest in home efficiency upgrades for low-income Virginians and flood mitigation across the Commonwealth. Since Virginia’s withdrawal, carbon pollution has nearly returned to where it was prior to Virginia's initial participation in the program, driving costly public health impacts linked to increased pollution.  

“Virginia policymakers have sent a clear message that energy policy is economic policy,” said Kelly Trombley, senior director of state policy at Ceres. “Leading companies and investors have long supported Virginia’s participation in RGGI as a market-based solution to cut pollution and protect the state’s economy from the costly effects of extreme weather. Rejoining RGGI ensures Virginia continues to reap the program’s significant revenue benefits, with critical funds that can be used to invest in infrastructure and technology that can strengthen reliability and affordability for households and businesses alike.” 

RGGI has a proven track record of success improving energy affordability. Program investments have saved over $2.7 billion in lifetime energy bills for businesses and residents in participating states. Participating states also saw their electricity prices fall roughly 5.7% in the first nine years of the program, compared to the roughly 8.6% increase in the rest of the country. 

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About Ceres

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient economy. With data-driven research and expert analysis, we inspire investors and companies to act on the world's sustainability challenges and advocate for market and policy solutions. Together, our efforts transform industries, unlock new business opportunities, and foster innovation and job growth – proving that sustainability is the bottom line. For more information, visit ceres.org.