Virginia's Proposed Regulations for Linking with the Regional Greenhouse Gas Initiative: Complexity, Innovation, and a Few Cautions
Virginia, and its governors in particular, deserve credit for taking on the complex issue of beginning to regulate carbon emissions from the power sector and other parts of the state economy. They have adopted an innovative approach based on a consignment method to accomplish these objectives. The approach has the consequence of added administrative complexity as compared to simpler models used in other states. Discussed here is the consignment method, its complexities, and an offering of a few cautions.