Virginia Passes Bill to Require Use of Social Cost of Carbon
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Application
In April 2020, the Virginia state legislature passed the Clean Economy Act requiring the State Corporation Commission, Virginia's electric utility regulator, to use the social cost of carbon to assess the impacts of building fossil fuel-fired generators.
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Date
April 2020 -
Details
In April 2020, the Virginia state legislature passed a bill requiring the State Corporation Commission, Virginia's electric utility regulator, to use the social cost of carbon to assess the impacts of building fossil fuel-fired generators. Specifically, the statute "requires each utility to include, and the Commission to consider, in any application to construct a new generating facility the social cost of carbon, as determined by the Commission, as a benefit or cost, whichever is appropriate." The statute also guides the Commission to use the best available science and technology to determine the social cost of carbon, including by using the 2016 Interagency Working Group technical support document.
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SCC Value(s)
To be determined; based on the best available science and economics, including the 2016 IWG technical support document.
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Legal Authority
Va. Code. Ann. § 56-585.1(6) (2020)
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Status
State Corporation Commission proceeding expected to begin in July 2020.
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