Citizens packed two rooms on Thursday, to hear what Virginia Attorney General Ken Cuccinelli had to say about current and future energy costs.
Cuccinelli said the three main reasons for past rate increases are:
1. Increased coal prices
2. Last year's cold winter weather
3. Some federal regulations that were put in place to limit harmful emissions
We checked with Appalachian Power Company, and a spokesman agreed. APCo also said the current rate is $103 per thousand Killowatt hours for residential customers.
Cuccinelli then pivoted to "cap and trade," which he opposes. He stated that federal regulations placed on companies, like APCo, could cause higher energy rates, and would be passed along to you.
Cuccinelli claims that could total $532 per household.
Cuccinelli also described "cap and trade" as a job killer, especially in the Commonwealth. “If you want to run a business here in Virginia, which is what we want, that is energy intensive. And this is job killing," Cuccinelli said.
So is this true? We checked by going to factcheck.org. According to that website, "cap and trade" will create some new green jobs, but on the whole will likely cost more jobs. Factcheck.org cites the Congressional Budget Office, saying it would likely slow future job growth between 388,000 and 2.3 million jobs, 20 years from now.
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