More than 11.5 million California households and 1 million small businesses will receive electricity bill credits averaging $71 in October, funded by the state's Cap-and-Trade Program. (GV Wire Composite/Paul Marshall)
Share
|
Getting your Trinity Audio player ready...
|
More than 11.5 million California households will receive an average $71 credit on their October electricity bills, Gov. Gavin Newsom announced Wednesday.
The credit, part of the California Climate Credit program funded by the state’s Cap-and-Trade Program, will range from $32 to $174 depending on the utility.
Related Story: Is Your PG&E Bill Painfully High This Summer? You’re Not Alone
Customers of investor-owned utilities, including PG&E, Southern California Edison, and SDG&E, will automatically receive the credit. In addition, more than 1 million small businesses are expected to benefit from the program.
Californians will see an average of $217 in climate credits by the end of 2024, with similar credits issued in April.
Related Story: PG&E Warns of Possible Outages in Extreme Fresno Heat Wave
The California Climate Credit is funded by payments from companies required to pay for their carbon emissions, with the proceeds distributed back to consumers.
Managed by the California Air Resources Board, the program has provided over $14 billion in bill savings since 2014. These credits are designed to offset rising energy costs while supporting the state’s climate goals.
RELATED TOPICS:
Categories
How Harris Can Finish Strong
Did Bitwise’s Soberal Apologize? Attorneys Ask For Sentencing Delay
Trump Aides Sought Enhanced Security for Closing Stages of Campaign
