Millions of Californians will see a lower electricity bill soon thanks to the state’s Climate Credits.
The Climate Credits come from money that is generated by the auction of emissions permits to companies that generate large amounts of pollution.
The money from the auctions, which are part of the state’s Cap-and-Trade program, pay for projects to combat climate change in the state and for credits issued to millions of Californians, typically in April and October.
The California Public Utilities Commission announced that most customers will receive anywhere between $40 – $70 in credit applied to their electricity bills.
The CPUC reminds Californians that there is no action necessary to receive the credit. The money will be automatically applied to each account’s bill, and if the amount is higher than the bill, any remaining balance will be applied to the next bill until the entire credit is used up.
Households typically receive the fall Climate Credit on their October bill, but the CPUC said that it may appear in November depending on electricity providers’ billing periods.
The spring Climate Credits are typically applied in April. In 2023, the credits were applied earlier due to the rise in utility bills over the winter.