"The credit comes from the state cap-and-trade program, rebranded as cap-and-invest, which sets limits on greenhouse gas emissions and garners billions in funding for the state's climate goals by allowing large polluters to buy and sell unused emissions allowances at quarterly auctions. Ratepayers then see a portion of those funds in the form of a utility bill credit. An electric bill reduction comes in April and October. The natural gas credits are distributed only in April."
"The amount of the credit depends on the utility company, regardless of your energy consumption or bill amount. To find the credit, look for the line item labeled "CA Climate Credit" or "California Climate Credit," with the refunded amount. Here's what ratepayers can expect: Pacific Gas & Electric: $58.23 Southern California Edison: $56 San Diego Gas & Electric: $81.38 Bear Valley Electric Service: $34.91 Liberty: $63.71 Pacific Power: $259.36"
California issues automatic Climate Credit refunds on electric bills in April and October, with natural gas credits distributed only in April. October payments exceed $700 million for residential electricity customers and $60 million for qualifying small businesses, totaling $1.4 billion for electricity, $1 billion for natural gas, and $122 million for small businesses annually. The credits are funded by the cap-and-trade (cap-and-invest) system that auctions emissions allowances to large polluters. Credit amounts vary by utility and are independent of individual energy consumption. Representative credits include PG&E $58.23, SCE $56, SDG&E $81.38, and Pacific Power $259.36. Governor Newsom extended the program through 2045 with a projected $60 billion fund.
Read at Los Angeles Times
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