SACRAMENTO – California electric customers will receive a credit on their bills next month as part of the state’s ongoing Climate Credit program, officials announced today.
The credit, totaling an estimated $760 million statewide, is designed to help offset rising energy costs and support the state’s climate goals. It’s automatically applied to bills for both residential customers and qualifying small businesses.
Established in 2015, the California Climate credit program distributes funds generated from auctioning allowances to companies that emit greenhouse gases. Investor-owned utility companies are required to provide the credits to customers twice a year – in April and October.
The average residential customer can expect a credit of approximately $61,while qualifying small businesses will receive a combined $60 million in refunds. The program is expected to see increased funding in the coming years, with up to $60 billion allocated to the Electric Climate Credit through 2045.
“That would help a lot. It would help a lot of us a lot as I’m sure everyone knows inflation has gone crazy and a lot of us…are on a fixed income. Every little bit helps,” said Alice Lovell, a Morro Bay resident.
some residents, though, may see little impact. Alair Hough, also of Morro Bay, stated, “My house is fully solared with a complete back up battery, so I think I’m ready for whatever. I pay with PG&E and I usually don’t have a bill at all but I hope everybody gets a lower bill.”
