More than 11.5 million customers of privately owned utility companies in California will automatically receive an average credit of $71 on their October utility bills, Gov. Gavin Newsom said in an Oct. 2 statement.
The climate credits are intended to help “offset increases while preserving the incentive for customers to conserve energy and reduce [greenhouse gas] emissions,” according to the California Public Utilities Commission’s website.
Funding comes from the state’s cap-and-trade program, which regulates the amount of carbon produced by companies and requires those that exceed limits to pay fees.
Credit amounts vary for utility providers. The more than 5 million households that rely on the largest energy company in the state, PG&E, will receive $55.17….