
By SDCN Editor
Sacramento, CA–Governor Gavin Newsom Wednesday announced that more than 11.5 million Californian households will automatically see savings on their October electricity bill through the California Climate Credit, funded by the state’s innovative Cap-and-Trade Program.
This credit will average $71 per electric bill customer. Including credits that went out in April, Californians will receive an average of $217 in bill credits during 2024. Since 2014, Californian households have received an average of $971 in combined automatic April and October climate credits on their utility bills, totaling more than $14 billion statewide.
Electricity bill credits this month will range from approximately $32 to $174. More than 1 million small businesses are also expected to receive the credit. Customers may remember receiving a similar credit on electricity bills in April.
“Thanks to our state’s Cap-and-Trade program, millions of Californians will see an average credit of $71 on their electric bills this month. Not only does this credit provide much-needed relief for families, it’s helping Californians make the switch to cleaner energy,” Governor Gavin Newsom said.
The California Climate Credit comes from the State’s Cap-and-Trade Program, which collects funds requiring companies to pay for climate pollution and is managed by the California Air Resources Board. The credit on utility bills represents the consumer’s share of the payments from the State’s program.