California Households to Receive Automatic Savings Averaging $71 on October Electricity Bills

“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,Photo byJason RichardonUnsplash

SACRAMENTO – Governor Gavin Newsom announced today that over 11.5 million Californian households will benefit from automatic savings on their October electricity bills through the California Climate Credit, funded by the state’s Cap-and-Trade Program. This initiative aims to ease financial burdens while promoting cleaner energy practices.

Eligible households can expect an average credit of $71 on their electric bills this month. In total, Californians will receive an average of $217 in climate credits throughout 2024, including additional credits distributed in April. Since the program's inception in 2014, Californian households have collectively received an average of $971 in credits, amounting to over $14 billion statewide.

“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,” Newsom stated. “Not only does this credit provide much-needed relief for families, it’s helping Californians make the switch to cleaner energy.”

The electricity bill credits for October will vary, ranging from approximately $32 to $174. Additionally, more than 1 million small businesses are expected to receive this credit, echoing the relief felt by residential customers.