California to Start Giving Millions of Dollars of Climate Credits to Electricity Users

Starting in April, millions of California households will received a $30 to $40 “climate credit” on their electricity bills.

On Monday the California Public Utilities Commission (CPUC) and California Air Resources Board made the announcement, which is part of California’s broader effort to reduce greenhouse gas emissions and promote clean energy.

The state has implemented a carbon cap-and-trade program on large emitters and is requiring one-third of electricity generation to come from renewable sources by 2020.

California passed the Global Warming Solutions Act, or AB32, in 2006 which requires the state to reduce greenhouse gas emissions to 1990 levels by 2020.

The payments are meant to help offset expected increases in electricity and gas prices due to the cap-and-trade program and to ensure that electricity rates reflect the cost of pollution while protecting customers from potential price hikes.

Continue reading: ThinkProgress » Climate

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