11/23/2014

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California utility customers get 'climate credit'

California utility customers get 'climate credit'
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SAN FRANCISCO (AP) — Customers of California's major utilities will get "climate credit" payments on their electric bills from money earned by the state's cap and trade system.

The San Francisco Chronicle reports that the payments will appear as a line item on utility bills in April and October.

Cap and trade forces power plants and other polluters to buy permits to emit greenhouse gases, and places a cap on the amount of emissions allowed.

The payments will vary in size among utilities based on the number of customers and other factors.

Pacific Gas and Electric Co. residential customers will get $29.81 in April; Southern California Edison's will get $40.

The payments are meant to help offset expected increases in electricity and gas prices due to cap and trade.

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