The Climate Credit, which is administered by the California Public Utilities Commission, goes out to all customers of the state’s three big investor-owned utilities — SDG&E, Southern California Edison and Pacific Gas & Electric.that requires power plants, natural gas providers, and other large industries that emit greenhouse gases to buy carbon pollution permits. The amount distributed each year fluctuates, depending on the revenue the cap and trade program collects.The $43.
A credit of $64.17 will be applied to statements in August and then in September, for a total of $128.34. The electric Climate Credits are disbursed later in the year because that’s when bills are typically at their highest, with customers turning on their air conditioners to get relief from the summer heat.In January,per therm of natural gas shot up more than 24 percent compared to the previous year and the class average electric rate for residential customers rose 7.8 percent.
The company blamed the increases on spikes in natural gas prices and additional spending on a host of statewide programs that get folded into rates — such as wildfire mitigation, “public purpose” programs that include projects that help lower income customers pay their bills and strategies to decarbonize California’s grid and transportation system.
SDG&E rates have traditionally been the highest in California and according to the U.S. Bureau of Labor Statistics, the San Diego region had the
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