PG&E customers to receive a credit of up to $125 on April utility bill
Millions of Pacific Gas and Electric customers will receive a credit on their bills next month thanks to the California Climate Credit, the utility said Tuesday.
PG&E said in a press release
that residential households with an active electric account will receive a credit of $58.23 on their April bill, while households with an active gas account will receive a credit of $67.03. Customers receiving both gas and electric service from PG&E will get both credits for a total of $125.26.
The utility said residential customers receive electric credits in April and October, while natural gas customers receive an annual credit in April. Eligible small business customers also receive identical electric credits, distributed twice a year.
"We know many of our customers are feeling the pressure of rising energy bills," said a prepared statement from Vincent Davis, PG&E senior vice president for customer experience. "We support bill relief for families and fostering a more climate-resilient future."
The California Climate Credit is funded by
the state's Cap-and-Trade Program
and distributed to PG&E customers as directed by the California Public Utilities Commission, the utility said. Cap and trade refers to a government regulatory program designed to limit, or cap, companies' greenhouse gas emissions. The state distributes permits to companies to allow them to emit a set amount of emissions and companies can trade the permits, buying or selling on the open market, creating an incentive for reducing their emissions.
Aside from the credits provided to California investor-owned utility customers, funds generated by the Cap-and-Trade Program also pay for solar and clean energy and energy efficiency programs in disadvantaged communities.
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