Southern California Edison customers could be receiving a combined $72 credit on their summer electricity bills during August and September, the utility announced last week.
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According to SCE, millions of customers will be receiving the credit and no action is required to receive the “climate credit,” which the California Public Utilities Commission shifted to peak summer months to provide bill relief.
Customers included in the program will receive two $36 credits. One in August and one in September. SCE said in a statement that billing cycles vary, so some customers may see the credit in the following month’s statement.
Funding for the climate credit is generated through the cap-and-invest program that requires power plants, fuel suppliers and large industrial facilities that emit greenhouse gases to buy carbon pollution allowances.
CPUC implements the program and investor-owned utilities deliver it through bills.
Rates are down an average 4.3% this year compared to last December and SCE said a further decrease is expected later this year.
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“We know families and businesses are facing higher costs for everyday essentials,” SCE President and CEO Steve Powell said in a statement. “The climate credit provides direct savings on summer bills and, together with lower electricity rates this year, helps make energy more affordable for customers.”
Future rate updates are expected to track at or below local inflation on average through 2030, according to SCE, due to more homes and businesses using electricity, spreading fixed costs across greater energy consumption.
“We work every day to help customers save on their electric bills while investing in a more reliable, resilient grid,” Powell said.
The announcement came in the final days of the California legislative session where utilities like SCE watched closely for reform around the wildfire recovery process. Fire survivor groups had been warning that Gov. Gavin Newsom was maneuvering to update the current system to the liking of public utilities and at the expense of future survivors.
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