California's “climate credit” that can put up to $86 in your pocket

Top line:

The details: Southern California Edison customers will receive an $86 credit, San Diego Gas & Electric customers will receive a $78.22 credit and Bear Valley Electric Service customers will receive a $32.34 credit. Customers receive the credits twice a year, in April and October.

What is the “climate credit”? It is One way The state uses money from its Cap and Trade Programrequiring polluting industries such as oil refineries to pay for the pollution they emit. Everyone, regardless of income, receives the same credit. You can find out more about it Here.

Does it help? A 2016 study from UCLA found that the “climate credit” was effective at the time in offsetting the burden of utility bills on low-income households. But Colleen Callahan, an author of that report, said it may be time to rethink the Universal Credit approach given rising costs.

What's next: The “Climate Credit” program started in 2015 and will run at least until 2030.

Go deeper: Learn more about the credit and what it means Here.