California climate credit: Millions to get average of $137 in credits on April utility bills

LOS ANGELES - Good news!

Millions of Californians will receive an average of $137 in credits on their gas and electric bills in April, according to Gov. Gavin Newsom.

What we know:

The California Climate Credit is part of the state's Cap-and-Trade program, which aims to reduce pollution and provide financial relief to residents.

Electric customers receive the credit two times a year—in April and October. Natural gas customers receive the credit once a year—in April.

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Since 2014, California households have received an average of $1,120 in combined credits. This year, the state will distribute a total of $2.4 billion in residential credits, including $1.4 billion for electric customers and $1 billion for natural gas customers.

By the numbers:

Since the inception of the Cap-and-Trade program, $10.9 billion in bill credits have been returned to utility customers. The credits for electricity bills range from $35 to $259, with most residents receiving between $56 and $81. Natural gas bill credits range from $54 to $87.

How It Works:

Californians do not need to take any action to receive the credit since it is automatically applied. 

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The backstory:

The Cap-and-Trade program has been instrumental in funding climate investments across California, totaling $28 billion. 

These investments have supported over half a million projects, created 30,000 jobs, and significantly reduced carbon emissions. Initiatives include affordable housing near job centers, high-speed rail development, and zero-emission transportation options in underserved communities, according to Newsom's office.

What's next:

Californians can check the specific amount of their credit online.