FAST MONEY

Millions of Americans may see up to $121 energy credits – see the exact utility companies offering the cash

A BI-ANNUAL energy credit could come early this year for millions of Californians.

The California Public Utilities Commission (CPUC) has ordered utility companies in the state to apply the Climate Credit to customers' bills earlier than usual.

Advertisement
Californians can look forward to their energy credit early this year.

California requires companies that have a large carbon footprint to purchase carbon pollution permits from auctions run by the state's Air Resources Board.

A portion of the proceeds is then turned into credits which are applied to customers' energy bills.

The Climate Credit is usually distributed twice a year, in April and October.

Yet, due to the high cost of fuel, the CPUC ordered the companies to pay the credit "as soon as possible."

Advertisement

“Natural gas prices throughout the West have risen to alarming levels this winter," said CPCU president, Alice Reynolds, in a statement.

"Advancing the California Climate Credit will provide immediate relief to California families struggling to pay their bills while we examine this critical issue and explore longer-term solutions to volatile natural gas prices,” she continued.

HOW MUCH WILL YOU GET

The exact amount you receive depends on your utility company and the energy you pay for.

The commission estimates that customers who get both electricity and natural gas from Pacific Gas and Electric Co., Southern California Edison, San Diego Gas & Electric, and Southern California Gas Company will receive between $91 and $121.

Advertisement

Most read in Money

CLOSING TIME
Several stores closing this weekend for 24 hours including JCPenney & Best Buy
NEW HEIGHTS
Walmart's new scheme to speed up shopping - you won't even need to visit store
TAXING TIMES
IRS makes major filing change impacting millions of taxpayers
TAX TIP
I'm retired with $100k of income - an expert showed how to pay $0 in taxes

Customers of Bear Valley, Liberty, PacifiCorp and Southwest Gas will also get an early credit, but of different amounts.

For more information on your specific credit, check out this guide from the CPUC.

MORE ENERGY RELIEF

Maine is choosing a different approach to helping residents offset high fuel costs.

Rather than applying specific credits for customers' energy bills, the state is opting to send most residents $450 stimulus payments.

Advertisement

To qualify you must have submitted your 2021 tax return by the October 2022 deadline.

There are income requirements, too.

Solo filers must have made less than $100,000, Heads of Households less than $150,000, and Joint Filers less than $200,000.

Georgia residents may be getting $500 checks soon.

Advertisement

And see if you are impacted by one of the largest social security increases in history.

Topics
Advertisement
You might like
Advertisement
Advertisement
Show More
Advertisement
Advertisement
Advertisement