Millions of Californians are getting a refund on their electric bill. What you need to know

Millions of Californians will see automatic refunds of more than $50 on their October electric bills from the state’s Climate Credit program.

The money comes from California’s cap-and-trade system, which has generated billions by making large polluters pay for emissions allowances.

Gov. Newsom extended the program through 2045, with credits expected to increase from a projected $60-billion fund.

Your October electric bill could be reduced by more than $50.

Every April and October, millions of Californians receive a utility bill credit through the California Climate Credit program.

The credit comes from the state cap-and-trade program, rebranded as cap-and-invest , which sets limits on greenhouse gas emissions and garners billions in funding for the state’s climate goals by allowing