California to issue $886M in electricity credits, saving households $75 each

California will automatically apply electricity bill credits to households in August and September this summer. A total of $886 million will be distributed across utility customers, with each household receiving an average of $75 off their bills. No application is required, making the relief process seamless for residents. The funds come from California's Cap-and-Invest initiative, a program designed to generate revenue through carbon emissions regulation. The credits are intended to ease the financial burden on households during peak energy consumption in the hottest months of the year.