Well, hey, maybe all us skeptics were wrong about losing money from carbon schemes
SDG&E customers to get $21.11 climate credit on April bill
San Diego Gas & Electric customers will see a credit on their April bill due to California’s fight against climate change.
SDG&E says a $21.11 California Climate Credit will appear on residential customers’ bills, and the credit will be automatically added to their monthly statement.
According to SDGE, the credit “is from a state program that requires power plants, natural gas providers, and other large industries that emit greenhouse gases to buy carbon pollution permits. The credit on the bill is the customers’ share of the payments from the State’s program.â€
The utility says the credit “comes at an ideal time when many are staying home due to the coronavirus pandemic and may be using more energy than normal.â€
Um, just one problem
Between 2016 and 2017, California’s electricity prices rose three times more than they did in the rest of the United States, according to a new analysis by Environmental Progress.
The increases came despite 2017 having had the highest output of hydroelectricity — the state’s cheapest source of electricity — since 2011. Electricity prices in the rest of the United States outside California rose two percent, the same as the rate of inflation.
Between 2011 and 2017, California’s electricity prices rose five times faster than they did nationally. Today, Californians pay 60 percent more, on average, than the rest of the nation, for residential, commercial and industrial electricity.
California’s high penetration of intermittent renewables such as solar and wind are likely a key factor in higher prices. Economists agree that “the dominant policy driver in the electricity sector [in California]
So, you get a cute little rebate, but, your actual costs for electricity far outpace that $21.11. It’s not like they couldn’t see this coming
There’s simply no doubt that SB 100 will mean even higher electricity prices for Californians. A parallel can be seen in Germany, which has pledged to cut its carbon-dioxide emissions by 80 percent by 2050 and, like California, is closing its nuclear plants and pushing hard for more renewable energy. According to Agora Energiewende, a think tank that focuses on Germany’s transition toward renewables, between 2007 and 2018, residential electricity prices in Germany jumped by 50 percent. German residential customers now have some of the highest-priced electricity in Europe, about $0.37 per kilowatt-hour.
Ontario, Canada has had a similar experience. Over the past decade, Ontario closed its coal plants and implemented lucrative subsidies for renewables. The result: Between 2008 and 2016, residential electricity rates in Ontario rose 71 percent, which was more than double the average increase in the rest of Canada during that time. And rates in Ontario could rise another 40 percent by 2035. A report released by the Fraser Institute in April concluded that “soaring electricity costs in Ontario have placed a significant financial burden on the manufacturing sector and hampered its competitiveness.â€
So, enjoy your $21.11, Californians. You voted for this.
Read: San Diego Residents To See A $21.11 Rebate On Energy Bills From California’s Carbon Scheme »