Cap-and-Trade Program Summary of 2015-2023 Natural Gas Supplier Use of Allocated Allowance Value

Summary

California's Cap-and-Trade Program aims to reduce greenhouse gas emissions while protecting natural gas utility ratepayers from increased costs. The California Air Resources Board (CARB) addresses this by allocating free allowances to natural gas suppliers, which must be used to benefit ratepayers and advance climate goals. The program is ongoing, with over $6.9 billion in allowance value allocated through 2023, and a significant portion has been returned to ratepayers as credits or invested in emission reduction initiatives, though some funds remain unspent for future programs.

Key Facts

Source Document

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