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PG&E Corp., Edison International and Sempra Energy would get carbon-dioxide permits worth hundreds of millions of dollars under Californias cap-and-trade program, according to a plan being considered by state officials.
The owners of Californias utilities would be given the permits for free to help offset higher electricity rates for consumers, according to a staff proposal of the states Air Resources Board. The 11-member board is meeting today in Sacramento to vote on a cap-and-trade program that cuts Californias pollution levels by 15 percent from 2012 to 2020.
The board wont decide how many permits go to individual companies until next year. The staffs proposal issued today lists
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