We all want to save money wherever we can nowadays, right? Well, if you live in Washington State, you may soon see a drop in your electricity bill. Now, don’t get too excited because there are a number of factors involved, but let’s dig into this possibility and see what’s up.
Here are Five Fast Facts on possible electricity bill credits for Washington State residents:
- ⚡ The Program - A new program called the Washington Families Clean Energy Credits program was fired up last week. The goal is to provide low- and middle-income households with a $200 credit on their electric bill. Up to 675,000 households may qualify for the $150 million set aside for it.
- 🏭 The Method - The credits will be distributed to the utility companies to be applied directly to customer accounts. They are limited to one per household and will be applied by September 15th. That’s moving at blinding speed, considering it’s a government thing!
- 👋 The Eligible - If you’re already part of a utility company’s low-income assistance program, you’re already in! Anyone else can apply here to see if they qualify. Lottery tickets not included.
- 😆 The Priority - The first credits will go to households at or below 80% of their local median income, then with income up to 150% of their local median income if there’s money left over. Money left over from a government program? Hahahahahahaha…!
- 🤔 The Controversy - Now, for the tricky part. The money for this program comes from the sale of Washington State’s cap and trade program, which we’ve talked about before. Some say this program is driving up the cost of energy in the state, meaning if it wasn’t in effect there would be no need for the credits in the first place! Gotta love the irony, huh?
🔥Bottom line: While it’s great for folks to save money any chance they get, it does once again raise the question of whether or not the cap and trade program is worth it. Credits for those who need it most are great…but wouldn’t it be better for everyone if all prices were lower?
What do you think?
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