California Ratepayers to Receive Cap-and-Trade Dividend

California regulators will direct the state’s largest utilities to return 85% of cap-and-trade proceeds to ratepayers.  The move, which comes about a month after the successful completion of California’s first carbon allowance auction, aims at offsetting higher electricity costs resulting from the cap-and-trade program, by providing a “climate dividend” on utility bills. On December 20, 1012,…