(FOX40.COM) — Good news is underway for millions of Californians after Gov. Gavin Newsom announced on Wednesday that California households will automatically see refunds on their October electricity bill through the California Climate Credit. • Video above: Is your old money worth anything?

According to Newsom, more than 11.5 million California households will receive refunds on their electricity bills, which stem from the historic legislation signed last week. The refunds are expected to grow starting in 2026, with up to $60 billion allocated to the electric Climate Credit through 2045.

"Millions of California families will see money back on their electricity bills in October – and that refund will be even bigger next year thanks to new laws I signed last week," Newsom said. "Up to $60

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