More than 11.5 million California households will see automatic refunds averaging $61 on their October electricity bills as part of the California Climate Credit initiative.

The state will issue more than $700 million in bill credits for residential customers and $60 million for qualifying small businesses. Customers already received an identical electric credit in April, bringing the average total refund for the year to $198.

“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,” Governor Gavin Newsom said in a statement. “Up to $60 billion will go back in your pockets, cutting your electric bills while we keep our historic momentum transitioning away from polluting fossil fuels.”

The refunds, which range from $35 to $259 depending on utility provider, are funded through California’s Cap-and-Invest program administered by the California Air Resources Board. Residents do not need to take any action to receive the credit.

Since 2014, the program has returned $14.6 billion in credits to utility customers. This year, the state will provide $2.4 billion in credits to residential and small business customers.

In addition to refunds, the Cap-and-Invest program has generated $33 billion in climate investments that have created more than 120,000 jobs and reduced millions of tons of carbon emissions, according to state officials.