FACTBOX-Climate change bill pending in U.S. House

June 22 (Reuters) - Climate change legislation pending in Congress would cost U.S. households only about $175 annually in higher energy and consumer prices, far less than the $3,100 "burden" opponents have claimed would result, according to an estimate by the non-partisan Congressional Budget Office.

Democratic leaders in the U.S. House of Representatives hope they can soon pass a climate change bill that would significantly reduce industry emissions of carbon dioxide and other greenhouse gases associated with global warming.

Here are details of the House Democratic version of the bill:

Here are details of the House Democratic version of the bill:

* U.S. emissions of carbon dioxide and other greenhouse gases would be reduced 17 percent by 2020 from 2005 levels. This is less ambitious than the 20 percent initially sought, but slightly more aggressive than the approximately 15 percent Obama proposed.

The legislation sets further pollution reduction goals -- 42 percent by 2030 and 83 percent by 2050, with the latter just slightly higher than Obama suggested.

* About 85 percent of pollution permits under the program would be given out, and around 15 percent would be sold. Local electric distribution companies would get 30 percent of all permits for free and would have to protect consumers from electricity price increases.

Other recipients of free permits: 15 percent to cement, steel, glass and other heavy industries; 9 percent to local natural gas distribution companies; 3 percent for firms making electric and advanced technology vehicles and 2 percent for oil refiners.

The free permits are designed to ease industry's burden and prevent large energy price increases for consumers. In 2026, many of the free permits would begin switching to those that much be purchased. Obama wanted all of the permits to be sold, but has indicated flexibility.

* Under "cap and trade," fewer and fewer pollution permits would be available to companies over the next several decades. Also, companies that pollute less than their limit could sell some of their permits to others struggling to meet environmental requirements.

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