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Utility Companies Cut Your Utility Bills Thanks to Tax Cuts

13 January 2018

$200 million in tax savings to its customers this year. The utilities' tax rate was reduced from 35 percent to 21 percent.

PSC advocacy staff members, which represent customers in commission matters, asked the commission to initiate an investigation and request comments to determine the impact of the tax law. With the reduction in those costs as a result of the new tax bill, rate reductions could flow to MS customers.

Tax reform under then-President Ronald Reagan in 1986 "provided months for a commission to respond", Schuh wrote.

Utilities are reportedly required to pass on savings to customers as their cost of providing these services falls.

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Utility regulators in Washington state have directed regulated companies to track federal tax savings that results from the passage of the Tax Cuts and Jobs Act to ensure the savings will benefit utility customers, according to the Washington Utilities and Transportation Commission. "We look forward to working with the PSC to participate in their proceeding examining the issue and any effects the law may have on rates".

Commissioner Julie Fedorchak said corporate taxes figure directly into the rates the utilities charge.

Southern District Commissioner Sam Britton said, "Simply put, this tax reduction means a rate reduction for ratepayers".

Utility Companies Cut Your Utility Bills Thanks to Tax Cuts