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PSC wants tax savings for utilities passed on to consumers

PSC wants tax savings for utilities passed on to consumers”

Corporate tax rates went from 35 percent to 21 percent, effective January first.

"Unless the Commission adjusts the Public Utilities' revenue requirements to reflect this federal corporate income tax reduction, utility customers nationwide will be overpaying for their electric and gas service by hundreds of millions of dollars", a letter from the coalition states.

"This tax reduction may provide an opportunity to reduce the rates to North Dakota customers", said Commissioner Brian Kroshus.

"Investor-owned utilities expect to see reduced taxes as a result of the tax legislation, and we expect them to pass those benefits on to Washington customers", UTC Chairman Dave Danner said in the release.

"We are now analyzing the impact of the tax changes on the cost of service to our customers, and are committed to ensuring that customers benefit from the new tax law", Xcel Energy said in a statement.

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Customers will not see immediate reduced rates or bill credits.

"It's not a question in my mind of if there will be savings to the individual rate payers, it's just how much and when", said Britton.

Two energy companies, Avista and Cascade Natural Gas, have rate cases pending before the commission, which will take into account tax-related changes.

The Republican tax plan passed Congress late past year before President Donald Trump signed it just before Christmas. The UTC will assess these filings and incorporate the results into future rate cases. This reduction will impact numerous UTC's regulated companies. It does not regulate internet or broadband services, which are regulated by telecommunications companies.

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