Utilities Coast-to-Coast Announce Customer Rate Cuts Due to Tax Reform

CNSNews ^ | January 9, 2018 | Craig Bannister

[jazusamo]

Utility companies annouce plans to reduce
customers' energy costs. (Screenshot)

From Washington, DC to Washington state, utility companies are crediting passage of Republicans’ Tax Cut and Jobs Act for their plans to lower their retail customers’ monthly bills.

Company press releases announcing the rate-cut plans specifically cite “the decrease in the Corporate Tax Rate from 35 percent to 21 percent” as the reason for reducing energy rates.

The utility companies that have reported plans to cut rates, thus far, include:

• Pepco plans to lower the bills of 296,000 electric customers in the District of Columbia,
• Pepco and Delmava Power plan to pass on savings to their 500,000 electric customers in Delaware and Maryland and approximately 129,000 natural gas delivery customers in northern Delaware,
• Baltimore Gas & Electric is passing on $82 million worth of tax savings, which it says will reduce the average customer’s monthly combined natural gas and electric by $4.27,
• Pacific Power , which provides electricity to 740,000 customers in Washington, Oregon and California, announced a yet-to-be-determined rate cut due to lower corporate tax rate,
• Rocky Mountain Power announced plans a rate reduction, which it says “will take several months to calculate” to its 1.1 million customers in Utah, Wyoming and Idaho,
• Commonwealth Edison Company (ComEd) is passing on $200 million worth of tax savings to its four million customers in northern Illinois. “Residential customer can expect to see an estimated $2-$3 decrease on their monthly bill related to the tax reduction,” the utility says.

All rate cuts are dependent upon the approval of their respective state public service and commerce commissions.

[Slyfox]

The head of the Resistance is there on the left. Pillory just may be the order of the day.

[gogeo]

Utilities Coast-to-Coast Announce Customer Rate Cuts Due to Tax Reform

...thereby proving what many have said all along, that it's customers, not companies, that pay taxes.

[CatOwner]

California PUC (CPUC) is in on the action. Pretty much controlled by the DEMs. Here's an article from March 2017 just in Lake County that pretty much describes what goes on in California statewide:

http://www.record-bee.com/article/NQ/20170317/NEWS/170319846

Quotes: Local residential electricity users, already reeling from steep rate hikes in 2016, face a new round of rate increases from Pacific Gas and Electric (PG&E), starting with their April bills.

Clearlake Park resident Ben Weiss has an all-electric house and said he watched his electric bill skyrocket from $220 in December 2016 to $402 this January, nearly double, with no increase in usage.

Granted, this is a specialized case of an all-electric house, but the impact on all PG&E customers has been substantial.

[EEGator]

Thanks for the link.

If you live in the Northeast and have electric heating, your bills can be five to six hundred dollars in a cold winter month.

[oldvirginian]

“It’s like Christmas never ended.”

Three more years of this kind of winning is going to be awesome.

[PROCON]

"Two words....ARMAGEDDON!!"

[Magnum44]

LOL

[shotgun]

Pacific Power is owned by Warren Buffet. If they cuts rates it will be minimal.

[NorthMountain]

You got ValJar, the angry redhead (HC=[6,10]) in the center in Jen Psaki. The rest, I don’t recognize. They’re all 0bamorrhoids.

[ProtectOurFreedom]

PG&E will somehow use it as a reason to raise rates.

[mozarky2]

Please understand:taxes are a pass-through charged to the customer. Utilities aren’t doing the consumer any favors, they’re paying less taxes, so they’re collecting less taxes from their customers.

[Steven Scharf]

Generally, utility companies need approval for both increases and decreases in rates.

[George from New England]

But despite fema, Florida utilities to charge customers up to $400 for restoring power after hurricane Irma.

Rather than fema distributing millions in fraudulent food loss claims in Florida, they could in one easy swipe, help cover the utility cost of restoring power, now couldn’t they ?