One of the biggest benefits of the Tax Cuts and Jobs Act is the savings to customers of utility companies. According to research conducted by Americans for Tax Reform these are the rate savings for utilities this year. This is a great reminder we have savings to be thankful for this year.
Arizona Public Service (Phoenix, Arizona)
The utility requested a $119 million bill reduction for customers due to tax reform. APS has requested the Arizona Corporation Commission approve a $119 million bill reduction for customers, based on federal corporate tax cuts, effective February 1, 2018.
If approved, the $119 million decrease will offset the $95 million revenue increase that resulted from APS’s last rate review. The savings of $0.004258/kWh will be passed directly to customers through the Tax Expense Adjuster Mechanism (TEAM), a new adjuster mechanism that was included in the company’s rate review, and customer savings will vary with actual energy usage. APS customers would receive the credit on their monthly bill. – Jan. 9, 2018 Arizona Public Service press release.