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

Thank you Donald Trump.  Since the tax relief/jobs bill was passed over one million Americans got at least a $1,000 bonus, millions more got pay raises and utilities are CUTTING rates to consumers since the corporate taxes went down.  New multi-billion plants are being built in North Carolina and Alabama.  None of this was part of the Trump plan—it is a result of the Trump plan.

  • 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,”

That is just some of the rate reductions—and those of us in California will alos get a part of the action.  While the Democrats resisted, the Republican governed on behalf of the people.  2018 is going to be a great year from jobs and families.

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

By Craig Bannister, cnsnews,  1/9/18

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.

 

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Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.