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Energy suppliers like Washington’s Pepco, Baltimore Gas and Light, Pacific Power, Rocky Mountain Power and Commonwealth Edison said they plan to give hundreds of thousands of customers a rate cut due to the tax reform.
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In one announcement typical of those from the utilities sharing their tax benefits, Pacific Power said, “The benefit of this tax cut should be passed on to our customers – and we will work with our regulators and stakeholders on the best way to do that.”
Utilities are regulated by states and are REQUIRED to report any unexpected income and to REFUND same to their users. This is not a sign of largesse on the part of any public utility.
Utilities are regulated by states and are REQUIRED to report any unexpected income and to REFUND same to their users. This is not a sign of largesse on the part of any public utility.
So why aren't they all doing it?
Because this is not unexpected income. Their income did not change. Their taxes changed.
Meanwhile, here in Wisconsin our power rates are going up to pay for the extension of power to the private company Foxconn that WI taxpayers are paying to relocate here. We get to pay twice! Yay! Thanks, Koch Bros, I mean Scott Walker.
I wish mine in Missouri would too- our rates have recently increased for some utilities!
Usually in the winter I don’t have to touch my thermostat at all. I feel like I’m adjusting it constantly this winter
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