Starting Friday, March 2, Arizona Public Service (APS) customers began seeing an average reduction of $5.40 on their monthly electric bill as a result of $119 million in federal corporate tax cuts, the company stated in a news release.
Anticipating federal tax reform, APS included a new adjustor in the company’s most recent rate review to pass savings directly back to customers. These savings exceed the $95 million revenue increase from APS’s 2017 rate settlement.
Last week, the Arizona Corporation Commission approved this refund of $0.004912 per kWh beginning with March bills. The refund will appear as a line item on customer bills called the Tax Expense Adjustor Mechanism (TEAM). The calculation is based on energy usage (kilowatt-hour) and will vary month to month and customer to customer.
APS said it expects to refund customers additional savings from federal tax reform later this year, subject to the full impact of the new law and approval by the Corporation Commission.
Arizona Corporation Commission to consider proposed code of ethics
PHOENIX (AP) — The Arizona Corporation Commission is expected March 13 to consider a proposed code of ethics for the five-member utility regulatory body.
The code proposed Wednesday by Commissioner Boyd Dunn covers topics such as conflicts of interest, harassment, financial disclosure and public access to information.
Dunn led three workshops to get input from commissioners and others on what the code should include, and he asked that any comments be filed with the commission’s docket by March 9.
The proposal’s docket number is AU-00000E-17-0079.
More like this story
- ACC rules APS settlement agreement is in public interest
- Some utility rates could go down after US corporate tax cuts
- Arizona in Brief: FBI says man dead in Oak Creek Canyon shooting involving Forest Service officer
- Utility customers receive credit: UniSource to refund overcharge
- <I>Utility bills remain static</I><BR>Natural gas costs see slight dip, while propane remains on the rise