Regulators give utilities final OK to use tax savings for storm costs

COLUMBUS, Ohio – State utility regulators in Ohio have rejected legal arguments by the state’s four big electric utilities seeking to avoid returning proceeds from the federal tax cut to.

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That same agreement also provided that customers would benefit from any tax savings def might realize from proposed federal tax reform. After federal tax cuts passed in late 2017, Duke Energy reached an agreement with the customer representatives that prevents adding the storm charge to bills by applying the new tax savings earlier than required.

Who pays for utility repairs from storm damage? You do, through higher rates Utility ratepayers eventually cover the costs for line crew overtime and costs for transporting, accommodating, feeding.

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It usually costs $15,000 to $20,000 after tax credits and can reduce your. That means that if the cost of energy doesn’t rise as quickly as the contracted lease payments increase, your savings.

Washington state regulators: Pass corporate tax cuts on to customers of investor-owned utilities .. The Washington push to pass on the tax savings to utility customers is part of a broader.

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The tax overhaul reduced the corporate rate from 35 percent to 21 percent and made other changes to tax rules Michigan regulators settle with seven utilities on tax savings – Electric Light.

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Settlements with Duke Energy Florida and Tampa Electric Co. would use tax savings to help the utilities cover the costs of Hurricane Irma in 2017.. plans to use tax savings to cover storm costs.

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Florida regulators OK utility use of tax savings to pay for hurricane damages. on a range of issues including what storm recovery costs should customers cover. The settlements approved this.

NextEra Energy, Inc. ‘s NEE subsidiary Florida Power & Light Company ("FPL") announced its plans to apply federal tax savings toward the.. to Use $1.3B Tax Savings to Recoup Storm Costs..