Entergy Arkansas, Inc. filed with the Arkansas Public Service Commission (APSC) this week its plan to address federal tax reductions resulting from the Tax Cuts and Jobs Act (TCJA).
The company’s plan calls for bill reductions beginning in April of this year, which will save customers a total of $466 million.
If the APSC approves the plan, residential customers will see a reduction of approximately $20 per month for every 1000 kWh consumed from April 2018 to December 2019.
“When tax reform was passed, Governor Asa Hutchinson asked that the Arkansas Public Service Commission work with utilities to pass those benefits to customers as quickly as possible,” Rick Riley, Entergy Arkansas president and CEO, said. “Entergy Arkansas has worked with its stakeholders, including Arkansas Attorney General Leslie Rutledge, who has expressed a similar desire, to meet this objective. If approved, the plan submitted will allow Entergy to provide the tax reform benefits to customers beginning as early as April of this year. The tax reduction will allow us to provide substantial bill credits to all customers for a significant period of time.”
Other impacts of the TCJA are being considered in a docket opened by the APSC.
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