The Federal Energy Regulatory Commission (FERC) recently approved a request by American Transmission Company (ATC) to reduce their customer rates to reflect savings from the lowered corporate tax rate implemented in the 2017 Tax Cuts and Jobs Act.
The waiver granted by FERC allows ATC to modify certain provisions of the Midcontinent Independent System Operator (MISO) Tariff, which determines how transmission customers are charged for transmission services. ATC transmission customers will save approximately $50 million as a result of the changes.
MISO requires that transmission rates for each year be set in the fall of the previous year. ATC’s 2018 transmission rates were decided before the Tax Cuts and Jobs Act went into effect Jan. 1. Without the waiver, rates would not have been reduced until 2019.
ATC, along with other transmission owners in MISO, filed the petition for the waiver with FERC on Feb. 1.
New ATC network transmission rates will be implemented for the March billing cycle, and ATC customers will receive billing adjustments for January and February in April.
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