Cleco recently announced that its customers will see more than $84.5 million in savings over the next year as a result of the Tax Cuts and Jobs Act (TCJA).
Starting Aug. 1, the average Cleco customers will see a bill credit of approximately $14 a month for the next 12 months.
“Cleco has been accruing the TCJA savings and preparing to refund our customers,” Shane Hilton, president of Cleco Power, said. “Last month, our plan to credit customers over $84 million gained approval from the Louisiana Public Service Commission.”
TCJA decreased the corporate tax rate from 35 percent to 21 percent. Cleco provided the Louisiana Public Service Commission (LPSC) with a plan for how the savings could flow through to the company’s Louisiana customers.
“A ‘TCJA Bill Credit’ line item will appear on customer bills beginning August 2019 through July 2020,” Hilton said. “We thank the LPSC for their guidance and support to bring this benefit to our customers.”
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