Entergy Mississippi customers to benefit from tax savings
The Mississippi Public Service Commission (MPSC) has approved a plan clearing the way for Entergy Mississippi customers to see more than $300 million in reduced rates and credits as a result of the Tax Cuts and Jobs Act.
Officials said that under the plan, the typical residential customer bill for 1,000 kWh will drop more than $12 per month from July through September, noting of that amount, $7.59 stems from tax reform.
The remaining $5.05 is from an MPSC fuel order last January designed to reduce bills during the hot summer months, officials said. That portion will remain in effect through February 2019.
“It also lets us avoid a rate increase that would have resulted from nearly $1 billion in improvements we’ve made to strengthen and modernize the grid for our customers during the past three years,” Haley Fisackerly, Entergy Mississippi president and CEO, said.
Entergy Mississippi provides electricity to approximately 449,000 customers in 45 counties, as an integrated energy company engaged primarily in electric power production and retail distribution operations.
Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power, delivering electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas.
The Tax Cuts and Job Act reduced the corporate tax rate from 35 percent to 21 percent.
