Another Plus of GOP Tax Bill, No Thanks to CT Dems: Your Utility Bills Could Go DownJanuary 11, 2018
AVANGRID is passing "the full benefit of any tax savings" on to customers. Other utilties are talking about rate cuts. It's all thanks to GOP tax cuts.
If you see your utility bills go down this winter, despite the bitter cold and difficult weather, you may have the GOP tax bill to thank.
AVANGRID, which serves hundreds of thousands of customers in Connecticut and beyond, announced on Wednesday that it is passing “the full benefit of any tax savings that the companies realize” on to customers.
AVANGRID’s regulated natural gas and electricity companies will pass along to customers the full benefit of any tax savings that the companies realize as a result of the 2017 federal tax reform act.
Among other changes, the tax reform act reduces the federal corporate tax rate from 35 to 21 percent. As a matter of fairness, AVANGRID believes that any resulting tax savings should be extended to customers.
AVANGRID is not the only utility in Connecticut considering rate cuts. Hartford Business reported on Thursday:
The amount of money in play for Connecticut ratepayers could be somewhere between $75 million and $100 million, according to initial estimates from the Office of Consumer Counsel (OCC), though the exact amount is yet to be determined by PURA, which is looking into rates of 15 electric, gas and water companies.
…An unknown portion of the savings could be returned to customers in the
form of lower rates or credits, while some may be used for programs that benefit ratepayers, including projects that make infrastructure more resilient during storms.
Who can Connecticut customers not thank for these savings? Connecticut Democrats. All seven members of Connecticut’s congressional delegation – Sens. Richard Blumenthal (D-Conn.) and Chris Murphy (D-Conn.), and Reps. John Larson (D-Conn.), Joe Courtney (D-Conn.), Rosa DeLauro (D-Conn.), Jim Himes (D-Conn.), and Elizabeth Esty (D-Conn.) – voted against the bill.
Time will tell if these Democrats will say anything positive about the rate cuts that result from a bill they voted against.
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