PHOENIX (3TV/CBS 5) – Some utility customers will see a smaller bill.
Starting March 2, customers with Arizona Public Service, or APS, will start seeing an average reduction of $5.40 on their monthly bills, the company said.
These reductions are a result of $119 million in federal corporate tax cuts.
[RELATED: APS wants to lower customers’ rates thanks to federal tax overhaul]
According to APS, in anticipation of federal tax reform, the company included a new adjustor in their most recent rate review to pass savings directly back to customers. The savings exceed the $95 million revenue increase from the company’s 2017 rate settlement.
[READ MORE: Trump signs tax bill before leaving for Mar-a-Lago]
“The Arizona Corporation Commission approved this refund of $0.004912 per kWh beginning with March bills. The refund will appear as a line item on customer bills called the Tax Expense Adjustor Mechanism (TEAM),” said APS in a statement. “The calculation is based on energy usage (kilowatt-hour) and will vary month to month and customer to customer. APS expects to refund customers additional savings from federal tax reform later this year, subject to the full impact of the new law and approval by the Arizona Corporation Commission.”
[RELATED: New changes coming to APS customer billing plans]
Customers can find information about how to reduce energy and which service plan best meets their unique needs at aps.com.
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