WLKM Radio 95.9 FM
Regulatory commissions in both Indiana and Michigan have now incorporated savings generated by the federal Tax Cut and Jobs Act into the bills of Indiana Michigan Power customers.
The Michigan Public Service Commission approved bill credits this week totaling $8.7 million for Michigan customers. The bill credit resulting from the federal corporate tax cut will provide a savings of $3.64 per month for a typical residential customer who uses 1,000 kiloWatt hours of energy per month.
The MPSC established a three-step process for the credits. The reduction approved this week will credit customers for the impact of the tax cut from Sept. 1 going forward. In September, Michigan customers will receive pro-rated bills, and the full amount of the credit will show up in October billing statements. Two additional adjustments of lesser amounts connected to the corporate tax cut will be determined later.
