SALT LAKE CITY (AP) - Utah’s largest electric utility has been granted permission to pass on its federal tax savings to its customers.
The Salt Lake Tribune reports state regulators are allowing Rocky Mountain Power to pass on its savings in the form of credits that will offset electrical rates for customers.
According to the Utah Division of Public Utilities, the credits are expected to reduce an average customer’s electric bill by 3.45 percent, equaling about $32 per year.
The savings are expected to reach customers this month.
The utility’s savings were a result of the federal tax overhaul that Congress pushed through in December.
Division director Chris Parker says the utility is also considering refunding customers for taxes it prepaid that it may no longer owe.
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Information from: The Salt Lake Tribune, http://www.sltrib.com
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