Corporate Tax Cut Savings Lead APS to Request Decrease in Customer Bills
January 09 2018 - 5:38PM
Business Wire
APS has requested the Arizona Corporation Commission approve a
$119 million bill reduction for customers, based on federal
corporate tax cuts, effective February 1, 2018.
If approved, the $119 million decrease will offset the $95
million revenue increase that resulted from APS’s last rate review.
The savings of $0.004258/kWh will be passed directly to customers
through the Tax Expense Adjustor Mechanism (TEAM), a new adjustor
mechanism that was included in the company’s rate review, and
customer savings will vary with actual energy usage. APS
customers would receive the credit on their monthly bill.
Authorized adjustors reset each year and will impact customer
bills throughout 2018. Bill impact of adjustors will vary with
actual energy usage and service plan. APS anticipates additional
tax cut savings will be available at a later date once the full
impact of the new law is realized. For additional information on
how to reduce energy usage, customers can visit aps.com.
APS serves about 2.7 million people in 11 of Arizona’s 15
counties, and is the Southwest’s foremost producer of clean, safe
and reliable electricity. Using a balanced energy mix that is
nearly 50 percent carbon-free, APS has one of the country’s
cleanest energy portfolios, including both Palo Verde Generating
Station and renewable energy. The company is also a proven leader
in introducing technology and services that offer customers choice
and control over their energy consumption. With headquarters in
Phoenix, APS is the principal subsidiary of Pinnacle West Capital
Corp. (NYSE: PNW).
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version on businesswire.com: http://www.businesswire.com/news/home/20180109006807/en/
APSMedia Contact:Anna Stewart, 602-250-2104Analyst
Contact:Stefanie Layton, 602-250-4541Website: aps.com/newsroom
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