To the editor: Recently, the Public Utility Commission (PUC) made a decision that will save Pennsylvanians at least $320 million annually.
Under the federal Tax Cuts and Jobs Act of 2017, the corporate Federal Income Tax (FIT) rate was slashed from 35 to 21 percent. The FIT is considered as customer utility rates are being established.
I, along with several other legislative leaders, lobbied hard for the PUC to issue a ruling that would require utilities to take this lower tax rate into consideration as they establish their rates for customers.
In a recent unanimous vote, the PUC Commissioners will now require 17 major electrical, natural gas, water and wastewater utilities to provide a monthly credit on customer bills, starting July 1. With this decision, Pennsylvania has joined many other states in making this a requirement.
Again, ratepayers statewide will soon start to see a savings of at least $320 million annually. On behalf of all Pennsylvanians. I want to thank PUC Chair Gladys Brown and the other commissioners for making this common sense, consumer-friendly decision.
Very truly yours,
John R. Gordner
(Gordner is state senator for the 27th Senatorial District.)