{"id":12941,"date":"2018-02-09T14:05:27","date_gmt":"2018-02-09T14:05:27","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=12941"},"modified":"2018-02-09T14:05:28","modified_gmt":"2018-02-09T14:05:28","slug":"utility-bills-may-getting-cheaper","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/utility-bills-may-getting-cheaper\/","title":{"rendered":"Utility Bills May Be Getting Cheaper"},"content":{"rendered":"

Utility Bills May Be Getting Cheaper<\/h2>\n
\"Utility<\/a>

Utility Bills May Be Getting Cheaper<\/p><\/div>\n

Utility companies will pay less tax\u00a0from a recent tax overhaul, and many are planning to pass those savings on to customers. Rate changes may shave a few dollars off the average customer\u2019s bill in the coming months, The Wall Street Journal<\/em> reports.<\/p>\n

The federal government slashed its corporate tax rate from 35 percent to 21 percent. Regulated gas and electric utilities will have to pay less tax, and some state authorities may give regulated utilities little choice but to return that tax savings to its customers, WSJ reports.<\/p>\n

Some regulated utilities will be refunding some of the tax payments they collected from customers based on the 35 percent rate. Companies may choose to issue refunds over several years, so the savings may be minimal for customers.<\/p>\n

For example, National Grid U.S., a utility holding company with subsidiaries in New York, Massachusetts, and Rhode Island, expects a non-cash tax credit of $2 billion in 2018 from the lower tax rate. \u201cIt\u2019s going to be returned to customers over a period of 20 to 30 years,\u201d Peggy Smyth, the company\u2019s finance chief, told The Wall Street Journal<\/em>.<\/p>\n

Some companies are using the tax savings to defray higher costs and prevent having to hike bills. For example, Florida Power & Light said it plans to use its savings to pay for $1.3 billion in recovery costs from Hurricane Irma. Customers may not see any reduction in utility bills, but it will spare them from any increases, the company said.<\/p>\n

Duke Energy Corp, with subsidiaries in North Carolina, is in the process of requesting permission\u00a0from local authorities to cut retail rates or use its tax savings to defray the cost of storm-related recovery efforts, WSJ reports.<\/p>\n

\u201cTax reform has presented us a unique opportunity to reduce customer bills in the near term, while also helping to offset future rate increases,\u201d says Steven Young, Duke Energy\u2019s finance chief.<\/p>\n

Source: \u201cAs Utilities Move to Pass Tax Savings to Customers, Credit Concerns Arise<\/a>,\u201d The Wall Street Journal (Feb. 7, 2018)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Utility Bills May Be Getting Cheaper Utility companies will pay less tax\u00a0from a recent tax overhaul, and many are planning to pass those savings on to customers. Rate changes may shave a few dollars off the average customer\u2019s bill in the coming months, The Wall Street Journal reports. The federal government slashed its corporate tax … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-12941","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nUtility Bills May Be Getting Cheaper - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/utility-bills-may-getting-cheaper\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/utility-bills-may-getting-cheaper\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/utility-bills-may-getting-cheaper\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Utility Bills May Be Getting Cheaper\",\"datePublished\":\"2018-02-09T14:05:27+00:00\",\"dateModified\":\"2018-02-09T14:05:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/utility-bills-may-getting-cheaper\\\/\"},\"wordCount\":355,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/utility-bills-may-getting-cheaper\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/02092018.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/utility-bills-may-getting-cheaper\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/utility-bills-may-getting-cheaper\\\/\",\"name\":\"Utility Bills May Be Getting Cheaper - 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