SALT LAKE CITY, Utah – Chris Parker, Director of the Utah Division of Public Utilities, announced today that federal tax savings filed by Rocky Mountain Power with the Public Service Commission were approved and will now provide an ongoing annual $61 million credit to Utah ratepayers. The rate change reflects a decrease in Rocky Mountain Power’s federal tax liability as a result of federal tax legislation passed by Congress in December. According to the Division of Public Utilities, Rocky Mountain Power customers will save 3.45% or $32.00 per year on average.
“The Public Service Commission ordered Rocky Mountain Power to start passing on savings to consumers beginning May 1, 2018,” stated Chris Parker, Division Director. “Future filings next month are projected to pass on additional annual savings to Utah consumers so this is good news for our State.”
The credit will remain until it is included in Rocky Mountain Power’s next general rate case. For the remainder of 2018, that credit will be slightly higher to reflect Rocky Mountain Power’s tax savings between January 1 and April 30. Rocky Mountain Power will file an update with the Public Service Commission in June that could result in additional savings for Utah customers, helping keep rates affordable. The Division of Public Utilities will continue to advocate that rates reflect the costs of service, allowing customers to receive the benefit of tax changes as soon as Rocky Mountain Power
About the Division of Public Utilities: The Division of Public Utilities is part of the Utah Department of Commerce and makes recommendations to the Utah Public Service Commission for rate-making purposes, applications, hearings and other issues affecting quality of service. The Division investigates consumer complaints and monitors utility operations to ensure compliance with Public Service Commission rules, regulations and orders.