Wisconsin’s investor-owned utility companies must give a total of $130 million to their customers in the form of credits on their July bills followed by monthly reductions, the Wisconsin Public Service Commission has ruled in a preliminary decision.
The proposed July bill credit represents the first six months of tax savings the utilities will have amassed since Congress passed major changes to the tax code in late 2017, lowering the corporate tax rate from 35 percent to 21 percent.
“Every customer of an investor-owned utility (in Wisconsin) will receive some sort of bill credit,” said PSC spokesman Matthew Spencer.
Specific amounts were not provided as part of the PSC’s oral decision last Thursday so it is not clear yet how big each customer’s credit will be. The amounts are expected to be included in the three-member panel’s written decision when it is released in a few weeks.