Utilities to calculate tax savings; ratepayers could benefit
January 11, 2018
BISMARCK, N.D. (AP) — North Dakota's Public Service Commission has ordered four public utilities to calculate savings from reductions in federal corporate income tax rates.
The three-member, all-Republican panel took the action Wednesday, with an aim of potentially returning some money to ratepayers.
The utilities involved are Montana-Dakota Utilities Co., Great Plains Natural Gas Co., Otter Tail Power Co. and Xcel Energy. The companies have until Feb. 15 to submit their calculations.
The Republican tax plan that President Donald Trump signed into law last month includes a reduction in the highest corporate tax rate from 35 percent to 21 percent.
The PSC says the tax reduction "may provide an opportunity to reduce the rates to North Dakota public utility customers."