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APS customers will soon see an average reduction of $5.40 on their monthly bill as a result of $119 million in federal corporate tax cuts
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PHOENIX — APS customers will soon see an average reduction of $5.40 on their monthly bill as a result of $119 million in federal corporate tax cuts.
Anticipating federal tax reform, APS included a new adjustor in the company’s most recent rate review to pass savings directly back to customers.
These savings exceed the $95 million revenue increase from APS’s 2017 rate settlement.
Last week, the Arizona Corporation Commission approved this refund of $0.004912 per kWh beginning with March bills.
The refund will appear as a line item on customer bills called the Tax Expense Adjustor Mechanism (TEAM).
The calculation is based on energy usage (kilowatt-hour) and will vary month to month and customer to customer. APS expects to refund customers additional savings from federal tax reform later this year, subject to the full impact of the new law and approval by the Arizona Corporation Commission.
Information about how to reduce energy and the service plan that best meets the unique needs of each customer is available at aps.com.
