Michigan Utilities Ordered to Report Impact of Lower Federal Taxes on Customers
Taking effect on January 1st is federal legislation that is expected to reduce federal taxes on utilities.
In connection with this law, the Michigan Public Service Commission has ordered all rate-regulated utilities to report the impact this law will have on their customers.
The Commission says that regulatory accounting is the most interesting topic to discuss, but the new law has the potential to significantly reduce the the federal taxes for the utilities.
They want to make sure that they have as much information as they can get regarding the change.
This is because the Commission wants to make sure that the savings are passed along to the customers.
The utilities have until January 19th to file their proposals on how they plan to return the savings.
The Commission will then decide how and when the savings will flow back to ratepayers.
This applies to Alpena Power Co.; Consumers Energy Co.; Detroit Thermal, LLC; DTE Electric Co.; DTE Gas Co.; Indiana Michigan Power Co.; Northern States Power Co.; Upper Peninsula Power Co.; Upper Michigan Energy Resources Corp.; Wisconsin Electric Power Co.; Presque Isle Electric and Gas Co-Op; Michigan Gas Utilities Corp.; and SEMCO Energy Gas Co.