PUEBLO, Colo. – May 1, 2019 — Black Hills Energy’s Southern Colorado electric utility customers are seeing additional benefits of the federal corporate tax rate reduction from 35 percent to 21 percent on April bills. The utility notified the Colorado Public Utilities Commission (PUC) that it’s delivering the remaining tax savings stemming from the Tax Cuts and Jobs Acts in the form of a one-time credit.
Black Hills issued the credit, calculated using a PUC-approved rate structure, to all customer groups. The benefits will vary based on customer type and usage; the average residential customer credit is $16.79; $34.38 for small commercial; $910.29 for large commercial; and $32,229.79 for industrial. Customers are encouraged to check bills online and contact Customer Service at 888-890-5554 with any bill credit inquiries.
Last year, Black Hills requested approval from the PUC to reduce rates and deliver the tax benefits to customers. The reduced rates were implemented on July 1, 2018 and were reflected in a general rate schedule adjustment (or GRSA), a line item for implementing tax benefits on customer bills. To account for additional cost savings in 2018, Black Hills issued the remaining one-time bill credits, for a total of $6.1 million credited to customers.
“As intended, we’re proud to pass along every bit of savings from the Tax Cuts and Jobs Act to our customers,”
“As intended, we’re proud to pass along every bit of savings from the Tax Cuts and Jobs Act to our customers,” said Vance Crocker, vice president of electric operations for Southern Colorado. “We appreciate the PUC working with us to get the benefits of corporate tax cuts into the hands of customers via their energy bills as quickly as possible.”