PA Utility Consumers to Get Tax Savings Refund from Feds


>>PA Utility Consumers to Get Tax Savings Refund from Feds

(Harrisburg, PA) -- Multiple utility companies across Pennsylvania will receive a tax savings refund a total of nearly 62-million-dollars. The money comes from the federal Tax Cuts and Jobs Act of 2017 [[ TCJA ]]. Several utilities had asked the Pennsylvania Public Utility Commission to approve the funds for distribution and the commission did so Thursday. Peoples Gas, Penn Power, Met-Ed, Penelec and West Penn Power all filed petitions for the tax savings that had accumulated from January through June of 2018, along with interest. The commission noted, however, that the savings being returned to customers during 2022 will temporarily increase the utilities' current TCJA surcharge/credit, which are also being used to return ongoing tax savings to customers.


Sponsored Content

Sponsored Content