Idaho Power Requests Rate Decrease Following Windfall From Corporate Tax Break 

click to enlarge KELSEY HAWES
  • Kelsey Hawes
Idaho Power has requested approval to lower customer rates as a reflection of benefits that the utility said it has received from the Tax Cuts and Jobs Act, the Republican-sponsored tax cut plan approved by Congress and signed into law by President Donald Trump in late December 2017. A main feature of the tax law was to reduce the federal corporate tax rate from 35 to 21 percent. As a result, Idaho Power officials say the tax cut triggered approximately $33.9 million in savings to the utility.

If approved by the Idaho Public Utilities Commission, Idaho Power officials say the impact would be an approximate $2.15 savings per month of a typical residential customer using 950 kilowat-hours per month.

The PUC has the final say on the proposed rate decrease, but if approved, it would go into effect Friday, June 1.
Pin It


Comments are closed.

More by George Prentice

Submit an Event

© 2019 Boise Weekly

Website powered by Foundation