AARP Delaware Applauds Utility Regulators For Passing Federal Tax Savings To Consumers

AARP Delaware is applauding the Delaware Public Service Commission for taking swift action to lower the rates that homeowners and businesses are charged for electricity, natural gas and other utilities after a federal tax overhaul took effect on Jan. 1.

Recent changes to federal tax law reduced the corporate tax rate from 35 percent to 21 percent. In Delaware, The Public Service Commission recently approved a petition from the state’s Public Advocate to ensure that those tax savings will translate into reduced rates for consumers. More specific numbers on savings for customers are expected by March 31, 2018.

“The savings for utilities and more than 900,000 Delawareans under the new tax law is substantial,” said State Director Lucretia Young. “I applaud the Public Service Commission for moving swiftly to ensure that the much-lower federal tax obligations of utilities are immediately passed along to consumers.”

In Delaware and throughout the country, AARP is a strong and effective voice that works to save consumers money and to ensure that utility costs are affordable and fair to consumers.

Attorneys general, consumer advocates, and utility regulators in several states are looking into the tax savings matter, and many regulators are allowing utilities to collect existing rates while they calculate changes in their tax liability.

Young also noted that there’s plenty of opportunity now to save consumers money each month.