APS customers start receiving third phase of federal tax reform savings
PHOENIX – APS has once again lowered customer rates as a result of federal tax reform. As recently approved by the Arizona Corporation Commission, this month APS started returning the third phase of savings to customers related to federal corporate tax cuts.
Customers are receiving a one-time bill credit applied to all kilowatt hours billed in August, September and October 2019. This credit appears on December bills as a line item called TEAM One-time Adjustment. In addition, more savings from this third phase will be included on customers’ future bills in the existing credit line item called Tax Expense Adjustor. Each customer’s savings will vary based on actual energy usage.
Customers started receiving these tax savings in March 2018, and a second wave took effect beginning with their bills in April 2019. The third wave starting this month marks the final set of savings customers will receive through bill credits thanks to federal tax reform.
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