january 9, 2018
corporate tax cut savings lead aps to request decrease in customer bills
PHOENIX – APS has requested the Arizona Corporation Commission approve a
$119 million bill reduction for customers, based on federal corporate tax cuts,
effective February 1, 2018.
If approved, the $119 million decrease will offset the $95 million
revenue increase that resulted from APS’s last rate review. The savings of
$0.004258/kWh will be passed directly to customers through the Tax Expense
Adjustor Mechanism (TEAM), a new adjustor mechanism that was included in the
company’s rate review, and customer savings will vary with actual energy usage. APS customers would receive the credit on
their monthly bill.
Authorized adjustors reset each year and will impact customer bills
throughout 2018. Bill impact of adjustors
will vary with actual energy usage and service plan. APS anticipates additional
tax cut savings will be available at a later date once the full impact of the
new law is realized. For additional
information on how to reduce energy usage, customers can visit aps.com.
APS serves about 2.7 million people in 11 of Arizona’s 15
counties, and is the Southwest’s foremost producer of clean, safe and reliable
electricity. Using a balanced energy mix that is nearly 50 percent carbon-free,
APS has one of the country’s cleanest energy portfolios, including both Palo
Verde Generating Station and renewable energy. The company is also a proven
leader in introducing technology and services that offer customers choice and
control over their energy consumption. With headquarters in Phoenix, APS
is the principal subsidiary of Pinnacle
West Capital Corp. (NYSE: PNW).