WASHINGTON — U.S. Rep. Evan Jenkins, R-W.Va., is asking the Public Service Commission of West Virginia to make sure utility companies are passing along tax savings to consumers in connection with the December passage of the Tax Cuts and Jobs Act.
According to Appalachian Power Company’s filing with the PSC, the company plans to use its $235 million in savings to mainly offset to company’s fuel and vegetation program, setting aside only $19 million to reduce the company’s base rate from $115 million to $96 million.
Appalachian Power also would set aside $30.1 million to return to customers over the next three years.
In a letter to PSC Chairman Michael Albert, Jenkins said utility companies in every state except West Virginia and Tennessee have announced relief savings to their customers.
“The intent of our legislation was to benefit working-class families, seniors and small businesses, ensuring they see the positive impacts of tax reform,” he said. “Utility companies should not sit on their customers’ money but instead pass these savings along to the consumer.”
Response filings from the PSC and other parties are due July 2.