(Bloomberg) -- Sweeping U.S. tax cuts could pave the way for “sizable deductions” in electricity rates and the nation's main energy regulator will make sure utility customers don't lose out.
Rate payers stand to benefit to the tune of $80 to $90 a year from the tax bill signed into law by President Donald Trump last month, according to Robert Powelson, who sits on the Federal Energy Regulatory Commission. Formulas used to calculate rates for natural gas and power transmission must be just and reasonable, he said at the agency's regular monthly meeting in Washington.
The commission urged utility regulators to take action to guarantee that tax savings are passed to customers without delay and said it would do its part to ensure rate changes are approved.
To contact the reporter on this story: Catherine Traywick in Washington at ctraywick@bloomberg.net.
To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Stephen Cunningham, Steven Frank
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