Delawareans should see lower utility bills after a state ruling that any benefit utility companies get from the federal tax cut must be passed on to customers. The move is in response to the Tax Cuts and Jobs Act of 2017 that Congress approved in December.
Following a petition from the state’s Public Advocate Drew Slater, the Delaware Public Service Commission has ordered the companies to pass on any savings to consumers.
“Today was a win for ratepayers,” Slater said. “With this order, we look forward to ensuring that Delaware ratepayers benefit from this corporate tax reduction in the form of lower rates for utility services statewide.”
The move will help reduce Delmarva Power’s proposed rate increase for both electric and natural gas. The company will now adjust those requests.
Utilities are ordered to a proposal for reducing rates by March 31.