PSC: Utility ratepayers should benefit from new federal tax
BISMARCK, N.D. (AP) — North Dakota’s Public Service Commission says utility ratepayers may see some lower bills due to reductions in federal corporate income tax rates.
The three-member, all-Republican panel last month ordered four public utilities to calculate savings from their federal corporate income tax rates.
The utilities involved are Montana-Dakota Utilities Co., Great Plains Natural Gas Co., Otter Tail Power Co. and Xcel Energy.
State regulators earlier approved temporary rate increases for MDU and Otter Tail. Under state law, utilities may collect temporary increases while the PSC studies their request for a rate hike.
MDU and Otter Tail already have submitted plans to slightly decrease their proposed rate increases. PSC members say their final action on the utilities’ calculations won’t be completed until late summer or early fall.