CHARLESTON, W.Va. (AP) — The West Virginia Public Service Commission has approved rate reduction settlements for utility companies totaling almost $85 million annually starting next month.

The PSC also Friday approved eliminating about $151 million in recoverable costs that would have been included in surcharges increases or rate cases currently before the commission.

The commission also approved agreements that will provide more than $400 million to be credited to future customer rates from tax reform savings.

The PSC earlier directed all privately owned utilities to track monthly savings from tax reform.

Settlements approved Friday were for Appalachian Power, Wheeling Power, Monongahela Power, Potomac Edison, Mountaineer Gas, Beckley Water and West Virginia American Water.