Kansas utilities studying possible impact of tax cuts
TOPEKA, Kan. (AP) — The Kansas Corporation Commission is studying how recently enacted federal tax cuts could affect public utilities.
The KCC on Thursday announced the general investigation and ordered utilities to track all savings from the tax cuts and to keep those funds in a separate interest-bearing account.
The tax cuts reduce the federal corporate income tax rate from 35 to 21 percent.
The commission’s announcement came after Westar Energy, Kansas City Power and Light, and Black Hills Energy announced they will ask for regulatory approval to lower their rates because of the tax cuts.
The Lawrence Journal-World reports KCP&L expects to save up to $100 million a year, while Westar anticipates it will save about $65 million a year. Black Hills did not say how much it anticipates saving.
Information from: Lawrence (Kan.) Journal-World, http://www.ljworld.com