Advertisement

Massachusetts orders utilities to lower rates after tax cut

Massachusetts orders utilities to lower rates after tax cut

February 03, 2018 03:52 PM

BOSTON (AP) - State regulators are ordering Massachusetts utilities to lower their rates to reflect the reduction in the federal corporate tax rate approved by Congress.
    
The Department of Public Utilities on Friday instructed the utilities to account for any revenues associated with the difference between the previous and current federal corporate tax rates.
    
The agency also ordered the utilities to submit by May 1 their proposals to lower their rates to incorporate the reduction in the federal corporate tax rate.
    
Democratic Attorney General Maura Healey called the DPU decision "a huge victory for ratepayers" and said the agency had agreed with her office that all utility companies in Massachusetts must use the corporate savings from this federal tax bill to lower rates for customers.
    
Eversource had already agreed to lower their rates.

Advertisement – Content Continues Below

Credits

AP

(Copyright 2018 by The Associated Press. All Rights Reserved.)

Advertisement
Relay Media Amp
Advertisement
Advertisement
Cuomo: Felons in prison shouldn't be allowed to vote

Missing Illinois boy's buried body found, parents charged

Lawmakers divided on issuing driver's licenses to immigrants here illegally

US measles cases hit highest mark in 25 years

No verdict yet in Saratoga County murder trial

Advertisement