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Idaho Power Requests Rate Decrease Following Windfall From Corporate Tax Break

by

KELSEY HAWES
  • Kelsey Hawes
Idaho Power has requested approval to lower customer rates as a reflection of benefits that the utility said it has received from the Tax Cuts and Jobs Act, the Republican-sponsored tax cut plan approved by Congress and signed into law by President Donald Trump in late December 2017. A main feature of the tax law was to reduce the federal corporate tax rate from 35 to 21 percent. As a result, Idaho Power officials say the tax cut triggered approximately $33.9 million in savings to the utility.

If approved by the Idaho Public Utilities Commission, Idaho Power officials say the impact would be an approximate $2.15 savings per month of a typical residential customer using 950 kilowat-hours per month.

The PUC has the final say on the proposed rate decrease, but if approved, it would go into effect Friday, June 1.