But are they going to pass the savings on to consumers?
Six weeks ago Washington passed a massive tax bill giving billions of dollars to multi-million dollar corporations across the country. Over the last week almost half a dozen utility companies have announced plans to pass the savings on to consumers. Georgia Power however has remained steadfastly silent on what one of the nation’s largest electric companies plans to do with the financial windfall.
“These tax cuts and savings to the utility’s bottomline should be reflected in lower gas and electric bills here in Georgia.” said consumer advocate and energy efficiency company owner John Noel. “Without action by Georgia Power Company and the Public Service Commission, the utility will reap windfall profits and ratepayers gouged. That’s why I’m calling on the PSC to immediately open docketed proceedings for the purpose of lowering utility rates.”
“I believe the PSC staff, which has worked hard to represent the public interest, will want to take action on this issue,” Noel said. “But the commissioners are notorious for ignoring staff recommendations, as they showed us last month, when they voted unanimously to do what Georgia Power wanted: complete Plant Vogtle, no matter the cost.”
Noel pointed to recent news reports stating that electric utilities in Washington, D.C., Massachusetts, Illinois, Oregon and other states plan to lower their rates as a result of lower Federal corporate taxes. Noel is an Atlanta area Democrat and is running for the PSC post currently held by Republican Chuck Eaton.