Federal tax reform could soon bring relief to LG&E customers
The brutally cold January on record brought snow, below freezing temps and outrageously high utility bills for many.
LOUISVILLE, Ky. (WDRB) -- The brutally cold January on record brought snow, below freezing temps and outrageously high utility bills for many. But thanks to the Federal tax reform under the Tax Cuts and Jobs Act, LG&E customers could get a break.
LG&E and KU Spokesman Chris Whelan said the company reached a settlement agreement with the Kentucky Public Service Commission to pass the tax savings on to customers, a savings of $180 million.
"For LG&E customers, it's roughly $86 million in savings," Whelan said. "For KU customers, it's $91 million in savings."
So if you use at least 957 kilowatt hours per month, starting in March, residential electric customers will save between 5.3 and 5.6 percent under the Environmental Surcharge.
"Then in April, they would actually see a line item in their bill that's a credit," Whelan said.
The Kentucky Public Service Commission still has to approve the measure.
"The way this winter has been, these savings will come at a key time for our customers," Whelan said.
The tax breaks would continue until April 2019.
Copyright 2018 WDRB Media. All rights reserved.