The Mississippi Public Service Commission has requested that the Public Utilities Staff investigate possible rate reductions available to Mississippians due to the reduction in corporate income taxes as a result of the Tax Cuts and Jobs Act.
Investor-owned utilities pass their federal income tax charges along to their customers as a cost of providing service. With the reduction in those costs as a result of the new tax bill, rate reductions could flow to Mississippi customers. The utilities’ tax rate was reduced from 35% to 21%.
“Mississippi utility customers deserve to see their power and gas bills reduced when utilities’ costs are reduced. These dollars rightfully belong in the hands of Mississippi’s working families and businesses,” said Chairman Brandon Presley.
“Simply put, this tax reduction means a rate reduction for ratepayers,” Southern District Commissioner Sam Britton said. “And keeping more money in the pockets of Mississippians is a good thing.”
The Public Service Commission regulates telecommunications, electric, gas, water and sewer utilities. The agency is charged with assuring that rates and charges for services are just and reasonable, that the service rendered is reasonably adequate, and that any facilities constructed or acquired are required for the convenience and necessity of the public.