Beshear, Coalition Seek Return of Utilities’ Tax Savings to Citizens

Attorney General Andy Beshear joined a bipartisan coalition of 18 state attorneys general, state agencies, and consumer advocates in calling on the federal government to ensure Kentuckians, not public utilities, receive the benefits of the recently reduced federal corporate tax rate. In the letter sent to the Federal Energy Regulatory Commission, Beshear is asking the federal commission to reduce the rates public utilities charge—including electric, natural gas, and oil companies—to ensure tax savings are passed on to Kentuckians. Beshear said Kentuckians were called upon to pay utility bills at the previous, higher tax rate, and now that the companies’ taxes are lower, all the savings should be returned immediately to each ratepayer. The coalition requested the federal commission open an investigation into the fairness of all applicable rates recovered by public utilities with respect to federal corporate income taxes.

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