MADISON, Wis. (AP) — State regulators have ordered Wisconsin utilities to spread $130 million in credits among their customers because of savings stemming from the federal tax overhaul last year.
The changes reduced the federal corporate-tax rate from 35 percent to 21 percent. Utilities set their current rates by taking into account the previous, 35 percent rate.
The state Public Service Commission voted 3-0 on Thursday to order investor-owned utilities in Wisconsin to give their customers $130 million worth of credit.
A spokesman for the commission said the utilities will issue the credits in July. He said the panel is still calculating how large a credit the average individual customer should expect.