PINE BELT (WDAM) - The federal income tax cut may also reduce utility bills.
The Mississippi Public Service Commission said The Public Utilities Staff will meet with companies like Mississippi Power, CenterPoint and Entergy to see how much of their corporate tax savings can be passed on to their rate payers.
The bill signed into law by President Trump cut the maximum corporate tax rate from 35 percent to 21 percent and Southern District Commissioner Sam Britton said those savings should go into the pockets of consumers.
"It's not a question in my mind of if there will be savings to the individual rate payers, it's just how much and when," said Britton. "And the Utilities Staff now has instructions from us for them to talk with each one of the utilities and start arriving at what that tax savings number is going to be."
Britton said members of power cooperatives should also see rate reductions, because co-ops purchase some of their power from investor-owned utilities.