Entergy to return millions in tax savings to customers

Entergy to return millions in tax savings to customers
Entergy Mississippi announced Wednesdays that customers will see more than $300 million in benefits under a plan approved by the Mississippi Public Service Commission. (Photo source: WDAM)

Entergy Mississippi announced Wednesdays that customers will see more than $300 million in benefits under a plan approved by the Mississippi Public Service Commission.

"The plan, a result of the Tax Cuts and Jobs Act, will let us reduce future rates and provide prompt credits that will lower bills during the high-usage summer months," said Haley Fisackerly, Entergy Mississippi president and CEO. "It also lets us avoid a rate increase that would have resulted from nearly $1 billion in improvements we've made to strengthen and modernize the grid for our customers during the past three years."

The typical customer bill for 1,000 kWh will drop more than $12 per month from July through September under the plan, according to an Entergy press release. Of that, $7.59 comes from the tax reform.\

The Tax Cuts and Job Act reduced the corporate tax rate from 35 percent to 21 percent.