Hunter Voices Approval of Corporation Commission Utility Tax Break Decision

While he didn’t get his first choice of an immediate rebate, Attorney General Mike Hunter is generally pleased the Oklahoma Corporation Commission is creating a pathway for utilities to share a federal tax break with ratepayers. The Commission made the decision Tuesday on Hunter’s motion asking for a reduction in customer utility rates.

Utility companies now are required to track the savings they receive from the corporate income tax rate being reduced from 35 percent to 21 percent. They will also create an account for the savings and refund them to customers after a review by the Corporation Commission later.

Hunter said he hopes the Commission’s decision will ultimately lead to money back in the pockets of Oklahomans.

“We appreciate the commission acting quickly on our motions,” Hunter said. “While we would have preferred customers see immediate savings, putting the money aside and distributing it at a later date will give Oklahomans future relief.

“We hope the OCC will press forward without delay in completing its review of the amount to be refunded to customers, and in lowering customers’ rates going forward.

“The Utility Regulation Unit in the Attorney General’s Office remains committed to working with both the OCC and the utility companies to ensure Oklahomans will see the full benefit of the companies’ tax relief.”

Utility companies have three days to file a motion for the commission to reconsider. However, utility companies must begin tracking customer savings immediately.

Print pagePDF pageEmail page


Copyright © The McCarville Report