SALT LAKE CITY — Rocky Mountain Power customers may see a reduction in their monthly bill thanks to changes in the tax code lowering federal taxes on corporations.
The Tax Cuts and Jobs Act, which was signed into law by President Donald Trump just before Christmas, cut the corporate tax rate in U.S. from 35 percent to 21 percent.
In a statement released Thursday, Cindy Crane, president and CEO of the company, said Rocky Mountain Power is committed to passing the benefit of the tax cut to its customers.2 comments on this story
"We strive to provide our customers reliable service while keeping rates low," Crane said in the statement. "The benefit of this tax cut should be passed on to our customers — and we will work with our regulators and stakeholders on the best way to do that."
Rocky Mountain Power said it will take some time before the company will be able to offer proposals on how best to pass the benefits to customers as the full impact of the tax change hasn’t yet been calculated. Also, any proposed changes, such as rate reductions, will then require the approval of the state public utility commission.