Entergy Mississippi filed its preliminary plan for implementing tax reform. The formal plan will be filed in mid-March as part of the company’s annual rate filing. Entergy said that if the plan is approved by the Mississippi Public Service Commission, the multi-million dollars in tax savings will benefit customers in three ways:
· short-term bill credits,
· long-term rate reductions and
· alleviation of some future rate increases.
The changes are projected to begin this summer when usage and bills are typically at their highest. Based on its plan, Entergy Mississippi expects residential customer bills to drop more than $30 per month during July, August, and September, from a combination of lower-rates and short-term bill credits.
Without the tax reform, which reduced the corporate tax from 35 percent to 21 percent, substantial projects undertaken by Entergy to strengthen and modernize the grid would have required significant rate increases.
“We intend to ensure that our customers receive timely benefits from the new tax reforms,” said Haley Fisackerly, Entergy Mississippi president, and CEO. “The tax reduction will allow us to reduce rates, provide substantial bill credits and lower our customers’ bills during the high-usage summer months.”
