SWEPCO bills to decrease due to federal tax cuts

The tax cut will save customers over $24 million

SWEPCO bills to decrease due to federal tax cuts
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SHREVEPORT, La. (KSLA) - Good news for SWEPCO customers.

You soon will have to pay less, that’s right, less on your monthly electricity bill.

At least, it will be that way for three months.

The 211,307 or so customers of Southwestern Electric Power Co. will see a $13 reduction in their monthly bills from August to October, according to District 5 Louisiana Public Service Commissioner Foster Campbell.

The temporary decrease comes as a result of the Tax Cuts and Jobs Act that Congress enacted at the end of 2017, which lowered the nation’s corporate income tax rate to 21 percent. It had been 35 percent.

The cut will save SWEPCO’s Louisiana customers more than $24 million over the three-month span, officials said.

So what happens after October?

Customers will see reduction of $3.03 per month from November 2019 to July 2020.

“We are pleased to pass along these substantial tax-related savings to Louisiana customers,” said Malcolm Smoak, president and CEO of SWEPCO.

The “TCJA Refund” will be a line item on bills starting next month, he added.

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