Vectren Customers Will See Lower Energy Bills In 2018 Thanks To Tax Cuts
INDIANAPOLIS -- You'll be paying less if you're a Vectren customer this year thanks to the newly enacted federal tax legislation.
The Tax Cuts and Jobs Act, which decreased the corporate tax rate from 35 percent to 21 percent, was signed into law last year.
Initial estimates suggest that for Vectren electric customers the Federal tax reduction will reduce electric costs by $70 to $90 per year.
"Customers’ bills include the cost of income taxes and it only makes sense customers should directly benefit from this reduced cost resulting from the new, lower tax rate,” said Mike Roeder, president of Vectren Energy Delivery of Indiana - North. “We continue to work with our regulatory agencies to ensure that the impact of lower Federal taxes is passed on as quickly as possible."
Vectren customers who also have natural gas service will see an additional decrease between $20 to $35 on the gas portion of their energy bill.
Vectren says the reductions comes after the Indiana Untility Regulatory Commission released new guidelines on how utility companies can change their rates based on the federal tax cuts.
(PHOTO: Fred Tannau/Getty Images)