APS is seeking Arizona Corporation Commission approval to once again lower customer rates as a result of federal tax reform. This request will be the final of three adjustments related to federal corporate tax cuts. Once approved, this latest reduction will bring the overall savings from the tax expense adjustor to nearly $9 per month, or $108 a year, for a customer using the average amount of electricity.
Customers started receiving these tax savings in March 2018, and a second wave took effect beginning with their bills in April 2019. The savings will vary based on actual usage and appear on monthly bills as a line item called Tax Expense Adjustor. Additional savings from lower APS operating costs and an innovative energy trading program, combined with the tax reform reductions, are lowering bills $14 per month, or $168 a year, for the average electricity user compared to one year ago.
APS was one of the first companies to act on federal tax reform last year by passing the resulting tax savings back to customers, and its great to see those savings grow, said Stacy Derstine, APS Vice President of Customer Service. With triple-digit temperatures right around the corner, we encourage our customers to explore all the APS resources available to help them manage their bills. During our special 100 Days of Helping outreach effort we are striving to connect more customers to everything from ongoing bill discounts to balanced billing and energy savings tips before summer.
For APS customers who qualify financially, resources include the APS Energy Support Program, which provides a 25 percent discount on monthly energy bills, and Crisis Bill Assistance during a financial hardship like losing a job or facing an unexpected medical expense. All customers, however, can benefit from being on the best service plan for how they use energy, and most are eligible for Budget Billing, a consistent monthly charge that evens out the highs and lows of monthly bills for easier budgeting. More information about these programs and other helpful tips to manage monthly electricity bills can be found at aps.com/helping.
APS serves about 2.7 million people in 11 of Arizonas 15 counties, and is the Southwests foremost producer of clean, safe and reliable electricity. Using a balanced energy mix that is 50 percent carbon-free, APS has one of the countrys cleanest energy portfolios, including both Palo Verde Generating Station and renewable energy. The company is also a proven leader in introducing technology and services that offer customers choice and control over their energy consumption. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW).
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Media Contact: Suzanne Treviño, (602) 739-4955