Historic Federal Tax Cuts Bring Utility Rates Under Scrutiny

Dozens of states want utilities to lower rates for electricity and natural gas services following the recently enacted federal tax law which slashed the corporate income tax rate to 21 percent from 35 percent at the start of the year. Sixteen states and consumer advocates wrote to the Federal Energy Regulatory Commission requesting prompt action for the cuts to be extended to customers, while 20 states are mulling rate changes tied to the new tax law.