FirstEnergy Corp.’s subsidiaries reached a settlement that would allow the companies to flow back $900 million in savings from the federal tax cut law that lowered the corporate income tax rate to 21 percent from 35 percent. The company said that the tax savings would be credited through a new mechanism reconciled annually, and that…
The Illinois Commerce Commission authorized $71.6 million in additional revenue for Ameren Illinois Company’s electric service, resulting in a $4 increase in monthly residential bills, according to a Nov. 1 press release. The commission approved $31.7 million rate increase for the company’s gas delivery service, raising monthly bills by about $3.50. The gas rates take effect…
Retail electricity prices for customers enrolled with competitive suppliers in the New England region are less volatile compared to wholesale power prices, although temporary price hikes occur when wholesale prices experience the largest increases, according to an Oct. 31 report from the U.S. Energy Information Administration. All the New England states except Vermont have deregulated…
The Indiana Utility Regulatory Commission approved a settlement increasing Indianapolis Power & Light’s annual revenues by about $43.9 million, resulting in a $5.18 hike in monthly residential bills, according the agency’s Oct. 31 press release. In February, the utility lowered its revenue request to $96.7 million from its initial request of $124.5 to account for…
The Illinois Commerce Commission announced that Sperian Energy Corp., an alternative retail electric supplier, would return $2.65 million to Illinois consumers as a result of a multi-agency enforcement action for violations pertaining to marketing of retail electric products, according to an Oct. 15 news release. The agency initiated a proceeding against the company in July…
Commonwealth Edison Company proposed that residential and commercial monthly bills display the “price to compare” for accounts of 15,000 kilowatt-hour or less of annual usage, according to an Oct. 15 filing. In July, the commission asked regulated utilities to clearly display the message so that customers can easily find and understand their current electric cost…
The Connecticut Public Utilities Regulatory Authority proposed to update rules that require licensed electric suppliers to provide timely and accurate information to distribution companies for inclusion on residential customer bills, according to an Oct. 15 draft decision. The proposed update would require distribution companies to reject enrollments that lack supply summary information and place them…
The California Public Utilities Commission on Oct. 11 approved a proposal that revises the Power Charge Indifference Adjustment, a fee intended to equalize cost sharing between customers who switch to community choice aggregation or CCA and those to continue to take service from electric utilities. The adjustment is an exit fee charged by the state’s…
The West Virginia Public Service Commission announced that customers will benefit from a decrease in the purchased gas portion of natural gas utilities’ rates, according to an Oct. 9 press release. The annual adjustment is an estimate of the prices utilities would pay for gas from November through October of the following year and a…
An increasing number of electricity customers are gaining access to the competitive retail market, giving them a broader range of choices in suppliers of electric power. In a bid to ensure a more competitive and transparent market, states are strengthening rules on marketing by suppliers. Among recent actions, New York is examining the status of cybersecurity in the retail access industry, while Maryland is considering enhancements to the competitive market and customer choice framework.
The Maine Public Utilities Commission opened an investigation on Oct. 3 to determine the impact of certain aspects of the federal tax law on Emera Maine’s revenue requirements including excess deferred income taxes, savings associated with the time period from Jan. 1 to June. 30, and whether these savings can be used to offset storm…
The Public Utilities Commission of Ohio approved a settlement that will lower residential bills for American Electric Power Company Inc.’s customers by $3.65 per month as a result of reconciling rates to pass on savings from the federal tax law that slashed the federal income tax rate to 21 percent from 35 percent, according to…
