PHOENIX--(BUSINESS WIRE)--With unanimous approval from the Arizona Corporation Commission today, APS will pass $86 million more in federal tax reform savings on to customers beginning in April. This is the second federal tax adjustment since March 2018, and this portion of the savings will be returned to customers throughout the next year.
For a customer using the average amount of electricity, the latest reduction will be about $2.50 per month and will vary based on actual usage, meaning larger users will see bigger savings. These savings appear on monthly bills as a line item called the tax expense adjustor mechanism.
One year ago, customers started seeing the first $119 million in savings from these tax changes on their monthly bill, and with today’s ACC decision, the total benefit will reach more than $200 million. Overall, for the average-use customer, APS has lowered bills more than $12 per month in the last year.
Now, as summer approaches, bringing with it higher electricity bills due to greater energy usage, APS has launched 100 Days of Helping. This initiative is designed to provide customers with information about ways they can save on their bills, as well as resources available to those who need it most.
“We always are looking for ways to keep electricity affordable, and one way we can do that is by passing along these tax reform savings to customers,” said Stacy Derstine, APS Vice President of Customer Service. “We also want to ensure customers know about all the resources available to them and to their friends, family and neighbors who may need extra support before higher temperatures hit Arizona.”
For APS customers who qualify financially, resources include the APS Energy Support Program, which provides a 25 percent discount on monthly energy bills. For customers who just need temporary support due to a sudden financial hardship like losing a job or facing an unexpected medical expense, Crisis Bill Assistance provides up to $400 per year in bill relief. More information about these programs and other helpful tips to save money on monthly electricity bills can be found at aps.com/helping.
APS serves about 2.7 million people in 11 of Arizona’s 15 counties, and is the Southwest’s foremost producer of clean, safe and reliable electricity. Using a balanced energy mix that is 50 percent carbon-free, APS has one of the country’s 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).