Federal tax cuts cause MA utility companies to lower rates - Western Mass News - WGGB/WSHM

Federal tax cuts cause MA utility companies to lower rates

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SPRINGFIELD, MA (WGGB/WSHM) -

Utility customers will soon see a break in their bill. 

State regulators are ordering Massachusetts utility companies to lower their rates after the federal corporate tax rate was reduced. 

Now, the Department of Public Utilities wants to see the savings passed on to customers.

"It will be nice, more money to save, could use that extra money," said Chicopee resident Michael Kyles.

This all comes after the Tax Cuts and Jobs Act of 2017 was signed back in December that slashed corporate tax rates from 35 to 21 percent. 

The agency ordered the utility companies submit a proposal to lower their rates by May 1.

Attorney General Maura Healey called the decision “A huge victory for ratepayers who deserve the benefit of this major tax break for utilities.”

Eversource confirms that they will reduce their rate.

National Grid said, “working with our regulators and stakeholders, we will ensure the tax savings are fully realized and used to benefit our customers through their bills.”

There's no word on when these customers will see a break in their bill, or how much. 

Copyright 2018 Western Mass News (Meredith Corporation). All rights reserved. 

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