APS lowers customer bills with tax reform savings

Arizona Public Service is lowering customers’ electric bills with savings from the new federal tax reform bill that went into effect in January 2018.

A year ago, the company phased in its first $119 million in tax savings to lower customer bills, and will pass on another $86 million in savings this year. Over the two years, average customers should see their monthly energy bills reduce about $14.50 a month, depending on their usage, Arizona Public Service (APS) officials said.

“We are always 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, who also announced that APS is launching an initiative to help customers save money on monthly bills. “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.”

The new tax savings appear on monthly bills on the line item called the tax expense adjuster mechanism. The Arizona Corporation Commission recently unanimously approved APS’ application to pass the newest round of savings on to ratepayers. The tax savings are the result of the federal tax reform bill that went into effect January 2018 that reduced corporate taxes and temporarily increased business income deductions for qualified businesses.

With summer coming and energy bills rising, APS also has launched 100 Days of Helping. The initiative provides customers with information about ways they can save on their energy bills and resources available to needy customers who qualify financially.

There are a number of programs that can help, including:

• The APS Energy Support Program that provides a 25 percent discount on monthly energy bills for customers who qualify financially.
• The Crisis Bill Assistance program that provides up to $400 per year in bill relief for customers who need temporary support due to a sudden financial hardship like losing a job or facing an unexpected medical expense.

For more information about these programs and other money saving tips, go to aps.com/helping.

Phoenix-based APS, the principal subsidiary of Pinnacle West Capital Corp., serves about 2.7 million people in 11 Arizona counties. It is the top producer of carbon-free energy in the Southwest and currently produces 50 percent of its energy from clean and renewable sources including nine solar energy plants and the Palo Verde Generating Station.