State asks utilities to pass tax cut savings to customers

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FAIRBANKS, Alaska (AP) - State officials are asking two Fairbanks utilities to pass on an estimated $1 million in savings from the federal Tax Cuts and Jobs Act of 2017 to customers.

The Fairbanks Daily News-Miner reported Friday that officials with Golden Heart Utilities and College Utilities Corp. say they would prefer to put the savings toward a revenue deficiency, which would delay a rate increase.

The Regulatory Commission of Alaska says other investor-owned utilities, including Enstar Natural Gas Co. in Anchorage, lowered their rates after the passage of the 2017 Tax Act.

Utilities in other states are also reportedly reviewing their rates in light of the federal tax cut savings.

Golden Heart Utilities and College Utilities Corp. have more than 9,000 customers and serve about 55,000 people in the Fairbanks area.



 
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