COLUMBUS, OHIO (WJW)- Dominion Energy Ohio will be crediting customers the amount it over-collected, plus interest since January.
The Public Utilities Commission of Ohio announced an agreement Thursday with Dominion to establish credit on gas customer’s bills to reflect the impact of the Tax Cuts and Jobs Acts of 2017 on its rates.
The $50.9 million credit will be passed back to all customers over a 12 month period.
According to the news release, a residential customer will see a bill reduction of approximately $5.80 per month for the first year, a $3.15 reduction in years two through six and a $1.55 reduction in year seven and beyond.
Back in January, the Commission ordered an investigation to study the impacts of the TCJA on PUCO-regulated utilities and how best to pass on the benefits to customers and directed utilities to set aside money in excess of the reduced tax rate to later be returned to customers.
A copy of today’s finding and order can be found on the PUCO website here 18-1908-GA-UNC.
Dominion is expected to file an application with the PUCO for its next distribution rate case in 2024.