El Paso Electric became the first utility in Texas to pass on the benefits of recently enacted corporate tax cuts to their customers by lowering its rates.
El Paso Electric, which serves more than 276,000 customers in Texas and New Mexico, will distribute the $27 million in savings over a year by cutting the average monthly electric bill by about 4 percent. That translates into just under $4 a month for the utility’s average residential customer using 635 kilowatt hours of electricity a month.
El Paso Electric is one of several utilities across the country that have shared the windfall from the corporate tax cuts — which sliced the corporate tax rate to 21 percent from 35 percent — with their customers.
Source: FuelFix
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