PURA Opens Rate Adjustment Proceeding After Federal Tax Cuts and Jobs Act
Today, the Public Utilities Regulatory Authority (PURA) initiated a proceeding to consider adjustments to rates that may be appropriate for Connecticut customers of regulated utilities, to account for revisions to tax laws—including corporate tax rates--contained in the recently enacted Federal Tax Cuts and Jobs Act (Tax Act). Currently, utilities regulated by PURA are allowed to incorporate certain federal income tax obligations into rates charged to customers. The proceeding, designated as Docket No. 18-01-15, will consider adjustment to customer rates to reflect reduced federal tax obligations for the regulated utilities.