Duke Energy customers in Ohio and Kentucky will likely see their electric bills go down starting this month.
Thanks to the Tax Cuts and Jobs Act of 2017, the company says Ohioans can expect to save approximately $40 on their annual electric charges in 2019, while Kentuckians can expect to save around $55 on their electric bills over the course of a year.
Natural gas customers, however, will have to wait a bit longer to see savings, as Duke Energy is still awaiting regulatory approval of that proposed rate change. A decision is expected this month or next, a company spokesman tells WVXU.
Congress and the Trump administration passed the act that made changes to all kinds of taxes at the end of 2017, though the plan was not without its detractors. The following year, Duke Energy says customers in Ohio and Kentucky saw annual savings of $13 and $37, respectively. These new savings are due to what's known as a "pass-through." "Many of the taxes we are charged with went down and we are passing those savings along to our customers," explains Duke Energy spokesman Lee Freedman.
Duke Energy serves about 850,000 residential, commercial and industrial electric service customers and approximately 533,000 natural gas customers across a 3,000-square-mile service area.