BATON ROUGE, LA, April 18, 2018-
An agreement sighed today between Entergy and the Louisiana Public Service Commission will reduce electricity costs for Louisiana residents, Entergy officials said in a press release.
Beginning in May of 2018, the first rate reduction will take effect, and will result in “$210 million in federal tax reform-related savings, $105 million of which will be returned to customers over the next eight months, with the remaining half of these savings returned to customers over the following four years,” Entergy officials said.
While that’s a lot of savings, the average Entergy customer will see around a “$4.20 decrease on monthly bills from May through December of this year.”
Another rate reduction in September of 2018 may reduce customer’s bill by $2 a month.
“Along with customer refunds, tax reform also helps provide us the ability to invest in modernizing our system for the benefit of customers while maintaining some of the lowest rates in the country,” said Phillip May, president and CEO of Entergy Louisiana, in a press release.
Northwest Louisiana Congressman Mike Johnson also celebrated the rate reductions for his constituents.
“The Tax Cuts and Jobs Act continues to deliver for Louisiana families and hard-working Americans all across the nation,” Johnson said. “I am pleased to see Entergy passing their new-found savings along to consumers. These are real benefits for real people that will help a countless number of our constituents. We look forward to hearing more and more success stories created by this historic reform.”