Dominion Energy ratepayers in Virginia can soon expect a one-time credit to be added to their utility bills.
The average household, which uses 1,000 kilowatt-hours per month, will see a credit of $33.27 in their June bills because of changes to the federal corporate income tax.
As part of the Republican tax overhaul of late 2017, the federal corporate income tax rate was reduced from 35 percent to 21 percent. The State Corporation Commission ordered companies to pass down savings from the tax cut to ratepayers.
It’s unclear whether ratepayers will see a decrease in their electric bills for the year, however, as Dominion has requested myriad rate increases and decreases from the SCC.