Ohio's four big electric utilities are challenging a request by state regulators to return proceeds of the federal tax cut to customers by reducing rates.
The Public Utilities Commission of Ohio in January instructed American Electric Power, Dayton Power & Light, Duke Energy and FirstEnergy to treat any tax savings received after January 1st as potential consumer savings. The commission ordered them to begin tracking how much they're over collecting by maintaining delivery rates developed under the old 35% federal tax rate, rather than using the new 21% rate.
The companies pushed back in an unusual joint filing in February. They argued the commission's order lacks specifics, potentially violates a rule against retroactive utility refunds and falls outside the normal rate making process.
