ENTERGY CORPORATION News Center > Entergy Arkansas Customers to Receive One-Time Credit in February
01/28/2021
Entergy Arkansas customers will see a one-time credit on February 2021 bills, following an annual adjustment based on federal tax rates.
'Providing affordable, safe and reliable energy is at the heart of what we aim to do each day,' said Michael Considine, Entergy Arkansas customer service vice president, 'and our goal is to pass along additional credits to our customers as quickly as possible.'
The amount varies by customer based on the kilowatt-hours consumed, but the average residential customer will see a $3.85 credit on their February bill. The total to be credited back to all customers is estimated at $5.6 million, with a credit for commercial and industrial customers also based on usage.
In December 2017, Congress passed the Tax Cuts and Jobs Act which lowered the federal tax rate of 35% to 21%, which resulted in Entergy Arkansas crediting nearly $500 million in accumulated deferred income tax to customers between April 2018 and December 2019. This final credit is a reconciliation of the pre-collected tax money owed to customers.
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Entergy Corporation published this content on 28 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2021 22:35:05 UTC.
