Beadle County Republican Women meeting
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HURON — Savings that investor-owned utilities operating in South Dakota will see with the federal tax cut package that Congress passed just before Christmas could be filtering down to consumers, a member of the Public Utilities Commission said Monday.
But Kristie Fiegen said any refunds won’t happen overnight.
“We will be working with nine companies this next year or two to figure how this tax savings goes back to consumers,” she said at a Beadle County Republican Women luncheon.
While it may look easy to simply make refunds to consumers, Fiegen said it will take time.
“It’s a lot of work,” she said.
If an investor-owned utility approaches the PUC with a request to raise rates to cover the cost of an investment in its system in the coming months, she said commissioners might reply this way: “We might be able to say, ‘you know, you have a piggy bank right now, and it’s all the savings from your corporate tax,” Fiegen said.
PUC commissioners might then suggest that the company pay for the investment from tax savings rather than passing on a rate increase to consumers, she said.
In any case, consumers will have to be patient.
“We’re looking at a two-year process to figure out what that looks like, and it sounds easy but it’s not,” Fiegen said.
A number of the investor-owned utility companies had rate cases considered by the PUC three or four years ago. After those were decided, they were asked to stay out of a rate case for two, three or four years, she said.
“Most of those are coming due now and they can come in for a rate case again if they need it,” Fiegen said.
PHOTO BY ROGER LARSEN/PLAINSMAN
Public Utilities Commissioner Kristie Fiegen, left, addressed the Beadle County Republican Women on Monday. At right are Rosie Harrington and Barb Lorenz.