Taxes are down 14 percent for utility companies in the wake of the federal tax overhaul, but Louisianans haven’t seen lower rates. The Public Service Commission says they anticipate lower rates as a result, but Commissioner Lambert Boissierre says you could be waiting until summer to see the change.
According to Boissierre, "June is the current estimate" for Louisianians to see a change in utility company tax rates.
Boissierre says the new tax structure means the PSC will have to redo its previous analysis that it sets every six months to a year for rate changes. He says there is a lot that goes into formulating the rates.
Boissierre expresses that waiting until June may be beneficial in "getting money back."
The commissioner says the tax overhaul effected a wide variety of different companies that Louisiana residents rely on.
Boissierre says that the tax cut would extend to various companies such as power and water companies.
Boissierre disagrees with the commission’s estimates for when rate changes could take place, and feels utility companies have the ability to begin cutting rates immediately.