Indiana American Reduces Customer Bills, Passing on Savings from Federal Tax Reform
GREENWOOD, IND. – June 26, 2020 – Indiana American Water announced today that its water customers across the state will soon start seeing lower monthly bills. The decrease, which amounts to approximately $1.04 per month (2.77 percent) for a residential customer using 4,000 gallons per month, is the result of the resolution of certain accounting issues related to the Tax Cuts and Jobs Act (TCJA) of 2017.
The Indiana Utility Regulatory Commission issued an order on June 24, 2020 approving a settlement agreement between Indiana American Water, the Indiana Office of Utility Consumer Counselor (OUCC) and other interested parties on several accounting issues related to the TCJA.
“Although it has taken some time to sort out the impacts of federal tax reform enacted in 2017, we are pleased to share some good news with customers during a time when many are facing financial challenges related to the COVID-19 public health emergency,” said Indiana American Water President Matt Prine.
The decrease is in addition to a one-time adjustment to customers that is already being implemented and spread out over a twelve-month period as a credit on customer bills and a previous TCJA-related decrease of 4.4 percent implemented in August 2018.
A copy of the company’s rates are available online at https://amwater.com/inaw/customer-service-billing/your-water-rates.
GREENWOOD, IND. – June 26, 2020 – Indiana American Water announced today that its water customers across the state will soon start seeing lower monthly bills. The decrease, which amounts to approximately $1.04 per month (2.77 percent) for a residential customer using 4,000 gallons per month, is the result of the resolution of certain accounting issues related to the Tax Cuts and Jobs Act (TCJA) of 2017.
The Indiana Utility Regulatory Commission issued an order on June 24, 2020 approving a settlement agreement between Indiana American Water, the Indiana Office of Utility Consumer Counselor (OUCC) and other interested parties on several accounting issues related to the TCJA.
“Although it has taken some time to sort out the impacts of federal tax reform enacted in 2017, we are pleased to share some good news with customers during a time when many are facing financial challenges related to the COVID-19 public health emergency,” said Indiana American Water President Matt Prine.
The decrease is in addition to a one-time adjustment to customers that is already being implemented and spread out over a twelve-month period as a credit on customer bills and a previous TCJA-related decrease of 4.4 percent implemented in August 2018.
A copy of the company’s rates are available online at https://amwater.com/inaw/customer-service-billing/your-water-rates.