Business

AG Healey: Eversource agrees to use tax cut to lower rates

The Associated Press
Posted: Jan. 3, 2018 7:00 am Updated: Jan. 3, 2018 7:53 pm

BOSTON (AP) Massachusetts Attorney General Maura Healey says Eversource has agreed to use the corporate savings it will receive under the new federal tax law to lower rates for its 1.4 million Massachusetts customers.

The Democrat had urged the Department of Public Utilities to recalculate Eversource's recently approved rate hike to reflect the reduction of the federal corporate tax rate from 35 to 21 percent.

Healey said that in its filing Wednesday, Eversource proposed lowering existing rates for NStar Electric customers by about $35 million and to increase rates for its Western Massachusetts Electric Company customers by $16 million, instead of the $25 million approved by the DPU.

Healey has also pushed to have the rates for all major electricity, gas, and water companies recalculated to reflect the lower corporate tax rate.

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