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Westar announces plan to cut rates in light of federal tax reform

TOPEKA -- Westar Energy spokesperson Gina Penzig says the utility is planning to lower its rates.
 
 
 
 
 
Penzig says Westar will file a request with the Kansas Corporation Commission so the agency will do a full review of Westar's rates, including the federal tax savings. Penzig says that is an eight-month process by itself. In the meantime, the KCC is putting together some procedures to capture savings early this year -- or at least until the tax savings are reflected in rates. That money will go into a special account.
 
Penzig anticipates residential customers could well save some money once the full plan goes into effect.
 
 
 
 
 
This comes as the KCC is opening a general investigation into the impact of the Tax Cuts and Jobs Act on revenue requirements for utilities. As part of this announcement, utilities have to track savings from the tax cuts and put that money into a separate interest-bearing account. The KCC will then investigate each utility on a case-by-case basis to determine the rate impact.