SALT LAKE CITY — Rocky Mountain Power is proposing that Utah utility regulators approve cost and accounting adjustments that would reduce customer bills by $6.5 million.
If approved by the Public Service Commission of Utah, the proposal would result in a typical residential customer who used 700-kilowatt hours each month seeing their annual electricity bill decrease by about $2.55, according to a news release.
The commission approves electricity prices based partially on the expected future costs of fuel and electricity purchases. The costs are tracked and customer bills are adjusted annually after it is determined whether the actual costs are higher or lower than the forecast, the statement notes.
“This proposal reflects Rocky Mountain Power’s efforts to keep energy prices as low as possible,” said Rocky Mountain Power Vice President Joelle Steward. “We’re proposing accounting treatment of taxes and other costs of providing service that would result in lower bills for customers through this annual cost adjustment.”
The proposal is under review by state utility regulators. If approved, the reduction in customer bills could be effective May 1.