Water Company (IAWC) is announcing that customers across the state will soon
start seeing lower monthly bills.
The decrease, which
amounts to approximately $1.04 per month (or 2.77 percent) for residential
customers using 4,000 gallons per month, is the result of the resolution of
certain accounting issues related to the Tax Cuts and Jobs Act of 2017 (TCJA).
The Indiana Utility
Regulatory Commission issued an order on June 24 approving a settlement
agreement between IAWC, the Indiana Office of Utility Consumer Counselor (OUCC),
and other interested parties on several accounting issues related to 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,” IWAC President Matt Prine said.
The decrease is in
addition to a one-time adjustment to customers that is already being
implemented and spread out over a 12-month period as a credit on customer
bills and a previous TCJA-related decrease of 4.4 percent implemented in