Lower Bills; Entergy Passing Tax Cuts Along to Us
Since the Tax Cuts and Jobs Act cut the corporate tax rate 14% from 35% to 21%, about a hundred utility companies across the country are lowering or giving credits to consumers.
Along with other major utilities of all types, gas, water and electric our own Entergy has proposed to the New Orleans City Council to pass the Tax Cuts savings they're enjoying along to us in the form of credits on our bills.
That's really good news for us soakers-up-of-air-conditioning especially as we face perhaps the hottest summer on record.
The savings according to the proposal would begin this month (June '18).
Entergy owns and operates power plants with approximately 30,000 megawatts generating capacity. Another way to look at that kind of capacity is this: the average home riding lawnmower has about 23 horsepower and when you convert watts to horsepower you get 40,230,662 HP. Over forty million horsepower or the power of close to 2 million riding lawnmowers.
The average home emergency generator runs about 2500 watts, Entergy power represents about 30 billion home generators.
According to the proposal, we should see the tax cuts as credits on our power bills.