Over $1.6B in refunds approved for Consumers Energy customers

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LANSING, Mich. (WLNS) – Michigan officials approved refunds of $1,625,769,000 to Consumers Energy customers.

The Michigan Public Service Commission approved a refund of $1,174,181,000 for electricity customers and $451,588,000 for customers of Consumers Energy gas business.

The refunds are a result of the 2017 federal Tax Cuts and Jobs Act, which lowered corporate tax rates from 35 percent to 21 percent.

The utility will also create new rates so a residential electricity customer of Consumers who uses a monthly average of 500 kilowatt hours of electricity will see a monthly bill reduction of 68 cents beginning in October.

So far, the Commission has approved more than $4.4 billion in rate reductions for customers of Michigan’s regulated utilities under the act.

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