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Arizona Public Service to pass along $119M in federal tax savings to customers

Arizona Public Service Co. will start relaying to customers $119 million in savings from federal corporate tax cuts, according to a March 1 news release.

The Arizona Corporation Commission approved the Pinnacle West Capital Corp. subsidiary's application to refund 0.4912 cent per kWh beginning on March bills. These savings exceed the $95 million revenue increase from the utility's 2017 rate settlement.

An average residential electric customer will see a $5.40 reduction on a monthly basis, the utility said. The calculation is based on energy usage and will vary month to month and customer to customer.