By: Beaumont Enterprise |
Entergy Texas announced this week it intends to give customers back more than $200 million that the utility provider collected for future taxes.
The money will “flow back” over the next two years, and the refund is the result of the recent passage of the Tax Cuts and Jobs Act, Entergy said in a statement.
“This sum represents funds that Entergy Texas had collected from customers according to IRS rules to pay future taxes at the higher tax rate that is no longer in effect,” the statement said.
Sallie Rainer, president and CEO of Entergy Texas, said the tax reform will also help the company with its “investment to improve our service to customers, while minimizing the effect to customer bills.”
Entergy Texas provides electricity to 450,000 customers in 27 counties, according to the utility company.