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The energy companies are legally obligated to pass along the

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Energy customers to see 3 percent-4 percent savings this yearCompanies required to pass along savings to customersApproval needed from Michigan Public Service CommissionMichigan businesses and residents are set to see a reduction in energy costs this year resulting from the new U.S tax code approved late last year.Jackson-based Consumers Energy Co. and Detroit-based DTE Energy Co. are expecting the reformed tax law to net a savings of $200 million and $190 million to its customers best hermes replica belts www.etnaimmobiliare.it , respectively, which equates to a 3 percent-4 percent savings for customers.The energy companies are legally obligated to pass along the savings to customers, said Brian Wheeler, Consumers spokesman Brian Wheeler said.The Michigan Public Service Commission in December ordered 13 utilities to study the impact of the new federal tax law and devise a plan for routing savings to customers.DTE customers will see a rate reduction of about 3 percent, according to a Tuesday news release from the company. Consumers customers will see a 3 percent-4 percent reduction, Wheeler said.A typical home serviced by Consumers has an average electricity and gas bill totaling $175 per month, Wheeler said. Average monthly savings per house at a 3 percent reduction would amount to $5.25.The new energy rates will go into effect following approval from the Michigan Public Service Commission. Consumers is seeking approval by the second quarter of 2018.DTE customers will begin seeing reduced costs as soon as May, depending on MPSC approval, company spokeswoman Carly Getz said. She said the reductions are retroactive so customers will ultimately receive savings dating to Jan. 1.DTE serves 2.2 million electric utility customers and 1.3 million natural gas customers in Michigan. Consumers serves 1.8 million electric utility customers and 1.8 million natural gas customers.

DTE, Consumers Energy plan 3-4 percent rate cuts from tax reform

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