April 29, 2019 - 8:00 AM EDT
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EPCOR USA Passes $4 Million in Tax Reform Savings to Arizona Water Customers

Customers to Receive One-Time Credit in May 2019 Billing Cycle

PHOENIX, April 29, 2019 (GLOBE NEWSWIRE) -- More than 135,000 EPCOR water customers in Arizona will see savings when they receive $4 million in refunds as a result of federal corporate tax cut savings on their May 2019 bill.

“We are extremely pleased to deliver more than $4 million in savings to our Arizona water customers, and it’s important to us that we put this into effect immediately,” said Joe Gysel, President of EPCOR USA, Arizona’s largest regulated water utility. “Our customers deserve to share in the savings generated by federal tax reform. It's positive for them, for their communities and for our state.”

On March 28, the Arizona Corporation Commission (ACC) approved EPCOR’s request to refund $4 million in tax reform savings collected between January 2018 and March 2019 to the company’s residential and commercial water customers.

The one-time credits will vary according to customer classification, meter size, and EPCOR service district. A detailed list is available under “Rates & Tariffs” on epcor.com. Most residential water customers have 5/8, 3/4 or 1-inch meters:

Regulated utilities are required to collect local, state and Federal taxes as part of the service provided to customers. The Tax Cuts and Jobs Act of 2017 passed into law in December 2017, reducing the corporate tax rate from 35 to 21 percent. However, current rates for EPCOR’s Arizona water customers were set by the ACC prior to December 2017 at the previously higher tax rate. EPCOR’s Arizona wastewater customers already received $1.1 million in tax savings in 2018.

For further information, please contact:

Rebecca Stenholm
Director, Public & Government Affairs
O 623.445.2424
C 602.390.5662
[email protected]

Headquartered in Phoenix, Arizona, EPCOR USA’s wholly owned subsidiaries build, own and operate water and wastewater and natural gas facilities and infrastructure in the southwestern United States. EPCOR USA provides water, wastewater and natural gas service to approximately 665,000 customers across 44 communities and 15 counties in Arizona, New Mexico and Texas.

About EPCOR Utilities Inc.
EPCOR, through its subsidiaries, builds, owns and operates electrical, natural gas and water transmission and distribution networks, water and wastewater treatment facilities, sanitary and stormwater systems, and infrastructure in Canada and the United States. The company also provides electricity, natural gas and water products and services to residential and commercial customers. EPCOR, headquartered in Edmonton, is an Alberta Top 70 employer. EPCOR’s website address is www.epcor.com.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/00416479-d138-4d04-8f9b-5360ce43034b

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Tax Reform Savings for Residential Water Customers

Tax Reform Savings for Residential Water Customers

Source: GlobeNewswire (April 29, 2019 - 8:00 AM EDT)

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