DETROIT – DTE Gas customers will see a very small monthly credit on their bills starting in September and lasting for more than 20 years.
The Michigan Public Service Commission today approved monthly decreases for DTE Gas Co. customers to reflect the impact lower federal corporate tax rates have on the company’s long-term investments.
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A total of $333 million will be returned to customers, or $12.7 million annually. A residential customer who uses 10,000 cubic feet of natural gas a month will receive a 58-cent monthly credit on their bill beginning in September.
If you do the quick math here using the average credit cited above, that means refunds will be paid out over about 26 years. And on average, customers would see a total refund of about $180 over that time.
That's right -- that's $180 over a 26-year span, for the average residential customer who uses 10,000 cubic feet of natural gas a month.
MPSC approved refunds of $2.12 a month for DTE Gas customers in May 2018 and refunds of $2.21 a month in October 2018.
“The Commission has been a strong advocate for utility ratepayer savings ever since the federal Tax Cuts and Jobs Act went into effect,” MPSC Chairman Sally Talberg said. “Our Staff continues its important lead role in making sure every dollar of savings from the tax law changes is passed on to ratepayers in a timely manner.”
From May: Rate increase approved: DTE Electric customers will see hike in monthly bill