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utility

Christoper Sessums / Flickr http://michrad.io/1LXrdJM

The corporate tax rate went from 35% to 21% on January 1.  That means a windfall for the state's utilities. 

But because they are regulated by the government, DTE Energy, Consumers Energy and other regulated utilities will be required to pass the savings on to ratepayers. 

DTE says the tax cut will save it about $190 million a year, and Consumers Energy says it will save a similar amount, about $200 million. 

Christoper Sessums / Flickr http://michrad.io/1LXrdJM

A recent ruling could mean lower rates and refunds for Michigan energy customers.

The initial decision from a federal administrative judge says companies that own transmission lines in several states are overcharging customers.

In Michigan, that could mean customers will see total savings of about $40 million a year, according to an estimate from the group Michigan Citizens Against Rate Excess (CARE).

“Everybody’s going to benefit,” said attorney Robert Strong, who represents industrial customers in Michigan.