Natural gas customers of Empire District Gas Company will see the benefits of the federal Tax Cuts and Jobs Act of 2017 under new rates that are expected to take effect on October 24, 2018.
According to a news release from the Missouri Public Service Commission, the federal Tax Cuts and Jobs Act of 2017 reduced the federal corporate income tax rate from 35 percent to 21 percent for businesses, including utilities.
Empire District Gas Company will reduce annual natural gas revenues by approximately $773,566.
For a residential customer, natural gas rates will drop by approximately 1.7 cents per 100 cubic feet of natural gas.
Empire District Gas Company serves approximately 43,000 natural gas customers in Missouri.