Regulators: Utilities must pass along tax overhaul savings

PEORIA, Ill. (AP) - The Illinois Commerce Commission has approved an order requiring utilities including to pass along their federal tax overhaul savings to customers.

The order approved Thursday requires each utility to credit consumers with the estimated savings beginning with their next billing cycle.

The tax overhaul passed last year by Congress and signed by President Donald Trump reduced corporate income tax rates from 39 percent to 21 percent.

The Peoria Journal-Star reports the commission said in a news release that it worked with utilities, the Citizens Utility Board and the office of the Illinois Attorney General to develop the order.

Ameren Illinois' downstate electric operations and Commonwealth Edison in northern Illinois moved to implement the refunds earlier in the year.