Bellevue, Wash.-based Puget Sound Energy (PSE) filed a request with the Washington Utilities and Transportation Commission (UTC) to pass through an adjusted federal wind power production credit that would further reduce bills for the utility's more than 1 million electric customers, effective Jan. 1, 2009.
The credit is due to a federal income tax benefit derived from PSE's ownership of two wind power generating facilities – Wild Horse and Hopkins Ridge – located in central and eastern Washington, respectively. The credit – in effect since 2007 – is adjusted annually based on the power output of the wind facilities.
If approved by the UTC, the wind credit will increase by $0.28 and bring the total monthly credit to $1.68 for households using 1,000 kWh per month. This will lower PSE's average monthly residential electric bill to $91.21.
‘We're able to lower customers' electric bills because the amount of the allowed tax credit has increased, as a result of our wind facilities generating more power this past year,’ said Kimberly Harris, executive vice president and chief resource officer for PSE. ‘Through the wind power production credit, we pass through to our customers 100 percent of the federal income tax benefits we receive for wind generation.’
SOURCE: Puget Sound Energy