Customers receive full value of recent federal tax changes
South Burlington, VT – Vermont Gas announced today that it will reduce 2018 customer costs by $2.4 million, the full benefit of December’s federal tax law changes. Vermont Gas has filed a notice with the Vermont Public Utility Commission to give customers a monthly credit on 2018 bills, starting February 1st and continuing through October 2018. Each of Vermont Gas’ 51,000 customers will receive a credit on their heating bill, based on usage, over the next eight months. For families, this bill credit will total almost $40 over the year; businesses could see even more.
“Our commitment to our customers is to maintain affordable and competitive rates, while offering top-rate customer service. We are so pleased to return the full benefit of this new federal tax reduction to every family and business this year,” said Don Rendall, President and CEO of Vermont Gas. “Our customers will start to see a reduction in their heating bills next month and with the recent bitterly cold weather we’ve been experiencing, this money will be a welcomed relief.”
While each customer’s total savings will vary depending on their actual usage, the average residential customer’s annual bill will be almost $40 lower because of this change. Businesses could receive hundreds, or thousands of dollars credited over the course of the year, depending on usage.
“As a Vermont Gas customer at my home and for my downtown hair salon, I’m always looking for ways to save money,” said Glenn Brown, Burlington resident and owner of Chop Shop Hair Design. “I’m excited that Vermont Gas is passing along the tax credit to customers – every little bit helps this time of year.”
“We’re pleased to return this money to customers because we know how important it is for everyone to keep costs in check, especially during the winter months,” Rendall continued. “Natural gas is already the cleanest and most affordable heating choice for over 51,000 families and businesses and we know these savings will help.”
Natural gas is 25% less than oil and over 50% less expensive than propane. To learn more, visit VermontGas.com.
VGS is a leader in energy efficiency and innovation, offering a clean, safe, affordable choice for over 54,000 homes, businesses, and institutions in Franklin, Chittenden and Addison counties. The company plays an important role in Vermont’s clean energy future by displacing higher-emitting fuels, offering renewable natural gas service, and delivering award-winning energy efficiency programs. VGS is leading the country in the development of local renewable energy generation and has targeted a 30% reduction in greenhouse gas emissions by 2030 and becoming Net Zero by 2050. For more information about Vermont Gas visit www.vgsvt.com