Puget Sound Energy recently announced that it will give 100 percent of the $96.5 million it saved in corporate taxes due to the federal Tax Cuts and Jobs Act back to its customers.

“Passing back these federal tax savings is the right thing to do for our customers,” said Ken Johnson, PSE vice president, regulatory & government affairs. “We commend the commission for providing an efficient and collaborative regulatory process allowing PSE to pass on savings quickly.”

According to PSE, residential electric bills will be reduced by $3.50 per month, and natural gas bills will be reduced by $1.83 per month. Rate adjustments will go into effect on May 1, 2018.