Wuerth While Wily Wakenings: The Upcoming Peaceful Protests in the US Streets Over Utilities ...................................................................................... January 2018 Consumer Utility Bills Will Be Much Higher, But Just a Drop in the Bucket Higher as Compared to the Off-the-Charts Real Full Accrual Including Deferred Income Taxes and the Income Tax Liability Method 4Q 2017 Earnings Increases of US Utility Companies Due to the Trump Tax Bill That Will Be Reported By the Utility Companies When They File Their 10-Ks With the SEC in Late February 2018 ...................................................................................... Deferred Income Tax Liabilities of US Utility Companies, Which Are Massive, Will Determine Just How Huge Real Full Accrual With Deferred Income Taxes Included and the Income Tax Liability Method is Used 4Q 2017 Earnings Increases Will Be For the US Utility Companies ...................................................................................... The Trump Tax Bill Forgives Roughly 40% of the Balance of These Deferred Income Tax Liabilities With Roughly the Same Resultant Increase in 4Q 2017 Earnings Assuming Real Full Accrual Including All Deferred Income Taxes and the Income Tax Liability Method is Used

Sunday, January 21, 2018

The Upcoming Peaceful Protests in the US Streets Over Utilities ...................................................................................... January 2018 Consumer Utility Bills Will Be Much Higher, But Just a Drop in the Bucket Higher as Compared to the Off-the-Charts Real Full Accrual Including Deferred Income Taxes and the Income Tax Liability Method 4Q 2017 Earnings Increases of US Utility Companies Due to the Trump Tax Bill That Will Be Reported By the Utility Companies When They File Their 10-Ks With the SEC in Late February 2018 ...................................................................................... Deferred Income Tax Liabilities of US Utility Companies, Which Are Massive, Will Determine Just How Huge Real Full Accrual With Deferred Income Taxes Included and the Income Tax Liability Method is Used 4Q 2017 Earnings Increases Will Be For the US Utility Companies ...................................................................................... The Trump Tax Bill Forgives Roughly 40% of the Balance of These Deferred Income Tax Liabilities With Roughly the Same Resultant Increase in 4Q 2017 Earnings Assuming Real Full Accrual Including All Deferred Income Taxes and the Income Tax Liability Method is Used

The first chart below shows the Deferred Income Tax Liability Balances mostly at Dec 31, 2016 of the 73 US Utility Companies, predominately publicly-held companies with stock market caps above $1 bil.

			Mostly
			12-31-16
			Total
			Net
			Deferred
	City	State	Tax
Regulated Utilities: Electric, Gas & Water Services	HQs	HQs	Liability
			bil $s
Publicly-Held Companies (Predominately)
NextEra Energy Inc	Juno Beach	FL	10.6
Duke Energy Corp	Charlotte	NC	14.2
Dominion Energy Inc	Richmond	VA	8.6
Southern Co	Atlanta	GA	14.1
Exelon Corp	Chicago	IL	18.2
National Grid (Owns Reg Util in NY, MA, NH, RI&VT)	London UK		6.2
American Electric Power Co	Columbus	OH	11.9
Sempra Energy	San Diego	CA	3.5
PG&E Corp	San Francisco	CA	10.2
Consolidated Edison Inc	New York	NY	10.0
Edison International	Rosemead	CA	8.2
Public Service Enterprise Group Inc	Newark	NJ	8.7
Xcel Energy Inc	Minneapolis	MN	6.8
PPL Corp	Allentown	PA	3.9
Berkshire Hathaway Energy Co	Des Moines	IA	13.9
WEC Energy Group Inc	Milwaukee	WI	5.1
DTE Energy Co	Detroit	MI	4.2
Eversource Energy	Springfield	MA	7.1
Avangrid (Utility UIL is Included)	New Haven	CT	3.5
Entergy Corp	New Orleans	LA	7.4
FirstEnergy	Akron	OH	3.8
Ameren Corp	St Louis	MO	4.3
American Water Works	Voorhees	NJ	2.6
Fortis (Owns US Utilities ITC and Tucson EP)	Canada		2.6
CMS Energy Corp	Jackson	MI	2.3
CenterPoint Energy Inc	Houston	TX	5.3
Alliant Energy Corp	Madison	WI	2.6
Pinnacle West Capital Corp	Phoenix	AZ	2.9
NiSource	Merrillville	IN	2.5
OGE Energy	Oklahoma City	OK	2.3
SCANA Corp	Cayce	SC	2.2
Westar Energy	Topeka	KS	1.8
Tampa Electric	Tampa	FL	1.4
UGI Corp	King of Prussia	PA	1.3
Great Plains Energy	Kansas City	MO	1.3
Aqua America	Bryn Mawr	PA	1.3
Vectren	Evansville	IN	0.9
MDU Resources Group	Bismark	ND	0.7
Energen	Birmingham	AL	0.5
AES Corp	Arlington	VA	0.0
Puget Sound Energy	Bellevue	WA	1.7
Idacorp	Boise	ID	1.2
ONE Gas	Tulsa	OK	1.0
PNM Resources	Albuquerque	NM	0.9
National Fuel Gas Co	Williamsville	NY	0.9
WGL Holdings	Washington	DC	0.9
Avista	Spokane	WA	0.8
Southwest Gas Holdings	Las Vegas	NV	0.8
Hawaiian Electric Industries	Honolulu	HI	0.7
Spire	St Louis	MO	0.7
Portland General Electric	Portland	OR	0.7
ALLETE	Duluth	MN	0.6
Black Hills Corp	Rapid City	SD	0.5
New Jersey Resources	Wall	NJ	0.5
ORMAT Technologies	Reno	NV	0.0
Northwestern Corp	Sioux Falls	SD	0.6
Northwest Natural Gas	Portland	OR	0.6
El Paso Electric Co	El Paso	TX	0.6
MGE Energy	Madison	WI	0.4
South Jersey Industries	Folsom	NJ	0.3
California Water Service Group	San Jose	CA	0.3
Otter Tail	Fergus Falls	MN	0.2
American States Water	San Dimas	CA	0.2
TerraForm Power	Bethesda	MD	0.0
Pattern Energy Group	San Francisco	CA	0.0
Dynegy	Houston	TX	0.0
SJW Group	San Jose	CA	0.2
Chesapeake Utilities	Dover	DE	0.2
8point3 Energy Partners LP	San Jose	CA	0.0
Calpine	Houston	TX	(0.1)
Piedmont Natural Gas Co	Charlotte	NC	0.9
Vistra Energy Corp	Dallas	TX	(1.2)
Cleco Power LLC	Pineville	LA	1.1

Total all 73			235.3

The second chart below shows the Deferred Income Tax Liability Balances mostly at Dec 31, 2016 of the 87 US Utility Subsidiary Companies of many of the above Parent Utility Corporations.

			Mostly
			12-31-16
			Total
			Net
			Deferred
		State	Tax
Regulated Utilities: Electric, Gas & Water Services		HQs	Liability
			bil $s
Parent Utility Corp	Utility Subsidiary Corp
NextEra Energy Inc	Florida Power & Light Co	FL	8.5
Duke Energy Corp	Duke Energy Progress LLC	NC	3.3
Duke Energy Corp	Duke Energy Ohio	OH KY	1.4
Duke Energy Corp	Duke Energy Carolinas	NC SC	6.5
Duke Energy Corp	Duke Energy Florida	FL	2.7
Duke Energy Corp	Duke Energy Indiana	IN	1.9
Duke Energy Corp	Piedmont Natural Gas Co	NC SC TN	0.9
Dominion Energy Inc	Virginia Electric & Power Co	VA	5.1
Dominion Energy Inc	Dominion Gas Holdings LLC	VA	2.4
Dominion Energy Inc	Questar Gas Co	UT	0.5
Southern Co	Georgia Power Co	GA	6.0
Southern Co	Gulf Power Co	FL	0.9
Southern Co	Mississippi Power Co	MS	0.8
Southern Co	Southern Co Gas	GA	2.0
Southern Co	Southern Power Co	GA	0.4
Exelon Corp	Atlantic City Electric Co	NJ	0.9
Exelon Corp	Baltimore Gas & Electric Co	MD	2.2
Exelon Corp	Commonwealth Edison Co	IL	5.3
Exelon Corp	Delmarva Power & Light Co	DE	1.1
Exelon Corp	PECOEnergy Co	PA	3.1
Exelon Corp	Potomac Electric Power Co	DC	1.9
Exelon Corp	Exelon Generation Co LLC	IL	4.9
American Electric Power Co	Appalachian Power Co	WV VA	2.7
American Electric Power Co	Indiana Michigan Power Co	IN	1.5
American Electric Power Co	Ohio Power Co	OH KY	1.3
American Electric Power Co	Public Service Co of Oklahoma	OK	1.1
American Electric Power Co	Southwestern Electric Power	TX LA	1.6
American Electric Power Co	IPALCO Enterprises	IN	0.5
American Electric Power Co	AEP Transmission Company LLC	OH	0.9
Sempra Energy	San Diego Gas & Electric	CA	2.8
Sempra Energy	Southern California Gas Co	CA	1.7
PG&E Corp	Pacific Gas &Electric Co	CA	10.5
Consolidated Edison Inc	Consolidated Edison of New York	NY	9.4
Edison International	Southern California Edison	CA	9.8
Public Service Enterprise Group Inc	Public Service Electric & Gas Co	NJ	5.8
Public Service Enterprise Group Inc	PSEG Power LLC	NJ	2.0
Xcel Energy Inc	Northern States Power Co	MN	2.8
Xcel Energy Inc	Northern States Power Co	WI	0.4
Xcel Energy Inc	Public Service Co of Colorado	CO	3.1
Xcel Energy Inc	Southwestern Public Service Co	TX	1.1
PPL Corp	Kentucky Utilities	KY	1.2
PPL Corp	Louisville Gas & Electric Co	KY	1.0
PPL Corp	PPL Electric Utilities Corp	PA	1.9
Berkshire Hathaway Energy Co	Nevada Power Co	NV	1.5
Berkshire Hathaway Energy Co	Pacificorp	OR	4.9
Berkshire Hathaway Energy Co	Sierra Pacific Power	NV	0.6
Berkshire Hathaway Energy Co	MidAmericaan Energy Co	IA	3.6
Berkshire Hathaway Energy Co	MidAmerican Funding LLC	IA	3.6
WEC Energy Group Inc	Wisconsin Electric Power	WI	2.3
WEC Energy Group Inc	Wisconsin Public Service Corp	WI	0.9
DTE Energy Co	DTE Electric Co	MI	3.8
Eversource Energy	NSTAR Electric Co	MA	1.8
Eversource Energy	Connecticut Light & Power Co	CT	2.0
Eversource Energy	Western Massachusetts Electric Co	MA	0.5
Eversource Energy	Public Service Co of New Hampshire	NH	0.8
Entergy Corp	Entergy Arkansas	AR	2.1
Entergy Corp	Entergy Mississippi	MS	0.9
Entergy Corp	Entergy New Orleans	LA	0.2
Entergy Corp	System Energy Resources	MS	0.6
Entergy Corp	Entergy Louisiana LLC	LA	2.2
Entergy Corp	Entergy Texas	TX	1.0
Ameren Corp	Ameren Illinois Co	IL	1.6
Ameren Corp	Ameren Missouri Co	MO	3.0
Fortis Inc	Tucson Electric Power	AZ	0.5
Fortis Inc	ITC Holdings	MI	1.0
Idacorp	Idaho Power Co	ID	1.4
CMS Energy Corp	Consumers Energy Company	MI	3.0
CenterPoint Energy Inc	CenterPoint Energy Resources Corp	TX	1.9
CenterPoint Energy Inc	CenterPoint Energy Houston Electric LLC	TX	2.0
Alliant Energy Corp	Interstate Power & Light	IA	1.5
Alliant Energy Corp	Wisconsin Powerr & Light	WI	1.0
Pinnacle West Capital Corp	Arizona Public Service Co	AZ	3.0
OGE Energy	Oklahoma Gas & Electric Co	OK	1.8
SCANA Corp	South Carolina Electric & Gas Co	SC	1.9
UGI Corp	UGI Utilities	PA	0.6
Great Plains Energy	Kansas City Power & Light Co	MO	1.2
Vectren	Vectren Utility Holdings	IN	0.9
AES Corp	Dayton Power & Light Co	OH	0.3
WGL Holdings	Washington Gas Light Co	DC	0.9
PNM Resources	Public Service Co of New Mexico	NM	0.7
PNM Resources	Texas New Mexico Power Co	TX	0.2
Hawaiian Electric Industries	Hawaiian Electric Co Inc	HI	0.7
Spire	Spire Alabama Inc	AL	0.6
Spire	Spire Missouri	MO	0.2
MGE Energy	Madison Gas & Electric Co	WI	0.3
South Jersey Industries	South Jersey Gas Company	NJ	0.5
Black Hills Corp	Black Hills Power Inc	SD	0.2

Total all 87			190.0