JACKSON, Miss. (AP) — An energy company says customers will experience more than $300 million in benefits under a plan the Mississippi Public Service Commission approved.

Entergy Mississippi announced Wednesday the plan is a result of the Tax Cuts and Jobs Act that reduced the corporate tax rate from 35 percent to 21 percent.

Entergy Mississippi Inc. President and CEO Haley Fisackerly says in a statement the plan will let the company reduce rates and provide credits that will lower bills during summer months. He says it also lets Entergy avoid a rate increase that would have resulted from nearly $1 billion of improvements made to modernize its grid during the past three years.

The typical customer bill for 1,000 kilowatt-hours will decrease more than $12 per month from July through September.