click for larger version
Yesterday the Pennsylvania Public Utility Commission (PUC) posted detailed information about this year’s distribution of last year's impact fees on natural gas producers. PA raised a total of $146 million from Act 13 impact fees (PA's version of a severance tax). That is by far the lowest annual amount raised and distributed by impact fees--some $46 million less than last year. Given the hit of COVID-19 in 2020 (resulting in less drilling) and the low price of natural gas at Henry Hub (the tax rate assessed for each well was in a lower revenue tier) we're not surprised. Next year will look far different.
To view this content, log into your member account. (Not a member? Join Today!)
