Xcel Energy to distribute $10 Million to North Dakota customers
Xcel Energy has announced it will be distributing nearly $10 million to its North Dakota customers in the form of a credit on their bill.
The company says the rebates are a result of their savings through the Federal Tax Cuts and Jobs Act.
Xcel Energy says the North Dakota Public Service Commission approved the refunds and in addition, customers won't see a base electricity rate increase for two years.
The company says customers can expect to see a one-time credit on their bill this spring. While the refunds will vary based on customer usage, Xcel Energy expects the average refund for a residential electricity customer will be about $46.00.
Xcel Energy serves 88,459 customers in North Dakota.
North Dakota U.S. Senator Kevin Cramer had this to say about Xcel Energy’s announcement
"The tax cuts are working in North Dakota. [...] This means more stability for individual North Dakotans and more money injected into the local economy. These are the pro-growth policies that have delivered for this country over the last two years and the kind of policies we should push for years to come."
Sen. Kevin Cramer, R-N.D., on Xcel Energy announcement: