PUC approves tax cut benefit plan for Xcel Energy customers

PIERRE, S.D. (WNAX) – The South Dakota Public Utilities Commission has approved a tax cut benefit plan for Xcel Energy customers.

Xcel Energy will soon distribute approximately $11 million to their South Dakota customers because of the Federal Tax Cuts and Jobs Act. All Xcel Energy customers in the state will receive a one-time credit on their bills. The estimated refund for a residential customer will average approximately $56 but will vary based on each customer’s actual usage.

PUC Chair Kristie Fiegen says it’s a good deal for consumers.

Fiegen says as an additional part of the agreement, South Dakota customers will not see any increases in their base electric rates.

Fiegen says the deal also assures stable rates for several years.

The rate deal extends through 2021.