Bill credit arriving as a result tax reform
Xcel Energy will soon distribute nearly $130 million to all Minnesota electricity customers as a result of the Federal Tax Cuts and Jobs Act. All Xcel Energy electricity customers in the state will receive a credit on their bills. The refund for a residential electricity customer will average about $45, but will vary based on each customer’s actual usage.
Xcel Energy will also distribute more than $5 million to its gas customers as a result of federal tax reform. The refund for a residential gas customer will average about $8, but will also vary depending on each customer’s actual usage.
The Minnesota Public Utilities Commission approved these refunds on August 9 and customers should receive them by the end of the year.
The MN PUC also approved Xcel Energy’s proposal to give $2 million in tax reform funds to POWERON, a program that helps keep bills affordable for low-income customers.
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit www.xcelenergy.com or follow it on Twitter and Facebook.