
Xcel Energy Gives Back With $130 Million in Customer Refunds
MINNEAPOLIS (WJON News) -- People could soon see some relief from their energy bills. Xcel Energy says it is starting to send more than $130 million in refunds to its customers thanks to federal tax credits the company generated from its nuclear plants at Monticello and Prairie Island.
North Dakota residents will see an average refund of $2.05 a month.
The average refund for residents in Minnesota is expected to be around $2.46 per month over a nine month period starting on Wednesday. The total refund in Minnesota is $83.1 million.
Xcel Energy President for Minnesota, North Dakota, and South Dakota, Bria Shea, says both nuclear plants are critical to the region's energy security, and combined, they deliver more than one quarter of the electricity that the upper Midwest uses to power homes and businesses.
Nuclear energy is carbon-free and available 24/7.
The federal tax credit for nuclear energy generation started in 2022 under a federal law and continued through 2025. Last year, Xcel Energy's two nuclear power plants accounted for 27% of the electricity used by customers across the company's five-state Upper Midwest system.

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