Xcel Energy Proposes To Refund $318 Million To Customers

MINNEAPOLIS (WJON News) -- An energy company is proposing to give back millions to customers in refunds in March. Xcel Energy has announced it plans to refund $318 million to customers from federal tax credits generated by the company's nuclear plants.

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It is the first time customers will see savings from the tax credit on nuclear energy, which the company advocated for. The nuclear energy credit will make up $176 million of the refund, with $94 million coming from lower fuel costs, and $48 million is related to a 2011 outage at the Sherco Plant in Becker.

If Approved by the Minnesota Public Utilities Commission, Xcel Energy estimates the average person will see a total refund of about $81 on their monthly bill through March.