Xcel electric customers will get a bill credit, because of a lawsuit settlement
North Dakota Xcel Energy customers will shortly see a credit on their utility bills.
But how much that credit will be isn’t known.
The Public Service Commission approved Xcel’s plan to use the fuel cost rider on the bill.
"That's in order to pass on to customers the financial settlement from General Electric, related to a turbine failure at NSP's Sherco Three generator," said PSC Chairman Brian Kroshus.
The Sherco plant is in Becker, Minnesota.
The failure happened in 2011. Kroshus said it was due to a design flaw.
Kroshus said the settlement between Xcel and GE is confidential.
"It's trade secret, in terms of the amounts received," Kroshus said. "I can't provide specific numbers (for the refunds) as a result."
But Kroshus said customers will see the amount reflected in their bills in about 45 days.
Kroshus said because Xcel had to buy replacement power in the marketplace, that cost was passed directly on to customers – so the settlement will be completely passed on as well.