Xcel Energy’s North Dakota electric customers could be getting some money back, in the form of a one-time bill credit.
The reason: Xcel made too much money in 2017.
Public Service Commissioner Brian Kroshus said it's close to $3 million.
"It would equate to approximately $13.70 for the average customer," Kroshus said.
Commissioner Julie Fedorchak said this is the first time since she’s been a member of the PSC that there has been an "earnings refund."
"It sends a message to ratepayers that the rates aren't always set, and then that's the end of it," Fedorchak said. "If the company is charging too much, or earning more than they're allowed by the PSC's orders, there are mechanisms to return some of the excess to customers."
The PSC has opened a window for a hearing on this refund. Added to other refunds – for ending its biomass contracts in Minnesota and a settlement refund from the US Department of Energy concerning nuclear waste -- the one-time credit would be $16.78.
