Xcel Energy North Dakota Customers Could See $12.5 Million Through Nuclear Energy Tax Credit

(Xcel Energy image)

(KNOX) – Xcel Energy said that the company is moving forward with plans to deliver $12.5 million back to North Dakota customers on their bills through federal tax credits on the energy generated by the company’s nuclear fleet.

This is the first time customers will see savings from the federal tax credit on nuclear energy generation, which the company advocated for in recent law.

“Our nuclear power plants have produced safe, reliable, always-available electricity for our customers across the Upper Midwest for more than 50 years. Now, tax credits on the energy they generate will produce savings for our customers,” said Ryan Long, president of Xcel Energy.

If approved by the North Dakota Public Service Commission, the company’s North Dakota customers will begin seeing $12.5 million of savings in August. The average residential customer in North Dakota would receive a $4.49 a month bill credit, totaling $53.83 over the 12 months through July 2026.

Xcel Energy’s Minnesota customers recently started receiving savings on their monthly bills through the nuclear energy tax credit. Minnesota’s share of the tax credit is $176 million.