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North Dakota PSC approves Xcel tax reform settlement

BISMARCK -- North Dakota utility regulators unanimously approved an agreement with Xcel Energy requiring it to refund its electric customers in the state almost $9.8 million due to federal tax cuts Wednesday, Feb. 6.

The agreement was first unveiled in October before the all-Republican Public Service Commission gave its blessing Wednesday. It includes a two-year moratorium preventing the company from imposing new base rates until 2021.

Minneapolis-based Xcel Energy previously estimated residential customers would see an average one-time refund of $46.

The settlement was a response to the federal tax cuts backed by President Donald Trump that passed in 2017.

John Hageman

John Hageman covers North Dakota politics from the Forum News Service bureau in Bismarck. He attended the University of Minnesota in the Twin Cities, where he studied journalism and political science, and he previously worked at the Grand Forks Herald and Bemidji Pioneer.  

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