Xcel Energy to distribute $10.9M in rebates to South Dakota customers

(KSFY) - Xcel Energy says it will soon distribute $10.9 million in rebates to all South Dakota customers, as a result of the Federal Tax Cuts and Jobs Act.

The estimated refund for a residential customer will receive a one-time credit of approximately $55.73, but will vary based on each customer’s actual usage.

The South Dakota Public Utilities Commission staff and Xcel Energy filed a joint motion with the Commission on June 25 asking for approval to refund customers this money. The Commission approved this motion on Tuesday.

As an additional part of the agreement, South Dakota customers will not see any increases in their base electric rates until at least Jan. 1, 2021.