Mon Mar 03 23:30:00 UTC 2025: ## Xcel Energy to Refund Minnesota Customers $318 Million
**Saint Paul, MN** – Xcel Energy announced Monday a $318 million refund to its Minnesota customers, averaging $81 per residential account. The refund is largely attributed to a new federal tax credit for nuclear energy production under the Inflation Reduction Act, totaling approximately $176 million. This marks the first time Minnesotans will see savings directly resulting from this credit, which Xcel actively supported.
The remaining $142 million stems from lower-than-anticipated fuel costs ($94 million) and a settlement related to a 2011 outage at the Sherco coal plant ($48 million). The refund comes as state legislators consider lifting the moratorium on new nuclear energy facilities in Minnesota. While Xcel has proposed the refund, the Minnesota Public Utilities Commission still needs to approve it.
First Piper 