Xcel customers should see first utility tax credits this summer

Xcel Energy customers are among the big winners in the utility credits ordered by the Wisconsin Public Service Commission.

The Commission on Thursday ordered utilities across the state credit customers for the tax windfall collected after the feds cut this year’s corporate tax rate from 35 percent to 21 percent.

“So, the bottom line is, it’s money they shouldn’t be allowed to keep and so that’s good to see it’s coming back. The process is that customers may see a credit of some sort on their bills this summer and then some smaller credits the rest of the year, as they try to return this money.”

The PSC ordered a total of $130 million refunded to customers — $30 million will go just to Xcel Energy’s 247,500 customers in Wisconsin.

“Not surprised because we’re seeing utility customers around the country have already seen some savings and Wisconsin is now joining them,” Content said. “Utility companies in Baltimore were starting to issue refunds in January.”

Utilities already set 2018 rates when the feds in December slashed corporate tax rate and it’s not clear what that will mean for the average consumer just yet.

“We wish they’d been a little more consistent across the state with some utility customers,” Content said. “The northern part of Wisconsin won’t get as much back as they could have.”

It’s unclear yet how much individual credits will be as they do not apply to cooperatives like Dairyland Power.