Xcel Energy Refunds: How Much Money Will South Dakotans Save?

South Dakota customers of Xcel Energy are about to see their electricity bills drop as the utility company has announced it is sending more than $130 million in additional savings to its Upper Midwest customers from federal tax credits on the energy generated by the company’s nuclear fleet.

So, how much will bills be reduced in the Mount Rushmore State?

The average refund, based on average residential usage, will be $2.26 per month in South Dakota over 10 months, likely to start May 1. Overall, the total refund in South Dakota is $6 million.

The total savings are part of $330 million in tax credits for a pair of Xcel's nuclear facilities in Central Minnesota - the Monticello and Prairie Island plants. Those plants have accounted for 27% of the electricity used by customers across the company’s five-state Upper Midwest system in 2025.

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