Your utility bill could start to get a bit more affordable. The public service commission did some investigating to see how the new tax code will impact utility service providers in the state, and we think you’ll be happy with the results.
MDU is seeing a reduction in required revenue by nearly $2 million . And that’s not even the full difference they expect. MDU Currently has an application submitted for approval with the public service commission to increase their rates. It won’t be until about two more weeks that we will know the full difference in MDU’s rates — taking into account the new tax code and their application for rate increase.
For those of you that receive your gas and electric from Xcel, North Dakotans can expect their costs of service for electric operations decrease by about 5 percent compared to what they would be without the Tax Code and Jobs Act. Xcel also expects natural gas rates to be lowered by 2 percent.
For Great Plains customers, the preliminary tax savings in North Dakota is estimated to be about $200,000. The Company will submit a proposal as part of the pending rate case to address the impacts of the TCJA in the next month.