Montana-Dakota Utilities Co. electric customers will see refunds and reduced rates from the utility’s federal tax cut benefits.
In January, the North Dakota Public Service Commission ordered the company to report savings from its reduced federal income tax rate. As a result, it was determined MDU should return $8.5 million annually to customers, Commissioner Julie Fedorchak said.
After some discussion, the commissioners unanimously voted to amend the original proposal, which would have allowed the company to keep $300,000, to instead give the full value of the tax credit to ratepayers.
Commissioner Randy Christmann said he insisted the tax benefit be passed on.
“Today is the fulfillment of that effort,” he said.