Xcel Energy has announced it will be giving its Texas customers $16 million worth of refunds. The refund would translate to $14 in credit on residential bills in October, if the Public Utility Commission of Texas approves, according to Xcel energy.
Cindy Porter, Chamber of Commerce President in Petersburg, said the energy company has made a difference in the town.
“We’ve had a great partnership with XCEL and anything to do with the wind farm,” Porter said.
Porter said Xcel has been involved in the city, particularly with the economy. She said tax revenues raised by the company will be used to fund a new school.
“I’m excited for our school because I taught school for thirty years so I’m very very excited for our community,” Porter said.
According to Xcel energy, fuel costs have decreased a substantial amount. Fuel costs are funded through residential bills and make up between 20 to 30 percent of bills. The money is used for coal and natural gas.
Due to low cost of natural gas and the use of wind power which does not require fossil fuels, Xcel said it does not require so much money in fuel costs.
“It’s a pass thorugh because we’re able to burn less natural gas, burn less coal due to the electricity that’s being produced here,” Bryant Coon, the Senior Sitting and Land Rights Agent said.