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Published June 21, 2013, 12:17 PM

MDU to refund customers electric bill overcharges

BISMARCK, N.D. (AP) — North Dakota regulators say Montana-Dakota Utilities Co. customers will be getting a break on their electric bills over the next two months.

BISMARCK, N.D. (AP) — North Dakota regulators say Montana-Dakota Utilities Co. customers will be getting a break on their electric bills over the next two months.

North Dakota's Public Service Commission says MDU customers should see an average credit of $16.48 beginning with their July electric bill.

The Public Service Commission says the credit is the result of an earnings sharing agreement MDU reached with regulators in 2010.

The agreement capped MDU's return on equity at 10.75 percent and required the Bismarck-based company to return 50 percent of anything above that threshold to ratepayers.

MDU reported that its 2012 return on equity was 13.3 percent, resulting in $3 million excess. The company also earned $1 million excess in 2011 that also is included in the refund to customers.

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