Contact: Timothy Le Monds or Teresa Smith
(608) 266-9600
MADISON – Made possible by a sharp decline in fuel costs, today the Public Service Commission of Wisconsin (PSC) approved a reduction in Wisconsin Electric Power Company’s (WEPCO) fuel surcharge. The new fuel surcharges are $67.2 million less from $118 million in revenue from fuel charges previously approved.
“Low fuel costs have been a silver lining during these challenging economic times,” said Chairperson Eric Callisto. “The protections the Commission has in place make sure that when fuel costs drop, these lower fuel prices are reflected on customers’ electric bills as quickly and efficiently as possible.”
The PSC monitors a utility’s fuel costs on a monthly basis. On April 15, 2009, WEPCO filed its March fuel cost report showing fuel costs for that month were 12.2 percent lower then what the utility had previously forecast. The PSC determined that because of lower fuel costs, WEPCO customers were due a reduction in electric rates. The average residential WEPCO customer using 600 kilowatt-hours (kWh) per month can expect to see their electric bill drop approximately $1.60 per month.
Mitigating the impacts of increasing costs of fuel to generate electricity has been a major focus of the PSC. Volatile, unregulated natural gas prices have had a significant impact on electric rate increases in 2008 and 2009.
Documents associated with the WEPCO refund can be viewed on the Electronic Regulatory Filing System at: http://psc.wi.gov. Type case number 6630-FR-201 in the boxes provided on the PSC homepage, or click on the Electronic Regulatory Filing System button.
