Contact: Timothy Le Monds or Teresa Smith
(608) 266-9600
MADISON – Made possible by a drop in fuel costs, today the Public Service Commission of Wisconsin (PSC) approved an $18.5 million refund for electric customers of Wisconsin Electric Power Company (WEPCO).
“Lower than projected fuel costs are the main drivers behind the Commission approving this refund today,” said Chairperson Eric Callisto. “The protections we have in place make sure that customers see refunds when fuel prices drop.”
The PSC monitors a utility’s fuel costs on a monthly basis. On January 28, 2009 WEPCO filed an application with the Commission to refund its overall 2008 fuel costs and accrued interest. The PSC determined that because of lower fuel costs, WEPCO customers were due an $18.5 million refund. The average WEPCO customer using 600 kilowatt-hour (kWh) per month can expect to see a one-time refund of approximately $5.50 on their May 2009 electric bill.
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.
Documents associated with the WEPCO refund can be viewed on the Electronic Regulatory Filing System at: http://psc.wi.gov. Type case number 05-UR-103 in the boxes provided on the PSC homepage, or click on the Electronic Regulatory Filing System button.
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