Madison, Wis., March 30, 2006–Madison Gas and Electric Co. (MGE) today
filed with the Public Service Commission of Wisconsin a second fuel cost
credit this year that would lower electric rates by an additional $2.1
million. Coupled with the credit approved earlier this month, the
reductions total $4.1 million.
A typical MGE residential customer using 600 kilowatt-hours a month will
now save about $1 per month for the remainder of this year. The rate
reduction is primarily due to lower-than-predicted natural gas prices for
electric generation during January and February.
If natural gas prices remain lower than projected, MGE expects additional
electric rate reductions in 2006. The proposed rate reduction is expected
to become effective in early April.
MGE generates and distributes electricity to nearly 136,000 customers in
Dane County and purchases and distributes natural gas to more than 137,000
customers in seven south-central and western Wisconsin counties. MGE has
served the Madison area since 1896.