GREEN BAY, Wis., March 20 /PRNewswire/ — The Public Service Commission of Wisconsin (PSCW) today approved a monthly increase in 2008 electric rates for Wisconsin Public Service customers due to increased fuel and purchased power costs for the company. The increase amounts to about $1.68 monthly for typical residential customers using 630 kilowatthours of electricity. Wisconsin Public Service Corporation is a subsidiary of Integrys Energy Group (NYSE:TEG) .
Contributing factors in the rate change were increased purchased power costs due to a later start-up of the new Weston 4 power plant, increased coal and coal transportation costs, and increased natural gas costs. Previously, Public Service projected that the Weston 4 plant had a chance to begin generating start-up electricity in January 2008. The assumption turned out to be optimistic. However, the project is still on schedule for a commercial operation date of June 2008.
Shortly, as part of its normal process for establishing rates, Public Service will make its request for rate changes that will become effective in 2009.
About Wisconsin Public Service Corporation:
Wisconsin Public Service Corporation, a wholly owned subsidiary of Integrys Energy Group, Inc. (NYSE:TEG) , is an investor-owned electric and natural gas utility headquartered in Green Bay, Wisconsin. It serves approximately 420,000 electric customers and 309,000 retail natural gas customers in residential, agricultural, industrial, and commercial markets, as well as wholesale customers. The company’s service area includes northeastern and central Wisconsin, as well as an adjacent portion of Upper Michigan. Information is available online at http://www.wisconsinpublicservice.com/.
First Call Analyst:
Source: Wisconsin Public Service Corporation