WisBusiness: PSC approves We Energies rate hike

By WisBusiness Staff

The Wisconsin Public Service Commission today granted We Energies a $90 million rate increase, which translates into an average 4 percent boost. It will take effect on Jan. 1.

Industrial users will see a 2 percent to 3 percent rate hike, while residential customers will face a 5 percent to 6 percent hike in their utility bills. The PSC says the average residential customer will see a monthly increase of approximately $5 for electric service as a result of this adjustment.

The Milwaukee-based company had proposed an increase of approximately $190 million to pay for its Oak Creek plant and transmission system upgrades.

A company spokesman said We Energies also was seeking the increase to cover revenue losses from lower sales because of the slowdown in the economy.

Todd Stuart, executive director of the Wisconsin Industrial Energy Group, said his organization is reviewing the PSC ruling.