Madison, Wis., May 4, 2011—Madison Gas and Electric (MGE) today filed an application with the Public Service Commission of Wisconsin (PSCW) for a limited rate reopener to increase electric and natural gas rates for 2012.
The request increases electric rates 4.9% and natural gas rates 1.2%. If approved, the average residential electric bill will increase $4.04 a month and the typical monthly gas bill will go up $0.75. The changes are proposed to be effective Jan. 1, 2012.
In the last five years, MGE’s average increase in electric rates has been 1.9%. During the same period, the Consumer Price Index has gone up an average of 2.2%.
The limited rate case is focused on three areas: (1) mandated higher payments to the statewide public benefits program (Act 141, which funds energy efficiency and renewable energy initiatives), (2) increased costs related to the Midwest Independent System Operator and purchased power and (3) improvements to the state’s electric transmission system. All other company operations and maintenance budgets remain under strict cost controls at levels set by the PSCW in January 2011.
MGE generates and distributes electricity to 139,000 customers in Dane County, Wis., and purchases and distributes natural gas to 143,000 customers in seven south-central and western Wisconsin counties. MGE’s parent company is MGE Energy, Inc. (Nasdaq: MGEE). The company’s roots in the Madison area date back more than 150 years.
Stephen R. Kraus
Manager – Media Relations
Madison Gas and Electric Co.
E-mail address: [email protected]