Contact: Kristin Ruesch or Matt Pagel, 608-266-9600
MADISON – In an effort to strike a balance that protected ratepayers while allowing recovery of prudently-incurred utility costs, the Public Service Commission of Wisconsin pared back a Madison Gas & Electric rate-increase request today.
Madison Gas & Electric originally requested a 5.82% increase in electric rates, but the PSC cut that number to 3.81% in its decision today. Increased sales forecasts, a decrease in fuel costs, and a reduction in allowable administrative costs all contributed to the final number.
The PSC trimmed the company’s natural gas rate-increase request back as well. MG&E originally requested a 2.59% increase in natural gas rates, but the PSC only allowed a 0.97% increase.
This is the third 2013 rate decision the Commission has decided this year for Wisconsin’s five major investor-owned utilities. The Commission has already approved rate-freeze settlement requests for Wisconsin Power & Light Company and the Wisconsin Public Service Corporation. Decisions for rate case applications from Wisconsin Electric Power Company and Northern States Power Company will be made by the end of the year.