According to the Public Service Commission, fifteen Wisconsin utility firms are expected to return US$140.7mn in bill credits.
Wisconsin State Journal reads: “Residential utility customers in Wisconsin will receive one-time bill credits this summer ranging from less than $2 to nearly $23, depending on the utility, with smaller monthly credits to continue the rest of the year, the PSC said Thursday, finalising a preliminary decision in April to order the refunds.
“The average residential customer of Madison-based Alliant Energy can expect some of the highest amounts back, with a one-time credit of $22.92 on their electric bills and $6.99 for natural gas during the June billing cycle, followed by monthly credits of $4.11 for electricity and $1.15 for natural gas. That totals $40mn in refunds for 2018.”
The money shows the additional tax that companies have collected from customers. The utility tax rates predicted 35% corporate tax rate.
Alliant president John Larsen said: “The rate freeze is a win for customers.
“We’ve worked hard to hold the line on costs through 2020. It’s important to us to deliver cleaner power to families and businesses while keeping rates down.”
According to Alliant Energy, its retail electric cost will increase by US$194mn in 2019 and 2020 as a result of bringing onboard the 700-megawatt, natural gas-fueled West Riverside power plant near Beloit.
The company has also informed the Public Service Commission that it will pull away from the coal-fired, 320-megawatt Edgewater 4 power plant in Sheboygan.