Refunds Coming to Many Wisconsin Utility Customers
(Wisconsin Radio Network) Customers of the state’s four largest public utility companies
should see refunds due to low energy costs in 2018.
Media reports say that customers are due about $25 million
in refunds, with the bulk of that money going to Madison Gas and Electric
Officials from Madison Gas and Electric say they collected about
$9.5 million more than they should have thanks to lower gas prices and the
acquisition of a portion of the Forward Energy wind farm. Their average
customer will see a refund of about $20 on their upcoming bills.
Representatives from WPS say they will also be issuing refunds
totaling $7.1 million, or around $5.25 per customer.
Xcel Energy and Alliant Energy customers will also get refunds.
The state Public Service Commission sets utility rate prices every
two years based on fixed expenses and the average cost of fuel. When those
projections are off by more than 2% above actual costs, the difference must be
refunded to customers with interest.