Wisconsin Resident Expected to Pay More Than $500 Million More for Electric Service Next Year

Wednesday, August 16th, 2023 -- 10:01 AM

(Karl Ebert, Marshfield News Herald) Wisconsin residents would pay more than $500 million more for electric service next year under a slew of rate proposals that will be decided by state regulators this fall.

According to Karl Ebert with the Marshfield News Herald, proposed rates increases for next year range from 1.6% to 8.4%. However, there's an outlier: Wisconsin Public Service Corp., the WEC subsidiary that serves northeast Wisconsin, is proposing a 2.3% decrease.

In filings with the state Public Service Commission, the utilities cite the need to fund the cost of building solar farms and other renewable energy projects and investment in new natural gas facilities as key drivers of the increases.

But in some instances, they also are seeking to recapture unexpected fuel costs, and some also are seeking to increase the return on investment, or profit, they are allowed to earn.

The PSC is expected to finalize 2024 rates by December for We Energies, Wisconsin Public Service Corp., Alliant Energy, Madison Gas & Electric and Xcel Energy's Northern States Power Co.

That rush of activity led the Citizens Utility Board of Wisconsin to ask PSC commissioners to stagger the rate cases to allow it to participate effectively as a consumer watchdog.

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