Some utility customers to pay lower electric rates in 2013
Customers of Wisconsin Power & Light will pay lower rates for electricity in 2013.
The Wisconsin Public Service Commission gave preliminary approval Wednesday to a 2.9 percent reduction in retail electric rates. For the Madison-based utility, it will mean dropping rates by $29 million in 2013.
The Wisconsin State Journal reports WP&L's electric rates are being lowered because it is costing the company less to produce power.
WP&L had requested a 2.5 percent electric rate cut earlier this year, but revised its proposal this month when forecasts said fuel costs will keep going down.
The company serves about one-third of southern and central Wisconsin, mainly outside Madison.
Wisconsin Public Service Corporation (WPSC) customers will benefit from a rate-freeze settlement approved by the commission unanimously. The utility had originally requested a 9 percent increase in electric rates, but after a commission staff audit, the utility and customer groups were able to reach an agreement to avoid an increase for 2013. In addition, WPSC’s 2013 retail natural gas distribution rates will decrease in 2013.
The new rates will take effect on Jan. 1, 2013.