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Wisconsin Ag News Headlines |
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State Regulators Okay Xcel Energy Rate Hikes
Wisconsin Ag Connection - 12/14/2017
Xcel Energy customers in Wisconsin will pay more for gas and electricity next year. Last week, Wisconsin regulators authorized the utility to increase its electricity revenue by 1.35 percent and about 8.3 percent for natural gas. This could equate to about $2 a
month more for the average residential electricity bill and an additional $4.76 a month for gas.
The company asked the Public Service Commission to approve a $24.7 million increase in electricity revenues and an additional $12 million for natural gas, which it estimated would translate to about $6 more per month on the average residential electric bill and
$5.31 more for gas. That panel also approved a variety of changes that add up to additional revenues of $9.4 million for electricity and $9.9 million for natural gas.
Xcel says the increase is needed to support its infrastructure investments. They claim the primary cost drivers behind the electric rate request are a new natural gas peaking plant in the Twin Cities and upgrades to its Prairie Island nuclear plant and two aging
hydroelectric plants.
The natural gas increase is driven by investments in the distribution system, as well as ongoing cleanup costs of the company's former gas plant in Ashland.
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