State regulators recently approved a reduction in 2024 electricity rates for customers of Wisconsin Public Service Corp. (WPS) in northeastern and northern Wisconsin, according to a press release. The state Public Service Commission (PCS) authorized additional costs for new generation projects the utility has built, but those costs were offset by declining fuel costs expected in 2024.
The PSC voted to reduce WPS rates by $32.8 million, or 2.6%. The utility’s customers saw an increase on bills in 2023 when it decided the WPS rate case last fall. Taken together with this year’s 9% increase and the projected drop for 2024, residential customers’ bills in 2024 will be about 6.5% higher than they were in 2022.
The PSC also indicated it will:
- Seek savings for customers on dead coal plants;
- Look at better ways to divvy up costs between small customers and big business in the future; and
- Stay focused on energy burden and affordability.
The decisions will be formalized in a written order that the PSC will issue next month. WPS is expected to apply for another rate increase for 2025–26 next spring.
