The Public Service Commission ordered three Wisconsin utilities to refund ratepayers $28.3 million in fuel savings from 2019, according to a Wisconsin State Journal report. Alliant Energy, Xcel, and Wisconsin Public Service Corp. will refund customers in September.
Lower natural gas prices, renegotiated contracts, and market sales caused fuel costs to be lower than expected and state law mandates that fuel costs can only vary up to 2% from the estimates. Actual costs falling below the threshold must be refunded.
We Energies will be able to keep its .85% below-cost surplus while Madison Gas and Electric is able to keep about $1.5 million in customer funds while it negotiates with customer advocates on rates for the next two years.
