MGE customers to see rates jump by 9%

Regulators at the Wisconsin Public Service Commission (PSC) have approved a nearly 9% rate hike for Madison Gas and Electric (MGE) customers, according to a Wisconsin State Journal report. In part, the increased rates will cover higher fuel costs along with the company’s plans to buy part of Alliant Energy’s new natural gas plant in Beloit. The approved hike will mean the average MGE customer will pay about $8.20 more per month. The utility says the increase is driven by higher natural gas prices and an estimated $25 million increase in costs resulting from difficulties getting rail deliveries of coal to the Columbia Energy Center. An amount totaling $409,000 reflecting increases for solar and wind farm projects, and a $25 million share of the West Riverside Energy Center is also included in the increased rates.