MADISON, Wis. (AP) — Refunds are in store for customers of the four largest for-profit utilities in Wisconsin.
Ratepayers are due more than $25 million because of low energy prices in 2018. The Public Service Commission sets rates one to two years in advance after taking into account fixed expenses and estimates of the cost of fuel. And, when the projections are more than 2% of actual costs, utilities must refund the difference, plus interest.
The State Journal says Madison Gas & Electric customers should see the largest refunds, coming to about $20 for most households. The utility collected about $9.5 million more than its actual costs. The utility spokesman Steve Schultz says the savings resulted from lower gas prices and the acquisition of part of the Forward Energy wind farm.
The other utilities are Alliant, WPS and Xcel.