Our Wisconsin customers will see no increase to base electric and natural gas rates through 2020 under a proposal we filed today with the Public Service Commission of Wisconsin (PSCW). Customer rates will drop for the remainder of 2018 due to bill credits following a separate PSCW decision issued today.
“The rate freeze is a win for customers,” said John Larsen, president of Alliant Energy Corporation. “We’ve worked hard to hold the line on costs through 2020. It’s important to us to deliver cleaner power to families and businesses while keeping rates down.”
We reached agreement on the proposal with significant input and collaboration from the Citizens Utility Board (CUB) and Wisconsin Industrial Energy Group (WIEG). If approved by the PSCW, the plan would be in effect 2019-2020. A decision is expected later in 2018.
No rate increase proposed for 2019–2020
The proposal reflects our efforts to lower operational and fuel costs, along with expected tax savings from the 2017 Tax Cuts and Jobs Act. The plan includes our investments in generating electricity from cleaner and renewable sources.
Alliant Energy’s retail electric rates are among the lowest in Wisconsin.
Immediate bill credits through end of 2018
Under a separate decision today, the PSCW specified its formula for calculating customer bill credits as a result of tax reform. We are refunding a total of $36 million for electric customers and $4 million for natural gas customers in 2018.
Residential customers will see the following bill credits:
- One-time fixed amount credits during the June bill cycle
- $22.92 for electric customers
- $6.99 for natural gas customers
- Monthly credits calculated based on usage August through December
- $4.11 for a typical electric customer using 700 kWh/month
- $1.15 for a typical natural gas customer using 700 therms/year
Business customers will see bill credits as well. Amounts are approximate and subject to final calculation.