Another step forward Thursday in the sale of WE Energies' Point Beach Nuclear Plant.
The Public Service Commission approved the billion dollar sale to Florida Power and Light Tuesday with conditions. Now there's word the two companies have agreed to those conditions. The sale can proceed.
Once the sale is finalized, the PSC's Eric Callisto says nothing will really change for WE Energies customers. In fact he thinks they will have more security in the stream of electricity from the plant and in its cost.
Actually, hundreds of millions of dollars will be transferred back to ratepayers. The open ended question is, in what form? It could be a refund, lowered rates or a guard against future rate hikes.
But Callisto says that will be decided by the PSC as part of a rate case hearing. WE Energies happens to have an open rate case before the commission now.
