Customers of the state’s four largest public utility companies should see refunds due to low energy costs in 2018.
The Wisconsin State Journal reports that customers are due about $25 million in refunds, with the bulk of that money going to Madison Gas and Electric ratepayers.
Officials from Madison Gas and Electric say they collected about $9.5 million more than they should have thanks to lower gas prices and the acquisition of a portion of the Forward Energy wind farm. Their average customer will see a refund of about $20 on their upcoming bills.
Representatives from WPS say they will also be issuing refunds totaling $7.1 million, or around $5.25 per customer.
Xcel Energy and Alliant Energy customers will also get refunds.
The state Public Service Commission sets utility rate prices every two years based on fixed expenses and the average cost of fuel. When those projections are off by more than 2% above actual costs, the difference must be refunded to customers with interest.
WSAU