WE ENERGIES RATE CASE HIGHLIGHTS
In May 2023, We Energies filed an application to change electric rates in 2024.
In PSC case 5-UR-110, We Energies is seeking:
Electric increase: $86 million (2.5%)
- Projected increase for residential customers – 3.1%, or $3.87 per month for a typical residential customer using 660 kWh of electriciy per month
Natural gas increase: - $22.2 million, or 2.9% for Wisconsin Gas customers
- $23.9 million, or 4.5% for Wisconsin Electric Gas customers
KEY ISSUES IN THIS CASE
- Dead Coal Profits: The utility seeks to keep earning profit long after the older Oak Creek coal plant shuts down in The PSC will review alternatives to save customers money.
- New Solar, LNG plants: Roughly half of the electric hike is linked to new generation projects such as solar and natural gas plants. LNG projects are driving the natural gas increase.
- Point Beach: The costly power purchase agreement electricity generated by the Point Beach nuclear plant is pushing up fuel costs in this case.
AFFORDABILITY
- We Energies’ Low Income Forgiveness Tool, launched in 2021, will be reviewed and may be modified. The PSC is reviewing the utility’s policies, including a $600 reconnection down payment.
- We Energies, CUB, Walnut Way and others are collaborating to develop other ideas, such as a percent of income credit, to help customers who are struggling to make ends meet.
UPDATE ON PROFITS
- WEC’s Wisconsin utilities reported $758 million in profit in 2022. The WPS profit rate won’t be changed this year because that was decided in 2022.
- The PSC reduced We Energies’ profit rate to 9.8%, still far too high.
- CUB advocated for a bolder reduction, to 9%, for We Energies.
- Customers across the country are overpaying by billions from profit rates that have remained far too high for far too long.
TIMELINE
- Ongoing: PSC Audit, Analysis
- September: CUB experts, PSC staff weigh in
- Oct. 9: Public Hearing, 2 p.m. and 6 p.m. in Milwaukee
- Nov/Dec: PSC Decision
FIND OUT MORE
- See the filings in the case at the PSC here.
HAVE YOUR SAY
- Attend the public hearing in at 2 p.m. or 6 p.m. Monday, Oct. 9 at Clinton Rose Senior Center, 3045 N. Martin Luther King Drive, Milwaukee, or participate by Zoom, either at https://us02web.zoom.us/my/pschearings, or by phone at 312-626-6799 using Meeting ID 809 513 2930.
- Submit a written comment to the PSC here. The public comment deadline is Monday, Oct. 16.