Alliant Energy (NYSE: LNT)’s Wisconsin utility, Wisconsin Power and Light Co., has asked for a 1.9 percent increase in electric rates for the 2014 calendar year to compensate for higher electric fuel costs. The request was included in the utility’s annual electric fuel cost plan filed with the Public Service Commission of Wisconsin (PSCW).
The rate increase would result in a monthly increase of about $1.14 for the typical residential customer. The increase would vary for residential, commercial and industrial customers, depending on their usage patterns and the final rate level authorized by the PSCW.
According to a release from Alliant, the utility was able to manage fuel expenses in 2012 so that actual costs came in lower than what was collected during the year, resulting in a savings for customers. The utility is requesting those savings be applied to 2014 fuel costs. Without those savings, the company stated customers would likely experience a 3.1 percent rate increase.
Alliant said it expects is filing to receive PSCW approval by the end of the year and become effective Jan. 1, 2014 and be in place until the end of 2014.
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