Wisconsin Rate Case
May 29, 2009
Xcel Energy to file rate request for 2010-11
Company asks to increase electric, maintain natural gas rates
EAU CLAIRE, Wis. – Xcel Energy announced today it will file a request with the Public Service Commission of Wisconsin (PSCW) to increase electric rates and maintain natural gas rates effective Jan. 1, 2010. The increase in electric rates is necessary to continue to maintain safe and reliable service for its customers and support ongoing investments in cleaner sources of energy. The proposed increase has been partially offset by recent decreases in electric fuel costs. In addition, the company is asking that there be no change to natural gas rates through December 2011.
Xcel Energy is requesting to increase retail electric rates by $30.4 million (5.7 percent) when compared to current rates. A typical residential electric customer’s monthly bill would increase by approximately 5.6 percent, or $4.56 per month. Increases for commercial and industrial customers would range from 5-7 percent, depending upon their size and usage characteristics. If approved, Xcel Energy will continue to have among the lowest residential, commercial and industrial electric rates in the state.
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“We know that these are challenging economic times for our customers, and we would not ask for a rate change unless it was necessary to maintain safe and reliable service,” said Mike Swenson, president and CEO of Northern States Power Company-Wisconsin, an Xcel Energy company. “In the next two years, we will continue to make significant investments to strengthen our generation, transmission and distribution systems and add cleaner sources of energy. It is critical to our communities that we continue to make these investments over the long term and that the electric system is able to provide the foundation needed to support economic recovery.”
Wisconsin Renewable Energy
In response to current economic conditions, Xcel Energy has taken a number of steps to reduce costs without impacting service to customers. This includes eliminating executive salary increases and upper management positions, cutting employee expenses, reducing and delaying salary increases for all non-union employees and refinancing debt at favorable rates.
Swenson acknowledged that any increase in electric rates may present financial challenges for some and encourages customers to take full advantage of the many programs offered by Focus on Energy (www.focusonenergy.com) to improve the overall energy efficiency of their homes and businesses and reduce their bills.
Xcel Energy also has several free online energy conservation resources available including the Home Energy Analyzer, Energy Calculator and ENERGYsmart Library. Customers can take advantage of these resources by logging onto www.xcelenergy.com/infosmart.
The PSCW will hold hearings on the application in the fall in Madison. A full hearing schedule, when determined, will be available on the PSCW's Web site at http://psc.wi.gov/.
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