EAU CLAIRE, Wisconsin (May 28, 2019) – Xcel Energy and several customer groups recently filed a first-ever agreement with the Public Service Commission of Wisconsin that keeps electricity and natural gas rates below January 2018 levels through 2021.
Under the agreement, typical residential electric bills will be approximately 5% less in 2020 and 1% less in 2021 compared to January 2018. Typical residential natural gas bills will be approximately 5% less in 2020 and 2021 compared to January 2018. Business customers will see similar savings based on their rate class, usage characteristics and type of service.
“This agreement is significant and benefits all of our customers,” said Mark Stoering, president, Xcel Energy-Wisconsin. “It allows us to stabilize customer bills over a four-year period while continuing to make investments to maintain safe, reliable and increasingly clean energy.” As a national leader in clean energy, Xcel Energy has announced a plan to deliver 100 percent carbon-free electricity by 2050 without compromising reliability or affordability. Improved technology has led to a significant decline in the cost to produce clean energy, enabling the company to reduce carbon emissions and costs for its customers.
“Our plans allow us to harness the clean energy resources in our region while delivering outstanding value to our customers,” said Stoering. “We are well positioned for the future and focused on leading the clean energy transition while keeping customer bills stable.”
More opportunities to save energy and money
Xcel Energy encourages customers to take advantage of conservation opportunities to help manage their energy budget. Energy efficiency resources and program information is available on xcelenergy.com or from Wisconsin’s Focus on Energy program.
The PSCW will review the proposed settlement agreement. A decision is expected later this summer.
###
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
