EAU CLAIRE, Wisconsin (Aug. 1, 2019) – Today, the Public Service Commission of Wisconsin approved a settlement agreement that keeps customers’ electricity and natural gas rates below January 2018 levels through 2021.
While the PSCW made relatively minor modifications to the original agreement filed in May, customers will still see stable bills. 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.
“We are pleased the PSCW has approved a plan that will keep our customer bills stable,” said Karl Hoesly, regional vice president, Xcel Energy Rates and Regulatory Affairs. “The benefits of ‘steel for fuel’ – swapping out fossil generation for fuel-free wind and solar – as well as tax reform allowed us to propose a plan that benefits all of our customers.”
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.
The new rates go into effect Jan. 1, 2020.
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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.