EAU CLAIRE (June 29, 2018) – Lower prices for the natural gas Xcel Energy uses to produce electricity have led to a request to reduce the monthly fuel charges Wisconsin customers pay, a move that will result in lower bills.
Today, the company filed a request with the Public Service Commission of Wisconsin to lower the customer rate about $2.6 million or 0.4 percent, effective Jan. 1, 2019.
“Low natural gas prices are the main factor in bringing down our overall fuel costs,” said Karl Hoesly, regional vice president, Rates and Regulatory Affairs. “We are also realizing the benefits of investing in carbon-free renewable resources, like fuel-free wind energy, and that ultimately means cost savings for our customers.” These savings will be combined with benefits being returned to customers from the recent federal tax reform, which further lowers customer’s bills.”
The PSCW will review the request over the next few months, including making adjustments to fuel prices as necessary, and make a final decision on rates later this year.
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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.
