If three Wisconsin utilities providers have their way, they’ll be raising rates in 2024 (as if things weren’t already pricey enough).
Here’s Five Fast Facts About Wisconsin’s Utility Rate Increases:
- 📈 Triple Threat - Three WI utilities, Alliant Energy, Xcel Energy and Madison Gas and Electric, filed requests with the Public Service Commission to raise prices. All three blame costs associated with renewable energy projects. However, they say renewable energy projects *might* help stop any future increases. Emphasis on “might.”
- 🔥 High - Alliant is going HAM with a proposed 8.4% increase in 2024, 5.4% in 2025 and a natural gas increase of 6.3%. They’re also looking to add a 4.1% surcharge starting in October through 2025.
- 🛢️ Medium - Xcel is asking for a 4.8% increase in electric and 5.3% increase in gas. There are no mentions of 2025 increases.
- 🏭 Low-ish - Madison Gas and Electric’s request is comparatively smaller next to the others. They’re asking for a 3.75% electric increase in 2024, another 3.41 increase in 2025 along with a 2.56% gas increase in 2024, and another 1.66% in 2025.
- 🐕 Watch Out! - The Citizens Utility Board of Wisconsin, a watchdog group that advocates for utility customers (in other words: us) says the increases are really about increasing profit rates. They point out how city-owned utility companies have rates that are 30-40% cheaper. Huh?!?!
🔥Bottom line: These three utility companies seem to just blame the green energy boogeyman. But does this come down to businesses taking advantage of normal folks in order to increase revenue and profits? Some say “yes.” If you really think these prices won’t continue to increase even after renewable energy comes into play, I’ve got some swampland to sell you.
Will the price increases hurt you?
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