Public Service Commission of Wisconsin to hold hearings Monday for We Energies 2024 rate proposals
MILWAUKEE (CBS 58) -- With the frost advisory and other colder weather quickly approaching, many are wondering what their heating bills will look like this winter.
The good news? For customers who use natural gas, there could be a five-to-ten dollar decrease each month.
According to We Energies spokesperson Brendan Conway, you can thank overall lower natural gas prices.
“What we’ve been able to do is buy a lot of cheap, natural gas over the summer, keep it in storage, and then as the weather starts to cool and we release it for customers to use in their furnaces, that’s why we expect bills will be down this year compared to last winter," Conway told CBS 58.
And before the weather gets too chilly, Conway recommends changing your furnace filter, making sure your HVAC system is working efficiently, and sealing the cracks and gaps between windows and door spaces.
But when it comes to electric bills? The utility is proposing an increase to residential electricity costs that would start next year.
“What we’re asking for is a 1.6% increase in base rates and then you add in the cost of fuel," Conway said. "We expect customers, as proposed, to pay a little less than four dollars more a month in their electric side."
That near four dollars could add up.
Now the Public Service Commission of Wisconsin is considering a limited rate filing for We Energies customers.
The limited rate filing is driven by new investments in electric and natural gas infrastructure that have already been approved by the PSCW and that go into service in 2023 and 2024," a news release said. "The filing includes significant investments in renewable energy and savings from the planned retirement of coal-fueled units at the Oak Creek Power Plant."
The utility's overall request includes:
- $86.3 million (2.5%) for electric rates (including changes in fuel costs).
- $22.2 million (2.9%) increase for Wisconsin Gas LLC natural gas rates.
- $23.9 million (4.5%) increase for Wisconsin Electric Gas Operations natural gas rates.
"So, the costs that we're occurring now is what we’re starting to see in bills, but we expect over the next 20 years, customers are actually going to save about two billion dollars, compared to keeping our older plants open," Conway said.
The PSC will hold two public meetings on Monday, Oct. 9 at 2 p.m. and 6 p.m. at the Clinton-Rose Senior Center located at 3045 N. King Dr.
If you can't make it in person, the hearings will also be livestreamed on Zoom.
Both spoken and written comments will be accepted.