MADISON, Wis., June 6, 2014 /PRNewswire/ -- The Public Service Commission of Wisconsin (PSCW) today verbally approved Alliant Energy's proposal to keep electric base rates unchanged and reduce natural gas base rates for the next two years.
The natural gas base rate will be reduced $5 million in 2015 and maintained at that level through 2016.
"We are pleased that the PSCW has approved our proposal," said Patricia Kampling, Alliant Energy Chairman, President and CEO. "Rate stability is important for our customers, and we're proud that we've been able to keep our base rates steady since 2010."
Alliant Energy's electric base rates have remained stable and natural gas base rates have decreased since 2010.
The approved freeze applies to retail base rates; it excludes fuel costs for electricity and natural gas. Later this summer, Alliant Energy's Wisconsin utility will file its required annual electric fuel-cost plan, which may reflect increased fuel costs. The plan could result in higher overall retail electric rates in 2015. Natural gas fuel costs are adjusted monthly based on the cost of the natural gas commodity.
The PSCW's written order on the approval of the base rate freeze is expected within the next two months.
A decision on the fuel cost plan is expected by the end of this year.
Alliant Energy Corporation's Wisconsin utility subsidiary, Wisconsin Power and Light Company, utilizes the trade name of Alliant Energy. The Wisconsin utility is based in Madison, Wis., and provides electric service to 460,000 customers and natural gas service to 182,000 customers in more than 600 communities across central and southern Wisconsin. The employees of Alliant Energy focus on delivering the energy and exceptional service their customers and communities expect – safely, reliably, and affordably. Visit alliantenergy.com or call 1-800-ALLIANT (800-255-4268) for more information. Alliant Energy Corporation is traded on the New York Stock Exchange under the symbol LNT.
SOURCE Alliant Energy Corporation