MADISON, Wis., Oct. 24, 2012 /PRNewswire/ -- Wisconsin Power and Light Company (WPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT), received approval from the Public Service Commission of Wisconsin (PSCW) today to reduce retail electric rates by approximately 2.9 percent or $29 million in 2013 due to lower expected fuel costs next year.
"A primary focus of our corporate strategy is to provide competitively priced energy to our customers and we are pleased that we can decrease retail electric rates for them next year," said John Larsen, WPL President. "When you combine this rate reduction with our previously approved 2013-14 electric and gas base rate freeze, WPL customers will see a 2.9 percent decrease in retail electric rates and a 7 percent decrease in retail gas base rates in 2013. That's positive news for our customers and our company."
In June of this year, WPL filed its 2013 electric fuel case and requested a 2.5 percent or $25 million decrease in retail electric rates for 2013 as part of its required annual electric fuel cost plan filing. However, as WPL revised its expected 2013 fuel costs in October, fuel costs are forecasted to decline further, allowing an even larger decrease in retail electric rates for 2013.
Wisconsin Power and Light Company (WPL), based in Madison, Wis., provides electric service to approximately 459,000 customers and natural gas service to approximately 180,000 customers in more than 600 communities across central and southern Wisconsin. WPL is committed to providing the energy and exceptional service its customers and communities expect – safely, reliably, and affordably. WPL is a subsidiary of Alliant Energy Corporation, for more information, visit alliantenergy.com or call 1-800-ALLIANT (800-255-4268).
SOURCE Wisconsin Power and Light Company