PSC approves $12.7 million refund for WP&L customers

From a media release issued by the Public Service Commission:

MADISON – Today the Public Service Commission of Wisconsin (PSC) approved a $12.7 million refund for electric customers of Wisconsin Power and Light (WP&L)

“This is good news for ratepayers during a very challenging time,” said PSC Chairperson EricCallisto.

“Last year, when we set the 2007 electric rates for WP&L, natural gas prices were skyrocketing. The protections we have in place make sure that customers see much needed refunds when fuel prices drop.”

The PSC performs monthly fuel cost audits and monitors how much the utility is collecting from customers. The PSC determined that because of lower fuel costs, WP&L customers were due a $12.7 million refund. The average WP&L customer can expect to see a refund of approximately $7.12 on their electric bills.