WPL customers to get one-time $18 million credit

From a news release issued by the Public Service Commission:

MADISON – Made possible by a steep drop in fuel costs, today the Public Service Commission of Wisconsin (PSC) approved an $18 million refund for electric customers of Wisconsin Power and Light (WP&L).

“Lower than projected fuel costs are the main drivers behind the commission approving this refund today,” said Chairperson Eric Callisto. “The protections we have in place make sure that customers see refunds when fuel prices drop. It is important that the PSC continue to work diligently to make sure that when fuel costs do dip, the ratepayers can see the benefit as quickly as possible.”

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 $18 million refund. In the next couple months, the average WP&L customer can expect to see a onetime refund of approximately $14.00 on an upcoming electric bill.