(The Center Square) – Wisconsin’s Public Service Commission agreed to a $31.3 million increase settlement to residential rates for electricity and natural gas for Madison Gas and Electric customers over the next two years, according to preliminary estimates from the PSC sent to The Center Square.
The approval comes soon after similar approvals for Alliant Energy and Xcel Energy that amount to $300 million in increases, meaning the three combined increases will be valued at more than $330 million.
The increases will go into effect Jan. 1. The three utilities will hold 9.8% profit margins for investors.
The Madison Gas and Electric increases represented a $28.5 million decrease from the utility’s rate request.
The increase includes an estimated $19.2 million in electrical rate increases and $12.1 million in natural gas over the two-year span.
