Alliant Energy announces rate freeze and credits for customers
MADISON, Wis. (CBS 58) – Wisconsin customers of Alliant Energy will see no increase to base electric and natural gas rates through 2020 under a proposal filed Thursday with the Public Service Commission of Wisconsin. A second decision from the commission also means that customer rates will drop for the remainder of 2018 due to bill credits.
“The rate freeze is a win for customers,” said John Larsen, president of Alliant Energy Corporation. “We’ve worked hard to hold the line on costs through 2020. It’s important to us to deliver cleaner power to families and businesses while keeping rates down.”
The reason for the rate freeze is a result of lower operational and fuel cost along with expected tax savings from the federal tax bill.
Also as a result of the tax bill, the commision has specified a formula for crediting customer's bills. The result is $36 million credit for electric customers and $4 million for natural gas customers in 2018.
Alliant Energy Customers will receive a credit of $22.92 for electric customers and $6.99 for natural gas customers during the June bill cycle.