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Two of Wisconsin's Largest Utility Companies Asking for Rate Increases

Wednesday, April 17th, 2024 -- 1:01 PM

(Joe Schulz, Wisconsin Public Radio) Two of Wisconsin’s largest utility companies are asking for about $800 million in rate increases over the next two years.

According to Joe Schulz with Wisconsin Public Radio, last Friday, We Energies and Wisconsin Public Service, both owned by WEC Energy Group, filed applications with the Public Service Commission of Wisconsin to increase electric and gas rates in 2025 and 2026.

The requests come after We Energies has increased electric rates each year since 2019, following four years when rates fell slightly. A document from the utility says We Energies’ electric rates went up by 9.2 percent in 2023 and 2.3 percent this year.

Consumer advocates are calling on the Public Service Commission to limit the size of the increases and prioritize affordability. We Energies hopes to increase electric rates by 6.9 percent in 2025 and 4.6 percent in 2026, according to the utility’s application with the PSC.

It also requested increases for both of the gas utilities it owns. One of the gas utilities would increase rates by 10 percent next year and 5.1 percent by 2026. The other asked to increase rates by 8.2 percent in 2025 and 3.6 percent in 2026.

We Energies’ steam utility in downtown Milwaukee also asked for an 8.4 percent rate hike in 2025, but no increase in 2026. Meanwhile, Wisconsin Public Service is requesting an 8.5 percent electric rate increase in 2025 and a 4.9 percent increase in 2026, according to the utility’s application.

WPS also requested gas rate increases of 6.8 percent next year and 3.9 percent in 2026. If approved, a typical residential We Energies customer’s electric bills could rise between $10 and $11 per month in 2025 and between $7 and $8 in 2026, the utility estimates.

A typical residential WPS customer’s electric bill could rise by between $10 and $12 a month next year and between $5 and $6 the following year.

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