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Wisconsin regulators OK Madison utility refund

 
Wisconsin regulators OK Madison utility refund
Posted August 15th, 2014 @ 7:12am by Associated Press

 

MADISON, Wis. (AP) _ Wisconsin regulators are ordering a Madison utility to refund $6.7 million to customers even as the utility forecasts costlier electric bills next year.

The state Public Service Commission decided Thursday that Madison Gas and Electric Co. should return to customers now money that was over-collected last year. The utility had asked to keep the money to help offset higher costs it's facing in 2015. The commission denied the request.

 

The utility says it will spend more on pensions and fuel burned in power plants next year. It had previously projected a 2.6-percent cost jump in 2015. It changed the estimate to 3.7 percent on Thursday. That's a $15-million increase.

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