Utility customers owed repayments due to low energy prices

MADISON, Wis. (AP) – Refunds are in-store for customers of the four largest for-profit utility companies in Wisconsin.

Taxpayers are owed more than $ 25 million because of low energy prices in 2018. The Public Service Commission sets rates one to two years in advance based on fixed expenses and an estimated fuel cost. And, when the projections exceed 2% of the real costs, the utilities must refund the difference, with interest.

According to the State Journal, Madison Gas & Electric's customers are expected to receive the largest rebate of about $ 20 for most households. The utility collected about $ 9.5 million more than its actual costs. Steve Schultz, spokesman for the utility, said the savings resulted from lower gasoline prices and the acquisition of part of Forward Energy's wind farm.

The other utilities are Alliant, WPS and Xcel.