MPSC Authorizes Wisconsin Electric Power Company to Increase Its Electric Rates by $23.5 Million, 45 Percent Below What the Company RequestedContact: Judy Palnau (517) 241-3323
July 1, 2010
The Michigan Public Service Commission (MPSC) today authorized Wisconsin Electric Power Company to increase its electric rates by $23,464,513 annually, 45 percent below what the company requested.
The company on Feb. 2 self implemented a rate increase. As a result of today's order, a residential customer using 500 kilowatt hours per month will see an increase of $6.14 on their monthly bill (over the self-implemented amount).
Wisconsin Electric Power Company on July 2, 2009 filed an application requesting a $42.1 million rate increase. The final amount approved today ($23.5 million) is 45 percent below what the utility requested and represents an increase of 14.2 percent over the rates set in its previous electric rate case (Case No. U-15500).
A fact sheet with details follows.
The MPSC is an agency within the Department of Energy, Labor & Economic Growth.
Wisconsin Electric Power Company
Case No. U-15981
Commission Order Fact Sheet
- Commission Order Date: July 1, 2010
- Revenue Increase Granted: $23,464,573 (The last rate increase was in Case No. U-15500 in 2008, which was a settlement agreement between parties).
- Rate of Return on Common Equity: 10.25%
- Debt to Equity Ratio: 42.63% debt-57.37% common equity
- Overall Rate of Return: 6.99%
- Wisconsin Electric Power Company has been directed to file a report on revenues associated with its self-implemented rates on and after Feb. 2, 2010 until July 1, 2010.