WE ENERGIES 2024 RATE PROPOSAL BEING CONSIDERED

The Public Service Commission of Wisconsin is considering a limited rate filing for We Energies customers. The PSCW has been conducting a thorough review of the proposal and taking public input. They are expected to make a decision before the end of 2023. The limited rate filing is driven by new investments in electric and natural gas infrastructure that have already been approved by the PSCW and that go into service in 2023 and 2024.

The filing includes significant investments in renewable energy and savings from the planned retirement of coal-fueled units at the Oak Creek Power Plant. The new investments are part of a plan that is expected to save customers $2 billion over 20 years compared to the status quo.

Overall request

• $86.3 million (2.5%) for electric rates (including changes in fuel costs).
• $22.2 million (2.9%) increase for Wisconsin Gas LLC natural gas rates.
• $23.9 million (4.5%) increase for Wisconsin Electric Gas Operations natural gas rates.

For the typical We Energies residential electric customer, the proposed increase is expected to be less than $4 per month. The typical natural gas customer will see an increase of $2 to $3 per month in base rates; however, heating bills this winter are expected to be lower than last year due to declining natural gas prices.