The Public Service Commission of Wisconsin approved a total rate increase of $19.3 million for Northern States Power Co. - WI's electric and natural gas utilities, effective Jan. 1, 2018.
The approved rate hike is lower than the requested rate increase of $36.7 million originally sought by the Xcel Energy Inc. subsidiary.
Under the approved rate filing, electric rates would increase by approximately $9.4 million, or 1.4%, and natural gas rates would increase by $9.9 million, or 8.3%, according to a Dec. 22 Form 8-K filing.
The rate hike is based on a 9.8% return on equity and an equity ratio of 51.45%.
The company said the increase would help to support its investments in electric generation, transmission and electric and gas distribution facilities.