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Wisconsin Power and Light to freeze base rates for 2019, 2020

Wisconsin Power and Light Co. on May 24 filed an application with the Public Service Commission of Wisconsin to freeze its electric and natural gas base rates at 2017 levels for 2019 and 2020. The commission is expected to approve the proposal later this year. (PSC Docket No. 6680-UR-121)

The application was made in accordance with a settlement agreement between the Alliant Energy Corp. subsidiary, the Citizen Utility Board of Wisconsin and Wisconsin Industrial Energy Group. According to the application, Wisconsin Power and Light can freeze its base rates because of its efforts to lower operational and fuel costs, as well the expected tax savings from federal tax reform.

According to a May 24 company news release, the retail electric revenue requirement increase of $61 million in 2019 is offset by $23 million in fuel savings and $38 million in income tax savings. For 2020, the $132 million increase is offset by $20 million in fuel savings and $113 million in income tax savings.

The retail natural gas revenue requirements increases of $10 million in 2019 and $14 million in 2020 are offset by income tax savings.

Meanwhile, in a separate decision by the commission, customer rates for the remainder of 2018 are expected to decrease because Alliant Energy is refunding a total of $36 million to its electric customers and $4 million for its natural gas customers to reflect tax reform savings.