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Northern States Power seeks approval for Wis. rate case settlement

Northern States Power Co. - Wisconsin is asking the Public Service Commission of Wisconsin to approve a rate case settlement between the Xcel Energy Inc. subsidiary and several other intervenors.

Under the settlement, there would be no change in electric utility base rates through Dec. 31, 2021. Meanwhile, natural gas utility base rates would decrease by 4.6% or $3.2 million, starting Jan. 1, 2020, with no additional changes to base rates through Dec. 31, 2021.

Under the agreement, Northern States Power is allowed an ROE of 10% and an equity ratio of 52.5%.

The company may also apply existing tax reform customer bill credits of $24.7 million to offset the revenue requirement related to new wind capital investment, as well as utilize tax reform benefits of $22.3 million to offset a portion of the unamortized balance at the manufactured gas plant site in Ashland, Wis.

The commission is expected to announce its decision in the third quarter of 2019.