Xcel Customers to See Refund Credits After 2016 Over ChargesWisconsin Ag Connection - July 17, 2017
One of Wisconsin's largest utility companies has been ordered to give back $9.4 million in revenues it collected last year because various over charges. Xcel Energy said it will issue a one-time bill credit later this year after being told by the Public Service
Commission on Thursday that it had to refund the money back.
According to the La Crosse Tribune, Xcel said the over collection resulted primarily because demand did not meet projections that failed to predict the slump in frac sand mining and declining residential electricity use. Natural gas prices were also six percent below forecast.
The exact amount of the credit has yet to be determined. But the newspaper reported that it would be about 1.446 cents per kilowatt hour for residential customers based on the customer's usage in the month of the refund. That works out to roughly $11.
Meanwhile, Xcel had proposed to spread the 2016 refund over 12 months to mitigate the impact of its proposed 2018 rate increase, but the three-member PSC has generally favored issuing one-time refunds as soon as possible, arguing it is more transparent.
Xcel serves about 257,000 electricity and 112,000 natural gas customers in Wisconsin.