We Energies customers will see 4.2% rate increase in 2013

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We Energies

WISCONSIN — We Energies customers will see an overall 4.2% electric rate increase in 2013 and a 2.6% increase in 2014 following action by the Public Service Commission of Wisconsin.

The PSC said Wednesday, November 29th it voted to cut the Milwaukee-based public utility`s original request for an overall 5.5% electric rate increase in 2013 and another 3.6% increase in 2014. The commission said its action reduced We Energies` overall electric rate request by 24%, or $60 million.

The commission said it trimmed the increase due to PSC decisions to reduce We Energies` proposed payroll expenses, disallow cost overruns on the new Oak Creek coal plant and decrease costs in other areas.

We Energies customers did not see an electric rate increase this year after the PSC approved the company`s plan to freeze rates in 2012.