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Xcel Energy agrees to two-year electricity rate freeze for Wisconsin; natural gas rates to drop

Chris HubbuchMay 25, 2019

Xcel Energy customers will likely see some savings in the next two years thanks largely to federal tax changes.

Xcel, which serves about 250,000 customers in western Wisconsin, filed a proposal Thursday with the Public Service Commission that would keep electricity rates flat through 2021 and lower natural gas revenue by 4.6 percent next year.

The proposal, reached through negotiation with consumer advocates, allows Xcel to continue earning a 10 percent profit on its investments and to retain fuel savings from some 1,450-megawatts of new wind farms.

Xcel will use almost $39 million in savings from the 2017 Tax Cuts and Jobs Act to offset costs on the electrical side and $22.3 million for ongoing natural gas-related expenses.

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