Contact: Steven B Schultz
Corporate Communications Manager
Madison Gas and Electric Co.
608-252-7219
Email Address: SBSchultz@mge.com
Madison, Wis., April 17, 2014—Madison Gas and Electric (MGE) today filed an
application with the Public Service Commission of Wisconsin (PSCW) to
decrease natural gas rates in 2015 and increase electric rates in 2015.
Electric and natural gas rates would then be frozen in 2016.
The request decreases natural gas rates 2.3% in 2015 and would freeze rates
at that level for 2016. If approved, the typical residential gas bill would
go down $1.42 a month. The request would increase overall electric rates by
2.8% and would freeze rates at that level for 2016, subject to a review of
fuel costs. If approved, the typical residential electric bill would
increase by $2.53 a month.
The average combined residential gas and electric customer would see a
total bill increase of $1.11 a month. The proposed changes would take
effect Jan. 1, 2015.
MGE continues to make significant improvements to reduce emissions and
improve generation efficiency while maintaining its cost containment
program to control day-to-day operational costs.
The primary reasons for the electric rate request are:
* Costs associated with the construction of emission-reduction equipment at
the Columbia Energy Center near Portage, Wis., and
* Costs associated with improvements to the state’s electric transmission
system.
With this proposed rate decrease, MGE’s annual average natural gas rates
will remain virtually unchanged since 2009. Over that same time, the
average annual increase in electric rates has been 1.8%, while the Consumer
Price Index has gone up an average of 2.1% per year.
About MGE
MGE generates and distributes electricity to 141,000 customers in Dane
County, Wis., and purchases and distributes natural gas to 147,000
customers in seven south-central and western Wisconsin counties. MGE’s
parent company is MGE Energy, Inc. (Nasdaq: MGEE). The company’s roots in
the Madison area date back more than 150 years.
