Wisconsin residential customers of two utilities are on the hook for at least $304.5 million in higher rates on their electric and natural gas bills over the next two years.
That’s $86.1 million less than what Alliant Energy and Xcel Energy sought for 2026 and 2027, according to preliminary figures the Public Service Commission shared with WisPolitics-State Affairs.
When the full increase kicks in starting on January 1, 2027, the average residential Xcel customer will pay $24.91 more for electricity a month than they do now and an additional $8.70 for natural gas. The typical Alliant customer, meanwhile, will pay an additional $17.45 a month for electricity starting in 2027 compared to now and $1.80 extra for gas.
Alliant Energy serves about 1 million electric customers and 430,000 gas customers in Iowa and Wisconsin, while Xcel Energy as of last year served 250,000 electric and 114,000 gas customers in northwestern Wisconsin and Michigan’s Upper Peninsula.
Under state law, the PSC is required to approve rate increases that cover utilities’ reasonable costs and the opportunity to turn a profit.