Energy-services provider Alliant Energy (LNT) - Get Alliant Energy Corp Report said Friday that its subsidiary Wisconsin Power and Light Company received approval from the Public Service Commission of Wisconsin to decrease electric rates and refund customers about $36 million as a result of lower fuel costs.
Last year, the PSCW approved an interim rate increase for WP&L when fuel costs were at an unprecedented high. Fuel-related costs have since declined relative to the forecast that was used to establish interim rates, allowing the company to refund customers the amount that was overcollected, plus interest.
The settlement also allows the company to include previously deferred costs related to coal conservation efforts in the new rate.
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