The Public Service Commission of Wisconsin (PSCW) received notice of an impending settlement agreement between Alliant Energy and various Wisconsin stakeholders this week that will result in the tying of rate increases to customer cost savings and nearly 1,100 MW of new solar generation.
“We appreciate the constructive discussions with our stakeholders as we focus on following the path outlined in our Clean Energy Blueprint,” David de Leon, president of Alliant Energy’s Wisconsin energy company, said. “Guided by our purpose-driven strategy, we look forward to continuing these conversations and doing what’s right for our customers while helping to build stronger communities.”
Covering electric and natural gas rates in 2022 and 2023, the settlement directly ties into Alliant’s energy transition plans for the near future. As a result, electric base rates will be held flat in 2023. Still, the company predicts an overall increase in revenue requirements of $70 million for its electric utility and $15 million for its gas utility, while Alliant rolls out a financial equity layer of 52.5 percent and seeks to maintain its 10 percent authorized return on equity.
While this agreement has yet to be finalized, and both rate design and cost allocation issues remain under discussion, the Edgewater 5 coal facility seems set to be a major focus as well. As it stands, the agreement would provide for the levelized recovery of all of the remaining net book value balance of the plant once it retires next year. A PSCW review will follow any official submission.
Stakeholders in the case include the Citizens Utility Board, Wisconsin Industrial Energy Group, and the Sierra Club.
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