WE Energies Rate Increase Effective January 1, 2011
According to an article by Thomas Content on JSOnline, rates for WE Energies residential and business customers went up January 1st.
The average residential customer will experience an increase of $5.50 a month, which is an increase of about 4.7% on a typical utility bill. That’s an average increase of $66 a year! The reason for the increase is WE Energies has finished paying out credits to customers from the sale of the Point Beach Nuclear power plant.
But wait, there’s more bad news.
The average business customer of WE Energies is going to see their rates go up 8 – 13%, and Content mentions that one energy intensive business will see their rates go up 20%. What will these Milwaukee area businesses do? Pass the increases along to customers by raising their prices? Reduce salary increases, bonuses, and profit sharing? Layoffs? Not hire new employees?
Sorry, it gets worse.
More rate increases are on the horizon. The Public Service Commission will be meeting on January 6th to discuss a rate increase proposal for 2011. Content also reports that it is expected WE Energies will file paperwork in March to request another rate increase for 2012.
What is your reaction to this news? Do you plan to take action to offset the rate increases? Please share your thoughts by leaving a comment.
Throughout 2011 we’ll be sharing strategies to help you reduce your utility bill. In the meantime, here are a few helpful posts we’ve written in the past:
- How to Get a $50 Credit on Your WE Energies Bill
- Save Money on Your WE Energies Bill with a Time of Use Program
- WE Energies Budget Billing
- How to Seal Air Leaks in Your Home
- Home Assessment Tool from Focus on Energy
- Have You Changed Your Furnace Air Filter Recently?