We Energies plans to hike electric rates 4.5 percent and more in next two years

Talk about it

You might want to put a little more aside for your electric bills, if you can.

We Energies, the state’s largest utility, expects total rate increases of 4.9 percent next year and 4.5 percent in 2011.

Chairman Gale Klappa says the utility needs to start up the power plants it’s now building, so it can stop buying more expensive electricity from elsewhere.

Also, customer credits from the 2007 of the Point Beach Nuclear Power Plant are about to end.

The state Public Service Commission will hold hearings on the rate hike requests this fall.

They’re expected to take effect next January.

We Energies says the average residential customer could pay $45 more next year, and $43 more in 2011.

Charlie Higley of the Citizens’ Utility Board says any increase is harmful in a recession.

Todd Stuart of a Wisconsin manufacturers’ group says the state’s electric rates are already the highest in the Midwest.

We Energies’ rates have risen three times the rate of inflation since 2004.

But Klappa says it’s unfair to compare Wisconsin with others because some states have electric competition while others don’t.

And besides, Klappa says neighboring states plan to raise their rates and when they do, everybody will be about equal again.

Tags: wisconsin, news, we, energies, rate, hikes