Public Opposition to Rate Hikes by Utilities in Wisconsin

Strategic Insights -

Residents of Wisconsin have been vocal about their opposition to rate hikes by utilities, with many citing concerns about affordability and fairness. A recent public comment filed with the Public Service Commission of Wisconsin highlights the growing discontent among citizens, particularly with Xcel Energy. The commenter, Terry Valentine, expresses frustration with the utility company's practice of increasing rates while reporting significant profits.

Key Takeaways:

  • The Public Service Commission of Wisconsin has accepted written comments in lieu of testimony at a public hearing in the matter of Northern States Power Company-Wisconsin's application to adjust electric and natural gas rates.
  • The comment period was open from June 1, 2015, to October 29, 2015.
  • Terry Valentine, a resident of La Crosse, Wisconsin, submitted a comment opposing rate hikes by utilities, specifically Xcel Energy.
  • Valentine argues that Xcel Energy's profits have increased significantly, citing a quote from the company's 2014 financial earning report, which showed operating earnings of 39 cents per share in the fourth quarter.
  • The commenter suggests that Xcel Energy should focus on improving operations and productivity rather than relying on rate hikes to generate profits.
  • The comment highlights the growing concern among Wisconsin residents about affordable and fair energy rates.

Statistics:

  • The comment period for Northern States Power Company-Wisconsin's application to adjust electric and natural gas rates was open from June 1, 2015, to October 29, 2015.
  • Xcel Energy reported operating earnings of 39 cents per share in the fourth quarter of 2014, outpacing the Zacks Consensus Estimate of 34 cents by 14.7%.
  • Quarterly earnings increased 30% from the year-ago figure on the heels of increased electric rates.
  • Earnings for 2014 were reported at $2.03 per share, ahead of the Zacks Consensus Estimate of $1.99.

Sources:

  • Public Service Commission of Wisconsin (PSC)
  • Comments filed electronically in 4220-UR-121 Application of Northern States Power Company-Wisconsin for Authority to Adjust Electric and Natural Gas Rates
  • Xcel Energy Inc. (XEL - Analyst Report)