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Alliant Energy Corporation, a subsidiary of Wisconsin Power and Light Co. (WP&L), will benefit from its parent company’s move to lower electricity rates by 2.5 percent in 2013, which it recently filed with the Wisconsin Public Service Commission (PSC).
According to the Milwaukee Journal Sentinel, WP&L proposed a $25 million drop that would lower Alliant’s customer’s energy prices by roughly $1.50 every month. The company also announced it may lock in these rates in 2013 and 2014. However, the frozen rate would not account for fluctuations in the price of the fuel that is burned in power generation plants.
Now, utilities are filing separate plans for power plant fuel costs due to new measures passed by the PSC. But with natural gas prices declining around the country, even these prices are expected to drop, the media outlet stated.
States with energy deregulation laws in place allow their energy customers to purchase electricity from retail energy providers, which often provide incentives and rewards to attract customers in a highly competitive market. Such states include Texas, Pennsylvania, New York, New Jersey and others.