We Energies seeks 14% residential electric rate hike by 2028 - 6th increase since 2020

We Energies has submitted a proposal to Wisconsin state regulators on April 1, seeking a substantial electric rate hike for its residential and business customers. The utility attributes these increases, which would add approximately $13 to monthly residential electric bills in 2027 and another $8-$9 in 2028, to significant investments in new power generation primarily aimed at serving hyperscale data centers, alongside its clean energy transition goals. This marks the sixth rate increase for We Energies customers since 2020. Brendan Conway, a We Energies spokesperson, stated that despite the increases, bills and rates would remain below the national average and in line with the Midwest. However, Tom Content, executive director of Wisconsin's Citizens Utility Board (CUB), criticized the proposal, emphasizing widespread affordability concerns among Wisconsin voters and noting that customer bills have risen much faster than inflation over the past four years. CUB intends to weigh in on the case, advocating for lower profit margins for the utility's shareholders. We Energies is spending $6 billion over the next few decades on projects including 11 solar fields, two wind farms, and two natural gas plants. To mitigate the impact on non-data center customers, the utility has requested the Public Service Commission (PSC) approve a separate electric rate for data centers, projecting that these facilities could contribute nearly $1.9 billion in revenue through 2028, covering over 80% of the associated new energy project costs. Despite this, consumer advocates and some regulatory analysts express skepticism that the separate rate will fully protect non-data center customers from cost shifting. The PSC is expected to rule on the plan by May 1 for certain aspects and by the end of 2026 for the overall proposal.