MADISON, Wis. - State regulators have reached a rate-freeze settlement with Wisconsin Public Service Corporation.
The deal calls for the northeastern Wisconsin utility to freeze retail electric rates at 2012 levels through next year and decrease 2013 natural gas distribution rates.
The utility asked the state Public Service Commission in March for permission to raise electric rates by $85 million and natural gas rates by $12 million in 2013.
The commission conducted an audit on the request and recommended a $20 million increase for electric rates and a $4 million decrease on natural gas rates. PSC officials said the utility decided the electric increase could be offset by a projected $20 million over-collection of fuel costs the utility would have refunded next year.
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