We Energies to raise rates

MILWAUKEE, WISCONSIN - WisconsinÂ’s biggest electric utility will have some big rate increases when the New Year begins.

We Energies says industrial and large business customers can expect to pay 13-percent more. Most other businesses face an 8-to-10-percent rate hike. And residents will pay just under five-percent more. We EnergiesÂ’ customers in eastern Wisconsin have been getting credits on their bills for the last three years, after the utility sold its share of the Point Beach Nuclear Power Plant near Two Rivers. But those credits expire on January 1, 2011.

Todd Stuart of the Wisconsin Industrial Energy Group said his members knew it was coming, but it still hurts. He said one large company faces a 20-percent increase in its electric costs. We Energies has contacted 20-thousand business customers to warn them about the impending increase. It will also be explained to everyone in their next bills.

The utility shared 700-million-dollars in proceeds from the Point Beach plant sale. It netted We Energies just over a billion dollars. Brian Manthey of We Energies says companies should analyze their bills to make sure theyÂ’re in the correct rate class. He said the recession might have dropped some of them down a notch. Also, Wisconsin Focus-on-Energy says itÂ’s been getting more inquiries from companies looking to become more energy-efficient.