Madison Gas & Electric Co. will be able to tack a few more cents onto its electric customers’ bills in 2018 to help pay for the higher cost of fuel to run its power plants.
State regulators last week voted 3-0 to approve MGE’s request for a 0.13 percent increase. That will provide the Madison utility company with another $529,000 a year and will add about 9 cents to the bill of a typical residential electric customer who uses 510 kilowatt-hours a month, raising electricity costs to about $87.67 a month, MGE spokesman Steve Schultz said.
The increase is a lot smaller than MGE originally had requested.
In August, the company asked for a 0.74 percent increase, which would have raised the average residential electric bill by 49 cents a month.
Schultz said MGE decreased its request in October when it became clear that natural gas prices were lower than earlier anticipated.