MGE gets approval to hike rates

Businesses may see a reduction in their utility bills, while residents will likely pay higher rates after the state Public Service Commission granted Madison Gas & Electric approval for a rate increase.

The average residential household will pay about 12 cents more per month, while some commercial and industrial customers could see a reduction of up to 2.35%. Overall it results in a 0.79% rate cut, or a $3.3 million reduction in electric revenues.

Natural gas rates will rise 1.9% for residential MG&E customers, adding about $1.32 to the average residential monthly bill.

The local utility had requested a 2.56% hike in electric rates and a 3.7% increase in natural gas rates, according to the Wisconsin State Journal.