Wisconsin Power and Light Co. (WP&L), a subsidiary of Alliant Energy Corp., will issue the first in a two-part credit to natural gas customers in January or February. The first credit totals approximately $10.2 million. After an audit by the Public Service Commission of Wisconsin (PSC), the total credit amount is expected to be approximately $12.8 million.
The credit represents gas purchase savings from November 2005 through October 2006 and is the result of a gas purchase plan WP&L developed to share cost savings with customers. Customers get billed at market prices and to the extent WP&L is able to purchase gas for less than these market prices, the difference is shared between the company and its customers. This credit represents 80% of the customers' share of those below-market purchases.
The natural gas purchase credit is based on customer usage over the individual credit audit period. Customers will see the first of the two-part credit on either their January or February bill. The credit is expected to be about $43.21 for the typical residential customer using approximately 800 therms per year.
"In addition to this credit, our natural gas customers received an average credit of $50 last year," said WP&L President Barbara J. Swan. "We are pleased to share the savings from our prudent fuel purchasing decisions with our customers to help offset the costs of winter heating."
Madison-based Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and more than 400,000 gas customers. WP&L serves 453,000 electric and 179,000 gas customers.
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