Our customers will see their electric bills rise Jan. 1 as credits for the sale of Point Beach Nuclear Plant come to an end.Since 2008, we have refunded more than $800 million to customers from the sale of the plant to NextEra Energy Resources, a subsidiary of FPL Group Inc. of Juno Beach, Fla.
Bills for our largest customers -- factories and other large businesses -- will rise about 13 percent on average. These customers, who received the most credits because of their greater energy use, will see the greatest change in their bills. Other business customers can expect electric bills to rise 8 to 10 percent while residential customers can expect an increase of less than 5 percent.
For business customers in particular, the credits have helped offset increases on their bills tied to higher fuel costs and power plant construction.
To help customers prepare for the Point Beach credit adjustments, we have communicated the coming credit expiration via messages on bill inserts over the past two years. In recent months, we have communicated directly with large commercial, industrial and municipal customers to help them prepare and budget their energy costs.