NUMB:
971178
VERS:
SUBSTITUTE 1
REF:
XXBY:
ALD. HENNINGSEN
TITL:
Substitute resolution opposing application of Wisconsin Electric Power Company to increase rates for electric, natural gas and steam services.
ANLS:
- Analysis -
This substitute resolution opposes the application of the Wisconsin Electric Power Company before the Public Service Commission of Wisconsin to increase rates for electric, natural gas and steam services, effective January 1, 1998.
BODY:
Whereas, The Wisconsin Electric Power Company is seeking an increase of 15.3% in electric prices, 9.1% in steam prices and 7.9% in natural gas prices; and
Whereas, This proposed increase would be the utility's largest increase since 1981; and
Whereas, The City of Milwaukee is a major user of energy and these increases would dramatically affect the 1998 City of Milwaukee budget; and
Whereas, Shareholders of the parent company, Wisconsin Energy Corporation, would receive an increase in the authorized return on equity from the current 11.8% to 12.5%; and
Whereas, The City of Milwaukee voluntarily reduced its energy consumption this summer when the Wisconsin Electric Power Company was unable to meet the demand for energy and was facing a potential blackout situation; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City of Milwaukee opposes the application of the Wisconsin Electric Power Company to increase rates for electric, natural gas or steam services, effective January 1, 1998.
ZDPT:
DFTR:
LRB97596.2
lme
12/4/97