A bill that could change the way new power plants are financed in Wisconsin – and save money for customers paying for those plants – could be voted on as soon as today by the state Senate. The bill, sponsored by Sen. Robert Cowles (R-Green Bay), would guarantee utilities a set rate of return every year for 30 years, instead of the traditional rate-setting approach used by the state Public Service Commission. To some, the new approach represents an indictment of the leased-generation concept employed for Wisconsin Energy’s new power plants and for the Madison Gas & Electric Co. plant being built on the University of Wisconsin-Madison campus.
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