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PSC orders Madison Gas and Electric to refund $6.7M in overpayments

MADISON, WI (WTAQ) - Madison Gas and Electric has been ordered to refund $6.7 million that was overcharged to customers last year.

The state Public Service Commission voted Thursday to make the utility give the money back now.

Madison Gas and Electric asked for permission to keep the overpayments, and apply them to higher costs the utility is expecting next year. The regulators said no to that.

As a result, the company says it will pay 3.7 percent more for its operations and employee pensions next year, instead of its earlier projection of 2.6 percent.

(Story courtesy of Wheeler News Service)