Regulators Scale Back Rate Hikes for We Energies, Wisconsin Public Service

The We Energies office Monday Feb. 16, 2026, in Milwaukee, Wis. Angela Major/WPR State regulators approved electric rate increases for two of the state’s biggest utility companies on Thursday, but the size of the rate hikes came in lower than the utilities requested. We Energies and Wisconsin Public Service, both owned by the same parent company, filed applications in April with the state Public Service Commission, asking to increase electric rates in 2027 and 2028. We Energies had asked for a 4.6 percent increase to base electric rates in 2027 and another 4.5 percent increase in 2028. The PSC reduced the size of the hike to 3.9 percent in 2027 and 3.5 percent in 2028. Had regulators approved We Energies’ full request, consumer advocates say it would’ve translated into a 16 percent increase for residential customers over two years. For We Energies’ sister company, Wisconsin Public Service, regulators approved a 0.3 percent electric rate increase in 2027 and a 2.9 percent increase 2028.