The Illinois Commerce Commission (ICC) approved new electric rates for Mt. Carmel Public Utility Company this week, the company’s first electric rate increase since 2008. The new rates are expected to generate approximately $1,901,561 in additional annual revenue.
Mt. Carmel Public Utility provides service to 5,400 electricity and 3,500 natural gas customers in Wabash County.
The Commission set the return on equity for the electric side of the business at 10.03 percent and the overall rate of return at 6.91 percent.There were no changes to the company’s return on equity and overall rate of return on the gas side of the business.
The new rates will take effect later this month after the company files with the Commission and ICC staff reviews them to ensure compliance. For more information click here to read the order.