South Beloit Water, Gas and Electric Co. files water rate increase in anticipation of sale

South Beloit Water, Gas and Electric Co. filed a rider Friday with the Illinois Commerce Commission for a future increase in water rates.

MADISON, Wis., Aug. 29, 2003 -- South Beloit Water, Gas and Electric Co. (SBWG&E) filed a rider Friday with the Illinois Commerce Commission (ICC) for approval to change its rate structure for purchased water costs.

The rider was filed in anticipation of the sale of the company's water facilities located in the city of Beloit, Wis., later this year.

The filing will have no immediate impact on South Beloit water rates. If approved by the ICC and following the change in ownership, the rider may increase purchased water rates by approximately $200,000 (44.5 percent) effective Jan. 1, 2004.

"This is another step in carrying out our decision to exit the water business, and focus on our commitment to invest in electric and natural gas infrastructure," says Kim Zuhlke, vice president of engineering, sales and marketing. "Since announcing the sale of the water business last year, we've been working closely with all the communities involved. We remain committed to continuing our energy partnership with them and to ensuring a smooth transition of ownership."

Typical residential water customers using 5,000 gallons of water per month may see a monthly increase of approximately $3.88 on their bills. The actual amount of the change will vary depending on usage and the ICC's final decision in the request.

The company has requested that the ICC approve the rider within 45 days.

Alliant Energy is an energy-services provider that serves more than three million customers worldwide. Providing its regulated customers in the Midwest with electricity and natural gas service remains the company's primary focus. Other key business platforms include the international energy market and non-regulated domestic generation. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company's Web site at .

More in Industrial