Consumer advocates praise deal to refinance debt on shuttered coal plant in southeastern Wisconsin

Consumer advocates are cheering a decision by Wisconsin utility regulators to approve a novel refinancing plan for a retired coal plant that is expected to save millions of dollars for customers of the state’s largest utility.

The Public Service Commission voted unanimously Thursday to allow We Energies to issue bonds for $100 million of its investment in pollution controls at the Pleasant Prairie plant, which shut down in 2018.

The financing arrangement, known as securitization, is expected to save ratepayers about $40 million while allowing the utility to recover its investment...
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