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For the first time in five years, Madison area residents could be paying higher electricity rates next year.

Madison Gas and Electric and Alliant Energy each filed applications this week asking regulators to approve electric and gas rate hikes for 2022.

MGE is requesting a 5.9% increase for its electricity revenue, which the company proposes to offset with excess collections that resulted from lower than expected fuel costs in 2020. If approved, that would add about $4.91 a month to the typical residential bill, according to MGE’s estimates.

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The company is also seeking annual increases of about 3% and 1.7% for natural gas rates in 2022 and 2023, which the company says would cost residential consumers an additional $17.75 next year and $8.30 in 2023.

MGE says the rate increase is needed to begin paying off new investments in renewable energy resources, including the company’s one third share of the $400 million Badger Hollow solar farm under construction in Iowa County.

Alliant Energy notified regulators Wednesday that it has agreed with consumer and environmental advocates on elements of a rate case that include a 6.2% increase to electricity revenues and an 8.4% increase in gas revenue.

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Alliant spokeswoman Cindy Tomlinson said the company has not calculated the average bill impact, though an outline of the plan calls for rates to remain flat in 2023, even as customers will begin paying off new solar farms.

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