Assembly Passes AB 472 Despite Concerns It Shifts Financial Risk onto Ratepayers

The State Assembly passed Assembly Bill (AB) 472 despite concerns raised by consumer protection and free market groups that the bill would use the state’s nuclear power momentum to give utility companies a handout while shifting the financial risk onto ratepayers. Prior to the vote, Representative Shae Sortwell accused Americans for Prosperity-Wisconsin (AFP-WI) of being dishonest over its opposition to the bill.

AFP-WI Legislative Director Jerry Ponio responded: 

“Americans for Prosperity-Wisconsin opposes Assembly Bill 472 because it shifts financial risk from investor-owned utilities onto Wisconsin ratepayers. Period. 

“Any attempts to mischaracterize our opposition as anything other than that are inaccurate. 

“We appreciated the opportunity to meet and discuss our concerns with shifting the financial risk onto ratepayers with the Assembly Bill author. The fact is this bill still shifts the financial risk off of utility companies and on to ratepayers.  

“Charging ratepayers upfront and guaranteeing a rate of return before any energy is produced is a model that utilities are looking to implement across the country. But our organization is under no obligation to protect or advocate for the interests of investor-owned utilities; our organization will continue to advocate for all Wisconsin ratepayers. We believe that effort is more crucial now as families and businesses have seen energy rates in Wisconsin increase over $2 billion since 2019. 

“Americans for Prosperity-Wisconsin is pro-nuclear and believes Wisconsin can be a leader without the ratepayers shouldering the burden.” 

The coalition letter’s full text can be found here.