LANSING – The Michigan Public Service Commission approved a more than $92 million increase in rates for electric customers of Consumers Energy Co., including significant emphasis on investments needed to improve reliability (Case No. U-21389).
The $92,009,000 increase is 57.4% lower than the $216 million rate increase the utility sought in its initial application. Consumers later reduced the request to $170.8 million.
A typical residential customer using 500 kilowatt hours per month will see an increase of $1.53, or 1.61%, on their monthly bill.
The company said it sought the increase to cover investments in generation and distribution assets, safety and legal compliance and enhanced technology as well as increased operations and maintenance expenses and increased financing costs.
