DTE Electric (NYSE: DTE) has filed an amended renewable energy plan with the Michigan Public Service Commission (PSC) to reduce the monthly surcharge paid by residential customers to zero.
If approved by the PSC, the 43-cent monthly surcharge would come off bills in January and reduce electric rates by $15 million annually. DTE Energy began collecting the surcharge in 2009 to cover the costs associated with meeting the state's renewable energy goals established in 2008. The surcharge was reduced to 43 cents from $3 last year.
DTE Electric says it will meet the state-mandating Renewable Portfolio Standard, which requires electric utilities to supply 10 percent of their electricity from renewable energy sources by 2015.
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