Regulators approve Consumers Energy electric rate increase

By The Associated Press

Michigan regulators have authorized Consumers Energy to raise its electricity rates effective next week.

 

LANSING, Mich. (AP) — Michigan regulators have authorized Consumers Energy to raise its electricity rates effective next week.

The rates approved Tuesday are less than what the utility "self-implemented" in September, so customers will see a refund plus interest. But the rates are 2.8 percent, or $113 million, more than those set in Consumers Energy's last rate case in November 2015.

The utility had sought a rate increase of $225 million and had self-implemented a $170 million hike.

The state Public Service Commission says it approved $40 million to be spent deploying innovative grid technology and nearly $25 million for unpaid bills.

Regulators denied the utility's request to increase the cost for customers to opt out of using "smart" meters that some think pose health and privacy risks.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs