Michigan regulators to decide fate of energy contract

By The Associated Press

The Michigan Public Service Commission is deciding whether ending a nuclear power purchase contract would be a cost-saving decision for energy customers.

 

LAWRENCE, Mich. (AP) — The Michigan Public Service Commission is deciding whether ending a nuclear power purchase contract would be a cost-saving decision for energy customers.

The commission held back-to-back public meetings Monday in Lawrence, Michigan, to focus on Consumers Energy's plan to terminate a 15-year contract with Entergy that began in 2007 after the latter company announced plans to shut down its Palisades Nuclear Power Plant in 2018.

The original agreement let Consumers purchase nearly all of the power Palisades generates through 2022.

Consumers has proposed to recover a $172 million buy-out payment through customers utility rates. A financing order application shows Consumers alleging its customers would save between $54 million and $1.1 billion by ending the contract early, despite the utility charges.

The commission will decide on Consumers' proposal by August.

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