COLDWATER, MI (WTVB) – Even though Coldwater Board of Public Utilities customers will see an electric rate increase of around 3% in September, Consumers Energy customers are facing a rate increase almost three times as large.
Consumers is asking for a $225 million annual electric rate increase, but Michigan’s attorney general says the company actually should reduce its rates.
Consumers has asked the Michigan Public Service Commission to increase electric rates by 8.8% for residential customers. The agency can approve, reduce or deny the rate increase with input from the Michigan Attorney General’s Office on behalf of rate-payers.
Michigan Attorney General Dana Nessel said the increase is unnecessary, because Consumers Energy actually will take in about $30.7 million in excess revenue based on current rates.
At the same time, Consumers Energy launched a new Summer Peak Rate June 1, which hikes electric usage rates by 50% from 2:00 p.m. to 7:00 p.m. weekdays through September 30. The $225 million increase request is separate.
There has been no announced timetable for when the Michigan Public Service Commission will decide on the rate increase.
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