The Michigan Public Service Commission (MPSC) today approved a settlement agreement reconciling Upper Peninsula Power Company's 2008 power supply costs.

The settlement found the utility had a net under-recovery of $831,730, which it will roll into its 2009 power supply cost recovery (PSCR) reconciliation.

The utility, the MPSC staff, Michigan Technological University, Smurfit-Stone Container Corporation, and Calumet Electronics Corporation participated in the settlement proceedings.

The MPSC is an agency within the Department of Energy, Labor & Economic Growth.

Case No. U-15401-R