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REVISED: MPSC Approves Settlement Agreement Reconciling Presque Isle Electric & Gas Co-op's 2009 Power Supply Costs, and Granting a $904,141 Rate IncreaseContact:
Judy Palnau (517) 241-3323
September 14, 2010
The Michigan Public Service Commission (MPSC) today approved a settlement agreement reconciling Presque Isle Electric & Gas Co-op's 2009 power supply cost recovery expenses and revenues and adjusting its times earned ratio ratemaking (TIER) mechanism.
The settlement found the utility under-recovered $80,847 in PSCR costs. In the event current PSCR billings do not collect the remaining under-collection, any remaining under-collection will be rolled into the utility's 2011 PSCR plan case to be filed by September 30.
The utility also reported an adjusted TIER of 1.29, requiring a $904,141 revenue increase, or approximately 3.10 percent. As a result of the adjusted TIER, a residential customer using 500 kilowatt-hours a month will see a monthly bill increase of $2.26, effective for service rendered with the next full cycle of billings.
The MPSC is an agency within the Department of Energy, Labor & Economic Growth.
Case No. U-15672-R