The Michigan Public Service Commission (MPSC) today approved a settlement agreement authorizing Indiana Michigan Power Company's 2009 power supply costs.

The approved settlement authorizing the utility to implement a power supply cost recovery (PSCR) factor of up to 6.62 mills per kilowatt-hour (kWh) in its St. Joseph rate area and a PSCR factor of up to 7.38 mills per kWh in its Three Rivers rate area for 2009.

In addition, the factors include roll-in adjustments for the company's estimated 2008 PSCR over-recovery of $8,430,734 and under-recovery of $823,729 for the respective St. Joseph and Three Rivers rate areas.

Indiana Michigan Power Company and the MPSC staff participated in the settlement proceedings.

Case No. U-15676