The Michigan Public Service Commission (MPSC) today approved a settlement agreement authorizing Indiana Michigan Power Company to reconcile its 2007 power supply costs.

The approved agreement found that the utility over-recovered a net amount of $4,588,038 in its St. Joseph rate area and a net amount of $1,472,082 for its Three Rivers rate area.  The company rolled those respective amounts into its 2008 PSCR plans for those rate areas, lowering what customers paid by those amounts.

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

Case No. U-15004-R