September 26, 2006

The Michigan Public Service Commission (MPSC) today approved a settlement agreement that reconciles the 2005 power supply costs of Upper Peninsula Power Company (UPPCo).

Under the agreement, UPPCo will implement a surcharge of $0.01154 per kilowatt-hour (KWh) on bills for its Integrated System customers for the billing month of October to collect the $628,012 under-recovery. The utility will implement a credit of $0.02297 per kWh on the bills for its Iron River System customers for the billing month of October to refund the $80,565 over-collection.

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

Case No. U-14262-R