October 24, 2006

The Michigan Public Service Commission (MPSC) today approved a settlement agreement that reconciles the 2005 power supply costs of We Energies.

Under the agreement, a total net under-recovery of $1,860,041 will be collected from the utility's Michigan retail electric customers by implementing a surcharge of $0.01529 per kilowatt-hour in its November and December 2006 billings.

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

Case No. U-14264-R