The Michigan Public Service Commission (MPSC) today approved a settlement agreement that increases Wisconsin Electric Power Company's rates for the sale of electricity in the state of Michigan by $7,249,185 annually, effective Jan. 1, 2009.

The settlement agreement also reflects a new power supply cost recovery (PSCR) cost base of 41.71 mills per kilowatt-hour and a PSCR loss factor of 1.04.

Under the current PSCR factor, the average customer will see a monthly increase of $5.24.

The utility, the MPSC staff, Tilden Mining Company, Empire Mining LTD, and Louisiana-Pacific Corporation (LP) participated in the settlement.

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

Case No. U-15500