October 23, 2003

The Michigan Public Service Commission (MPSC) today issued an order approving a settlement agreement and authorizing Edison Sault Electric Company to start a power supply cost recovery reconciliation proceeding for the 8-month period May through December 2002.  The company filed its application on March 31, 2003.

Terms of the settlement agreement indicate that Edison Sault experienced a net over-collection of $877,892 with additional interest in the amount of $42,186 for 2002.  The company proposed to calculate and refund amounts to standard tariff and special contract customers separately.

For standard tariff customers, Edison Sault proposed a refund of $784,189, with additional 2003 interest refunded through a credit of $0.00616 per kilowatt-hour in the months of May through August 2003.

To special contract customers, Edison Sault refunded $142,056.

Today’s MPSC order approves the settlement agreement and refund proposals.

The MPSC is an agency within the Department of Consumer and Industry Services.

Case No. U-13114-R

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