Less than three months after state regulators approved a $276.6 million electric rate hike for Consumers Energy, the utility is requesting another $456 million increase.
Since 2020, the Michigan Public Service Commission (MPSC) has approved nearly $800 million in rate hikes for Consumers Energy, which provides electricity to roughly 1.9 million customers and natural gas to 1.8 million customers throughout the state.
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In addition to the 9.8% increase in residential electric rates sought by the utility, Consumers is seeking an additional 12-month surcharge of $25 million, an additional $52 million over three years for storm restoration expenses, and the continuation and expansion of the Investment Recovery Mechanism approved in its last rate case.
“The Company’s goal is fewer and shorter power outages for customers,” the filing by Consumers Energy stated. “... Without these investments, the desired improvements in reliability cannot occur.”
Michigan Attorney General Dana Nessel said Tuesday that her office plans to intervene, adding that the utility’s rate hike request is loaded with “completely unsupported, inflated costs.”
“Consumers Energy and DTE keep demanding more and more money, the MPSC continues to reward their incessant demands, and the cycle of constant, growing rate hikes are pushing Michigan families and businesses to the brink,” Nessel said in a news release. “Michiganders are facing an affordability crisis, and our utility companies are recording record profits.”
Other rate hike cases open before the MPSC include Consumers Energy’s natural gas rate hike request, DTE’s natural gas rate hike request and electric rate hike request, SEMCO Energy Gas Company’s natural gas rate hike request, and Upper Peninsula Power Company’s electric rate hike request.