(Source: MIRS.news, Published 03/28/2024) DTE is asking the Michigan Public Service Commission to sign an electricity rate increase of more than $450 million, which Attorney General Dana Nessel is saying is far too much.
The utility filed the required rate case with the MPSC and asked to be able to adjust retail sales of electricity to provide $622 million annually, which, if approved by the commission, would take effect January 2025.
“This latest rate hike request from DTE is, frankly, absurd in both the astounding dollars and obnoxious timing – requesting yet another $450 million not even four months since their last rate hike was approved,” Nessel said.
Nessel said she intended to go after all utility rate increases that made it before the MPSC.
“DTE is following their usual playbook, incessant and oppressive rate hike requests not grounded in reality, but rather based on the financial aspirations of their corporate shareholders,” Nessel said.
The rate case with MPSC states the increase DTE is asking would raise the bill for the average residential customer by $8.06 per month and provide the utility with a 9.9 percent return on equity.
DTE states their rate case filing is primarily driven by a means of wanting to improve power generation “to bring cleaner energy faster to the state.”
The utility also said it was looking to implement technology to cut power outages by 30 percent and outage time by 50 percent over the next five years.
The rate case and objection were both filed today. If approved by the MPSC, the new rate would take effect Jan. 28, 2025.
