April 22, 2008

The Michigan Public Service Commission (MPSC) today reconciled Detroit Edison's 2006 power supply cost recovery (PSCR) plan and its 2006 pension equalization mechanism (PEM).

The Commission authorized the utility to collect an under-recovery of $50,890,282 as part of its 2007 PSCR factor.  In addition, the Commission authorized the utility to refund a PEM over-recovery of $22,455,852, including interest, to ratepayers.

Detroit Edison filed an application seeking to reconcile its 2006 PSCR costs (Case No. U-14702-R) and its 2006 PEM costs (Case No. U-15259) on March 30, 2007.   The two cases were consolidated by the MPSC into one case on May 10, 2007.

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

Cases No. U-14702 et al.