September 25, 2007

The Michigan Public Service Commission today approved the power purchase agreement between We Energies and FPL Energy Point Beach , LLC (FPL), finding it is of significant value to ratepayers. FPL is the proposed buyer of Point Beach nuclear plant.

The Michigan retail portion of the proceeds from the sale of the Point Beach plant will be refunded to customers in accordance with the Commission's order. To determine the amount of the refund due to customers, the MPSC directed We Energies to use 2006 calendar year sales data to calculate the appropriate equal mills per kilowatt-hour negative surcharge to apply to customers' bills for 18 monthly billing cycles following the sale.

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

Case No. U-15220