October 25, 2007

The Michigan Public Service Commission (MPSC) today approved a settlement agreement reconciling Upper Peninsula Power Company's 2006 power supply costs.

The settlement agreement found that the utility over-recovered a net amount of $1,784,000 from its Integrated System customers, and it over-recovered a net amount of $227,616 from its Iron River System customers. The company has been directed to refund the amounts to its customers via bill credits.

The utility, the MPSC staff, Michigan Technological University, Smurfit-Stone Container Corporation, and Calumet Electronics Corporation participated in the proceedings.

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

Case No. U-14706-R