The Michigan Public Service Commission (MPSC) today approved a settlement agreement reconciling Michigan Gas Utilities Corporation's gas cost recovery (GCR) revenues and expenses for the 12-month period ended March 31, 2007.

The settlement agreement found that the utility had a net over-recovery of $1,357,667, including interest.  That amount will be rolled into the company's 2007-2008 GCR gas expenses and reconciliation.

The utility, MPSC staff, the Attorney General, and the Residential Ratepayer Consortium participated in the settlement.

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

Case No. U-14715-R