November 4, 2003

The Michigan Public Service Commission (MPSC) today issued an order approving a settlement agreement and authorizing Alpena Power Company to reconcile its power supply cost recovery (PSCR) revenues and expenses for the 12-month period ended December 31, 2002.  The company filed its application on this matter on March 31, 2003.

Terms of the settlement agreement indicate that Alpena Power Company experienced an over-recovery, with interest through December 31, 2002, of $179,929 through operation of its PSCR clause.  This amount includes a prior year under-refund, plus interest. 

The over-recovery has been refunded to the company’s non-industrial customers  through appropriate billing credits applied to customers’ bills during February through May 2003.  Industrial customers received their refund through use of a credit applied to their January 2003 bills.

Today’s order approved the settlement agreement and authorizes the above refunds.  Any balances, consisting of over-refunded or under-refunded amounts, shall be carried forward, with interest, as an addition or offset to Alpena Power Company’s future adjustment requirements in Account 242.

The MPSC is an agency within the Department of Consumer and Industry Services.

Case No. U-13103-R

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