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MPSC Authorizes Consumers Energy to Increase Securitization Bond and Tax Charges
Judy Palnau (517) 241-3323
November 13, 2008
The Michigan Public Service Commission (MPSC) today authorized Consumers Energy Company to increase securitization bond and tax charges, effective Dec. 1.
The Commission authorized the company to increase the bond principal and interest securitization surcharge from 1.269 mills per kilowatt-hour to 1.358 per kilowatt-hour and to increase the tax surcharge from 0.535 mills per kilowatt-hour to 0.611 mills per kilowatt-hour.
The increases are part of periodic true-up of the charges required to ensure that the amounts collected are sufficient to service the securitization bonds and to recover the associated tax liability.
In reviewing the adjustments proposed by the utility, the MPSC staff concluded that the adjustments were routine, the calculations were accurate, and the proposed adjustments conform to the methodology previously approved by the MPSC.
The MPSC is an agency within the Department of Labor & Economic Growth.
Case No. U-12505