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MPSC Approves Settlement Agreement Reconciling Cloverland Electric Cooperative's 2009 Power Supply Costs, and Granting a $1,383,398 Rate Increase
September 28, 2010
The Michigan Public Service Commission (MPSC) today approved a settlement agreement reconciling Cloverland Electric Cooperative's 2009 power supply cost recovery (PSCR) expenses and revenues and adjusting its times interest earned ratio ratemaking (TIER) mechanism.
The settlement found the utility under-recovered $82,219 in PSCR costs, which the utility will roll into its 2011 power supply cost recovery plan, along with any additional 2010 over/under recovery.
The utility also reported an adjusted TIER of 1.064, requiring a $1,383,398 revenue increase, or approximately 6.08 percent. As a result of the adjusted TIER, a residential customer using 500 kilowatt-hours a month will see a monthly bill increase of $3.02, effective for service rendered with the next full cycle of billings.
The MPSC is an agency within the Department of Energy, Labor & Economic Growth.
Case No. U-15666-R