Indiana Michigan Power is asking for a 9.7 percent rate increase for its Michigan customers to cover the cost of maintenance and new emissions controls as part of proposed federal environmental regulations.
The company, which serves more than 128 thousand customers in southern Michigan, filed the proposal today with the Michigan Public Service Commission.
If approved, the company said the increase would cost a residential customer who uses 1,000 kilowatt-hours of electricity every month about $9.10 more per month.
“The outcome of this case will have a clear impact on I&M’s ability to meet customers’ needs and expectations going forward,” said Paul Chodak, president and chief operating officer of Indiana Michigan Power. “We are preparing to invest billions of dollars in providing cleaner energy resources and deliver safe, reliable and affordable service.”
Chodak said I&M power would continue to be among the lowest cost providers in Michigan – even with the proposed increase.
I&M Power said its current ate for residential service is 32 percent lower than the state average and, after the proposed increase, would still be 25 percent lower.
If approved, the higher rate would take effect in 2012.
