I&M Seeking 17% Rate Increase

You could be getting an electric rate increase next year. Indiana Michigan Power spokesperson Tracy Warner tells WSJM News the company has asked the Michigan Public Service Commission to review its rates as it seeks to increase them by 17% on average. He tells us the change reflects I&M’s efforts to keep the grid reliable. It’s also in response to an ongoing $1.2 billion project at the Cook plant.

“Several years ago, we started what we call the Life Cycle Management Program there to replace the equipment and keep it running through the 2030s,” Warner said. “That has never been on our rates in Michigan, and so we are asking the commission to allow us to seek recovery for that.”

Warner tells us the average customer who uses 1,000 kilowatt hours per month would see their bill go up less than $1 a day under the request. The MPSC has 10 months to make its decision. Warner says I&M has not sought a rate increase since 2011.