DTE gets approval to raise electric rates starting Friday
(5/12/2020) - Michigan’s biggest power utility can raise customer bills starting Friday after regulators approved a rate hike that is about half of what was sought.
The $188 million increase by DTE Electric, which has 2.2 million customers in Southeast Michigan, is about $4 a month for a typical residential customer using 500 kilowatt hours of electricity.
The Michigan Public Service Commission said the impact will be softened temporarily when the utility passes along $30 million to $40 million in relief because it is spending less on fuel to generate electricity.
Regulators rejected more than $160 million in spending at coal-fired plants.