Michigan Approved $420 Million in Rate Hikes, $4.1 Billion in Federal Tax Cut Refunds Last Year: Report
The Michigan Public Service Commission authorized rate increases totaling $417.5 million in five electric and natural gas rate cases last year, $245.5 million less than what the utilities requested, according to the agency’s annual report issued on March 2. The increases were driven largely by investments needed to replace aging infrastructure to improve safety and…