LANSING, Mich. (Michigan News Source) – The Michigan Public Service Commission, a state regulation entity which oversees utility companies, approved a $30.5 million electric rate hike for DTE Energy customers.
The approval rate is less than 10% of the increase the utility had sought. The original price tag request came in close to $338 million.
The change will take effect on Nov. 25 and result in an increase of about 71 cents monthly for a typical residential customer who uses 500 kilowatt hours.
DTE officials said the rate hike is tied to an effort to modernize and improve reliability of the state’s energy grid and electric storage and generation system.