DETROIT (WWJ) – Some Metro Detroiters’ utility bills could be going up. DTE Electric has asked the Michigan Public Service Commission to approve a rate increase.
If approved, the average DTE customer would see an increase of about $3.25 in their monthly bills. It would be the first rate increase in four years. The utility company says the higher rates will help recover money invested in the past four years to improve reliability and install environmental controls at it power plant to reduce emissions.
“DTE has been an industry leader in controlling operating costs over the last 10 years,” president and chief operating officer of DTE Electric Jerry Norcia said. “However, because of the significant investments we’re making to ensure that Michigan has adequate and reliable electric supply in the long-term, we have requested a rate increase at this time.”
The new rate would represent an annual increase of approximately 1.5 percent and includes other rate offsets in 2014 and 2015.
“We have made, and will continue to make, significant investments,” Norcia said. “These investments not only help us deliver cleaner, reliable energy for Michigan’s families and businesses, but also make Michigan a more competitive place to do business.”
DTE Electric is asking the Michigan Public Service Commission to allow recovery of approximately $3.5 billion of investments made over the last four years. The filing requests a rate increase of $370 million.