TRAVERSE CITY -- State regulators approved renewable energy plans for 40 publicly owned utilities around Michigan, including Traverse City Light & Power Co.
The Michigan State Public Service Commission on Wednesday approved renewable energy and energy optimization plans for dozens of municipal power companies, providing for rate increases and surcharges for the utilities to generate more renewable power and offer financial incentives and rebates to customers to reduce electricity use.
City Light & Power officials said customers won't see a rate hike in the near term. The city's plans provide for a monthly renewable energy plan (REP) surcharge of up to $3 on residential customers, and a monthly energy optimization (EO) surcharge averaging 57 cents for residential users. But the Light & Power board now agreed to pay for those costs out of the utility's current rate structure, officials said.
"Right now, we don't plan a rate increase for four years," utility spokesman Jim Cooper said.
The MPSC also approved REP and EO plans for public utilities serving Harbor Springs, Charlevoix and Petoskey.
The Charlevoix plan allows for an EO average residential surcharge of 58 cents, with no REP surcharge. Harbor Springs can collect up to a $3 monthly REP surcharge and an EO average residential fee of 43 cents per month. The Petoskey plans allow for a monthly REP surcharge up to $3 a month and 91 cents monthly for the EO surcharge.
The municipal utilities have up to 90 days to implement the renewable energy plan surcharge, and can immediately collect the energy optimization fees.
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