In a settlement agreement, the Michigan Public Service Commission approved a refund to Consumers Energy electric customers, according to their press release on Wednesday.
The company had collected more on their increase than originally approved by the Commission and will refund an average of $3.45 per residential customer in December, the press release said.
Under a provision in Michigan law, a utility can self-implement new rates before a decision by the Michigan Public Service Commission on whether to approve all or a portion of the requested increase.
Consumers had collected $16,691,000 more, including interest, than what was ultimately approved by the Commission in February. Consumers had sought a $170 million electric rate increase, but the Commission approved $113.3 million, according to the press release.