Regulators OK increased electric rates at DTE Energy

Associated Press

Lansing — The average residential customer of DTE Energy will pay $8.22 a month more for electricity under a rate increase.

The Michigan Public Service Commission Friday authorized DTE to raise power rates by $238 million annually, effective next week, less than the $370 million hike the utility sought.

Because DTE self-implemented a $2.82 monthly rate reduction in July, residential customers will pay $11.04 more than in 2011, the last time regulators ruled.

The total rate increase is 5.3 percent. Commercial rates will rise 3.4 percent and industrial rates will fall 2.4 percent.

PSC Chairman John Quackenbush says customers will benefit from a more reliable system and cleaner environment because DTE is buying two natural gas-fired electric plants. DTE is closing two coal-fired plants next year.