Utility plans $478M work at nuclear plant, wants rate hike
Bridgman, Mich. – A utility is planning $478 million in infrastructure improvements at Cook Nuclear Plant in southwestern Michigan and is asking for higher rates to help pay for it.
Fort Wayne, Indiana-based Indiana Michigan Power says the work at the plant along Lake Michigan would take place in 2019-2020.
The utility on Monday submitted its plans to the Michigan Public Service Commission for review. The “Michigan Plan “ would also update poles and wires; add more new equipment to lines, substations and homes; and trim trees.
The utility is asking the Michigan Public Service Commission to review base rates for an overall increase of about $58.5 million, or nearly 19%. The company says the monthly increase for a typical residential customer who uses 1,000 kilowatt hours of energy per month would be $36.