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Consumers File Proposed Settlement Agreement
Dockets:
U-21490
Category: Uncategorized
Consumers filed proposed settlement agreement. Parties agree to the following:
- to authorization of Consumers to increase retail gas rates resulting in additional revenues of ~$35 million with an ROR of 9.9%;
- Consumers will use ~$27.5 million of the proceeds from the sale of its unregulated Home Energy Products Program “as an offset to the revenue deficiency in lieu of additional rate relief during the test year,” with the remaining ~$82.5 million “credited back to customers, through the Home Products Credit over a three-year period starting with the test year”; and
- authorization for Consumers “to implement a Pension and Other Post-Employment Benefits (‘OPEB’) Volatility Mechanism that authorizes the Company to compare actual Pension and OPEB expense to amounts included in rates, with any difference recorded as a regulatory asset or regulatory liability for future recovery from, or credit to, customers and would be amortized over 10 years starting the following January.”
Settlement Agreement (07/12//2024)
ALJ Memo (07/03/2024)
(ALJ Issued Memo Canceling Hearing Dates Because Parties Have Reached A Settlement)
U-21490 (Opened on 10/13/2023)
In the matter of the Application of Consumers Energy Company for authority to increase its rates for the distribution of natural gas and for other relief.
