Michigan HB5942 amends rate increase requirements for gas, electric, and steam utilities.

Michigan HB5942 amends the Public Utilities Commission's authority over rate increases for gas, electric, and steam utilities. The bill mandates that utilities cannot increase rates without commission approval. It outlines specific conditions under which the commission may approve a rate increase, such as if the utility has met service quality standards and if the cumulative percentage increase in residential rates does not exceed 12.5% over the preceding 36 months.

Michigan HB5942 amends rate increase requirements for gas, electric, and steam utilities.

Michigan HB5942 amends the Public Utilities Commission's authority over rate increases for gas, electric, and steam utilities. The bill mandates that utilities cannot increase rates without commission approval. It outlines specific conditions under which the commission may approve a rate increase, such as if the utility has met service quality standards and if the cumulative percentage increase in residential rates does not exceed 12.5% over the preceding 36 months.