Michigan SB1031 amends utility rate-setting procedures, focusing on cost recovery and revenue adjustments.

Michigan SB1031 amends the Public Utilities Commission's procedures for setting utility rates. It mandates that electric utilities can recover certain fuel and operation costs from ratepayers. The bill also allows for the use of actual costs during a historical test year for setting rates, particularly for smaller utilities. Additionally, it requires the commission to consider revenue decoupling mechanisms for energy waste reduction measures. The commission must notify utilities within 30 days if their rate application is complete.

Michigan SB1031 amends utility rate-setting procedures, focusing on cost recovery and revenue adjustments.

Michigan SB1031 amends the Public Utilities Commission's procedures for setting utility rates. It mandates that electric utilities can recover certain fuel and operation costs from ratepayers. The bill also allows for the use of actual costs during a historical test year for setting rates, particularly for smaller utilities. Additionally, it requires the commission to consider revenue decoupling mechanisms for energy waste reduction measures. The commission must notify utilities within 30 days if their rate application is complete.