Approved return on equity: N/A (last rate case was 9.86%)
Approved overall rate of return: N/A (last rate case was 6.08%)
Approved revenue requirement increase: N/A (last rate case was $36.4 million)
Approved residential class rate increase: N/A (last rate case was 15.03%)
Requested return on equity: 10.5%
Requested overall rate of return: 6.42%
Requested revenue requirement increase: $34 million
Requested residential class rate increase: 9.85%
Time period: July 2024 to July 2025
Events:
Indiana Michigan Power’s rate case application includes a request to waive certain rules so the utility can implement a new prepay billing program for residential customers. CUB has been critical of prepay programs in the past for the risks they create for consumers, and we successfully opposed a proposal from DTE to waive consumer protections for a proposed prepay program. We will evaluate Indiana Michigan Power’s request carefully.