Michigan is now one step closer to an electricity market that is competitive, according to recent activity in the Michigan Senate. S.B. 937 and S.B. 1253 passed the Senate on May 23. The legislation how moves to the House, and supporters hope to have it on Governor Engler’s desk by mid-June. Last summer, Michigan’s Public Service Commission called for a restructure, but the Michigan Supreme Court declared that the commission lacked authority to require restructuring. The new plan is considered controversial. It calls for a 5 percent rate cut for residential consumers; it will also allow utilities to recoup stranded costs for up to fifteen years.
Based on a report from BOMA’s Potomac Currents
