In a recent move that has raised both eyebrows and ire, Consumers Energy is gearing up to ask Michigan residents to dig deeper into their wallets with a new electric rate hike request. Fresh off the heels of a $154 million increase approved just last week, the company is pursuing additional charges even before the latest hike takes effect. Attorney General Dana Nessel is not staying silent on the matter, vowing in a statement obtained by Michigan government's news to intervene in the company's plans, as is her ongoing commitment to Michigan's ratepayers.
This latest development comes as no surprise given the state's regulatory framework, which allows utility companies to file for rate increases once every 12 months. Consumers Energy appears to be pushing the limits of this regulation, announcing the new rate request just one day shy of the year mark since their previous filing. Michiganders are set to see the last approved rate hike come into effect on Friday, yet the utility's future plans already cast a shadow over any potential respite for consumers. In her statement, Nessel criticized the cycle of rate hikes, noting on the Michigan Department of Attorney General website, "By allowing Consumers Energy and DTE to file a new rate hike every twelve months, the State is allowing these billion-dollar businesses to ask for more and more before anyone can even gauge the impact of the previous rate hike."
While the amount Consumers Energy aims to gain from its customers in the upcoming hike remains undisclosed, the corporation's history of seeking substantial increases, such as 8.2% in 2024 and nearly 5% in 2023, suggests another significant rise could be looming. A preliminary summary of their new rate hike request is expected to precede the formal application earmarked for June 2, as mentioned in the news release.
Attorney General Nessel's staunch stance against these seemingly perennial petitions for more money from consumers reaffirms her dedication to holding utility companies accountable. "Consumers Energy just got the green-light to raise electric rates, and one week later they’re back with their hands out before putting any of their new earnings to work for their customers," Nessel continued on Michigan Department of Attorney General. Meanwhile, DTE has also intimated that it intends to file its next electric rate hike request in the near future, compounding the financial pressures faced by Michigan energy consumers. Nessel's office is credited with over $3.7 billion in savings for Michigan consumers through interventions in utility cases, underscoring the significance of the AG's efforts.
