Printer Friendly

DETROIT EDISON CUSTOMERS WILL PAY NEARLY 5 PERCENT LESS IN 1993

 DETROIT EDISON CUSTOMERS WILL PAY NEARLY 5 PERCENT LESS IN 1993
 DETROIT, Oct. 6 /PRNewswire/ -- Detroit Edison's 1.9 million customers will pay nearly 5 percent less for electric service beginning Jan. 1, 1993, if the Michigan Public Service Commission (MPSC) accepts a proposed fuel adjustment settlement agreement reached Monday.
 The proposed $174 million reduction would cut next year's rates $28 million below the levels announced July 1 when the utility originally filed for a 1993 rate reduction. The reduction combines an adjustment for fuel costs and elimination of an expense surcharge included in a rate settlement negotiated in late 1988.
 The lower fuel costs result from a successful companywide effort to reduce expenses and pass the savings on to customers, said Larry G. Garberding, Detroit Edison executive vice president and chief financial officer.
 Under the proposal, the average residential customer using 500 kilowatthours (kWh) of electricity per month will pay an average of $2.16 less, or $46.58, per month next year.
 The settlement agreement was reached with the Michigan attorney general, the Association of Businesses Advocating Tariff Equity (ABATE), Energy Michigan Inc., the Residential Ratepayers Consortium and the MPSC staff.
 The company's filing for rate changes effective in 1994 remains before the MPSC.
 -0- 10/6/92
 /CONTACT: Mary Kay Bean, 313-237-8809, or Lorie N. Kessler, 313-237-8807, both of Detroit Edison/
 (DTE) CO: Detroit Edison; Michigan Public Service Commission ST: Michigan IN: UTI SU:


SB -- DE017 -- 7069 10/06/92 12:24 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 6, 1992
Words:246
Previous Article:PABST BREWING WINS GOLD AND SILVER MEDALS AT XIth GREAT AMERICAN BEER FESTIVAL
Next Article:THE CHICAGO MERCANTILE EXCHANGE (CME) ANNOUNCES LUNCHEON HOSTED BY THE LOS ANGELES SOCIETY OF FINANCIAL ANALYSTS, OCT. 13
Topics:


Related Articles
DETROIT EDISON FILES WITH MPSC FOR LOWER ELECTRIC RATES
DETROIT EDISON TO OFFER $5.6 MILLION TO AID LOW-INCOME CUSTOMERS
DETROIT EDISON JUNE SALES INCREASE 6.5 PERCENT
DETROIT EDISON OFFERS HELP TO AVOID SHUTOFFS
DETROIT EDISON REDUCES RATES
DETROIT EDISON TAX PAYMENTS BENEFIT SCHOOLS, COMMUNITIES
DETROIT EDISON REPORTS THIRD-QUARTER EARNINGS
DETROIT EDISON CUSTOMER BILLS DROP BECAUSE OF LOWER FUEL PRICES
DETROIT EDISON WINS REGULATORY APPROVAL OF BIG THREE CONTRACTS
DETROIT EDISON CUSTOMERS SET USAGE RECORD

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters