Michigan regulators have approved a nearly $66 million electric rate increase for Consumers Energy Co. that takes effect Sunday and is about 38 percent of what the Jackson-based utility originally sought.
The Michigan Public Service Commission says the increase approved Thursday means a residential customer using 500 kilowatt hours of electricity per month will see their monthly bills increase by $1.87 compared to previously approved rates.
Since the utility self-implemented a $2.46 monthly increase in October, customers will see their bills decrease by 59 cents.
The approved rate increase compared with the original $173 million that Consumers sought on March 31.
Consumers later lowered its request to $148 million and on Oct. 1, 2017, self-implemented a $130 million rate increase.