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Det. Edison plans to cut rates $38M: some say that's not enough. (Detroit Edison Co.)
Crain's Detroit Business, November, 1997 by Lane, Amy
LANSING - The Detroit Edison Co. plans to cut rates by $38 million next year, but some of the utility's largest customers argue that rates should drop by another $15 million. Big energy users, including industrial companies and universities, contend a 1988 settlement signed by Edison provides a $53 million rate cut next year and a $170 million cut in 1999.
The settlement arose from a state Public Service Commission case that included some of the cost of Edison's $4.5 billion Fermi 2 nuclear plant in the utility's rate base. "It's like welshing on a deal," said former PSC commissioner Eric Schneidewind, now counsel to a group called Energy Michigan Inc. He is a partner in the Lansing office of Varnum Riddering Schmidt & Howlett L.L.P. "They got the front-end...
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