Business Services Industry
1999 Edison rate cut may not materialize
Crain's Detroit Business, July, 1998 by Lane, Amy
AMY LANE LANSING - Detroit Edison Co. customers who thought they would get a $170 million rate cut in 1999 may want to think again. The utility plans to use the money to speed recovery of the cost of its Fermi 2 nuclear plant in Monroe County. Edison filed a July i proposal with the state Public Service Commission to accelerate the payment schedule of Fermi 2, out of concern that an impending time line for electric-utility deregulation would not allow it to recover such costs fully.
Critics, including Michigan Attorney General Frank Kelley and the Association of Businesses Advocating Tariff Equity, say Edison is breaking a promise. But Edison says a 1988 settlement at the heart of the issue never required a rate cut to begin with. 'It never says anywhere in the...
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