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Edison: State will have to free rates for electricity.(Detroit Edison Co. explores major rate change)(Brief Article)
Crain's Detroit Business, April, 2001 by Lane, Amy
LANSING - Detroit Edison Co. is exploring a major rate change that could move the utility from charging fixed rates to those that reflect electricity's market price. Edison is discussing the idea with lawmakers and would like them to address the issue by the time the company's current freezes and caps on rates expire.
``Between now and 2003 and 2004, the Legislature is going to have to take this up,'' said Anthony Earley Jr., the chairman and CEO of Edison parent DTE Energy Co. (NYSE: DTE). ``We're going to have to have the ability to move up and down with the marketplace.'' Edison contends that as Michigan electricity restructuring moves forward, customers will be able to leave Edison to buy electricity from other suppliers whose rates are not fixed....
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