WOOD Radio Local News

WOOD Radio Local News

WOOD Radio Local News

 

Consumers Energy Gas Rates to Rise November 1

UNDATED, Mich. -- The Michigan Public Service Commission has approved a natural gas rate increase for Consumers Energy, set to take effect on November 1. The commission authorized a rate hike of $157.5 million, significantly less than the $217 million Consumers Energy initially requested. This increase aims to enhance the safety and reliability of the gas pipeline system by replacing lines most at risk of leaks and service interruptions.

For residential customers using 75 hundred cubic feet of natural gas, the rate increase will result in an additional charge of $6.44 per month, representing an 8.1% rise in their monthly bill. The commission also approved a rate of return on common equity of 9.8% and an overall rate of return of 5.99%.

The approved rate hike is part of Consumers Energy's ongoing efforts to improve infrastructure and ensure consistent service to its customers. The increase is intended to fund key investments that will enhance the gas pipeline system's overall safety and reliability.

According to the Michigan Public Service Commission, the rate adjustment is necessary to address aging infrastructure and prevent potential service disruptions. As the changes take effect, customers are encouraged to review their energy usage and explore ways to manage their bills.


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