UPPCO Says Electric Bills Will Go Down In 2018

This press release was issued by UPPCO:

Marquette – Upper Peninsula Power Company (UPPCO) is planning to file its 2018 Power Supply Cost Recovery (PSCR) plan with the State of Michigan. When coupled with other recent actions taken by UPPCO, the PSCR filing is expected to lower annual energy costs by approximately $5.5 million, beginning in January of 2018. The net effect of the adjustments being announced by UPPCO should save residential customers approximately 1.5 percent on their energy bills. Commercial and Industrial customers are also expected to save approximately 7 and 13 percent, respectively.

In addition to the latest round of PSCR adjustments, UPPCO has been phasing in new customer rates through the “rate-deskewing” process. Rate-deskewing was mandated by the State in 2008 and gradually realigns the rates being charged for each customer class (Residential, Commercial and Industrial) through a series of annual adjustments. These adjustments are made to account for the true cost of providing electric utility service to consumers. In September, UPPCO will implement the next round of rate-deskewing adjustments, as required by State law.

“UPPCO is working hard to reduce our customer’s energy costs while improving upon customer service,” said UPPCO CEO Jim Larsen. “We are developing more efficient ways of delivering safe, reliable and affordable energy. The developments we’re announcing today are examples of our ongoing commitment to provide increased value to our customers.”

Customers are also reminded that UPPCO has opted to administer the State’s Energy Waste Reduction or “EWR” program. As administrator of the EWR program, UPPCO expects to save its customers approximately $1 million on an annual basis. UPPCO also recently announced it plans to participate in the Low-Income Energy Assistance Fund (LIEAF). The LIEAF surcharge was established by State Law in 2013 to fund a heating assistance program for low-income residents. LIEAF is distributed to eligible customers via Michigan’s 2-1-1 service through local agencies.

“UPPCO’s leadership is committed to looking for new and innovative ways of reducing energy bills while increasing our ability to provide exceptional customer service,” said Larsen.