State's electric rates going up
Legislature OKs package raising bills by up to 12%, requiring more renewable power sources; gov to sign it.
An energy package that will raise residential electric rates by up to 12 percent, require more electricity to be generated by renewable sources and put a cap on competition to the major utilities won final passage in the Legislature Thursday.
Gov. Jennifer Granholm, who has been pushing for expansion of renewable energy for months, will sign the two bills in the long-awaited energy plan "as soon as they reach her desk," spokeswoman Liz Boyd said.
DTE officials said the average ratepayer who has a $75-a-month electric bill will pay an additional $6 to $6.50 monthly next year and $8 to $9 a month in the fifth year as a result of the legislation.
Consumers Energy plans to put up a $2-billion coal-fired plant and DTE wants to construct an $8-billion nuclear plant.
Competition from alternative electric companies will be limited to 10 percent of the total market. "The legislation has provided the certainty necessary to construct new power plants," said DTE Chairman Anthony Earley Jr.
The strict limits on competition "will create the largest residential rate increase in Michigan's history," said Barry Cargill, executive director of the Customer Choice Coalition, a group of businesses that favor competition. He estimates the overall impact of the two bills will be an increase of $475 million a year for utility customers, which amounts to $13 a month for DTE customers and a little less for Consumers ratepayers.
Sen. Wayne Kuipers, R-Holland, who voted against the bills, said: "This will result in massive rate hikes at a time when we can least afford it." He said in the wake of 8.9 percent unemployment in the state "what do you say to those who have just lost their jobs and now ask, 'How can I pay for this?' "
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WTF Granholm !?!?!
9% of the state is unemployed and as much as 11% of Detroit and you will raise our price on power 12% ?
Do you have a growth on your brain or something?
Why the hell should Michigan citizens be DEMANDED to foot the bill for new power plant construction that the power companies should be paying....Ford, GM and Chrysler don't ask me for money for new plants....oh wait bad example, yes they do....banks don't demand money from me when they have foreclosed loans....uhmm wait another bad example.
I guess nationalising everything IS the way to go.
It would just be wrong for us to ask poor poor power companies known for never making a profit large enough to pay for their own improvements and to further ensure they remain a monopoly by changing the law to limit competition of new alternative energy improvements facilities to a mere 10%.
How very far sighted Jenny...why didn't you offer massive tax breaks for those up and coming breakthrough companies to COME to Michigan and invest in its people and technology...why do you think Compuware and GM are in Detroit,?
The beautiful scenery?
No they are here because Detroit makes massive concessions to get and keep them here.
Jenny do you have stock in the current power companies or what?
The amount of jobs to be gained by making them a virtual monopoly is so ridiculously low that it will never justify you signing this bill into law.
Nice to know you can destroy a few more lives before leaving office.
And by the way to those folks who see me bashing Republicans constantly , Jennifer Granholm is a Democrat, a crappy, back dealing, self serving Democrat but a Democrat none the less....what a embarrassment to the party.
Welcome To Detroit
