Michigan Upholds Price-cap Plan
The Michigan Public Service Commission (PSC) has upheld a 1995 decision permitting Sault Electric Co. to switch to a price-cap rate plan. The plan allows the utility to roll its existing power-supply adjustment clause into base rates to set initial rates; later rate reductions are permitted with only 30 days written notice to the PSC (see, Edison Sault Electric Co., 164 PUR4th 1 (Mich.P.S.C. 1995)).