More good news yesterday for electric service customers.

The Commerce Department published the numbers it uses to estimate the gross domestic product. Including personal consumption expenditures, which is seventy percent of the GDP. 

Including the expenditures for cars, clocks, carpet, computers, cereal, clothing, cosmetics, child care, cabs, clubs, cable, cell phones and casinos. That’s just the c’s. 

And including the expenditures for electric service. 

It is the process of setting a return on equity that is fair to both shareholders and consumers that demonstrates the art and science practiced by regulators. One case reported here provides a good glimpse at the entire range of issues put before regulators: a decision by the Michigan Public Service Commission setting electric rates for Consumers Energy Company.