The Upper Peninsula Power Company (UPPCO) applied Friday to the Michigan Public Service Commission (MPSC) for permission to raise retail electric base rates by 8.10 percent.
While the net effect on customers will vary by rate classification, if approved, the average residential customer in the Integrated System using 500 kilowatt-hours of electricity per month would see an increase of approximately $10.15 per month.
An average residential customer in the Iron River System using 500 kilowatt-hours a month would see an increase of approximately $10.09.
The MPSC oversees the rates UPPCO charges and must approve any rate increases. The actual increases may change as UPPCO works with the Commission and conditions change.
The major reasons for UPPCOâ??s request are directly related to covering expenses for several improvement projects and inflation.