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MPSC approves DTE securitization order; customers projected to save $62.5 million
Summary
The commission approved a financing order allowing securitization of qualified costs tied to tree trimming and coal-handling retirement; staff estimated DTE customers would save $62,500,000 in financing costs under the settlement.
The Michigan Public Service Commission approved an order in case U-22109 that implements a settlement authorizing securitization of qualified costs related to tree trimming, vegetation management and retirement of coal-handling facilities at DTE Electric's Belle River plant. Chair Dan Scripps said using securitization to recover remaining book values and associated costs offers customer savings by leveraging lower-cost financing.
Scripps noted the projected savings, stating: "DTE Electric's customers are projected to save $62,500,000 in financing costs." The commission voted unanimously to approve the settlement and financing order.
