LANSING, Mich. – Large industrial manufacturing companies that meet certain criteria can apply to receive a reduced electricity rate under legislation signed today by Gov. Rick Snyder.
“The availability of this new long-term industrial load rate will allow companies with high energy costs to continue expanding in Michigan, providing opportunities for economic growth and more jobs for Michiganders,” Snyder said.
House Bill 5902, sponsored by state Rep. Dan Lauwers, gives authority to the Public Service Commission to allow customized electricity rates for companies meeting certain criteria. Current law requires electricity rates to be based on cost of service. This bill authorizes the commission to make an exception, providing that certain requirements are met, including: