Indiana Michigan Power (I&M) customers in Michigan will notice a credit on their July billing statements. The credit represents the amount customers are to be refunded to reconcile the total revenues collected during the period of selfimplemented rates with the total revenues that would have been produced had the final rates authorized by the Michigan Public Service Commission (MPSC) been in effect during that period.

Public Act 286 of 2008 permits a utility to self-implement a rate request, if the MPSC has not issued an order within 180 days of a complete application. I&M elected to exercise its option under the law, pending the outcome of the rate case it filed with the MPSC in January 2010. The refund is being paid to customers because I&M agreed to, and the MPSC approved, a settlement in the case for an amount lower than the interim rates that were in effect from late July through November 2010.

I&M’s Michigan customers will receive credits totaling over $3 million dollars. A residential customer using 1,000 kilowatt hours of electricity can expect to receive a one-time credit of $11.06 on their July billing statement.