The Michigan Public Service Commission (MPSC) Monday (January 28th) approved a modified certificate of necessity (CON) for Indiana Michigan Power Company’s proposed life-cycle management (LCM) project at its Cook Nuclear Plant in Bridgman, Mich. The MPSC order marks the first time that a CON has been granted since enactment of Public Act 286 of 2008.
The utility, on May 1, 2012, filed an application with the MPSC seeking the CON and related accounting authority for its proposed significant investments at its existing, recently relicensed Cook facility. In its filing, the company said the project, expected to be complete by 2018, will enable it to achieve the benefits of the extended licenses.
In Monday’s order, the Commission approved a CON amount of $850,972,100, about 17 percent of which will eventually be assigned to Michigan ratepayers. The utility originally requested $1.169 billion.
Monday’s order also directs the utility to engage a third party contractor to provide semi-annual updates on the progress of the LCM, including information on construction progress and budget information, and to consult with the Commission’s CON section staff within 60 days to discuss the appropriate contents of the first report.
The MPSC is an agency within the Department of Licensing and Regulatory Affairs.
Source: News release from Michigan Public Service Commission