Indiana Michigan Power has filed for permission to initiate a $478 million infrastructure improvement plan for the Cook Nuclear Plant in southwestern Michigan and is asking for a substantial rate hike to cover the costs.
The utility submitted its plans to the Michigan Public Service Commission, which needs to approve the plan that covers infrastructure improvements inside the plant and outside. The plan also covers “new equipment to lines, substations and homes and trim trees,” the Associated Press reported.
Indiana Michigan power is seeking a base rate hike of close to 19 percent, totaling $58.5 million, the AP said. That would amount to a $36 per month rate hike for a home using 1,000 kilowatt hours per month.
The Cook Nuclear plant consists of two Westinghouse four-loop Pressurized Water Reactors, both of which have been granted license extensions to allow operations up to 60 years. Unit 1 at the plant was commissioned in October 1974 and has been licensed through October 25, 2034. Unit 2 was commissioned in December of 1977 and has been licensed through December 23, 2037. License extensions were approved for the two units in August 2005.
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