The Michigan Public Service Commission has granted one utility company in the state of Michigan the authorization to securitize its stranded costs to help reduce power rates in the state last month, and one other gained approval last Thursday.

The Commission agreed last Thursday to allow DTE Energy Co.'s Detroit Edison to securitize up to $1.774 billion in stranded costs, resulting from a 5% residential rate reduction that took effect in June. The figure is slightly less than the $1.84 billion DTE had requested, but the company is pleased with the Commission's action.

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