- Associated Press - Tuesday, January 13, 2015

MARQUETTE, Mich. (AP) - The state and several energy providers have agreed in principle to a plan that would eliminate costly rate payments for Upper Peninsula utility customers.

Gov. Rick Snyder’s office says Tuesday that the deal also will provide the U.P. with long-term, cost-effective energy reliability.

Rate payment hikes for the Presque Isle Power Plant in Marquette could mean about $150 or more per year for residents and tens of thousands of dollars for businesses. Those payments likely would end in July when Upper Peninsula Power Co. is expected to acquire the plant.

Invenergy would build and operate a natural gas-powered facility that would start up before the Presque Isle plant shuts down in 2020.

The new facility would supply electricity and steam to Cliffs Natural Resources and excess energy to other utilities.

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