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State report projects increased demand for energy, lower costs if gas, oil prices remain low

Michigan residents and businesses will increase their power demand while paying lower prices this summer and fall, according to a new state report.

The electricity market likely will increase the amount of natural gas-fueled generation compared to other fuels as a result of better prices, the Michigan Public Service Commission said Friday in its summer energy appraisal. The report said residential and commercial customers should see lower heating and cooling bills as well as cheaper prices at the gas pump.

“The demand for energy in Michigan is projected to increase across all sectors in 2015, assuming a return to normal summer weather and reflecting continued price advantages in the natural gas and petroleum markets,” the report said.

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