MI SB0812

Requires the Michigan Public Service Commission to use a utility's actual historical cost data (historical test year) adjusted for known and measurable changes to establish rates, eliminating the previous allowance for utilities to use projected future costs and revenues.

Removes the requirement that utilities delay implementation of rate increases pending commission decision if they used projected costs, but maintains the 180-day implementation deadline for utilities that file complete applications.

Adds a new definition of "historical test year" as the most recent 12-month period for which the utility has actual cost and revenue data.

Updates references to the Clean and Renewable Energy and Energy Waste Reduction Act to extend the scope from MCL 460.1211 to MCL 460.1232.

Makes conforming changes to statutory language, replacing "shall" with "must" in provisions regarding automatic adjustment clauses for fuel, purchased gas, and purchased steam.