THINK Applauds MPSC Experimental EV Charging Rate

Dearborn, Mich., August 13, 2010; Electric car maker, THINK praised the Michigan Public Service Commission for approving a special rate structure proposed by Detroit Edison for charging electric vehicles, making it the first utility in Michigan to offer specific rates for electric vehicles for residential customers.

In a statement issued today, THINK CEO Richard Canny said, “Utilities with the foresight to offer special rates for electric vehicle residential customers including offering lower off-peak rates will encourage customers to charge their cars overnight when there is little demand on the grid. Electric cars, like the THINK City, which will be introduced in the U.S. later this year, will help reduce demand for oil and reduce green house gas emissions.”

Detroit Edison’s proposal included funding $2,500 for charging equipment and installation and an off-peak EV charging rate of $0.05 per kWh, which would bring the energy cost of driving an EV like the THINK City to approximately $0.01 per mile.