Consumers Energy filed a request with the Federal Energy Regulatory Commission (FERC) to transfer its electric transmission system assets to a new wholly owned subsidiary, Michigan Electric Transmission Company (Michigan Transco). The proposed transfer is the first step in a plan to sell or transfer control of its transmission business to a party which meets the requirements of FERC Order 2000. Michigan Public Act 141, the electric industry restructuring legislation signed by Governor Engler in June, requires that investor-owned Michigan utilities sell or transfer control of their transmission systems to an independent organization by the end of next year. After the transfer is completed, Consumers will function solely as a generation and distribution company taking service from Michigan Transco under FERC-approved transmission tariffs. "Our next step is to fully evaluate all alternatives to achieve full independence of the transmission business,"said David W. Joos, president and CEO-electric.Consumers Energy, the principal subsidiary of CMS Energy, is Michigan's largest utility providing natural gas and electricity to more than six million people.
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