Michigan

Southern Constructing New Plant in Michigan

To assist in the growing demand for electricity in the upperMidwest, Southern Energy Inc. plans to begin construction thismonth of a natural gas-fired plant in Zeeland, MI that will useadvanced natural gas combined-cycle technology and state-of-the-artemission control equipment. Commercial operations are expected tobegin in June 2001, with an initial 300 MW of capacity. Anadditional 530 MW will begin commercial operation by June 2003.

May 12, 2000

Industry Briefs

MCN Energy Group Inc. completed the previously announced sale ofits share of the Midland Cogeneration Venture Limited Partnership(MCV) in Michigan. Subsidiaries of Coastal bought MCN’s 23% interestin MCV for an undisclosed amount said to be near book value. MCV wasdesignated as a Qualifying Facility (QF) under the federal PublicUtility Regulatory Policies Act of 1978, or PURPA. PURPA requiresutilities to purchase power from QFs at the utilities’ avoided cost ofproducing power. MCN is selling its interests in three other QFs inanticipation of its pending merger with DTE Energy Co. (see Daily GPI,Oct. 6).

January 7, 2000

Pipeline Sale Improves Duke 1Q Earnings

The $1.9 billion sale in March of Panhandle Eastern Pipe Lineand Trunkline Gas to Michigan-based CMS Energy resulted in aone-time gain of $1.82 per share for the first quarter and anafter-tax gain of $660 million, putting Duke earnings for thequarter over results in the same quarter last year. Duke reportedearnings of $2.65 per share, compared with 87 cents in 1Q98.Without the sale, and the absence of an extraordinary item fromlast year’s quarter, basic first-quarter earnings were 83 cents pershare versus 89 cents last year.

April 26, 1999

Pipeline Sale Improves Duke 1Q Earnings

The $1.9 billion sale in March of Panhandle Eastern Pipe LineCo. and Trunkline Gas Co. to Michigan-based CMS Energy resulted ina one-time gain of $1.82 per share for the first quarter and anafter-tax gain of $660 million, putting Duke earnings for thequarter over results in the same quarter last year. Duke reportedearnings of $2.65 per share, compared with 87 cents in 1Q98.Without the sale, and the absence of an extraordinary item fromlast year’s quarter, basic first-quarter earnings were 83 cents pershare versus 89 cents last year.

April 22, 1999

Consumers Expands Retail Program

Consumers Energy will expand its “Gas Customer Choice” retailprogram this April to 100,000 customers state-wide in Michigan,following a one-year pilot that allowed 500 customers in Bay Countyto pick another natural gas supplier. In all, 300,000 customerswill be given a choice of suppliers over the next three years.

March 2, 1998
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