CMS Energy Corp’s unit Consumers Energy said on Wednesday it will explore the sale of its 13 hydroelectric dams, as the energy provider looks to minimize the cost burden on customers.
The utility service provides natural gas and electricity to 6.8 million of Michigan’s 10 million residents, according to its website.
“We know the current model for financing our hydroelectric power operations requires customers to pay more than nine times for the cost of energy compared to other sources of generation,” said vice president Norm Kapala.
Consumers Energy’s 13 dams together produce less than 1% of electricity used by the energy provider’s customers, and they are several times more expensive than other energy sources.
Michigan’s largest energy provider will be issuing a request for proposal (RFP) to explore the possibility of a sale. The company said no final decision has been made, adding it continues to explore all options.
Topics Michigan
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