JACKSON, Mich., Sept. 24 /PRNewswire/ -- Consumers Energy will update the Balanced Energy Initiative, a comprehensive plan to meet the energy needs of its 1.8 million electric customers over the next 20 years, to reflect Michigan's new energy policy, the utility announced today.
The Michigan Legislature approved a comprehensive energy reform package last week and sent it to Gov. Jennifer Granholm, who is expected to sign it into law soon.
The wide-ranging package includes provisions creating a certificate of necessity regulatory process at the Michigan Public Service Commission (MPSC) for investments of $500 million or more. Utilities seeking a certificate of necessity for a new power plant or major expansion of an existing power plant are required to submit an integrated resource plan to show the need for the additional power plus other information about the proposed project.
Consumers Energy's Balanced Energy Initiative is an integrated resource plan that calls for meeting the growing customer demand for electricity with energy efficiency, demand management, expanding the use of renewable energy, and developing new power plants, along with utilizing existing generating sources.
"Our Balanced Energy Initiative establishes a solid foundation for us to meet the provisions of the new, forward-looking energy policy put in place by state lawmakers. We will be updating our Balanced Energy Initiative to bring it in line with that new policy and the rules that will be established by the Michigan Public Service Commission," said John Russell, the utility's president and chief operating officer.
Russell noted that after Gov. Granholm signs the energy policy, the MPSC will be responsible for creating the rules for utilities to follow in developing certificate of necessity filings.
Since the Balanced Energy Initiative will need to adhere to those rules, Consumers Energy withdrew today its original filing, which was made on May 1, 2007. The utility will submit the Balanced Energy Initiative for MPSC review after it is updated to reflect the new policy and rules, Russell said.
"Thanks to historic action by state lawmakers, Michigan now has the energy policy it needs to allow for a balance of energy sources and strategies, including energy efficiency and renewable energy. Those will remain key parts of the Balanced Energy Initiative. The goal of this comprehensive plan is unchanged. It is designed to help maintain affordable and reliable supplies of electricity for Michigan's families and businesses," Russell said.
The Balanced Energy Initiative is part of Consumers Energy's Growing Forward strategy, which calls for investing $6.4 million in the utility over the next five years. That includes significant investments in energy efficiency, renewable energy, environmental and customer service enhancements, and new power generation.
"We expect these investments to create thousands of jobs in Michigan and to help improve the state's economy as well as supporting our ongoing efforts to provide reliable, affordable service to our customers," Russell said.
Consumers Energy, the principal subsidiary of CMS Energy , provides natural gas and electricity to nearly 6.5 million of Michigan's 10 million residents in all 68 Lower Peninsula counties.
For more information about Consumers Energy, visit our Website at http://www.consumersenergy.com/
