ML20217E910
| ML20217E910 | |
| Person / Time | |
|---|---|
| Site: | Palisades, Big Rock Point File:Consumers Energy icon.png |
| Issue date: | 04/21/1998 |
| From: | Haskell N CONSUMERS ENERGY CO. (FORMERLY CONSUMERS POWER CO.) |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| References | |
| NUDOCS 9804270459 | |
| Download: ML20217E910 (2) | |
Text
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Q A CMSEnergy Ownpany Pahsades Nuclear Plant Tel: 616 764 2276 27780 Blue Star Memonal Highway far 616 764 249C Covert. MI 49043 Director. Lkensing April 21,1998 U.S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555 DOCKET 50-255 - LICENSE DPR BIG ROCK POINT DOCKET 50-255 - LICENSE QPR PALISADES PLANT 1997 CONSUMERS ENERGY COMPANY ANNUAL REPORT in accordance with the requirements of 10 CFR 50.71(b), attached is the 1997 Consumers Energy Company's annual financial report, including the certified financial statements.
SUMMARY
OF COMMITMENTS This letter contains no new commitrnents and no revisions to existing commitments.
A at an L. Haskell irector, Licensing CC Administrator, Region Ill, USNRC Palisades Project Manager, NRR, USNRC Big Rock Point Project Manager, NRR, USNRC NRC Resident inspector- Palisades NRC Resident inspector - Big Rock Point Attachment ,
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CONSUMERS ENERGY COMPANY BIG ROCK POINT DOCKET 50-155 i
i PALISADES PLANT DOCKET 50-255 l
1997 CONSUMERS ENERGY COMPANY ANNUAL REPORT
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4 FinancialHighlights 3
+
)
in Afdhems ExcepsasNosed Percent . .
December 31 1997 1996 Change .
Revenue Electric utility $2,515 52,446 2.8 Gas utility 1,204 1,282 (6.1)
Independent power production <ai 700 542 29.2
, Oil and gas exploration and production"" 168 153 9.8 I
Natural ga: transmission, storage and processing => 143 92 55.4 Marketing, services and trading > 892 258 245.7
- International energy distribution <a' 41 23 78.3 Other 9 13 (30.8)
Total'"'# 55,672 $4,809 17.9 r
Consolidated revenue 54,787 $4,333 10.5 Consolidated net income 5 268 5 240 11.7 -
Return on equity (percent) 14.6 15.2 (3.9)
Per common share Net income-basic $ 2.63 $ 2.45 7.3 Net income - diluted S 2.61 5 2.44 7.0 Dividends declared S 1.14 5 1.02 11.8 Book value S t H.73 517.00 10.2 Market value (year end) 544.06 533.63 31.0 ,
takincludes Chis Enegrk sharr ufumenwtulawd unwnw (b)Behnv snwotvmpany rismunatums Prelax OperatingIncome Ahlhons ofIAdlars EJoctric MNty Gas UtlNty Indeper M Oiland Gas NaturalGas Operations OperaNans Power Production Exploration and Transmission, Production Storage and Processing 412 156 158 * '" 33 15) 372 3, 26 ou 30 12 1
N N 01 N N 91 N N 01 N H 07 N 06 07 f
6 LeHer to Shareholders CMS Energyis the oniy major utility to out-he year 199. was another excel-perform the S&P 500 on _L lent one for CMS Energy, both totalreturn during the in terms ofearnings performance and business growth.
last five years.
Net income increased 12 percent to $268 million and earnings per share grew by 7 percent to $2.63, despite adverse weather that affected the company's utility earnings. Earnings growth was propelled by a strong 32 percent increase in operating income from international operations.
As a result of the company's continued strong performance, the CMS Energy common dividend was increased by 11 percent-the fifth consecutive year ofdouble-digit Rught Nmam E NcCormick Jr, ,
cw"reemo mereases.
'de's4TA[I"' The market continued to recognize CMS Energy's superior performance, with the price of the company's stock increasing 31 percent during the year.
Total shareholder return, including dividends, reached 35 percent in 1997.
Over the past five years (1992 through 1997), CMS Energy's growth 2
s 6-Font ConseNdated A'arket Prke Dividende b
Tots!Ceturn AletIncome !\nr Share 9lnr Share 1% em Mellwm ofIMlars kor l'nd 181 5 268 44 / ia 51.14 151 4 2D4 335..
o.lusn as lIlWe .
in stock price and its total return have u u n a a a r
a a n and more than S5 billion ofprojects ,
been more than twice any of the peer- under development.
, group utility indexes and, significantly, In 1997 alone, CMS Energy, along CMS Energy's total return has sub- with its partners:
stantially outperformed the S&P 500.
- Purchased the 2,000 megawatt Loy In fact, CMS Energy is the only major Yang generating plant and coal mine utility to outperform the S&P 500 on from the government ofAustralia's total return during the five-year period. State ofVictoria. At S3.7 billion, it InternationalActivities energy facility in the world.
The growth that CMS Energy has Completed the purchase of the Jorf experienced has been the result of Lasfar electric generating plant in aggressive international m. vestments.
Morocco, and began a major expan-Assets of our international busin esses
. sion which will double its size to have grown to about S3.5 billion of
. 1,360 megawatts.
the company's S10 billion total.
. Advanced new generating plants in CMS Energy now has operatmg assets
. Argentina, India and Jamaica from in 17 countries on five continents, with
. . . construction into operation, sigmficant additional development Began construction of the S750 mil-activities m these and several addi-
. lion Atacama pipeline and power tional countnes.
project that willlink Argentina CMS Energy has become one of the -
and Chile, world's leading energy infrastructure Acquired two electric distribution companies, with the largest indepen- .
systems in Brazil, serving over dent power plants on three continents, 600,000 customers.
pipeline projects on four continents
The company is helping bring competition >
to the utility industry in a manner that protects the interests of both customers andshareholders.
Domestic Utility Operations & Deregulation
- Was awarded the concession to in the United States, our Consumers own and operate a major Turkish electric system. Energy electric and natural gas utilities And already in early 1998, continued to perform at record levels.
CMS Energy: At the electric utility, a number of
- Has amounced a major project in important production milestones, includ-Ghana to partner with the govern. ing the second-best fossil plant ment to privatize and expand a availability and highest-ever nuclear pro-300 megawatt power plant currently duction, were achieved along with a new under construction, as well as con. high for electric service installations. At struct an associated pipeline, the same time, electric and gas utility a lias agreed with its partners to employees turned in the best safety construct, beginning this year, a record in the history of the company, 5300 million methanol project in again winning the National Safety Equatorial Guinea to utilize existing Council first-place award.
natural gas that would otherwise be The Big Rock nuclear plant was suc-flared to the environment. cessfully retired in August after 35
- Has become a 50 percent partner in years as a pioneer in America's nuclear a second power project (200 mega. industry.The plant was the nation's first commercial boiling water reactor watts) now under construction and, at retirement, was the longest-in India.
These projects, as well as a number operating nuclear plant in the United of others under development, suggest States. During the next five years, a that 1998 will be another year of decommissioning team will work to remarkable development and growth. restore the plant site to its natural state.
Equally important, however, were the company's efforts to help restruc-ture Michigan's utility industry so that 4
it is fully competitive. Michigan utility 300,000-20 percent-of our customers regulators in 1997 issued a series of will be able to choose their own natural -
very constructive orders that propose gas supplier. Consumers Energy will a framework for phasing in electric continue to deliver the gas through its customer choice over four years. distribution system.
Importantly, the plan protects share-Summary holderinterests by permitting full .
We are proud of our m. dustry leadership recovery of m. vestments in generatmg .
in the United States and around the world, plants and other facilities that might and we are proud of our 10,000 employ-
otherwise be stranded by deregulation.
ees who have produced our success. We Our regulators have shown sound extend our thanks for their innovation and judgment in forging these plans. a Consumers Energy also is support-We are also grateful to our numerous ing a package of electric restructuring customers, partners, host governments legislation that is being considered by and valued suppliers for their support the Michigan Legislature. This legis-and loyalty, lation would complement and codify Finally, we thank our Board of regulators' proposals, and would per- .
Directors and, especially, Lois Lund, manently protect the delicate balance who retired as Director during 1997, for ,
of shareholder and customer interests.
the.ir wise counsel and strong support.
Meanwhile, customer choice for natural gas customers is accelerating.
In December 1997, Michigan regula-tors gave Consumers Energy approval Ars T%t~ 19 to begin one of the country's largest, William T. McCormick Jr.
most far-reaching experiments with Chainnan andChiefExecutive Oficer customer choice. The program will be March 11,1998 phased in over three years. At its peak, 5
Gas Utility Independent Power Production ,
conneen operatino aman seneranno capacity oversuno n man-Atollume ut skallan %t %Irpomutts hidiums ofikdlan Bdiumn of Cuhu feet 44N I.2K2 3M2 74 0
,g ,
- j : 3,3 w I i ,y i.m }l N- - - - .:,
l
.,1 um.m a s,ta .
- Fifth-largest gas distribution company in U.S.
- Fourth-largest U.S. des cloper and operator ofindependent power projects around the world
- 1.5 million gas customers e lias interests in 34 operating plants totaling 7,400
- 130 billion cubic feet of working gas storage, among the gross megaw atts largei,t in the U.S.
- 2,900 gross megawans under des elopment and in construction
- Michigan's largest gas utility in customers and geographic area
- More than 25,000 miles of intrastate pipelines Pros ides natural gas and related energy services to 44 counties Provides project management, des elopment, engineering, in Michigan's Lower peninsula insestment capital, management and operating services for independent power
- Deliscred 420 bilhon cubic feet of gas
- Added five plants to its portfolio e Added nearly 29,000 new customers
- Hegan 700 megawatt expansion of Jorf Lasfar ( Morocco) plant
- Charged lowest gas costs in Michigan
- Hegan construction of 710 megawatt Atacama(Chile) power project
- Launched two major value-added services
- Acquired power plants in Australia and India e implement pilot program that gives customers choice of supphers
- Commercial contracting of plant capacity in Austraha, Argentina and Chile
- Increase gas throughput by extending gas main into fastest-growing regions
- Complete acquisition and start construction in Ghana, Indonesia, Indir., Brazil and Thailand
- Expand value-added sen ices
- Continue improving operating etliciencies
\
m ovefrom u ~.
7 bitDo frekt offshwe of **^ ,
GX4)0. 86agt!S 13.250 turrets of or)per -
day A seo corttatned Ship Bnctloled at the
$lfVpfXeWS the ori _ g-tdore ott'km$ng for -_
' N tranotufatw W f' l
~ ~
market. S .. ~ m w,nt,rm. ewarees %
put the(Wty coristictent YWLa nata gewating
-~
plant onto ogwatron on 1997.
Electric Utility arv or,anrtus srnrosroes natwo. ,,1 naaman s.,,n wiums a thalan g 37 h 2 446 IM CMS Energyprovides a complete range lllIll u u er musinese etscairriou u a er ofinternationalenergy expertise, ""'*h'8"""""*""*"""r*"""
= 1.6 milhon electric customers including:
- About 7,200 megawatts of gross generating capacity a About 67,000 miles of transmission and
- Distribution of electricity and natural di>tribution lines gas to the homes andbusinesses of eraaatrs 4 million Customers.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,ci,,,,,,,,,s,,,,,,,,
m Michigan's Lower Peninsula e Building and operating electric gener-ating plants and transmission lines, ,,,, ,,,,,,,,, ,,,,,,,,,,
including 14,600pross megawatts of . Sold 38 billion kilowatt-hours of electricity existing generating capacity. j ,
n """'"*"'")
, , l(9 ,,, ,n,, .,,
seconttbest eser
- Exploration, development andproduc- . p,,i,,a,, ,uc ,,,, p,,,, ,,, p,,auc,,,, ,,,,a tion of oil and natural gas, including
- Retired Ilig Rock, the nation's longest-operatmg nuclear plant (barrels of oil equivalent) 11.4 million ,,,, ,,,,,,,
barrelsproduction and 152 million rinalize and implement electric industry restructuring that gis es customers choice of suppliers barre /S of reserves. . Implement generating cost impros ements
" "" " """'" ' ~ ~
- Experience with all fuel types: coal, oil, natural gas, hydroelectric, nuclear and waste.
- Complete fuelhandling, including processing, storage and building and Jperatingpipelines, with nearly 30,000 miles of transmission, gather-ing anddistribution pipelines.
- Providing energy marketing, services and trading, including sales of 243 bil-lion cubic feetofnaturalgas and 900,000 megawatt-hours of electricity.
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'dProcessing L:ergy Marketing, Services and Trading InternationalEnergy Distribution e amna= c.m nearnated o.e contine numa saias oomstar amna* 1%dian Entf Usert Uetlun.e at thdl.nn Monenme ear Ldemnon on Mellum. uf lhallenr. M.II .ms us i un teen 141 .36 sity q i ll dl l :: l I... , . n,.,,,.., , m,um s . . ,e i , ,,. c vs e ,. . , ,, , h sese.saar asf m81useurassiansred scivesar erneuair,J
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, m t.in Lnuoare i W) gas facilities
- More than 1.000 customers, including 30 major gas
- Business segment formed in 1996 tralia and U.S. distnbution companies
- 857,000 customers ral gas in Michigan
- Actses in states. t a c untnes
- Locat,d in Argentina and Brazil
- Energy management and fuel procurement services for individual and commercial customers
- Markets the products of other CMS affiliates iral gas pipelines, and provides Otters packages of total energy solutions, from commodity Distnbutes electricity in Argentina and Brazil ie transportation and storage procurement and risk management. to complete energy management services
- Began selling electricitj in Pennsylvania
- Acquired ownership interest in electric distribution na ( Argentina to Chile)
- Sold 243 billion cubic feet of natural gas and 900,000 systems in Brazil megawatt. hours of electric wholesale power
- With partners, formed the FondElec Essential Services g;,
- Sold 300 energy management services projects Growth Fund L.P. to invest in energy distribution systems
- Acquired ownership interest in Texon LP, rr oil and natural
- Continued operational improvements in electric distnbution mnect to affiliate's gas hquids tradcr company in Argentina
- Ininated about 200 enabling agreements, positioning itself et in Argentina for electric deregulation in the U.S.
'peline in U.S.
- Capitalire on opportunities as various states in U.S. open Continue negotiations to acquire and operate Turkish electric ia ( Argentina to Chile) energy markets to competition distnbution system i
- Acquire equity ownership of coal trading company
- Grow comeany through acquisitions ilant in Equatorial Guinea
- Expand international presence
- Create value through transfer of work practices and technology ge facility in South America The Cuvottpunt a part of Consuces Entwgyt
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porttofto of fossal fuem4
- \ etectnc generatongrunts mMoctugan US.wrich together had the sew &
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[. i Oiland Gas Exploration and Production Cas Transmission, Storage and Processing Energy Marketing, Ser.
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- Among the 30 largest independent oil and pas
- Owns interests in 16 U.S. natural gas facihties
- More than 1.000 cust,mei companies in the U.S.
. Owns pipchnes in Argentina Australia and U.S. distnbution companies
- Michigan's largest independent oil and gas producer
- Processes largest volume of natural gas in Michigan
- Activities in 25 states, thr,
- Operatiom in eight countnes
- Energy management and
- Proved reserves of 152 milhon net equivalent barrels individual and commercia
. Markets the products of of Produces oil and natural pas from nearly 3,500 wells Builds, acquires and operates naiural gas pipelmes. and provides OfTers packages of total ei around the world gas gathering, processing, pipchne transportation and storage procurement and risk mai.
management services Relocated its headquaners to llouston, Texas
- Increased assets by 35 percent
- Began selkng electncny ii
- Signed exclusive oil and gas exploration concession agreement
- llegan construction of the Atacama ( Argentma to Chile)
- Sold 213 billion cubic feci with the government of Cameroon pipehne megawan-hours of electrii a increased reserves by 19 milhon net barrels of oil equivalent
- Acquired pipeline busmess in Australia
- S Id 300 energy managen Began extracting liquid petroleum gas at plant in
- Buildmg pipchne in Tunisia to connect to affiliate's #9 " P "'
Equatorial Guinea pas production 3 d r1
- initiated about 200 enablu
- Contmued TON expansion project in Argentina for electne deregulation n.
Further develop the Alba field in Equatonal Guinea Begm construction of Tristate pipeline in U.S.
- Capitah7e on opportunitic Begm gas production in Tunisia, followulg construction
- Contmue construction of Atacama ( Argentina to Chilel encrpy markets to compet:
ofpipeline pipclme
- Acquire equny ownership Increase production in Ecuador Venezuela ar.d Congo
- Begin construction of methanol plant in Equatorial Guinea . Expand iniernational pres.
- Build first underground pas storape facihty in South America CAG Enegr utarry aric eectric cistst>0" 'i Kierafoons nOn $rve the U $ kpentma and O'st'II. attd the C091tkiny rQ$ brut"' ana&C a O'i E'e gr s Noe'itme a. =
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5 , Y y x hh .... wi I v-. _J : Argentina's largest oil company developing the Tristate Pipeline. Activities in the Republic of to develop South America's first it will provide new natural gas Congo helped to increase produc- . underground gas storage facil- pipeline service from Chicago to tion.The B-14 well, drilled in , ity. It will be capable of storing Ontario, Canada, where it will 1996, began producing in 1997 at 10 billion cubic feet of gas. connect with existing pipelines a rate in excess of 3,000 barrels Gas Transmission and Storage to eastern U.S. markets. per day. And near the already- . also entered the Australian mar- The company and its partners productise Yombo block, another ket in 1997 by acquiring the this year will begin buildmg a successful exploratory well l 260-mile Parmelia Pipeline in S300 million, environmentally brought the promise of addi-l the western part of the country friendly methanol plant in tional oil s olumes. and 30 billion cubic feet of Equatorial Guinea. The plant will in Ecuador, the company's proved gas reserves. The process 100 million cubic feet of government contract was pipeline's transport capacity is natural gas that would otherwise restructured to allow production be flared into the environment. to reach 49,000 barrels per day, w,-,- - ,
"WL -
. a 50 percent improvement over y ;PI M Oiland Gas Exploration 1996. If the government grants =
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t W. ! and Production permission to inercase pipeline Our oil and gas exploration and capacity, that performance production business, CN1S should improve further in 1998. NON1ECO, celebrates its 30th The liquid petroleum gas anniversary this year. extraction plant in Equatorial Operating income in 1997 cus wurco aouea tv ers sam potent,a/ ne a Guinea entered operation last sareuveco,aro nevowe orcmga near reached a record 550 million, year, pmducing 1,800 barrels rv cmm s ensvog orout* despite continuing depressed oil per day. ~ and gas prices. Record produc-120 million cubic feet per day of .;
- tion levels were achieved in natural gas.The purchase 1997, totaling i 1.4 million M. 4 includes natural gas storage. .-
barrels of oil equivalent - a / ~g a , e in the U.S., the company 13 percent increase over 1996. A
- e. ^' t remains a leader in Antrim
- Oil production grew 33 percent d3JS gas processing in nonhern ~7:O to 6.6 million barrels, w hile gas '
Niichigan. ChiS completed its A production declined 8 percent to ~ fifth carbon dioxide extraction 27.2 billion cubic feet. Year-end , plant there, enlarging its pro-proved reserves reached a . cessing capacity by' 27 percent ;g record 152 million barrels of oil to 350 million cubic feet per day. . equivalent. The company plans to expand nematon omeaemenn at tv veneca
#'"*"""""7'"'"'"#""""'""""*""
its Niidwest market area by .
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Electric generating capacity willinclude the largest independentpowerplants on the North American, African and Australian continents. rhe Ecua%ican gowmr entg'antm1 CMS NOWCelentissum to inc'0356 Ollproduct&l by 50twent on 1997 The 67 megawatt Big Rock renovation also has improved plant, a pioneer in America's the performance of the plant's nuclear industry, was retired existing capacity. because its relatively small size in India, we have acquired g made it too expensive to operate an ownership interest in the 200 in a competitive environment. megawatt GMR Vasavi plant At shutdown, the 35-year-old that is expected to be completed plant was the oldest and longest- in early 1999. We also plan to operating nuclear plant in the U.S. double the size of the GVK Employees at our utility plants plant in eastern India. I continue to focus on efliciency improvements that will keep Gas &ansn#ssion,Morage and Processing them competitive in the deregu-CMS' most innovativuonstruc- the region in the last three lated market that is developing in i tion pmject is the S750 million years, and demonstrates the the U.S. Expenditures at fossil , and hydro plants have remained "C P"" C economic vi bility of the plant flat since 1992, while perfor-vnsus compet;ng enngy pm- , tion is being managed by CMS jects in tgie region. mance has continually improved. as Transmission and Storage, The gas transmission and Meanwhile, CMS has 2.900 ill try as nwh as 300 mil- storage business also had a good gross megawatts ofindependent lion cubic feet per day of natural M year in 1997. Pretax operating gas 585 miles over the Andes earnings increased 26 percent to Mountains, from Argentina to $33 million. Chile's copper mining region. In Argentina, more than . Groundbreakingtookplacein 5300 million is being spent to November; completion is expand the TGN pipeline sys-expected in early 1999. tem. Work thus far increases the Erwesattweasaaesuespant,nuwgan. The pipeline will supply system to abou; 3.000 miles, os setsweruudetm recer w peeratsg industrial gas users and power with a contracted capacity of 5xognawatt noo oreec'"* plants, incl'iding a 710 mega- 1.3 billion cubic feet per day. power plants under development Pan of the new expansion will CMS-led consonium on Chile's carry gas to CMS' generating and in construction that will nonhem coast. In early 1998, plant at Mendoza and to the ensure that growth continues. ne f the mid's largest cop- GasAndes pipeline, which trans-The work includes more than P" " "U" IC " doubling the size of our p rts gas to Santiago, Chile. than 20 pucent of the plant's Near the Mendoza plant, Mendoza, Argentina plant to p ty. It is the largest 506 megawatts. A major CMS is partnering with electricity contract awarded in to
ENERGY SUPPLY Substantialgrowth in the energy supply sectorhas propelled the assets of ourinternationalbusi-nesses to more than one-third of CMS Energy's total. rasitna s ceuw van eoretic pneratsry pbnt and CoalmirW Wa5 Vielargest hWimndrntynwrproyn1 nnarummtustory n, MS Energy solidified its Several recently completed inntm*s as ement e global energy leadership plants also began operations. in 1997.The company expanded The 128 megawatt YPF La Plata
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mye a stravsa ws, its net interest in independent plant, southeast of Buenos generating capacity by 110 per- Aires, supplies two oil refiner-cent and started construction of ies, including Argentina's one of the largest new pipeline largest, and sells power to the projects in the world. country's spot market. CMS A CMS-led group acquired also has ownership interests in the 2,000 megawatt Loy Yang the 60 megawatt Jamaica power power plant and coal mine in plant and the 235 megawatt southeastern Australia. It is GVK Industries plant in India. Australia's lowest-cost generating The additional generating facility and its largest producing capacity helped push operating coal mine. income for the independent The company and its partner power business to $96 million in also acquired the 660 megawatt 1997, an increase of 43 percent Jorf Lasfar facility, the first priva- over the previous year. tized power plant in Morocco. CMS Energy's utility plants, Construction already has started all located in the United States, to double the plant's size to performed at an outstanding 1,360 megawatts. level in 1997. Baseload fossil When that expansion is com- plants had an availability rate of pleted, Jorf Lasfar will stand nearly 87 percent, the second-alongside Loy Yang in Australia highest in their history.The and the Midland Copeneration Palisades nuclear plant gener-Venture in the U.S., as the largest ated f,800 gigawatt-hours of independent power plants on electricity,its highest produc-their three continents. tion eve; by over 9 percent. 9
ENERGY DISTRIBUTION ConsumersEnergyhas worked ? hard to positionitself for ; competition from electricity : and naturalgas suppliers. c
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a froits to deregulate the remain regulated. and would EU.S. electric utility indus-continue to be provided by AltialgtlDe stipinnes of , . eectray ano returarp, try took an important leap existing utih, ties, including are twormnp oereguorea forward in 1997, when several Consumers Energy.The plan ,
#* * * * "o'#5 states decided to open their mar- contains a critical provision for Ull!!ff bustles $ Wtf CollVilUe kets to competition. Beginning shareholders. It permits full rivrgy .m continue ro this year, consumers in recovery of past investments Fo* #5'So'" $ $ approved by the Commission in California, Pennsylvania and -
31 mdhon Custonwis Ne.v llampshire will be able to power plants and power supply choose their electricity supplier. contracts that might be stranded Recognizing the inevitability because of deregulation. of customer choice, Consumers Consumers Energy also is Energy has been in the forefront supporting competition-related of proceedings to design a bills that are being considered by competitive system in Michigan the Michigan Legislature.The that balances shareholder and bills would complement and customer interests. Many of our codify the regulatory proposals. ideas are included in a series of Meanwhile, Consumers Gas very constructive Michigan is launching one of the country's Public Ser ice Commission orders largest pilot programs that gives issued in the last nine months. natural gas customers a choice The Commission plan pro- of suppliers. The Commission- ,, vides for a four-year transition approved test will phase in period beginning in 1998. At customer choice over three ,
- the end of this period, all cus- years, ultimately giving 20 per-tomers would be able to choose cent ofour customers the their electricity supplier, freedom to select their natural Delivery of the power would gas supplier. Consumers Energy will continue to deliver gas and charge a transport fee.
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c~ne,u-g, , erpaynes wwudbng. s s _t gruehng hours to awcwy w restore eiecVg servce * ' InterrLptedby 8 mBfor Metugan te storm '_ . While competition will bring during the heating season were maintenance expenses for both dramatic changes, we have been warmer than normal, which gas and electric customers to preparing for them for several reduced gas deliveries to 420 fourth-lowest in the nation, years, so we face the future with billion cubic feet,6 percent The company also is applying confidence. As 1997 demon- below 1996 levels. its expertise to non-traditional strates, Consumers Energy is We continued to increase opportunities. For example, we quickly adapting to the new our customer base during the have contracted with three market with an innovative blend year. We added 29,000 new nat- Michigan cities to read their of core utility services and non- ural gas customers, along the water meters, and we are provid-traditional products. way celebrating the milestone ing billing services fer one of That performance pushed addition of our 1.5 millionth the cities.The company has 1997 operating income for the customer. We also added 23,000 contracted to read 15,000 gas gas and electric utility busi- new electric customers. meters of Michigan Consolidated nesses to $585 million, a To keep pace with this Gas Co. in Greenville. growth, we expanded our gas We also have reached state-
"' wide site-leasing agreements system with 500 miles of new y gas main in 1997. We plan to with two telecommunications install another 530 miles in 1998. firms.The firms provide per-In the process, we improved our sonal communications services 1-Empbrees at te Freedom (Ungessor Statoon and gas main unit cost by 5 percent.
The company's virtual call similar to cellular phones, and will erect towers, mount antennas simriar raaates mrmewt uenigan. v s piar an ""* P"& "
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nwoont ise m Aeemng co t*ve teet or natsraivas it handled a record number of [',"][' '[""", ,#'"
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moving e nomes emesses customer calls during a severe ,,,ceaea,,nyest,,e n ,n,yy,m ,mty,,tga, cy, ton, 3 percent increase over 1996. ice storm. Although the storm The earnings are particularly held southern Michigan captive impressive becarse of the nega- in a sheet ofice for days, down-tive efTect weather had on sales ing trees and power lines and during 1997. Temperatures stranding 270,000 customers from April through October- without electricity, employees w hich includes Michigan's nor- had customers re:onnected mally heavy air conditioning within six days. Despite the dif-season - averaged the coolest ficult working conditions, utility since 1864. Still, electric sales employees had the best safety increased two percent, to a record in their history. record 38 billion kilowatt- Employee innovation hours. Conversely, temperatures helped push 1997 operating and 14
For the 5th straight year - and the 11th in the last 13 - the Nationai Safety Councii named Consumers Energy the safest utility of watch oma distribution its sizein the UnitedStates, twtmvh thatsenes273luO Argentire custoners. based upon Consumers the countries in which it operates,
'. Energy's system, for allocat- and is an important part ofCMS ing capital and maintenance Energy's international expansion.
resources. That growth continued when O.
- Reduced purchased power CMS partnerships acquired
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unit cost by 19 percent. interests in two electric distribu-or string fiber optic cable on com- At the beginning of 1997, tion companies in Brazil.The pany facilities or rights-of-way. CMS introduced an economic operations have a combined CMS Energy had similar suc- development program to help 634,000 customers and 2,310 cess in 1997 with international Entre Rios retain and expand gigawatt-hours of sales.They energy distribution. existing industry, and attract operate in the states of Sergipe, Empresa Distribuidora de new business to the province. Minas Gerais and Rio de Janeiro. Electricidad de Entre Rios, S.A. In the first year, the program has CMS also is part of a consor. (EDEERSA), an electric distri- developed 40 business opportu- tium exclusively negotiating to bution company in the province nities, expected to generate acquire and operate Turkey's of Entre Rios Argentina, com- $20 million of new investment Bursa-Yalova electric distribu-pleted its first full year under in Entre Rios and create or tion system. It distributes 3.3 our ownership with impressive retain 500 jobs. billion kilowatt-hours annually improvements. CMS acquired The Entre Rios program is to 700,000 customers near the company in May of 1996, as based on a highly successful Bursa, about 60 miles south part ofArgentina's program to plan developed by Consumers ofIstanbul. privatize the government-owned Energy to help propel Michigan's energy industry. growth. The plan has proven its \.(( ~ EDEERSA increased sales to value to Michigan for years, . E" M'- 1,039 gigawatt-hours in 1997, making it a key partner with the
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mas * :. serving 223,000 customers in state in developing newjobs. In MNOoN y the province that is located 62 1997, that program helped fx '~a u h . miles northeast of Buenos Aires. Its ratio of customers served per Michigan develop S247 million in new or expanded business, ["i ~." iG' employee dramatically improved from 340 to 435 customers per and created more than 1,600 ghw , newjobs. That growth also will . . employee. generate 55.7 million annually - - In 1997, EDEERSA: in incremental electricity and '
- Reduced power losses by natural gas sales.
7 percent. The economic development ht Empes of Ayntirrs DUO ektx estobutton
- Established a sophisticated program is part ofCMS'corpo- cg, ,,r ;,e tnee us counterwrs - nme cus.
decision analysis system, rate citizenship commitment to romer sewe s tx unty l 15
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