This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Consumers Energy Announces Plans To Build A Major New Natural Gas Power Plant In Genesee County; Project Investment Estimated At $750 Million With About 600 Jobs Created

JACKSON, Mich., Dec. 14, 2012 /PRNewswire/ -- Consumers Energy announced today that it plans to build a major new natural gas-fired power plant in Genesee County.  The company estimates it will invest about $750 million in the project.

The utility plans to develop a 700 megawatt power plant in Thetford Township, which is about 20 miles northeast of Flint. 

The project is expected to create about 600 construction jobs.  The bulk of the construction jobs are expected to be filled by members of skilled trades unions.  When completed, the proposed power plant also would create an estimated 30 operating jobs.

Consumers Energy owns the 272-acre Thetford Township site, which features access to high-volume natural gas delivery and high-voltage power transmission lines.  The site already is home to nine smaller natural-gas fired combustion turbine units.

The current project schedule calls for construction to begin in 2015 and for the new combined cycle power plant to begin serving Consumers Energy's electric customers in 2017.  At 700 megawatts, the proposed plant would be able to serve a community of about 445,000.

Development of the power plant is contingent upon the company obtaining:
  • An air permit from the Michigan Department of Environmental Quality (MDEQ)
  • A certificate of necessity from the Michigan Public Service Commission (MPSC)
  • Suitable financing

Consumers Energy plans to file an air permit application today with the MDEQ. The application will be for a permit that covers two combined cycle units at the Thetford site, supporting the company's option to develop a second unit at a later date. The MDEQ will set the schedule for its review of the permit application.

The company expects to file a certificate of necessity application with the MPSC in 2013.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs