This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

State Of Michigan Approves Air Permit For Consumers Energy's Natural Gas Power Plant In Genesee County

Stocks in this article: CMS

JACKSON, Mich., July 26, 2013 /PRNewswire/ -- The Michigan Department of Environmental Quality (MDEQ) has approved an air permit for a natural gas power plant planned by Consumers Energy in Thetford Township in northern Genesee County. 

"We appreciate the Michigan Department of Environmental Quality's thorough review and timely approval of this air permit request," said Tim Sparks, Consumers Energy's vice president for energy supply operations.

Approval of the air permit accomplishes the first major step before Consumers Energy proceeds with the $750 million project.  Additional steps include approval of a certificate of necessity filed July 12 with the Michigan Public Service Commission, and suitable financing. 

The Thetford project is expected to create 600 construction jobs, about 30 operating and support jobs, and ongoing economic benefits for the regional I-75 corridor and Genesee County.  Total direct and indirect benefits tied to the Thetford project is estimated at $320 million for the state and greater Genesee County, according to an independent, third-party economic impact study.

The certificate of necessity filing, allowed for under Michigan's energy reform law, provides Consumers Energy's comprehensive analysis for the 700 megawatt natural gas plant.  The review process for the filing is expected to take nine months.

When operational in 2017, the Thetford plant will produce about 50 percent less carbon emissions than seven older coal plants it will replace. This switch in generation will help Consumers Energy reach its greenhouse gas reduction target of 20 percent by 2025.

Consumers Energy owns the 230-acre Thetford Township site, which features access to high-volume natural gas delivery and high-voltage power transmission lines.  Together, these favorable characteristics make the Thetford site the most valuable low cost option to meet Consumers Energy customers' future energy needs affordably and reliably.

The current project schedule calls for construction to begin in 2014 and for the new combined cycle power plant to begin serving Consumers Energy's electric customers in 2017.  At 700 megawatts, the plant would be able to serve a community   of about 445,000.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs