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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CMS Energy Corporation | NYSE:CMS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.295 | -0.49% | 60.315 | 60.66 | 60.16 | 60.48 | 179,079 | 15:40:28 |
JACKSON, Mich., July 7, 2022 /PRNewswire/ -- Consumers Energy received approval today on a $170 million investment to modernize Michigan's natural gas system, making it even more safe, clean, reliable and affordable for customers.
The investments are part of the company's Natural Gas Delivery Plan, a 10-year, $11 billion blueprint that includes upgrading transmission infrastructure, transforming compression and storage operations and replacing aging distribution pipes.
"This investment directly supports a modern natural gas system by replacing pipes dating to the 1940s to ensure safe delivery of our customers need to heat their homes and businesses," said Chris Fultz, Consumers Energy's vice president of gas operations. "A more reliable system keeps homes cozy in the winter, and puts warm, home cooked meals on the table for Michigan families. These critical upgrades will also help protect the environment by reducing emissions of methane, a greenhouse gas more potent than carbon dioxide."
Major components of Consumers Energy's plan include:
"While prices are increasing due to a variety of global economic factors, Consumers Energy is working to minimize the impact for our customers and Michigan," added Fultz. "We are here for customers with energy efficiency and customer assistance programs to ensure all customers have the energy they need this winter."
Natural gas rates for Consumers Energy customers have not changed since October 2020. With today's ruling, changes to customer bills will take effect in October 2022. In a 12-month period through March 2022, the price Consumers Energy residential customers paid for natural gas was 23% less than the national average.
Consumers Energy, Michigan's largest energy provider, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and/or electricity to 6.8 million of the state's 10 million residents in all 68 Lower Peninsula counties.
For more information about Consumers Energy, go to ConsumersEnergy.com.
Check out Consumers Energy on Social Media
Facebook: https://www.facebook.com/consumersenergymichigan
Twitter: https://twitter.com/consumersenergy
LinkedIn: https://linkedin.com/company/consumersenergy
Instagram: https://www.instagram.com/consumersenergy
View original content to download multimedia:https://www.prnewswire.com/news-releases/consumers-energy-announces-major-new-investment-in-natural-gas-system-improves-reliability-for-customers-301582622.html
SOURCE Consumers Energy
Copyright 2022 PR Newswire
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