Replies to post #548710 on Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Swampie-Check out MW price CMS paid here

CMS Energy-CMS to buy 946-megawatt natural gas power plant for $517M
Consumers Energy has signed an agreement to buy a 946 megawatt natural gas=fired power plant to help meet the growing power needs of its customers. The utility reached an agreement with LS Power Group to buy the Zeeland, Mich., plant for about $517 million. Consumers Energy will ask the Michigan Public Service Commission [MPSC] to approve the acquisition. Consumers Energy expects to close the purchase in 2008, subject to MPSC approval and other closing conditions. Consumers Energy's president and chief operating officer, John Russell, said the pending purchase fits in well with the utility's Balanced Energy Initiative, which it filed recently with the MPSC. The Balanced Energy Initiative is Consumers Energy's comprehensive plan to meet the energy needs of its 1.8 million electric customers over the next 20 years. Buying or building a major natural gas-fired power plant is a key part of the Balanced Energy Initiative.