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CONSUMERS POWER REPORTS MPSC APPROVES RATE SETTLEMENTS

 CONSUMERS POWER REPORTS MPSC APPROVES RATE SETTLEMENTS
 JACKSON, Mich., Dec. 19 /PRNewswire/ -- Consumers Power Company


announced today that the Michigan Public Service Commission (MPSC) approved two rate settlements and a procedure for resolving the accounting treatment for post-retirement health care costs.
 The MPSC approved the settlement of the final issues in its electric rate case (U-9346) which will maintain Consumers Power's electric rates at existing levels following the company's decision to reallocate operating costs from corporate overheads to enhanced maintenance of its electric system. The parties to the settlement were the MPSC staff, the Michigan Attorney General, the Association of Businesses Advocating Tariff Equity (ABATE) and Consumers Power.
 The commission also approved a gas rate settlement, agreed to by the company and the MPSC staff, which will continue existing gas retail rates at current levels for one year before the company can file a new gas rate case.
 The MPSC also established a generic proceeding for Michigan utilities to handle the rate and associated accounting treatment of the post-retirement health care liabilities addressed in Financial Accounting Standards Board FASB-106. The schedule is expected to provide for resolution of this matter from a rate and accounting standpoint prior to Jan. 1, 1993, when FASB-106 requires companies to account for this liability.
 Frederick W. Buckman, president of Consumers Power, said that "the company appreciates the expeditious treatment given these important matters by the MPSC.
 Consumers Power Company, the principal subsidiary of CMS Energy Corporation (NYSE: CMS), is Michigan's largest utility and the nation's fourth-largest combination gas and electric utility serving almost 6 million of the state's 9 million residents in 67 of the 68 Lower Peninsula counties.
 -0- 12/19/91
 /CONTACT: Charles E. MacInnis of Consumers Power, 517-788-2396/
 (CMS) CO: Consumers Power Company; CMS Energy Corp.; Michigan Public Service
 Commission ST: Michigan IN: UTI SU:


SM -- DE019 -- 3982 12/19/91 14:18 EST
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Publication:PR Newswire
Date:Dec 19, 1991
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