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MCN CORPORATION ANNOUNCES RATE INCREASE APPROVAL FOR MICHIGAN CONSOLIDATED GAS COMPANY

 MCN CORPORATION ANNOUNCES RATE INCREASE APPROVAL
 FOR MICHIGAN CONSOLIDATED GAS COMPANY
 DETROIT, Dec. 12 / PRNewswire/ -- MCN Corporation (NYSE: MCN) today announced that on Dec. 5 the Michigan Public Service Commission approved MCN subsidiary Michigan Consolidated Gas Company's (MichCon) request to implement a 1992 rate increase of $4.9 million. The rate increase will take effect Jan. 1, 1992.
 "This rate increase approval demonstrates the effectiveness of the four-year rate agreement MichCon received from the commission in April 1990," noted Alfred R. Glancy III, chairman and chief executive officer of MCN. "Under that agreement, we are able to recover inflation-related annual increases in operation and maintenance cost without going through a protracted regulatory process."
 MCN Corporation is the holding company for Michigan Consolidated Gas Company, a natural gas distribution, transmission and storage company serving more than 1 million customers in 465 communities through Michigan; for Citizens Gas Fuel Company, a Michigan gas utility; and for MCN Investment Corporation which owns subsidiaries in the energy services, computer processing services and natural gas services businesses.
 -0- 12/12/91
 /CONTACT: Sally A. LePla, 313-256-5349 (media), or Sebastian Coppola, 313-256-6324 (analysts), both of MCN Corporation/
 (MCN) CO: MCN Corporation; Michigan Consolidated Gas Company ST: Michigan IN: UTI SU:


SB -- DE013 -- 1920 12/12/91 11:49 EST
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Publication:PR Newswire
Date:Dec 12, 1991
Words:213
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