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MCN SUBSIDIARY RECEIVES $15.7 MILLION RATE INCREASE

 DETROIT, Oct. 29 /PRNewswire/ -- Michigan Consolidated Gas Company (MichCon), principal subsidiary of MCN Corporation (NYSE: MCN), received approval for a $15.7 million rate increase from the Michigan Public Service Commission (MPSC). The new rate increase takes effect in January 1994.
 MichCon initially filed a rate increase request for $121.9 million which the company later revised to $49.2 million after excluding certain construction projects and adjustments to reflect more recent cost estimates. The approved $15.7 million increase reflects the MPSC's projection of MichCon's costs and revenues.
 "Although the amount of the rate increase is lower than our revised request, we are confident that with cost management measures begun earlier this year and gas market expansion, MichCon will have the ability to earn a reasonable return," said Alfred R. Glancy III, MCN chairman, president and chief executive officer.
 MCN Corporation is the holding company for Michigan Consolidated Gas Company, a natural gas distribution, transmission and storage company serving 1.1 million customers in more than 500 communities throughout Michigan; for Citizens Gas Fuel Company, a Michigan natural gas utility; and for MCN Investment Corporation which owns subsidiaries in the gas services, computer operations services and natural gas technology businesses.
 -0- 10/29/93
 /CONTACT: (News Media) Karen Fontanive, 313-256-5093, or (Security Analysts), Sebastian Coppola, 313-256-6324, both of MCN/
 (MCN)


CO: MCN Corporation; Michigan Consolidated Gas Co. ST: Michigan IN: UTI OIL SU:

ML -- DE008 -- 8434 10/29/93 10:43 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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