EXHIBIT 99.1
CONSUMERS ENERGY COUNT ON US NEWS RELEASE
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CONSUMERS ENERGY CLOSES SALE
OF MIDLAND COGENERATION VENTURE INTERESTS
JACKSON, Mich., Nov. 21, 2006 -- Consumers Energy, the principal
subsidiary of CMS Energy, closed today the sale of its interests in the
1,500-megawatt Midland Cogeneration Venture to funds managed by GSO Capital
Partners and Rockland Capital Energy Investments for $60.5 million.
Net proceeds from the sale will be used to reduce debt at the
utility.
Consumers Energy owned 49 percent of the MCV Partnership, which
leases and operates the facility near Midland, Michigan. Consumers Energy also
indirectly owned 35 percent of the facility and along with the other owners
leased the facility to the MCV Partnership. GSO and Rockland purchased all of
Consumers Energy's interests.
Consumers Energy is the main customer for the MCV's electricity
output. The utility's contract to purchase power from the plant and the
associated customer rates aren't affected by the sale.
The natural gas-fired MCV facility can produce up to 1,500
megawatts of power and up to 1.35 million pounds of industrial steam per hour.
It began commercial operation in 1990.
Sustained high natural gas prices led the MCV Partnership to
reevaluate the economics of the facility last year, and also led Consumers
Energy to examine several long-term alternatives for its MCV interests.
Consumers Energy, the principal subsidiary of CMS Energy (NYSE:
CMS), provides natural gas and electricity to nearly 6.5 million of Michigan's
10 million residents in all 68 Lower Peninsula counties.
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For more information about Consumers Energy, visit our Website at
www.consumersenergy.com
Media Contacts: Jeff Holyfield, 517/788-2394 or Dan Bishop, 517/788-2395
Investment Analyst Contact: CMS Energy Investor Relations, 517/788-2590