Consumers Energy Issues Ultimatum on Sale of Hydropower Dams to Confluence Hydro Amid State Regulatory Concerns
Consumers Energy has issued an ultimatum regarding its plan to sell 13 hydropower dams to Confluence Hydro, stating it will decommission the dams if the Michigan Public Service Commission does not approve the sale without conditions. Various groups have urged the commission to reject or impose conditions on the sale, citing risks of transferring the dams to a private entity lacking state oversight.
Consumers projects the sale will save ratepayers $500 million compared to other options, but critics dispute these figures. The commission staff and Attorney General's representatives have suggested conditions to protect ratepayers, but Consumers deems them unreasonable. The sale and potential decommissioning plans require commission approval.
