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Exhibit 99(a)
CONSUMERS ENERGY
NEWS
_________________________________________________________________________
A CMS Energy Company 212 West Michigan AvenueTel: 517 788-0333
Jackson, MI 49201-2277Fax: 517 788-2397
JACKSON, Mich., July 6, 2000 -- Consumers Energy, the principal
subsidiary of CMS Energy Corporation (NYSE:CMS), has filed an application
with the Michigan Public Service Commission (MPSC) to begin the
securitization process for approximately $473 million in qualified costs,
in compliance with the State of Michigan's new electric industry
restructuring law.
Securitization is a common financing technique used in states
which have enacted electric restructuring legislation and typically
involves the issuance of bonds with a credit rating of AAA. MPSC approval
of the application will allow Consumers Energy to offset the earnings
impact of the five percent rate reduction that was implemented for the
utility's 1.5 million residential electric customers in June as required
by the new restructuring law. Approval of the application will not
increase electric rates for any of Consumers Energy's customers.
The application, filed yesterday, requests that the MPSC find
that Consumers Energy's Palisades nuclear plant capital costs (net of
depreciation) and other regulatory assets be identified as "qualified
costs" and therefore eligible for refinancing. According to the new
restructuring law, the MPSC is required to act on the application within
90 days. Consumers Energy anticipates that securitization bonds will be
issued at the earliest by the end of 2000.
Consumers Energy, the principal subsidiary of CMS Energy
Corporation, is Michigan's largest utility providing natural gas and
electricity to more than six million of the state's nine and one-half
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
