FIRST CHICAGO NBD CORP
SC 13G/A, 1998-02-04
NATIONAL COMMERCIAL BANKS
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C. 20549

                                 Schedule 13G

                   Under the Securities Exchange Act of 1934
                            (Amendment No. 6     )*

                         Consumers Power Company $7.72
                                   Preferred
                                     Stock
                                   210615605




Check the following box if a fee is being paid with their statement [_]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See rule 13d-7.)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of their cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes.)
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  210615605              13G                    PAGE 2 OF 4 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      First Chicago NBD Corporation 38-1984850*
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            -0-
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          -0-
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             -0-
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          -0-
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      -0-
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      -0-                                                                

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      *Unless otherwise disclosed herein, all holdings of the Reporting Person 
      are indirect through one or more subsidiaries.
      HC CO
- ------------------------------------------------------------------------------

sec 1745(6-80) *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
 
                                                        Page 3 of 4
SEC 13G

SECURITIES AND EXCHANGE COMMISSION

SCHEDULE 13G Amendment No.6

Item 1(a)  Name of Issuer:
           Consumers Power Company

Item 1(b)  Address of Issuer's Principal Executive Offices:
           212 West Michigan Ave
           Jackson, MI 49201

Item 2(a)  Name of Person filing:
           First Chicago NBD Corporation. ("FCN")

Item 2(b)  Address of Principal Business Offices:
           One First National Plaza
           Chicago, Illinois 60670

Item 2(c)  Citizenship
           Delaware
 
Item 2(d)  Title of Class of Securities:
           Preferred Stock

Item 2(e)  CUSIP No.:
           210615605

Item 3     Type of Person Filing:
           (g) FCN is a Parent Holding Company in accordance with 
           240.13d-1(b)(ii)(g).

Item 4     Ownership:
           The shares listed below were held in a fiduciary capacity by one or
           more subsidiaries of First Chicago NBD Corporation as of December 31,
           1997
           A.) Amount Beneficially owned:  -0-
           B.) Percent of Class:  -0-  
           C.) Number of shares to which the subject Holding company has:
               1.) Sole power to vote or direct the vote: -0-  
               2.) Shared power to vote or to direct the vote: -0-  
               3.) Sole power to dispose or to direct the disposition of: -0-
               4.) Shares power to dispose or to direct the disposition of: -0-
<PAGE>
 
                                                      Page 4 of 4


Item 5   Ownership of 5 percent or less of a Class:

         If this statement is being filed to report the fact that as of the date
         hereof the Reporting Person has ceased to be the beneficial owner of
         more than 5 percent of securities, check the following [ X ].

Item 6   Ownership of More than 5 percent on Behalf of Another Person:
         Not Applicable

Item 7   Identification and Classification of the Subsidiary which Acquired the
         Security being Reported on By the Parent Holding Company: See Item 3

Item 8   Identification and Classification of Members of the Group:
         Not Applicable

Item 9   Notice of Dissolution of Group:  Not Applicable

Item 10  Certification: By signing below I certify that to the best of my
         knowledge and belief, the securities referred above were acquired in
         the ordinary course of business and were not acquired for the purpose
         of and do not have the effect of changing or influencing the control of
         the issuer of such securities and were not acquired in connection with
         or as a participant in any transaction having such purpose of effect.

         Signature: After reasonable inquiry and to the best of my knowledge and
         belief, I certify that the information set forth in this statement is
         true, complete and correct.

Dated:   January 30, 1998

                                    /s/ Daniel T. Lis
                                    -----------------
                                    Daniel T. Lis
                                    Assistant Secretary
                                    First Chicago NBD Corporation
                                    (313) 225-3154


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