<PAGE>
File No. 69-333
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER
RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935
_____________________________________
TO BE FILED ANNUALLY ON OR BEFORE MARCH 1
_____________________________________
CMS ENERGY CORPORATION
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant
to Rule 2, its statement claiming exemption as a holding company
from the provisions of the Public Utility Holding Company Act of
1935, and submits the following information:
March 1, 1999
<PAGE>
1. Name, state of organization, location and nature of business of
claimant and every subsidiary thereof, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or
indirectly holds an interest.
______________________________________________________
(a) CMS Energy Corporation ("CMS Energy") was duly incorporated
under the laws of the State of Michigan in 1987. CMS Energy is a $5.1
billion (sales) energy company with subsidiaries engaged in electric
utility operations, gas utility operations, oil and gas exploration and
production, the acquisition, development and operation of independent
power production facilities, energy marketing and the transportation,
storage and marketing of natural gas.
CMS Energy has two direct subsidiaries. The name, state of
organization and nature of business of CMS Energy's direct subsidiaries
are described below.
CMS ENTERPRISES COMPANY
A Michigan corporation which owns subsidiaries engaged in the
development, acquisition and management of energy-related businesses
and projects worldwide.
CONSUMERS ENERGY COMPANY
A Michigan corporation engaged in the generation, purchase,
transmission, distribution and sale of electricity, and in the
purchase, storage, transmission, distribution and sale of natural
gas, in the Lower Peninsula of the State of Michigan.
(b) CMS Enterprises Company has 13 direct subsidiaries. The name,
state of organization and nature of business of each subsidiary and
their subsidiaries are described below:
CMS CAPITAL CORP.
A Michigan corporation formed to assist in securing financing
for CMS Energy Corporation and its subsidiaries and affiliates.
CMS Capital Corp. has one subsidiary:
CMS CAPITAL FINANCIAL SERVICES, INC.
A Michigan corporation formed for the purpose of making
loans to parties in connection with the purchase of
goods or services marketed by affiliates of CMS Capital
Financial Services, Inc.
CMS COMERCIALIZADORA DE ENERGIA S.A.(99%)
An Argentine company engaged in gas and electric marketing
operations in Argentina.
CMS ELECTRIC AND GAS COMPANY
A Michigan corporation involved in purchasing, investing and/or
operating international gas and electric distribution systems
worldwide. CMS Electric and Gas Company has 6 subsidiaries:
CMS BRAZIL ENERGIA LTDA.
A Brazilian company involved in investing in gas and electric
distribution systems in Brazil.
- GIPAR, S.A.(49.9%)
CMS DISTRIBUIDORA LTDA.
An Brazilian corporation which has ownership interest in
Companhia Force e Luz Cataguazes - Leopoldina and Coelba
Companhia de Electridade de Bahia.
CMS ENTRE RIOS DISTRIBUTION COMPANY
A Michigan corporation involved in investing in gas and
electric distribution systems in Argentina.
CMS NETHERLANDS FUNDING COMPANY
A Michigan corporation formed as a holding company for
CMS Enterprises' interests in the Netherlands.
- Notera Holding B.V.
- CMS Netherlands Energy Partnership
- Duryal Enerji Dagitim Ltd.
CMS VENEZUELA, S.A.
A Venezuelan company formed for the purpose of holding
interests in ENELMAR, S.A.
- ENELMAR, S.A. (90%)
COMPANIA DE INVERSIONES EN ENERGIA ELECTRICA S.A. (CIEESA)
An Argentine corporation formed as a holding company for
investments in electric distribution systems in Argentina.
- CMS Distribuidora, S.A. (99%)
- Distribuidora de Electricidad S.A. (99%)
- Inversora en Distribucion de Entre Rios S.A. (53.3%)
- Sociedad Inversora en Distribucion de Electricidad
S.A. (60%)
<PAGE>
<PAGE>
CMS ENERGY ASIA PRIVATE LIMITED
A Singapore corporation involved in the development of electrical
generation and distribution opportunities, gas transmission, storage
and distribution opportunities, electrical and gas marketing
opportunities and oil and gas exploration and development
opportunities in Asia and the Pacific Rim.
CMS ENERGY UK LIMITED
An United Kingdom limited liability company involved in the
development of energy-related businesses and projects in Europe,
Africa and the Middle East.
CMS GAS TRANSMISSION AND STORAGE COMPANY
A Michigan corporation organized to engage in the transmission,
storage and processing of natural gas. CMS Gas Transmission and
Storage Company has 19 direct subsidiaries:
AMPCO MARKETING, LLC (50%)
A Michigan limited liability company engaged in marketing
methanol produced by Atlantic Methanol Production Company
LLC in the United States.
AMPCO SERVICES, LLC (50%)
A Michigan limited liability company providing administrative,
employment and technical services to Atlantic Methanol Product-
ion Company LLC.
CHEROKEE GAS PROCESSING, LLC (82% MEMBER)
An Oklahoma limited liability company formed to acquire the
Lucien gathering system located near Enid, Oklahoma.
CMS ANTRIM GAS COMPANY
A Michigan corporation formed to design, construct and operate
the Central Carbon Dioxide Removal Plant in Otsego County,
Michigan.
CMS CONTINENTAL NATURAL GAS, INC.
A Michigan corporation formed to acquire and effect a merger of
Continental Natural Gas, Inc., an Oklahoma corporation involved
in the transmission and distribution of natural gas and has the
following 16 subsidiaries:
- Bradshaw Energy LLC (74%)
- CBC/Leon Limited Partnership (89%)
- Bright Star Partnership (10%)
- Cherokee Gas Processing LLC
- Continental Energy Services, LLC (99%)
- Continental Gas Processing, LLC (99%)
- Continental Holdings Company
- Continental Hydrocarbons, LLC (99%)
- Continental Laverne Gas Processing, LLC (99%)
- Continental Natural Gas Gathering, LLC (99%)
- Continental Spearman Gas Processing, LLC (99%)
- Continental/Oklahoma Natural Gas Gathering, LLC (99%)
- Continental/Taurus Holdings Company, LLC (99%)
- Continental/Taurus Energy Company, LP (99%)
- Heritage Gas Gathering LLC
- Tekas LLC
- Heritage Gas Services LLC
- Hillsboro Gas Gathering System JV (23.7064%)
- Laubhan Friesen Gas Gathering System JV (40%)
- Moody Gas Gathering System JV (57.1632%)
- Warrel Gas Gathering System JV (43.65%)
- Roaring Creek Gas Services LLC
- Leon Limited Partnership I (50%)
CMS GAS ARGENTINA COMPANY
A Cayman Islands company with an equity interest in Transporta-
dora de Gas del Norte S.A., an Argentine company, which
provides natural gas transmission services to the northern
and central parts of Argentina.
- Transportadora de Gas del Norte S.A.(TGN), an Argentine
company (25%).
CMS GRANDS LACS HOLDING COMPANY
A Michigan corporation involved as a General Partner in the
Grands Lacs Limited Partnership, a Michigan limited partner-
ship.
- CMS Jackson Pipeline Company
CMS MARYSVILLE GAS LIQUIDS COMPANY
A Michigan corporation formed to hold interests in Marysville
Fractionation Partnership and in St. Clair Underground Storage
Partnership.
- St. Clair Underground Storage Partnership (49%)
- Marysville Fractionation Partnership (49%)
CMS METHANOL COMPANY
A Cayman Islands corporation formed to hold interest in a
methanol project in Equatorial Guinea.
- Atlantic Methanol Associates LLC (50%)
- Atlantic Methanol Production Company LLC (90%)
CMS SAGINAW BAY COMPANY
A Michigan corporation involved as a General Partner in the
Saginaw Bay Area Limited Partnership, a Michigan limited
partnership.
<PAGE>
<PAGE>
CMS SAGINAW BAY LATERAL COMPANY
A Michigan corporation involved as a Limited Partner in the
Saginaw Bay Lateral Limited Partnership, a Michigan limited
partnership.
FORT UNION GAS GATHERING, LLC (33.33%)
A Delaware corporation involved in the gathering and treating
of natural gas in the states of Colorado and Wyoming.
GRANDS LACS LIMITED PARTNERSHIP
A Michigan limited partnership formed to
plan, develop, finance, construct, expand, own, operate,
maintain and repair the Grands Lacs gas storage facility.
MICHIGAN INTRASTATE LATERAL GENERAL PARTNERSHIP (50%)
A Michigan general partnership acquired as part of the
acquisition of the Spartan Intrastate Pipeline and the
Mackinaw Energy System.
NITROTEC CORPORATION (50%)
A Delaware corporation formed to invest in plants that extract
helium from natural gas.
TRANSPORTADORA DE GAS DEL NORTE S.A.(TGN) (25%)
An Argentine company that provides natural gas transmission
services to the northern and central parts of Argentina and
owns 2,600 miles of natural gas pipeline.
<PAGE>
<PAGE>
TRISTATE PIPELINE, LLC (66-2/3%)
A Michigan limited liability company formed to hold interests
in the TriState Pipeline.
WESTERN AUSTRALIA GAS TRANSMISSION COMPANY I
A Cayman Islands corporation formed to hold interests in a natural
gas pipeline project in Australia and the Atacama Project in Chile
and has the following 3 direct subsidiaries:
- CMS Gas Transmission del Sur Company
- CMS Gas Transmission of Australia Holdings Company
- CMS Gas Transmission of Australia
- Atacama Finance Co.
- Compania de Inversiones CMS Energy Chile Limitada, a
Chilean company (99%)
- Administradora Proyecto Atacama S.A. (40%)
- CMS Servicios de Agua de Chile Compania Limitada
- Gasoducto Atacama Compania Limitada LLP (40%)
- Nor Oeste Pacifico Generacion de Energia Limitada (40%)
- Energex Co.(24%)
- Gasoducto Cuenca Noroeste Limitado LLP (40%)
- Gasoducto Cuenca Noroeste Limitada Argentine
Branch
- CMS International Financial Services Company
- CMS Luxembourg SARL
- Valandrid B.V.
- CMS Goldfields Gas Transmission Australia
Pty. Ltd.
- SCP Investments (No. 1) Pty. Ltd.
- SCP Investments (No. 2) Pty. Ltd.
- Southern Cross Pipelines
Australia Pty. Ltd.(45%)
- Goldfields Gas
Transmission
Joint Venture (62.7%)
- Goldfields Gas
Transmission Pty.
Ltd.
CMS GENERATION CO.
A Michigan corporation engaged in the development of and investment
in cogeneration and other independent power generation projects both
domestic and foreign and has 34 direct subsidiaries:
CMS CENTRALES TERMICAS S.A.(99%)
An Argentine company formed to own an interest in a 240 MW natural
gas/fuel oil-fired electric power plant near Mendoza, Argentina.
CMS GENERATION ALTOONA COMPANY (INACTIVE)
A Michigan corporation involved as a General Partner in the Altoona
Cogeneration Partners Limited Partnership which was formed to
develop, construct, own, operate and maintain a bituminous coal,
bituminous coal waste or other solid fuel-burning facility.
CMS GENERATION CHATEAUGUAY COMPANY
A Michigan corporation involved as a General Partner in KES
Chateauguay, LP, a limited partnership which is involved in the
ownership and operation of a 17 megawatt (net) wood-fired power
plant near Chateauguay, New York.
CMS GENERATION FILER CITY, INC.
A Michigan corporation involved as a General Partner in the T.E.S.
Filer City Station Limited Partnership, a limited partnership which
is the owner of the 54 megawatt (net) wood chip and coal-fired
electric generating station in Filer City, Michigan.
CMS GENERATION FILER CITY OPERATING COMPANY
A Michigan corporation formed to operate a coal and wood waste-
fueled power plant near Filer City, Michigan owned by the T.E.S.
Filer City Station Limited Partnership.
CMS GENERATION GENESEE COMPANY
A Michigan corporation involved as a General Partner in the Genesee
Power Station Limited Partnership which owns and operates a 35
megawatt (net) waste wood-fired electric generating facility
located in Genesee County, Michigan.
CMS GENERATION GRAYLING COMPANY
A Michigan corporation involved as a General Partner in Grayling
Generating Station Limited Partnership which owns a 36 megawatt
(net) waste-wood fueled power plant in Grayling, Michigan.
Grayling Generating Station Limited Partnership owns GGS Holdings
Company, a Michigan corporation, which is General Partner in AJD
Forest Products Limited Partnership that operates a sawmill
adjacent to the Grayling Generating Station and also supplies waste
wood fuel to the project.
CMS GENERATION GRAYLING HOLDINGS COMPANY
A Michigan corporation involved as a Limited Partner in Grayling
Generating Station Limited Partnership.
CMS GENERATION HOLDINGS COMPANY
A Michigan corporation involved as a Limited Partner in various
partnerships and in the following companies:
- Genesee Power Station LP (48.75%)
- GPS Newco, LLC, a Kansas limited liability company (50%
member)
- KES Chateauguay LP (49%)
- Lyonsdale Energy LP (49%)
- McCook Cogeneration Station, LLC, a Michigan limited liability
company (50% member)
- Metro East, LLC, a Michigan limited liability company (50%
member)
- Mon Valley Energy LP (49.5%)(Inactive)
- Moose River Properties, Inc., a Delaware corporation (50%)
- Oxford/CMS Development LP (50%)
CMS GENERATION HONEY LAKE COMPANY
A Michigan corporation with a General Partnership interest and a
Limited Partnership interest in HL Power Company, a California
limited partnership which uses waste wood and geothermal fluid to
generate a 30 megawatt (net) electric generating station in Lassan
County, California. Also involved as General Partner in Honey Lake
Energy I LP, and Honey Lake Energy II LP, both Michigan limited
partnerships formed to own limited partnership interests in HL
Power Company.
CMS GENERATION INVESTMENT COMPANY I
A Cayman Islands company involved as a holding company for
CMS Generation overseas investments and has 17 direct subsidiaries
that engage in the construction, ownership or operation of various
power projects in the Philippines, India, Morocco, Thailand and
Australia:
- CMS Generation Ceara, LLC, a Michigan limited liability
company
- CMS Generation Jegurupadu I Limited Duration Company, a Cayman
Islands company (99%)
- Jegurupadu O&M Company Mauritius, a Mauritius company (50%)
- CMS Generation Jegurupadu II Limited Duration Company, a
Cayman Islands company (99%)
- Jegurupadu O&M Company Mauritius, a Mauritius company
(50%)
- CMS Generation Jorf Lasfar I Limited Duration Company, a
Cayman Islands company (99%)
- Jorf Lasfar I HB (50%)
- Jorf Lasfar Power Energy HB (50%)
- Jorf Lasfar Handelsbolag (50%)
- CMS Generation Jorf Lasfar II Limited Duration Company, a
Cayman Islands company (99%)
- Jorf Lasfar I HB(50%)
- Jorf Lasfar Power Energy HB (50%)
- Jorf Lasfar Handelsbolag (50%)
- CMS Generation Jorf Lasfar III Limited Duration
Company, a Cayman Islands company (50%)
- Jorf Lasfar Operations Handelsbolag
- CMS Generation Loy Yang Holdings 1 Ltd., a Cayman Islands
company
- CMS Generation Loy Yang Holdings 2 Ltd., a Cayman Islands
company
- CMS Generation Neyveli Ltd., a Mauritius company (50%)
- CMS Generation Taweelah Limited, a Cayman Islands company
- Emirates CMS Power Company, a U.A.E. company (40%)
- Energex Co. (16%)
- Energiaktiebolaget CMS, a Swedish Company
- Monetize Limited, a Mauritius company
- National Power Supply Co., Ltd., a Thailand company (50%)
- Secure Wood Chips LP
- Scudder Latin American Power I-P LDC (25%)
- Takoradi International Company, a Cayman Islands
corporation
CMS GENERATION INVESTMENT COMPANY II
A Cayman Islands company engaged as a holding company for 1%
ownership interests in the companies described above as being
owned 99% by CMS Generation Investment Company I, in
addition to the companies listed below:
- CMS Generation Jegurupadu I LDC
- CMS Generation Jegurupadu II LDC
- CMS Generation Jorf Lasfar I LDC
- CMS Generation Jorf Lasfar II LDC
- CMS Generation Neyveli Ltd. (50%)
CMS GENERATION INVESTMENT COMPANY III
A Cayman Islands company engaged to facilitate the
construction, ownership and operation of the GVK Industries
Project in Jegurupadu, Andhra Pradesh, India of a natural
gas/liquid fuel combined cycle plant 235 MW ("GVK") and has
one direct subsidiary with an ownership interest in GVK.
- Jegurupadu CMS Generation Company Ltd., a Mauritius
company
CMS GENERATION LYONSDALE COMPANY
A Michigan corporation involved as a General Partner in the
Lyonsdale Energy Limited Partnership which owns and operates a
19 MW (net) waste wood-fired electric generating facility in
Lyonsdale, New York.
CMS GENERATION MONTREAL COMPANY
A Michigan corporation involved as a General Partner in Secure
Wood Chips LP, a Canadian limited partnership, to own and
operate a waste wood recovery facility in the greater
Montreal, Quebec, Canada area.
- Secure Development Corporation, a Canadian corporation
<PAGE>
<PAGE>
CMS GENERATION MON VALLEY COMPANY
A Michigan corporation involved as General Partner in the Mon
Valley Energy Limited Partnership formed to develop,
construct, finance and operate the Mon Valley Project, an
80 megawatt (net) coal fired cogeneration plant in
Pennsylvania.
CMS GENERATION RECYCLING COMPANY
A Michigan corporation involved as a member of Mid-Michigan
Recycling, LC, a Michigan limited liability company, formed to
supply waste wood fuel for the Genesee Power Station Limited
Partnership.
CMS GENERATION S.A.(99%)
An Argentine company formed to carry out on its own account
or that of third parties investments in energy-related
businesses located primarily in South America.
- Hidroinvest S.A., an Argentine company (25%)
CMS INTERNATIONAL OPERATING COMPANY
A Cayman Islands corporation which owns and controls project
Operating and Maintenance companies.
- CMS Generation Jorf Lasfar III Limited Duration
Company (50%)
- Jorf Lasfar Operations Handelsbolag (99%) (99%)
CMS RIO GRANDE DE SUL LTDA. (99.99%)
A Brazilian company engaged in the development and invest-
ment in electrical generation projects in Brazil.
DEARBORN INDUSTRIAL GENERATION, LLC (70% MEMBER)
A Michigan limited liability company engaged in the
construction of a 700 MW co-generation facility in
Dearborn, Michigan.
EXETER MANAGEMENT COMPANY (50%)
A Connecticut corporation involved as a General Partner in the
Exeter Energy Limited Partnership which owns and operates a 26
megawatt (net) tire-burning facility in Sterling, Connecticut.
HYDRA-CO ENTERPRISES, INC.
A New York corporation engaged in the ownership and/or
operation, by itself or with others, of one or more
cogeneration, small hydro or alternate energy production
facilities through partnership interests and ownership of
domestic corporations. HYDRA-CO Enterprises, Inc. owns 26
subsidiaries that are involved in the development,
ownership, management or operation of independent power
projects located in seven states and in Jamaica:
- Benton Falls Associates (50% GP)
- CMS Generation Stratton Company
- Stratton Energy Associates (20% GP - 15% LP)
- Cogent Little Falls (49.99% GP)
- Copenhagen Associates (49.99% LP)
- Craven County Wood Energy LP (44.99% LP)
- HCE-Appomattox, Inc., a New York corporation
- Appomattox River Associates LP (49% LP)
- HCE-Biopower, Inc., a New York corporation (Inactive)
- HCE-Hudson, Inc., a New York corporation
- Curtis/Palmer Hydroelectric Company LP
(12.5% GP)
- HCE-Imperial Valley, Inc., a New York corporation
- HCE-Jamaica Development, Inc., a New York corporation
- HCE-Lakewood, Inc., a New York corporation
- HCE-Rockfort Diesel, Inc., a New York corporation
- HYDRA-CO Generation, Inc., a New York corporation
(Inactive)
- Hydro Power Associates (49.99% GP)
- Black River Hydro Associates (75% GP)
- Imperial Resource Recovery Associates, LP
(32.69% LP)
- IPP Investment Partnership (49% LP)
- Little Falls Hydropower Associates (33.33% GP)
- Lock 17 Group (33.33% GP)
- Lock 17 Management Group (33.33% GP)
- Lyonsdale Associates (49.99% GP)
- New Bern Energy Recovery, Inc., a Delaware corporation.
- PowerSmith Cogeneration Project, LP (8.75% LP)
- Pyrites Associates (49.99% GP)
- Salt City Energy Venture LP(75% GP - 36.75% LP)
- Windpower Partners 1988 (22.73% LP)
- Windpower Partners 1989 (8.5346% LP)
LUZON POWER ASSOCIATES, INC.
A Philippine corporation formed to construct and operate a 400
MW power project in the Philippines.
MCCOOK COGENERATION STATION, LLC (50% MEMBER)
A Michigan limited liability company formed to develop and own
a 40 megawatt (net) waste wood fueled electric generating
facility located in Cook County, Illinois.
MCCOOK WASTE WOOD RECOVERY FACILITY, LLC (50% MEMBER)
A Michigan limited liability company formed to develop and own
a waste wood recycling and processing facility where waste
wood will be received, manually and mechanically separated
and then recycled or processed for use at McCook
Cogeneration Station, LLC
<PAGE>
<PAGE>
METRO EAST, LLC (50% MEMBER)
A Michigan limited liability company formed to develop and own
a 60 megawatt (net) waste wood and waste coal fueled
electric generating facility located in the City of
Madison, Illinois.
MID-MICHIGAN RECYCLING, LLC
A Michigan limited liability company involved in supplying
waste wood fuel for the Genesee Power Station Limited
Partnership.
OXFORD/CMS DEVELOPMENT LP (50%)
A partnership involved as a (48%) limited partner in Exeter
Energy LP which owns and operates a 31.3 MW tire-fueled co-
generation plant in Sterling, Connecticut.
- Exeter Energy LP (48% LP)
OXFORD TIRE RECYCLING, INC. (INACTIVE)
A Delaware corporation engaged in tire collection,
shredding and storage, the sale of used and shredded tires,
and related business activities.
OXFORD TIRE RECYCLING OF MASSACHUSETTS, INC.
A Delaware corporation engaged in waste tire collection,
shredding and storage, the sale of used and shredded tires,
and related business activities.
OXFORD TIRE SUPPLY, INC.
A Delaware corporation engaged in trucking and hauling used
scrap tires and sorting and grading tires for resale.
SCUDDER LATIN AMERICAN POWER I-C, LDC (25%)
An Investment Fund formed to invest (primarily passive) in
electric generating facilities and the electric
infrastructure in Latin America and the Caribbean.
TAWEELAH A2 OPERATING COMPANY
A Michigan corporation formed to operate the Taweelah A2
electric generating units in Abu Dhabi, United Arab Emirates.
CMS LAKE MUSKEGON COMPANY
A Michigan corporation formed to develop land located in the City of
Muskegon, Michigan.
- Lake Muskegon Community, LLC (25%)
CMS LAND COMPANY
A Michigan corporation formed to act as a repository for any unused
real property formerly owned by Consumers Power and hold the same
for possible non-utility development and has one subsidiary:
BAY HARBOR COMPANY, LLC (50% MEMBER)
A Michigan limited liability company which is the owner and
developer of Bay Harbor, a real estate development.
CMS MARKETING, SERVICES AND TRADING COMPANY
A Michigan corporation involved in providing gas, electric, oil and
coal marketing, risk management and energy management services and
has 5 subsidiaries:
CMS MST ENGINEERING COMPANY
A Michigan corporation formed to provide professional
engineering services which includes system engineering
design and energy consulting.
CMS TEXON COMPANY
A Michigan corporation involved as a general partner in
Texon, LP, a Texas limited partnership engaged in
transporting, processing and marketing of crude oil and
natural gas liquids and services related thereto.
TEXON DISTRIBUTING LP (49%)
A Delaware limited partnership engaged in transporting,
processing and marketing crude oil and natural gas liquids
and services related thereto.
ENLINE ENERGY SOLUTIONS, LLC (50%)
A Texas limited liability company engaged in purchasing,
transporting, storing, selling, brokering and marketing
natural gas, oil, propane and electricity and energy-
related consulting.
PREMSTAR ENERGY CANADA LTD.
A Canadian corporation engaged in purchasing, transporting,
storing, selling, brokering and marketing natural gas in North
America and energy-related consulting.
- Energistics Group, Inc.
CMS OIL AND GAS COMPANY (FORMERLY KNOWN AS CMS NOMECO OIL & GAS CO.)
A Michigan corporation engaged in the exploration, development,
acquisition and production of oil and natural gas in the U.S. and in
foreign countries through partnership interests and ownership of
domestic corporations and foreign companies. CMS Oil and Gas
Company owns 12 direct subsidiaries that are either domestic
corporations or foreign companies:
CMS NOMECO EQUATORIAL GUINEA OIL & GAS CO.
A Michigan corporation engaged in the exploration and
production of oil and natural gas in Equatorial Guinea.
<PAGE>
<PAGE>
CMS NOMECO Holdings Ltd.
A Cayman Islands company engaged as a holding company for 9%
ownership in CMS NOMECO Venezuela LDC and 1% ownership
interests in the Cayman Island limited duration companies
described below as subsidiaries of CMS NOMECO
International, Ltd.
CMS NOMECO INTERNATIONAL, LTD.
A Cayman Islands company engaged as a holding company for 8
subsidiaries that are Cayman Island limited duration
companies that principally engage in the exploration and
production of oil and natural gas in South America and West
Africa:
- CMS NOMECO Alba LDC (99%)
- Punta Europa LLC (36%)
- Alba Associates LLC (40%)
- Alba Plant LLC (80%)
- CMS NOMECO Argentina LDC (99%)
- CMS NOMECO Congo LDC (99%)
- CMS NOMECO EG LDC (99%)
- Punta Europa LLC (25.5%)
- CMS NOMECO Ecuador LDC (99%)
- CMS NOMECO Venezuela LDC (91%)
- CMS NOMECO Congo Ltd.
- CMS NOMECO EG Ltd.
- Alba Equatorial Guinea Partnership LP
CMS NOMECO INTERNATIONAL, INC.
A Texas corporation engaged as a holding company for 7
subsidiaries that engage in the exploration and production
of oil and natural gas in Africa and the Middle East:
- CMS NOMECO Cote D'Ivoire Ltd., a Cayman Islands company
- CMS NOMECO International Cameroon, Inc., a Texas
corporation
- CMS NOMECO International Congo Holdings, Inc., a Texas
corporation
- CMS NOMECO Congo, Inc., a Delaware corporation
- CMS NOMECO International Equatorial Guinea, Inc., a Texas
corporation
- CMS NOMECO International Transportation, Inc., a Texas
Corporation
- CMS NOMECO International Tunisia, Inc., a Texas
Corporation
- El Franig Partnership
- CMS NOMECO Cameroon, Ltd., a Cayman Islands company
CMS NOMECO PERU COMPANY
A Michigan corporation formed to pursue oil and natural gas
exploration and production opportunities in Peru.
CMS NOMECO PIPELINE COMPANY
A Michigan corporation formed to hold ownership interests in
various natural gas pipelines located in Michigan.
CMS NOMECO SERVICES COMPANY
A Michigan corporation formed for the purpose of pursuing oil
marketing opportunities.
EXPLOTACIONES CMS NOMECO, INC.
A Delaware corporation engaged in the exploration and
production of oil and natural gas in Colombia.
NOMECO CHINA OIL CO.
A Michigan corporation formed to pursue oil and natural gas
exploration and production opportunities in China.
NOMECO ECUADOR OIL COMPANY
A Michigan corporation engaged in the exploration and
production of oil and natural gas in Ecuador.
NOMECO THAILAND OIL COMPANY
A Michigan corporation formed to pursue oil and natural gas
exploration and production opportunities in Thailand.
TERRA ENERGY, LTD.
A Michigan corporation engaged in the exploration and
production of natural gas in Michigan. Terra Energy Ltd.
has 13 subsidiaries:
- Eagle Productions, Inc. (20%)
- Energy Acquisition Operating Corporation
- J.R. Productions, Inc. (20%)
- Kristen Corporation
- Newaygo/Oceana Pipeline LP (43.77%)
- Northwest Operations, Inc. (20%)
- Phoenix Operating Company Inc. (40%)
- State 26 Production Co. (20%)
- Terra-Hayes Pipeline General Partnership (26.58%)
- Terra Pipeline Company
- Terra-Westside Processing Co. Partnership (15%)
- Thunderbay Pipeline Company LLC (50%)
- Wellcorps LLC (55%)
CMS RESOURCE DEVELOPMENT COMPANY
A Michigan corporation formed to pursue and develop various power
sources outside the United States.
MONARCH MANAGEMENT COMPANY
A Michigan corporation which houses several investments whose
principal business is the provision of services to energy and other
regulated entities.
(c) The consolidated operations of Consumers Energy Company
("Consumers") account for the major share of CMS Energy's total assets,
revenues and income. Consumers has eight subsidiaries. The name, state
of organization and nature of business of Consumers' subsidiaries are
described below:
CMS ENGINEERING CO.
A Michigan corporation engaged in offering design, engineering,
project management and related construction services to natural gas
utilities, natural gas exploration and production companies, and
other energy businesses.
CMS MIDLAND HOLDINGS COMPANY
A Michigan corporation involved as a Limited Partner in the First
Midland Limited Partnership, a Delaware limited partnership, a
partnership that leases assets to the Midland Cogeneration Venture
Limited Partnership, a Michigan limited partnership.
CMS MIDLAND, INC.
A Michigan corporation engaged as a General Partner in the Midland
Cogeneration Venture Limited Partnership, a Michigan limited
partnership.
CONSUMERS ENERGYGUARD SERVICES, INC.
A Michigan corporation formed for the purpose of marketing
EnergyGuard, a residential bill payment insurance product to
Consumers' residential customers.
ES SERVICES COMPANY
A Michigan corporation formed for the purpose of offering design,
engineering, project management and related services primarily to
electric utilities and generation facilities.
HURON HYDROCARBONS, INC.
A Michigan corporation involved with others to use the expanded
capacity of the underground caverns at the Marysville Gas Reforming
Plant located in Marysville, Michigan for commercial storage of
liquid hydrocarbons and to use certain hydrocarbon fractionation
facilities at the plant.
MEC DEVELOPMENT CORP.
A Michigan corporation which previously held assets transferred to
and holder of certain bonds issued by the Midland Cogeneration
Venture Limited Partnership, a Michigan limited partnership.
MICHIGAN GAS STORAGE COMPANY
A Michigan corporation and a natural gas company within the meaning
of the Natural Gas Act engaged in the interstate transportation and
storage of gas for a number of customers including Consumers.
2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation, transmission
and distribution of electric energy for sale, or for the production,
transmission and distribution of natural or manufactured gas, indicating
the location of principal generating plants, transmission lines, producing
fields, gas manufacturing plants, and electric and gas distribution
facilities, including all such properties which are outside the State in
which claimant and its subsidiaries are organized and all transmission or
pipelines which deliver or receive electric energy or gas at the borders
of such State.
____________________________________________________
(a) Claimant has no directly owned properties used for such
purposes.
(b) Consumers is the only subsidiary of Claimant which is a
public utility. Its property and facilities used for the above-described
purposes are located within the State of Michigan and are described
below.
<PAGE>
<PAGE>
(1) Electric Properties
Consumers' electric generation is supplied by the following
plants:
1998 Summer Net 1998 Net
Demonstrated Generation
Name and Location Capability (Thousands of
(Michigan) (Kilowatts) Kilowatt-hours)
Coal Generation
J H Campbell - West Olive 1,346,100 (A) 8,716,040
D E Karn - Essexville 515,000 2,956,590
B C Cobb - Muskegon 300,000 2,167,278
J R Whiting - Erie 310,000 1,905,584
J C Weadock - Essexville 310,000 2,213,428
--------- ---------
Total 2,781,100 17,958,920
Oil/Gas Generation
D E Karn - Essexville 1,276,000 760,716
Ludington Pumped Storage 954,000 (B) (479,583)(C)
Nuclear Generation
Palisades - South Haven 760,000 5,363,942
Gas/Oil Combustion Turbine
Generation 345,000 60,917
Hydro Generation 73,500 395,250
--------- ----------
Total Owned Generation 6,190,300 24,060,162
========= ==========
(A) Represents Consumers' share of the capacity of the Campbell Plant
Unit 3 net of 6.69% (ownership interests of the Michigan Public
Power Agency and Wolverine Power Supply Cooperative, Inc.).
(B) Represents Consumers' share of the capacity of the Ludington Pumped
Storage Plant. Consumers and The Detroit Edison Company ("Detroit
Edison") have 51% and 49% undivided ownership, respectively, in the
plant, and the capacity of the plant is shared accordingly.
(C) Represents Consumers' share of net pumped storage generation. This
facility electrically pumps water during off-peak hours for storage
to later generate electricity during peak-demand hours.
Electric transmission, subtransmission and distribution lines are
located on or under public highways, streets, alleys or lands, except
where they are located on or under easements or other rights. The
transmission system consists of 4,447 structural miles of overhead
lines. The subtransmission system consists of 4,167 structural miles
and 16 subsurface miles of underground lines. The distribution
system consists of 52,991 structural miles of overhead lines and
6,480 subsurface miles of underground lines.
Consumers owns substations having an aggregate transformer capacity
of 39,022,140 kilovolt amperes.
Consumers is interconnected with certain Michigan and neighboring
utilities. Consumers and Detroit Edison have formed the Michigan
Electric Coordinated Systems ("MECS") to facilitate the coordinated
planning and operation of their electric systems. MECS is
interconnected with electric systems in Indiana, Ohio and Ontario,
Canada.(1)
Consumers owns or connects with electric transmission lines which
deliver electric energy at or near the Michigan state border to:
(i) Indiana & Michigan Electric Company at the following
interconnection points: Palisades-Cook No. 1, Palisades-Cook No. 2,
Argenta-Robinson Park and Argenta-Twin Branch; and
(ii) Northern Indiana Public Service Company at the following
interconnection point: Barton Lake-Batavia.
(2) GAS PROPERTIES
As of December 31, 1998, Consumers' gas properties, all located in
Michigan, included a gas distribution and transmission system, 6
compressor stations located at Consumers' storage fields and along the
gas transportation lines and 11 storage fields.
Consumers' gas distribution and transmission systems consist of
23,392 miles of distribution mains and 1,165 miles of transportation
lines, throughout the Lower Peninsula of Michigan. Consumers owns and
operates 6 compressor stations with a total of 108,680 installed
horsepower.
Michigan Gas Storage Company ("MGSC") owns and operates a gas
transportation system, 2 compressor stations, and 3 storage fields, all
located in Michigan.
_______________________
(1) MECS interconnects with electric systems in Ohio and Ontario, Canada
through Detroit Edison. Detroit Edison interconnects with The Toledo
Edison Company at Majestic-Lemoyne, Monroe-Bayshore and Allen Junction-
Majestic-Monroe. Detroit Edison also interconnects with Ontario Hydro
at Waterman-Keith, Bunce Creek-Scott and two points at St. Clair-
Lambton.
<PAGE>
Consumers receives natural gas for its local distribution system
through interconnection facilities located in Michigan and at the
Michigan State border.
3. The following information for the last calendar year with respect
to claimant and each of its subsidiary public utility companies:
_________________________________________________________
(a) Number of kWh of electric energy sold (at retail or wholesale),
and Mcf of natural or manufactured gas distributed at retail.
Consumers sold 39,747,411,000 KWh of electric energy at retail for
the year ended December 31, 1998 and sold 210,910,112 Mcf of natural gas
at retail during the same period. Claimant, through one of its non-
public utility subsidiaries, sold 38,393,218 MMBtu of natural gas at
retail for the year ended December 31, 1998. Claimant did not sell any
electric energy or manufactured gas at retail.
(b) Number of KWh of electric energy and Mcf of natural or
manufactured gas distributed at retail outside the State of Michigan.
Consumers did not sell any electric energy or natural gas or
manufactured gas at retail outside the State of Michigan. Claimant,
through one of its non-public utility subsidiaries, sold 12,847,017
MMBtu of natural gas at retail outside the State of Michigan. Claimant
did not sell any electric energy or manufactured gas at retail outside
the State of Michigan.
(c) Number of KWh of electric energy and Mcf of natural or
manufactured gas sold at wholesale outside the State of Michigan or at
the State line of Michigan.
Consumers delivered 2,047,809,500 KWh of electric energy across state
lines under interchange power agreements for the year ended December 31,
1998. Consumers did not sell any electric energy or natural gas or
manufactured gas at wholesale outside the State of Michigan. Claimant,
through one of its non-public utility subsidiaries, sold 6,170,563,000
kWh of electric energy and 175,054,856 MMBtu of natural gas at wholesale
outside the State of Michigan. Claimant did not sell any manufactured
gas at wholesale outside the State of Michigan.
(d) Number of KWh of electric energy and Mcf of natural or
manufactured gas purchased outside the State of Michigan or at the State
line of Michigan.
For the year ended December 31, 1998, Consumers purchased
3,889,243,000 KWh of electric energy outside the State of Michigan or at
the State line of Michigan and Consumers purchased 172,550,000 Mcf of
natural gas from outside the State of Michigan. Claimant, through one of
its non-public utility subsidiaries, purchased 6,911,672,000 kWh of
electric energy and purchased 296,838,008 MMBtu of natural gas outside
the State of Michigan. Claimant did not purchase any manufactured gas
outside the State of Michigan.
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States
dollars:
_________________________________________________________
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the
generation, transmission and distribution of electric energy for sale or
for the distribution at retail of natural or manufactured gas.
As of December 31, 1998, CMS Energy had interests in 19 EWGs and 6
foreign utility companies:
CMS Ensenada S.A. ("Ensenada")
Edificio Torre Catalinas Plaza
Ing. Butty 220 8th Floor
(1101) Buenos Aires, Argentina
Ensenada, an Argentine company, is an EWG and is the owner of a 128
MW natural gas-fired power plant, located on the grounds of YPF
S.A.'s La Plata oil refinery, located in the province of Buenos
Aires, Argentina.
CMS Generation Cebu Limited Duration Company ("Cebu")
Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
Cebu, a Cayman Islands company, is an EWG and has ownership
interests in two power plants totaling 134.5 MW generating capacity
located in Toledo City, Cebu, Philippines, in the central island
group of the Republic of the Philippines. The plants can be fueled
by coal, Oil or diesel fuel.
<PAGE>
<PAGE>
CMS Generation Cebu Operating Limited Duration Company
("Cebu Operating")
Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
Cebu Operating, a Cayman Islands company, is an EWG and is the
operator of two power plants totaling 134.5 MW generating capacity,
located in Toledo City, Cebu, Philippines, in the central island
group of the Republic of the Philippines. The plants are owned by
Toledo Power Company.
CMS Generation Horizon Energy Holdings Limited
("CMSG Horizon")
P.O. Box 3001
Ugland House, South Church Street
Grand Cayman, Cayman Islands, British West Indies
CMSG Horizon, a Cayman Islands company, is a foreign utility
company and is part-owner and operator of a 2,000 MW power station
and associated lignite mine located at Loy Yang, Victoria, Australia.
CMS Generation Operating Company
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
CMS Generation Operating Company, a United States company, is an
EWG and is the operator of a 68 MW natural gas-fired peaking facility
located in Comstock, Michigan and a 148 MW natural gas-fired peaking
facility located in Gaylord, Michigan.
CMS Generation Operating Company II, Inc.
("CMSG Operating Company II")
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
CMSG Operating Company II, a United States company, is an EWG and
is the operator of a 237 MW cogeneration facility located in
Lakewood, New Jersey.
CMS Generation Michigan Power LLC
Fairlane Plaza South
330 Town Center Drive
Dearborn, Michigan 48126
CMS Generation Michigan Power LLC, a United States company, is an
EWG and owns a 68 MW natural gas-fired peaking facility located in
Comstock, Michigan and a 148 MW natural gas-fired peaking facility
located in Gaylord, Michigan.
CMS Morocco Operating Company SCA ("CMS Morocco")
BP 99 Sidi Bouzid
El Jadida
Morocco
CMS Morocco, a Moroccan company, is an EWG that operates two
existing 330 MW electric generating plants and will operate two
additional 348 MW electric generating plants to be constructed at the
port of Jorf Lasfar on the Atlantic coast of Morocco.
CMS Operating S.A.
Edificio Torre Catalinas Plaza
Ing. Butty 220, 8th Floor
(1106) Buenos Aires, Argentina
CMS Operating S.A., an Argentine company, is an EWG and has an
ownership interest in and is the operator of Ensenada (see above);
and has an ownership interest in Centrales Termicas Mendoza S.A., an
Argentine company which owns a power generating facility located in
Mendoza, Argentina, which currently generates 532 MW of power and can
be fueled by natural gas, Oil or diesel fuel.
CMS Generation Pinamucan Limited Duration Company ("Pinamucan")
Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
Pinamucan, a Cayman Islands company, is an EWG and has ownership
interests in a 63 MW diesel power plant located in Cavite Export
Processing Zone, Rosario, Cavite, Philippines.
<PAGE>
<PAGE>
CMS Generation Pinamucan Operating Limited Duration Company
("Pinamucan Operating")
Maples and Calder
P.O. Box 309, Grand Cayman
Cayman Islands, British West Indies
Pinamucan Operating, a Cayman Islands company, is an EWG and is the
operator of a 63 MW diesel power plant located in Cavite Export
Processing Zone, Rosario, Cavite, Philippines.8.
Centrales Termicas San Nicolas, S.A. ("CTSN")
Rivadavia S/N
2900 San Nicolas
Prov. Buenos Aires, Argentina
CTSN, an Argentine company, is an EWG and is owner and operator of
a 650 MW power plant located in San Nicolas, Argentina, north of
Buenos Aires, Argentina. The five-unit plant can be fueled by coal,
petroleum coke, Oil or natural gas. CMS Generation holds a 0.016%
indirect ownership interest in CTSN. See CTSN, Section 4(b) and
Exhibit C.
Compania Forca E Luz Cataguazes - Leopoldina
("Cataguazes")
Praca Rui Barbosa, 80, 36770-000
Cataguazes, MG, Brazil
Cataguazes, a Brazilian company, is a foreign utility company and
owns and operates an electric distribution company located in the
Brazilian states of Minas Gerais and Rio de Janeiro, serving
approximately 286,000 customers.
Empresa Distribuidora de Electricidad de Entre Rios S.A.
("EDEER")
25 de Mayo 139 (3100)
Parana, Entre Rios, Argentina
EDEER, an Argentine company, is a foreign utility company and owns
and operates an electric distribution company located North of Buenos
Aires, in the Province of Entre Rios, Argentina, serving
approximately 223,000 customers.
Empresa Energetica de Sergipe S.A. ("Energipe")
Rua Itabaianinha, 66, CEP 49010-190
Aracaju, Sergipe, Brazil
Energipe, a Brazilian company, is a foreign utility company and
owns a concession right for electric distribution in the Brazilian
state of Sergipe which services approximately 371,000 customers.
GMR Vasavi Power Corporation Private Limited
("GMR Vasavi")
25/1, SKIP House
Ground Floor
Museum Road
Bangalore 560 025
India
GMR Vasavi, an Indian company, is an EWG and owns a 200 MW diesel-
fired power plant located in Basin Bridge in Chennai (f.k.a. Madras),
Tamil Nadu, India.
GVK Industries Limited ("GVK")
Road No. 1
Banjara Hills, Hyderabad
India
GVK, an Indian company, is an EWG and is owner of a 235 MW electric
generating plant located in Jegurupadu, Andra Pradesh, India.
Hidroelectrica El Chocon, S.A. ("Hidroelectrica")
8311 Neuquen
Neuquen Province, Argentina
Hidroelectrica, an Argentine company, is an EWG and holds a thirty-
year concession to operate two hydroelectric power plants located 26
kilometers apart on the Limay River in western Argentina. These
plants have a total generating capacity of 1,320 MW.
Horizon Energy Holdings Limited
("Horizon Energy")
P.O. Box 3001
Ugland House, South Church Street
Grand Cayman, Cayman Islands, British West Indies
Horizon Energy, a Cayman Islands company, is a foreign utility
company and is part-owner and operator of a 2,000 MW power station
and associated lignite mine located at Loy Yang, Victoria, Australia.
Jamaica Private Power Company Limited ("Jamaica Private Power")
100 Windward Road,
Kingston 2,
Jamaica, W.I.
Jamaica Private Power, a Jamaican company, is an EWG and is the
owner of a 65 MW electric generating facility in Rockfort, Kingston,
Jamaica.
Private Power Operators Limited ("Private Power")
100 Windward Road
Kingston 2,
Jamaica, W.I.
Private Power, a Jamaican company, is an EWG and is the operator of
a 65 MW electric generating facility in Rockfort, Kingston, Jamaica.
Jegurupadu Operating and Maintenance Company
("Jegurupadu Operating")
F-40, N.D.S.E., Part I
New Delhi 110 149
India
Jegurupadu Operating, a Mauritius company, is an EWG and is the
operator of a 235 MW electric generating plant located in Jegurupadu,
Andra Pradesh, India. The plant is owned by GVK Industries Limited.
Jorf Lasfar Energy Company SCA ("Jorf Lasfar")
BP 99 Sidi Bouzid
El Jadida
Morocco
Jorf Lasfar, a Moroccan company, is an EWG that operates through a
subcontractor, CMS Morocco Operating Company SCA, two existing 330 MW
electric generating plants and will construct and operate through a
different subcontractor two additional 348 MW electric generating
plants located at the port of Jorf Lasfar on the Atlantic coast of
Morocco.
Lakewood Cogeneration, LP ("Lakewood")
123 Energy Way
Lakewood, New Jersey 08701
Lakewood, a Delaware limited partnership, is an EWG and is owner
and operator of a 237 MW Cogeneration facility located in Lakewood,
New Jersey. The two-unit plant can be fueled by natural gas or
household heating oil.
Sistema Electrico Nueva Esparta C.A. ("SENECA")
Centro Comercial El Angel
Local 16 Porlamar (6301)
Isla de Margarita, Venezuela
SENECA, a Venezuelan company, is a foreign utility company and is
the owner of 150 MW of diesel-fired power generation units located on
Margarita Island, Venezuela. SENECA also owns and operates an
electric distribution system located on Margarita Island, Venezuela,
serving approximately 86,300 customers.
(b) Name of each system company that holds an interest in such EWG
or foreign utility company; and description of the interest held.
ENSENADA
CMS Operating S.A. and CMS Generation Holdings Co., own 99% and 1%,
respectively, of Ensenada. See Exhibit C.
CEBU
CMS Generation Investment Company I and CMS Generation Investment
Company II, own 99% and 1%, respectively, of Cebu. See Exhibit C.
CEBU OPERATING
CMS Generation Investment Company I and CMS Generation Investment
Company II, own 99% and 1%, respectively, of CMS Generation Cebu
Operating. See Exhibit C.
CMSG HORIZON
CMS Generation Loy Yang Holdings II, a wholly-owned subsidiary of
CMS Generation Investment Company I, owns 100% of CMSG Horizon. See
Exhibit C.
CMS GENERATION OPERATING COMPANY
CMS Generation Co. owns 100% of CMS Generation Operating Company.
See Exhibit C.
CMSG OPERATING COMPANY II
HYDRA-CO. Enterprises, Inc., owns 100% of CMSG Operating Company II.
See Exhibit C.
CMS GENERATION MICHIGAN POWER LLC
CMS Generation Co. owns 100% of CMS Generation Michigan Power LLC See
Exhibit C.
CMS MOROCCO
Jorf Lasfar Operations Handelsbolag, CMS Generation Investment
Company I, CMS International Operating Company, and CMS Generation
Jorf Lasfar III Limited Duration Company own 99.7%, 0.1%, 0.1%, and
0.1%, respectively, of CMS Morocco. See Exhibit C.
CMS OPERATING S.A.
CMS Generation Co. and CMS Generation Holdings Company, own 99% and
1%, respectively of CMS Operating S.A. See Exhibit C.
PINAMUCAN
CMS Generation Investment Company I and CMS Generation Investment
Company II, own 99% and 1%, respectively, of Pinamucan. See Exhibit
C.
PINAMUCAN OPERATING
CMS Generation Investment Company I and CMS Generation Investment
Company II, own 99% and 1%, respectively, of Pinamucan Operating. See
Exhibit C.
CTSN
In May 1993, Inversora San Nicolas S.A. purchased 88% share in CTSN.
The remaining 12% interest was held by the Argentine government on
behalf of the facility's employees. On July 7, 1995, AES Argentina,
Inc. purchased a 99.9% ownership interest in CMS Generation San
Nicolas Company, represented by 9,990 newly-issued shares, leaving
CMS Generation Co. with a 0.016% indirect ownership interest in CTSN.
See Exhibit C.
CATAGUAZES
CMS Brazil Energia Ltda., a wholly-owned subsidiary of CMS Electric
and Gas, owns 29.5% of Cataguazes. CMS Distribuidora Ltda., a
wholly-owned subsidiary of CMS Electric and Gas, owns 9.87% of
Cataguazes. GIPAR, 49.9% owned by CMS Brazil Energia Ltda., owns
19.51% of Cataguazes. See Exhibit C.
EDEER
Inversora en Distribucion de Entre Rios S.A. owns 90% of the shares
of EDEER. Compania de Inversiones en Energia Electrica, S.A.(CIEESA),
a wholly-owned subsidiary of CMS Electric and Gas, owns 53.5% of the
shares of Inversora en Distribucion de Entre Rios S.A. See Exhibit
C.
ENERGIPE
Energisa, 86.5% owned by Cataguazes and 4.92% owned by
CMS Distribuidora Ltda., owns 84% of Energipe. Cataguazes owns
12.06% of Energipe. See Cataguazes above and Exhibit C.
GMR VASAVI
Monetize Limited, a wholly-owned subsidiary of CMS Generation
Investment Company I, owns 49% of GMR Vasavi. See Exhibit C.
GVK
Jegurupadu CMS Generation Company Limited, owns 18.75% of GVK
Industries. See Exhibit C.
HIDROELECTRICA
CMS Generation Co. owns a 2.48% direct ownership in Hidroelectrica.
Hidroinvest, S.A. owns a 59% ownership interest in Hidroelectrica.
CMS Generation, S.A. has a 25% ownership interest in Hidroinvest,
S.A. See Exhibit C.
HORIZON ENERGY
CMS Generation Loy Yang Holdings I, a wholly-owned subsidiary of
CMS Generation Investment Company I, owns 100% of Horizon Energy.
See Exhibit C.
JAMAICA PRIVATE POWER
HCE Rockfort Diesel, owns 41.2% of Jamaica Private Power. See Exhibit
C.
PRIVATE POWER
HCO-Jamaica, Inc., owns 50% of Private Power. See Exhibit C.
JEGURUPADU OPERATING
Jegurupadu O&M Company, owns 60% of Jegurupadu Operating. See Exhibit
C.
JORF LASFAR
Jorf Lasfar I Handelsbolag, Jorf Lasfar Power Energy Handelsbolag,
and Jorf Lasfar Handelsbolag, own 25%, 23% and 2%, respectively, of
Jorf Lasfar. See Exhibit C.
LAKEWOOD
HCE-Lakewood, Inc. owns 1% interest as a general partner in Lakewood
Cogeneration, LP HYDRA-CO Enterprises, Inc. owns 44% ownership
interest as a limited partner in Lakewood. See Exhibit C.
SENECA
CMS Electric and Gas Company owns 100% of ENELMAR. ENELMAR owns 70%
of SENECA. See Exhibit C.
(c) Type and amount of capital invested, directly or indirectly, by
the holding company claiming exemption; any direct or indirect guarantee
of the security of the EWG or foreign utility company by the holding
company claiming exemption; and any debt or other financial obligation
for which there is recourse, directly or indirectly, to the holding
company claiming exemption or another system company, other than the EWG
or foreign utility company.
ENSENADA
As of December 31, 1998, CMS Operating S.A. had invested
approximately $38 million of equity in Ensenada.
CEBU
As of December 31, 1998, CMS Generation Investment Company I and
CMS Generation Investment Company II had invested approximately $16
million of equity in Cebu.
CEBU OPERATING
As of December 31, 1998, CMS Generation Investment Company I and
CMS Generation Investment Company II had invested approximately $0.7
million of equity in CMS Generation Cebu Operating.
CMSG HORIZON
As of December 31, 1998, CMS Generation Investment Company I had
invested approximately $123 million in CMS Generation Loy Yang
Holdings 2 and advanced approximately $161 million to CMSG Horizon.
CMS GENERATION OPERATING COMPANY
As of December 31, 1998, there were no investments made in
CMS Generation Operating Company.
CMSG OPERATING COMPANY II
As of December 31, 1998, there were no investments made in CMSG
Operating Company II.
CMS GENERATION MICHIGAN POWER LLC
As of December 31, 1998, CMS Generation Co. had invested
approximately $25 million of equity in CMS Generation Michigan Power
LLC
CMS MOROCCO
As of December 31, 1998, Jorf Lasfar Operations Handelsbolag,
CMS Generation Investment Company I, CMS International Operating
Company, and CMS Generation Jorf Lasfar III Limited Duration Company,
had invested approximately $12,000 of equity in CMS Morocco.
CMS OPERATING S.A.
As of December 31, 1998, CMS Generation Co. had invested
approximately $240 million of equity in CMS Operating S.A.
PINAMUCAN
As of December 31, 1998, CMS Generation Investment Company I and
CMS Generation Investment Company II had invested approximately $10
million of equity in CMS Generation Pinamucan.
PINAMUCAN OPERATING
As of December 31, 1998, CMS Generation Investment Company I and
CMS Generation Investment Company II had invested approximately $0.2
million of equity in Pinamucan Operating.
CTSN
As of December 31, 1998, CMS Generation San Nicolas Company had
invested approximately $13 million of equity in CTSN. CMS Energy has
been released from all guarantees related to CTSN.
CATAGUAZES
As of December 31, 1998, CMS Brazil Energia Ltda. had invested $180.7
million and CMS Distribuidora Ltda. had invested $19.4 million in
Cataguazes.
EDEER
As of December 31, 1998, CMSE&G had invested approximately $86
million in equity in EDEER. CIEESA had invested $22 million in
EDEER.
ENERGIPE
As of December 31, 1998, CMS Distribuidora Ltda. had invested $10.1
million in Energisa.
GMR VASAVI
As of December 31, 1998, Monetize Ltd. had invested $11 million in
GMR Vasavi.
GVK
As of December 31, 1998, Jegurupadu CMS Generation Company Limited
had invested $21 million of equity in GVK Industries, directly and
indirectly through Classic Investment I and Classic Investment II.
HIDROELECTRICA
As of December 31, 1998, CMS Generation, S.A. had invested
approximately $51 million of equity in, and advanced approximately
$17 million of loans to, Hidroelectrica. CMS Generation, S.A. was a
co-applicant for certain letters of credit required in connection
with the acquisition of the concession, and CMS Energy has guaranteed
up to approximately $15 million of reimbursement obligations relating
to these letters of credit. CMS Energy has also guaranteed on behalf
of Hidroelectrica approximately $13 million in connection with the
Guaranteed Indebtedness Credit Agreement dated as of December 15,
1993 between Hidroelectrica and The Chase Manhattan Bank.
HORIZON ENERGY
As of December 31, 1998, CMS Generation Investment Company I had
invested approximately $122 million in CMS Generation Loy Yang
Holdings 1 and advanced approximately $160 million to Horizon Energy.
JAMAICA PRIVATE POWER
As of December 31, 1998, HCE Rockfort Diesel, had invested
approximately $16 million in Jamaica Private Power.
PRIVATE POWER
As of December 31, 1998, there were no investments made in Private
Power.
JEGURUPADU OPERATING
As of December 31, 1998, Jegurupadu O&M Company had invested
approximately $0.2 million of equity in Jegurupadu Operating,
directly and indirectly through Classic Investment I and Classic
Investment II.
JORF LASFAR
As of December 31, 1998, Jorf Lasfar I Handelsbolag, Jorf Lasfar
Power Energy Handelsbolag, and Jorf Lasfar Handelsbolag, had invested
approximately $30,000 of equity in Jorf Lasfar.
LAKEWOOD
As of December 31, 1998, HCE-Lakewood, Inc. had invested $510,000 of
equity in Lakewood. HYDRA-CO Enterprises, Inc. had invested
$22,444,000 of equity in Lakewood.
SENECA
As of December 31, 1998, CMS Electric and Gas had invested $56.7
million and ENELMAR had invested $63 million in SENECA.
(d) Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
ENSENADA
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 12
Irrevocable Contributions $ 37,636
Return of Capital $ -0-
Total $ 37,648
Net Income (Loss) for the period
ended 12/31/98 $ (999)
CEBU
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 16,400
Cumulative Translation Adjustment (5,543)
Net Income (Loss) for the
period ended 12/31/98 $ 277
<PAGE>
<PAGE>
CEBU OPERATING
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 510
Cumulative Translation Adjustment $ -0-
Net Income (Loss) for the
period ended 12/31/98 $ 226
CMSG HORIZON
Capitalization at 12/31/98 $ (000s)
Shareholder's Equity $ 123,534
Cumulative Translation Adjustment $ (54,014)
Net Income (Loss) for the
period ended 12/31/98 $ (13,862)
CMS GENERATION OPERATING COMPANY
Capitalization at 12/31/98 $ (000s)
Shareholder's Equity $ 3,537
Net Income (Loss) for the
period ended 12/31/98 $ 224
CMSG OPERATING COMPANY II
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 3,496
Net Income (Loss) for the
period ended 12/31/98 $ 1,040
CMS GENERATION MICHIGAN POWER LLC
Capitalization at 12/31/98 $ (000s)
Shareholder's Equity $ 24,872
Net Income (Loss) for the
period ended 12/31/98 $ -0-
CMS MOROCCO
$ (000s)
Capitalization at 12/31/98
(information received in Moroccan
Dirhams converted at 9.00 dirhams
per US $1.00)
Shareholders' Equity $ 12
Net Income (Loss) for the
period ended 12/31/98 $ 825
CMS OPERATING S.A.
$ (000s)
Capitalization at 12/31/98
Shareholders Equity $ 35,449
Irrevocable Contributions $ 204,872
Total $ 240,321
Net Income (Loss) for the
period ended 12/31/98 $ 278
PINAMUCAN
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 10,323
Net Income (Loss) for the
period ended 12/31/98 $ (1,168)
<PAGE>
<PAGE>
PINAMUCAN OPERATING
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 250
Cumulative Translation Adjustment $ -0-
Net Income (Loss) for the
period ended 12/31/98 $ 106
*CTSN:
$ (000s)
Capitalization at 12/31/98
Bank Loans $
Long Term Debt (Partners Loans) $
Shareholders' Equity $
Total Capitalization $
Net Income (Loss) for the
period ended 12/31/98 $
* As stated in Claimant's Form U-3A-2 filed February 29, 1996, due to the
nominal interest (.016%) of CTSN indirectly owned by CMS Generation Co.,
capitalization and earnings information of CTSN continues to be
unavailable.
CATAGUAZES
Capitalization at 12/31/98 $ (000s)
Stockholder's Equity $ 56,949
Cumulative Translation Adjustment $ (3,767)
Net Income (Loss) for the
period ended 12/31/98 $ (5,150)
EDEER
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 87,412
Net Income for the period
Ended 12/31/98 $ 2,591
ENERGIPE
Capitalization at 12/31/98 $ (000s)
Stockholder's Equity $ 145,419
Cumulative Translation Adjustment $ (9,686)
Net Income (Loss) for the
period ended 12/31/98 $ (1,416)
GMR VASAVI
Capitalization at 12/31/98 $ (000s)
Shareholder's Equity $ 11,000
Net Income (Loss) for the
period ended 12/31/98 $ -0-
GVK
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 73,915
Cumulative Translation Adjustment $ Unknown
*Net Income (Loss) for the
period ended 11/30/98 $ 7,879
*Latest financial information available.
<PAGE>
<PAGE>
HIDROELECTRICA
$ (000s)
Capitalization at 10/31/98
Bank Loans $ 180,000
Shareholders' Equity $ 379,584
Total Capitalization $ 559,584
*Net Income (Loss) for the
period ended 10/31/98 $ 4,796
*Latest financial information available.
HORIZON ENERGY
Capitalization at 12/31/98 $ (000s)
Shareholder's Equity $ 122,001
Cumulative Translation Adjustment $ (53,322)
Net Income (Loss) for the
period ended 12/31/98 $ (13,933)
JAMAICA PRIVATE POWER
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 41,844
Net Income (Loss) for the
period ended 12/31/98 $ 678
PRIVATE POWER
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 10
Net Income (Loss) for the
period ended 12/31/98 $ -0-
JEGURUPADU OPERATING
$ (000s)
Capitalization at 12/31/98 (estimates)
Shareholders' Equity $ 10
Advance on Equity $ 336
Cumulative Translation Adjustment $ Unknown
Net Income (Loss) for the
period ended 12/31/98 (estimate) $ 317
JORF LASFAR
$ (000s)
Capitalization at 12/31/98
Shareholders' Equity $ 60
Long Term Loans $ 770,790
Net Income (Loss) for the
period ended 12/31/98 $ 74,682
LAKEWOOD
$ (000s)
Capitalization at 12/31/98
Bank Loans $ 190,015
Shareholders' Equity $ 41,370
Total Capitalization $ 231,385
Net Income (Loss) for the
period ended 12/31/98 $ 7,529
SENECA
Capitalization at 12/31/98 $ (000s)
Shareholder's Equity $ 56,700
Net Income (Loss) for the
period ended 12/31/98 $ (1,812)
(e) Identify any service, sales or construction contracts(s) between
the EWG or foreign utility company and a system company, and describe
the services to be rendered or goods sold and fees or revenues under
such agreement(s).
As of December 31, 1998, CMS Ensenada S.A. maintains a 7 year
Operating and Maintenance Agreement with CMS Operating S.A. to operate
and maintain the La Plata cogeneration plant. This agreement took effect
in 1997. Total fees earned in 1998 were $455,362.
As of December 31, 1998, Toledo Power Company, owned 47.5% by Cebu,
has an operating agreement, effective January 1, 1996, with
CMS Generation Cebu Operating Limited Duration Company, which is owned
99% by CMS Generation Investment Company I and 1% by CMS Generation
Investment Company II. Total fees earned in 1998 were $476,355.
As of December 31, 1998, Centrales Termicas Mendoza, S.A., has a
Contract of Operation with CMS Operating S.A.. This is a consulting
contract in connection with the operation and maintenance of the
eligible facility. Total fees earned in 1998 were $1,141,715.
As of December 31, 1998, EDEER has a Management, Supervision and
Technical Assistance Contract with CMS Electric and Gas Company. This
is a consulting contract in connection with the operation and
maintenance of the foreign utility. Total fees earned in 1998 were
$1,373,442.
As of December 31, 1998, Lakewood maintains a 21 year Operating and
Maintenance Agreement with CMSG Operating Company II to operate and
maintain the EWG. There is an Administrative and General Agreement
between Lakewood Cogeneration, LP and HYDRA-CO Enterprises which expires
November 2012 to maintain the business administration of the EWG.
Lakewood also maintains a construction contract with Lakewood Project
Management, Inc., a wholly owned subsidiary of HYDRA-CO Enterprises,
Inc., which expires at the end of the warranty phase. Total fees earned
in 1998 were:
Operator Fees $ 412,611
Administrative Fees 328,940
Project Management Fees -0-
-----------
Total Fees $ 741,551
As of December 31, 1998, Magellan Cogeneration, Inc., has an
operating agreement, effective February 4, 1997, with Pinamucan
Operating. Total fees earned in 1998 were $595,763.
As of December 31, 1998, GVK Industries, has a restated 10 year
Operation and Maintenance Agreement with Jegurupadu Operating, effective
on the commercial operation date of the steam turbine unit. Total fees
earned in 1998 were $698,676.
As of December 31, 1998, Jorf Lasfar has an Operating and Maintenance
Agreement with CMS Morocco, effective September 4, 1997. Total fees
earned in 1998 under the Operating and Maintenance Agreement were
$1,268,750. As of December 31, 1998, Jorf Lasfar has a Construction
Management Agreement with CMS Resource Development. Total fees earned
in 1998 under the Construction Management Agreement were $4,800,000.
As of December 31, 1998, Jamaica Private Power has an operating
agreement with Private Power. Total fees earned in 1998 were $134,124.
As of December 31, 1998, total Industry Expertise fee earned by
CMS Generation Horizon Energy Holding from Loy Yang were $9,692,964.
On November 25, 1998, CMS Electric and Gas Company entered into a
Management, Supervision and Technical Assistance Agreement with SENECA
which will become effective on January 1, 1999. As of December 31,
1998, no fees were earned under this agreement.
<PAGE>
<PAGE> 34
The above-named Claimant has caused this statement to be duly
executed on its behalf by its authorized officer on this 26th day of
February, 1999.
CMS ENERGY CORPORATION,
a Michigan corporation
[CORPORATE SEAL] By /s/ Rodger A. Kershner
______________________
Rodger A. Kershner
Senior Vice President and
General Counsel
ATTEST:
/s/ Thomas A. McNish
____________________
Thomas A. McNish
Vice President and Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this Statement should be addressed:
Rodger A. Kershner
Senior Vice President and
General Counsel
CMS Energy Corporation
Fairlane Plaza South
Suite 1100
330 Town Center Drive
Dearborn, Michigan 48126
EXHIBIT A
<TABLE>
A consolidating statement of income and surplus of CMS Energy and
its subsidiary companies for the last calendar year, together with a
consolidating balance sheet of CMS Energy and its subsidiary
companies as of the close of such calendar year is attached.
CMS ENERGY CORPORATION
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions, except Per Share Amounts)
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Operating
Revenue
Electric
utility $ - $2,606 $ - $ - $2,606
Gas utility - 1,051 - - 1,051
Independent
power
production - 50 227 - 277
Oil and gas
exploration
and production - - 79 (16) 63
Natural gas
transmission,
storage and
processing - - 161 (1) 160
Marketing,
services and
trading - - 998 (59) 939
Other - 2 45 (2) 45
------ ------ ------ ------ ------
Total
operating
revenue - 3,709 1,510 (78) 5,141
------ ------ ------ ------ ------
Operating
Expenses
Fuel for
electric
generation - 317 42 - 359
Purchased
power-related
parties - 573 - - 573
Purchased and
interchange
power - 285 299 - 584
Cost of gas sold - 564 723 (75) 1,212
Other operation
expense 4 544 217 (2) 763
Maintenance - 173 3 - 176
Depreciation,
depletion
and amortization 1 403 80 - 484
General taxes - 201 14 - 215
------ ------ ------ ------ ------
Total
operating
expenses 5 3,060 1,378 (77) 4,366
------ ------ ------ ------ ------
Pretax
Operating
Income (Loss) (5) 649 132 (1) 775
------ ------ ------ ------ ------
Other
Income
(Deductions)
Loss on MCV
power
purchases - (37) - - (37)
Dividends
and interest
from affiliates 32 14 3 (49) -
Accretion income - 6 - - 6
Accretion expense - (16) - - (16)
Other, net 394 - 6 (399) 1
------ ------ ------ ------ ------
Total
other
income
(deductions) 426 (33) 9 (448) (46)
------ ------ ------ ------ ------
Fixed Charges
Interest on
long-term debt 157 138 23 - 318
Other interest 12 38 30 (33) 47
Capitalized
interest (8) (1) (20) - (29)
Preferred
dividends - 19 10 (10) 19
Preferred
securities
distributions 14 18 - - 32
------ ------ ------ ------ ------
Net fixed
charges 175 212 43 (43) 387
------ ------ ------ ------ ------
Income (Loss)
Before Income
Taxes 246 404 98 (406) 342
Income Taxes (45) 135 10 - 100
------ ------ ------ ------ ------
Consolidated
Net Income
(Loss) before
Effect of
Change in Acctg.
Principle 291 269 88 (406) 242
Cumulative
Effect of
Change in
Acctg. Prin. - 43 - - 43
------ ------ ------ ------ ------
Consolidated
Net Income
(Loss) before
Common Stock
Dividends 291 312 88 (406) 285
Dividends on
Common Stock 146 242 - (248) 140
------ ------ ------ ------ ------
Consolidated
Net Income
(Loss) after
Common Stock
Dividends $ 145 $ 70 $ 88 $ (158) $ 145
====== ====== ====== ====== ======
Average Number
of CMS Energy
Common Shares
Outstanding 102,446
Basic Earnings
Per CMS Energy
Average Common
Share $ 2.65
Diluted Earnings
Per CMS Energy
Average Common
Share $ 2.62
<FN>
(1) Represents CMS Energy Corporation with Consumers Energy
Company and CMS Enterprises Company included on the equity method of
accounting.
</TABLE>
<TABLE>
CONSUMERS ENERGY COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Energy Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating
Revenue
Electric $2,606 $ - $ - $ - $ - $ - $2,606
Gas 1,047 19 - - - (15) 1,051
Other 3 - - 11 39 (1) 52
------ ------ ------ ------ ------ ------ ------
Total
operating
revenue 3,656 19 - 11 39 (16) 3,709
------ ------ ----- ------ ------ ------ ------
Operating Expenses
Fuel for
electric
generation 317 - - - - - 317
Purchased
power -
related
parties 573 - - - - - 573
Purchased
and
interchange
power 285 - - - - - 285
Cost of gas
sold 579 - - - - (15) 564
Other operation
expense 537 8 - - - (1) 544
Maintenance 169 4 - - - - 173
Depreciation,
depletion
and
amortization 401 1 - - 1 - 403
General taxes 199 2 - - - - 201
------ ------ ------ ------ ------ ------ ------
Total
operating
expenses 3,060 15 - - 1 (16) 3,060
------ ------ ------ ------ ------ ------ ------
Pretax
Operating
Income 596 4 - 11 38 - 649
------ ------ ------ ------ ------ ----- ------
Other
Income
(Deductions)
Loss on MCV
power
purchases (37) - - - - - (37)
Dividends
and
interest
from
affiliates 32 1 - - 1 (20) 14
Accretion
income 6 - - - - - 6
Accretion
expense (16) - - - - - (16)
Other, net 37 - - - - (37) -
------ ------ ------ ------ ------ ----- -----
Total other
income
(deductions) 22 1 - - 1 (57) (33)
------ ------ ------ ------ ------ ------ ------
Interest
Charges
Interest on
long-term
debt 136 2 - - - - 138
Other interest 58 - - - - (20) 38
Capitalized
interest (1) - - - - - (1)
----- ----- ------ ------ ------ ---- -----
Net interest
charges 193 2 - - - (20) 175
------ ------ ------ ------ ------ ------ ------
Income (Loss)
Before
Income Taxes 425 3 - 11 39 (37) 441
Income Taxes 119 1 (1) 2 14 - 135
------ ------ ------ ------ ------ ------ ------
Net Income
(Loss) before
Effect of
Change
in Acctg.
Prin. 306 2 1 9 25 (37) 306
Cumulative
Effect of
Change
in Acctg.
Prin. 43 - - - - - 43
------ ------ ------ ------ ------ ----- ------
Net Income
(Loss) 349 2 1 9 25 (37) 349
Preferred
Stock
Dividends 19 - - - - - 19
Preferred
Securities
Distribution 18 - - - - - 18
------ ------ ------ ------ ------ ---- ------
Net Income
(Loss)
Available
to Common
Stockholder 312 2 1 9 25 (37) 312
Dividends
on Common
Stock 242 - - - - - 242
------ ------ ------ ------ ------ ----- -----
Net Income
(Loss)
After
Common
Dividends$ 70 $ 2 $ 1 $ 9 $ 25 $ (37) $ 70
====== ====== ====== ====== ====== ===== =====
<FN>
(2) Represents Consumers Energy Company, CMS Engineering Company,
ES Services Company and Consumers EnergyGuard Services, Inc. consolidated
with Michigan Gas Storage Company, CMS Midland Holdings Company, CMS
Midland, Inc. and Huron Hydrocarbons, Inc. included on the equity method of
accounting.
</TABLE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
CMS CMS CMS Gas
CMS Oil and Generation CMS CMS CMS Trans. &
Enterprises Gas Co. Co. Capital Land MS & T Stor. Co.
Company(3) Consol. Consol. Corp. Company Company Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating
Revenue
Oil and
gas
explora-
tion
and
product-
ion $ - $ 127 $ - $ - $ - $ - $ -
Indepen-
dent
power
product-
ion - - 227 - - - -
Natural gas
transmission,
storage and
processing - - - - - - 161
Marketing,
services
and trading 1,007
Other - - - 7 8 - -
------ ------ ------ ------ ------ ------ ------
Total
operating
revenue - 127 227 7 8 1,007 161
------ ----- ------ ------ ------ ------ ------
Operating
Expenses
Fuel for
electric
generation - - 42 - - - -
Purchased
and
interchange
power - - - - - 287 -
Cost of
gas sold - - - - - 695 85
Other operation
expense 5 76 68 - - 18 26
Maintenance - 2 - - - - 1
Depreciation,
depletion
and
amortization - 38 21 - - 2 14
General
taxes 1 5 1 - - 1 2
------ ------ ----- ------ ------ ----- ------
Total
operating
expenses 6 121 132 - - 1,003 128
------ ------ ------ ------ ------ ------ ------
Pretax
Operating
Income
(Loss) (6) 6 95 7 8 4 33
------ ------ ----- ------ ------ ----- ------
Other
Income
(Deductions)
Dividends and
interest
from
affiliates 4 - 2 17 - - 1
Other,
net 101 2 1 1 - - 2
------ ------ ----- ------ ----- ----- ------
Total other
income
(deduct-
ions) 105 2 3 18 - - 3
------ ------ ----- ----- ----- ----- ------
Fixed Charges
Interest
on long-
term debt - 12 7 - - - 4
Other
interest 5 4 20 19 - 1 2
Capitalized
interest (1) - (14) - - - (5)
Preferred
dividends 10 - - - - - -
------ ------ -------- -------- ------ ----- ------
Net fixed
charges 14 16 13 19 - 1 1
------ ------ ------- ------- ------ ----- ------
Income
(Loss)
Before
Income
Taxes 85 (8) 85 6 8 3 35
------ ------ ------ ------ ------ ----- ------
Income
Taxes (3) (14) 11 2 3 1 13
------ ------ ----- ---- ----- ----- ------
Net
Income
(Loss) $ 88 $ 6 $ 74 $ 4 $ 5 $ 2 $ 22
====== ====== ===== ===== ==== ===== ======
<FN>
</TABLE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS Inter- CMS
Electric company Enterprises
& Gas Elimina- Company
Company tions Consol.
<S> <C> <C> <C>
Operating Revenue
Oil and gas
exploration
and production $ - $ (48) $ 79
Independent power
production - - 227
Natural gas
transmission,
storage and
processing - - 161
Marketing, services
and trading - (9) 998
Other 30 - 45
----- ----- ------
Total operating
revenue 30 (57) 1,510
----- ----- -------
Operating Expenses
Fuel for electric
generation - - 42
Purchased and
interchange power 12 - 299
Cost of gas sold - (57) 723
Other operation expense 24 - 217
Maintenance - - 3
Depreciation, depletion
and amortization 5 - 80
General taxes 4 - 14
----- ---- -------
Total operating
expenses 45 (57) 1,378
----- ----- ------
Pretax Operating
Income (Loss) (15) - 132
------ ----- ------
Other Income (Deductions)
Dividends and
interest from
affiliates - (21) 3
Other, net - (101) 6
----- ------ ------
Total other income
(deductions) - (122) 9
----- ------- -----
Fixed Charges
Interest on
long-term debt - - 23
Other interest 1 (22) 30
Capitalized interest - - (20)
Preferred dividends - - 10
------ ----- -------
Net fixed charges 1 (22) 43
------ ----- --------
Income (Loss)
Before Income Taxes (16) (100) 98
------ ----- -------
Income Taxes (3) - 10
------ ----- -------
Net Income (Loss) $ (13) $ (100) $ 88
====== ======= ========
<FN>
(3) Represents CMS Enterprises Company, CMS Capital
Financial Services, Inc., CMS Lake Muskegon Company,
Monarch Management Corporation and CMS Resource Development
Company consolidated with CMS Oil and Gas Company, CMS
Generation Company, CMS Land Company, CMS Marketing,
Services and Trading Company, CMS Gas Transmission and
Storage Company, CMS Electric and Gas Company and CMS
Capital Corporation included on the equity method of
accounting.
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
CMS NOMECO
CMS CMS Equatorial
CMS
CMS NOMECO NOMECO Terra Guinea CMS NOMECO NOMECO
Oil and Gas Alba International Energy, Oil & Gas Venezuela Congo
Company(4) LDC Inc.Consol. Ltd. Co. LDC Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating
Revenue
Oil and
gas
explora-
tion
and
product-
ion $ 50 $ 1 $ 19 $ 13 $ 2 $ 13 $ 2
Other - - - - - - -
------ ---- ---- ----- ---- ------ ----
Total
operating
revenue 50 1 19 13 2 13 2
------ ---- ---- ----- ---- ------ ----
Operating
Expenses
Other
operation
expenses 38 - 18 3 1 6 1
Maintenance 1 - 1 - - - -
Depreciation,
depletion
and
amortiza-
tion 14 1 4 5 - 6 -
General
taxes 3 - - 1 - 1 -
----- ----- --- ----- ---- ---- ----
Total
operating
expenses 56 1 23 9 1 13 1
----- ----- ---- ----- ---- ----- -----
Pretax
Operating
Income (6) - (4) 4 1 - 1
------ ----- ---- ------ ---- ----- -----
Other
Income
(Deductions)
Interest
from
affiliates 2 - - 1 - - -
Other,
net 5 1 - 1 - - -
------- ----- ----- ------- ---- ------ -----
Total
other
income
(deduct-
ions) 7 1 - 2 - - -
----- ----- ----- ------- ----- ------ -----
Fixed
Charges
Interest
on long-
term debt 11 1 - - - - -
Other
interest 6 - - - - - -
------ ---- ----- ------- ----- ------ -----
Net fixed
charges 17 1 - - - - -
------ ----- ---- ------- ----- ------ -----
Income
(Loss)
Before
Income
Taxes (16) - (4) 6 1 - 1
------ ----- ----- ------- ----- ------ -----
Income
Taxes (22) - 3 - 1 - -
------ ----- ---- ------- ----- ------ -----
Net
Income
(Loss )$ 6 $ - $ (7) $ 6 $ - $ - $ 1
====== ===== ===== ======= ===== ====== =====
<FN>
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS NOMECO CMS Explota- CMS Inter- CMS
Inter- NOMECO ciones NOMECO company Oil and Gas
national Ecuador CMS NOMECO E.G. Elimina- Company
Ltd. LDC Inc. Ltd. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas
exploration
and production $ - $ 16 $ 4 $ 7 $ - $ 127
Other - - - - - -
---- ------ ----- ------ ----- ------
Total operating
revenue - 16 4 7 - 127
---- ------ ----- ------ ----- ------
Operating Expenses
Other operation
expense - 5 2 2 - 76
Maintenance - - - - - 2
Depreciation,
depletion
and amortization - 6 2 - - 38
General taxes - - - - - 5
----- ----- ----- ----- ----- ------
Total operating
expenses - 11 4 2 - 121
----- ----- ----- ----- ----- ------
Pretax Operating
Income - 5 - 5 - 6
----- ------ ------ ----- ----- ------
Other Income (Deductions)
Interest from
affiliates - - - - (12) 2
Other, net 7 - - - (12) 2
------ ------ ------ ------ ----- ------
Total other
income
(deductions) 7 - - - (15) 2
------ ------ ------ ------ ----- ------
Fixed Charges
Interest on
long-term debt - - - - - 12
Other interest 1 - - - (3) 4
------- ------ ------ ------ ----- ------
Net fixed
charges 1 - - - (3) 16
------- ------ ------ ------ ----- ------
Income (Loss)
Before Income
Taxes 6 5 - 5 (12) (8)
------- ------- ------ ------ ----- -----
Income Taxes - 2 - 2 - (14)
------- ------- ------ ------ ----- -----
Net Income
(Loss) $ 6 $ 3 $ - $ 3 $ (12) $ 6
======= ======= ====== ====== ===== =====
<FN>
(4) Represents CMS Oil and Gas Company, NOMECO China Oil Co.,
NOMECO Thailand Oil Company, CMS NOMECO Pipeline Company, CMS NOMECO EG LDC and
CMS NOMECO Holdings Ltd. consolidated with CMS NOMECO International, Inc.
included on the equity method of accounting.
</TABLE>
<TABLE>
CMS OIL AND GAS INTERNATIONAL, INC.
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
CMS CMS NOMECO CMS CMS NOMECO CMS NOMECO Inter- CMS
NOMECO Inter- NOMECO Int'l Int'l. Company NOMECO
Inter- national Inter.Eq. Cote D'Ivoire Tunisia, Elimina- Inter.,
national Congo, Guinea, Inc. Inc. tions Inc.
Inc.(5) Inc. Inc. Consol.
<S><C> <C> <C> <C> <C> <C> <C>
Operating
Revenue
Oil and
gas
exploration
and
production $ - $ 15 $ 2 $ - $ 2 $ - $ 19
Other - - - - - - -
--- ---- ----- ---- ---- ---- -----
Total
operating
revenue - 15 2 - 2 - 19
---- ----- ----- ---- ---- ---- -----
Operating
Expenses
Other
operation
expense - 12 1 4 1 - 18
Maintenance - 1 - - - - 1
Depreciation,
depletion
and
amortization - 3 - - 1 - 4
General
taxes - - - - - - -
----- ---- ---- ----- ----- ----- -----
Total
operating
expenses - 16 1 4 2 - 23
----- ----- ---- ----- ----- ----- -----
Pretax
Operating
Income
(Loss) - (1) 1 (4) - - (4)
------ ----- ---- ----- ----- ----- -----
Other
Income
(Deductions) (4) - - - - 4 -
------ ----- ------ ----- ----- ----- -----
Fixed Charges
Interest on
long-term
debt - - - - - - -
Other
interest - - - - - - -
------ ----- ----- ----- ---- ----- -----
Net fixed
charges - - - - - - -
------ ----- ----- ----- ---- ---- -----
Income (Loss)
Before
Income
Taxes (4) (1) 1 (4) - 4 (4)
------ ---- ---- ----- ---- ---- ------
Income
Taxes 3 - - - - - 3
------ ----- ---- ----- ---- ---- ------
Net Income
(Loss) $ (7) $ (1) $ 1 $ (4) $ - $ 4 $ (7)
====== ===== ===== ==== ==== ==== ======
<FN>
(5) Represents CMS NOMECO International, Inc. and CMS NOMECO
International Transportation, Inc. consolidated.
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
CMSG CMSG HYDRA-CO CMSG CMS Jorf
CMS Honey Filer Enter- Grayling Int'l Lasfar
Generation Lake City prises, Holdings Operating Operations
Co.(6) Company Inc. Consol. Company Company Handelsb.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent
power
production $ 3 $ 9 $ 3 $ 44 $ 2 $ - $ -
Other - - - - - - -
------ ------ ----- ------ ------ ----- -----
Total
operating
revenue 3 9 3 44 2 - -
------ ------ ----- ------ ------ ----- -----
Operating Expenses
Fuel for
electric
generation - - - - - - -
Other
operation
expense 34 - - - - - -
Depreciation,
depletion
and
amortization 3 - - 5 - - -
General taxes 1 - - - - - -
----- ----- ---- ----- ----- ----- -----
Total
operating
expenses 38 - - 5 - - -
----- ----- ---- ----- ----- ----- -----
Pretax
Operating
Income
(Loss) (35) 9 3 39 2 - -
----- ----- ---- ----- ----- ----- -----
Other Income
(Deductions)
Interest
from
affiliates 2 - - - - - -
Other,
net 104 - - 1 - 2 2
----- ----- ----- ----- ----- ---- -----
Total
other
income
(deductions) 106 - - 1 - 2 2
----- ------ ----- ----- ----- ---- -----
Fixed Charges
Interest
on
long-term
debt 1 - - - - - -
Other
interest 17 - - 2 - - -
Capitalized
interest (14) - - - - - -
------ ------ ---- ----- ----- ---- ----
Fixed charges 4 - - 2 - - -
------ ------ ---- ----- ----- ---- ----
Income
(Loss)
Before
Income
Taxes 67 9 3 38 2 2 2
------ ------ ---- ----- ----- ---- ----
Income
Taxes (8) 3 1 16 1 - -
------ ------ ---- ----- ----- ---- ----
Net Income
(Loss) $ 75 $ 6 $ 2 $ 22 $ 1 $ 2 $ 2
====== ====== ==== ===== ===== ==== ====
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Mid- CMSG CMS Jeguru-
CMSG CMS Michigan Inv. Co. Morocco padu
Holding Generation CTM Recycling I/II Operating CMSG
Company S.A. Consol. L.L.C. Consol. Co.SCA Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating
Revenue
Independent
power
production $ 15 $ (1) $ 91 $ 3 $ 62 $ 3 $ 3
Other - - - - - - -
---- ---- ----- ------ ------ ------ ----
Total
operating
revenue 15 (1) 91 3 62 3 3
---- ---- ----- ------ ------ ------ ----
Operating Expenses
Fuel for
electric
generation - - 42 - - - -
Other
operation
expense - - 28 3 13 - -
Depreciation,
depletion
and
amortiz-
ation - - 12 - 1 - -
General
taxes - - - - - - -
------ ----- ------ ----- ----- ----- ----
Total
operating
expenses - - 82 3 14 - -
------ ----- ------ ----- ----- ----- ----
Pretax
Operating
Income (Loss) 15 (1) 9 - 48 3 3
------ ----- ------ ----- ----- ----- ----
Other
Income
(Deductions)
Interest
from
affiliates 2 - - - - - -
Other, net - - - - - - -
------ ----- ------ ----- ----- ----- ----
Total
other
income
(deduct-
ions) 2 - - - - - -
------ ----- ------ ----- ----- ----- ----
Fixed Charges
Interest
on long-
term debt - - 6 - - - -
Other
interest 1 - 2 - 3 - -
Capitalized
interest - - - - - - -
------ ----- ------ ----- ---- ----- ----
Net
fixed
charges 1 - 8 - 3 - -
------ ----- ------ ----- ---- ----- ----
Income
(Loss)
Before
Income
Taxes 16 (1) 1 - 45 3 3
------ ----- ------ ----- ---- ----- ----
Income Taxes 6 - 1 - (12) 1 -
------ ----- ------ ----- ---- ----- ----
Net Income
(Loss) $ 10 $ (1) $ - $ - $ 57 $ 2 $ 3
====== ===== ====== ===== ==== ===== ====
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
CMSG CMSG company Generation
Inv. Co. Altoona Elimina- Company
III Company tions Consol.
<S> <C> <C> <C> <C>
Operating Revenue
Independent power production $ - $ - $ (10) $ 227
Other - - - -
------ ------ ------ ------
Total operating revenue - - (10) 227
------ ------ ------ ------
Operating Expenses
Fuel for electric generation - - - 42
Other operation expense - - (10) 68
Depreciation, depletion
and amortization - - - 21
General taxes - - - 1
------ ------ ------ ------
Total operating expenses - - (10) 132
------ ------ ------ ------
Pretax Operating Income (Loss) - - - 95
------ ------ ------ ------
Other Income (Deductions)
Interest from affiliates - 3 (5) 2
Other, net 3 - (111) 1
------ ------ ------ ------
3 3 (116) 3
------ ------ ------ ------
Fixed Charges
Interest on long-term debt - - - 7
Other interest - - (5) 20
Capitalized Interest - - - (14)
------ ------ ------ ------
Net fixed charges - - (5) 13
------ ------ ------ ------
Income (Loss) Before Income Taxes 3 3 (111) 85
------ ------ ------ ------
Income Taxes 1 1 - 11
------ ------ ------ ------
Net Income (Loss) $ 2 $ 2 $ (111) $ 74
====== ====== ====== ======
<FN>
(6) Represents CMS Generation Company, CMSG Filer City Operating
Company, CMSG Grayling Company, CMSG Genesee Company, CMSG Recycling Company,
CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG Mon Valley Company, CMSG
Operating Company, Oxford Tire Supply, Inc., OTR of Massachusetts, Inc., CMSG
Jorf Lasfar III LDC and CMSG Montreal Company consolidated with HYDRA-CO
Enterprises, Inc., CMS Centrales Termicas S.A., CMSG Investment Company I and
CMSG Investment Company II included on the equity method of accounting.
</TABLE>
<TABLE>
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
HYDRA-CO CMS Inter- HYDRO-CO
Enter- Generation HCE CMSG Lakewood company Enter-
prises, Oper.Co. Hudson, Stratton Cogen. Elimina- prises
Inc.(7) II Inc. Co. L.P. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent
power
production $ 17 $ 2 $ 2 $ 21 $ 2 $ - $ 44
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total
operating
revenue 17 2 2 21 2 - 44
------ ------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for
electric
generation - - - - - - -
Other
operation
expense - - - - - - -
Depreciation,
depletion
and amortiza-
tion 5 - - - - - 5
General taxes - - - - - - -
------ ----- ----- ---- ---- ----- -----
Total
operating
expenses 5 - - - - - 5
------ ------ ----- ---- ---- ----- -----
Pretax
Operating
Income 12 2 2 21 2 - 39
------ ------ ----- ----- ---- ----- -----
Other
Income
(Deductions) 16 - - 1 - (16) 1
------ ------ ----- ----- ---- ----- -----
Fixed Charges
Interest
on long-
term debt - - - - - - -
Other interest 1 - - - 1 - 2
Capitalized
interest - - - - - - -
------ ----- ----- ----- ----- ----- ----
Net
fixed
charges 1 - - - 1 - 2
------ ----- ----- ----- ----- ----- ----
Income
(Loss)
Before
Income Taxes 27 2 2 22 1 (16) 38
------ ----- ----- ----- ----- ----- ----
Income Taxes 5 1 1 9 - - 16
------ ----- ----- ----- ----- ----- ----
Net Income
(Loss) $ 22 $ 1 $ 1 $ 13 $ 1 $ (16) $22
====== ===== ===== ===== ===== ===== ====
<FN>
(7) Represents HYDRA-CO Enterprises, Inc., HCE Appomattox, Inc.,
Lakewood Project Management, Inc., HCE Jamaica Development, Inc., HCE
Rockford Diesel, Inc., HCE Lakewood, Inc., HCE Jamaica, Inc., HCE Imperial
Valley, Inc. and New Bern Energy Recovery, Inc. consolidated.
</TABLE>
<TABLE>
CMS CENTRALES TERMICAS S.A.
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent
power
production $ 1 $ - $ 53 $ 37 $ - $ 91
Other - - - - - -
------ ------ ------ ------ ------ ------
Total
operating
revenue 1 - 53 37 - 91
------ ------ ------ ------ ------ ------
Operating
Expenses
Fuel for
electric
generation - - 29 13 - 42
Other
operation
expense 2 - 12 14 - 28
Depreciation,
depletion
and amortiza-
tion - - 8 4 - 12
General taxes - - - - - -
------ ------ ------ ------ ------ ------
Total
operating
expenses 2 - 49 31 - 82
------ ------ ------ ------ ------ ------
Pretax Operating
Income (1) - 4 6 - 9
------ ------ ------ ------ ------ ------
Other
Income
(Deductions) 1 3 - - (4) -
------ ------ ------ ------ ------ ------
Fixed Charges
Interest on
long-term
debt - - - 6 - 6
Other interest - - 1 1 - 2
Capitalized
Interest - - - - - -
------ ------ ------ ------ ------ ------
Net
fixed
charges - - 1 7 - 8
------ ------ ------ ------ ------ ------
Income
(Loss)
Before
Income Taxes - 3 3 (1) (4) 1
------ ------ ------ ------ ------ ------
Income Taxes - - 1 - - 1
------ ------ ------ ------ ------ ------
Net Income
(Loss) $ - $ 3 $ 2 $ (1) $ (4) $ -
====== ====== ====== ====== ====== ======
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
Jeguru- CMSG CMSG CMSG
CMSG padu CMSG CMSG Loy Yang Loy Yang Jorf
Inv. Co. O&M Co. Pinamucan Cebu Holdings Holdings Lasfar
I/II(8) Mauritius LDC LDC 1 Ltd. 2 Ltd. I LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent
power
production $ 2 $ 1 $ (1) $ 1 $ (2) $ 9 $ -
Other - - - - - - -
---- ------ ------ ------ ------ ------ ------
Total
operating
revenue 2 1 (1) 1 (2) 9 -
---- ------ ------ ------ ------ ------ ------
Operating
Expenses
Fuel for
electric
generation - - - - - - -
Other
operation
expense - - - 1 - 10 1
Depreciation,
depletion
and amortiza-
tion - 1 - - - - -
General taxes - - - - - - -
---- ------ ------ ------ ------ ------ ------
Total
operating
expenses - 1 - 1 - 10 1
---- ------ ------ ------ ------ ------ ------
Pretax
Operating
Income (Loss) 2 - (1) - (2) (1) (1)
---- ------ ------ ------ ------ ------ ------
Other
Income
(Deductions)
Interest
from
affiliates 41 - - - - - -
Other, net 21 - - - - - 26
------ ------ ------ ------ ------ ------ ------
Total
other
income
(deduc-
tions) 62 - - - - - 26
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest
on long-
term debt - - - - - - -
Other interest 3 - - - 20 21 -
Capitalized
interest - - - - - - -
------ ------ ------ ------ ------ ------ ------
Net
fixed
charges 3 - - - 20 21 -
------ ------ ------ ------ ------ ------ ------
Income
(Loss)
Before
Income Taxes 61 - (1) - (22) (22) 25
------ ------ ------ ------ ------ ------ ------
Income Taxes 4 - - - (8) (8) -
------ ------ ------ ------ ------ ------ ------
Net Income
(Loss) $ 57 $ - $ (1) $ - $ (14) $ (14) $ 25
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMSG Jorf Jorf Inter- CMSG
Jorf Lasfar Jorf Lasfar company Investment
Lasfar Handels- Lasfar Power Elimina- Co. I/II
II Ltd. bolag I HB Energy HB tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent
power
production $ - $ 2 $ 26 $ 24 $ - $ 62
Other - - - - - -
------ ------ ------ ------ ------ ------
Total
operating
revenue - 2 26 24 - 62
------ ------ ------ ------ ------ ------
Operating Expenses
Fuel for
electric
generation - - - - - -
Other operation
expense 1 - - - - 13
Depreciation,
depletion
and amortiza-
tion - - - - - 1
General taxes - - - - - -
------ ------ ------ ------ ------ ------
Total
operating
expenses 1 - - - - 14
------ ------ ------ ------ ------ ------
Pretax
Operating
Income (Loss) (1) 2 26 24 - 48
------ ------ ------ ------ ------ ------
Other Income
(Deductions)
Interest from
affiliates - - - - (41) -
Other, net 26 - - - (73) -
------ ------ ------ ------ ------ ------
26 - - - (114) -
------ ------ ------ ------ ------ ------
Fixed Charges
Interest on
long-term debt - - - - - -
Other interest - - - - (41) 3
Capitalized Interest - - - - - -
------ ------ ------ ------ ------ ------
Net fixed
charges - - - - (41) 3
------ ------ ------ ------ ------ ------
Income (Loss)
Before Income Taxes 25 2 26 24 (73) 45
------ ------ ------ ------ ------ ------
Income Taxes - - - - - (12)
------ ------ ------ ------ ------ ------
Net Income (Loss) $ 25 $ 2 $ 26 $ 24 $ (73) $ 57
====== ====== ====== ====== ====== ======
<FN>
(8) Represents CMSG Investment Company I, CMSG Investment Company
II and CMSG Taweelah Ltd. consolidated.
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
<CAPTION>
CMS CMS CMS CMS CMS
CMS Gas CMS Marysville Gas Jackson Saginaw Grand Lacs
Transmission Antrim Gas Liquids Argentina Pipeline Bay Holding
Company(9) Company Company Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Operating
Revenue
Natural
gas
trans-
mission,
storage
and pro-
cessing $ 12 $ 13 $ 3 $ 13 $ 2 $ 1 $ 5
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total
operating
revenue 12 13 3 13 2 1 5
------ ------ ------ ------ ------ ------ ------
Operating
Expenses
Cost of
gas sold - - - - - - -
Other
operation
expense 7 2 1 1 1 - -
Maintenance - - - - - - -
Depreciation,
depletion
and amor-
tization 2 3 - 1 - - 2
General taxes - - - - - - -
------ ------ ------ ------ ------ ------ ------
Total
operat-
ing
expenses 9 5 1 2 1 - 2
------ ------ ------ ------ ------ ------ ------
Pretax
Operating
Income (Loss) 3 8 2 11 1 1 3
------ ------ ------ ------ ------ ------ ------
Other
Income
(Deductions)
Interest
from
affiliates - 1 - - - - -
Other, net 23 - - - - - 1
------ ------ ------ ------ ------ ------ ------
Total
other
income
(deduct-
ions) 23 1 - - - - 1
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest
on long-
term debt - 3 - - - - -
Other
interest 1 - 1 - - - -
Capitalized
interest (5) - - - - - -
------ ------ ------ ------ ------ ------ ------
Net
fixed
charges (4) 3 1 - - - -
------ ------ ------ ------ ------ ------ ------
Income
(Loss)
Before
Income
Taxes 30 6 1 11 1 1 4
------ ------ ------ ------ ------ ------ ------
Income Taxes 8 2 - - - - 2
------ ------ ------ ------ ------ ------ ------
Net Income
(Loss) $ 22 $ 4 $ 1 $ 11 $ 1 $ 1 $ 2
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Cherokee CMS Gas CMS Con- Grand Inter- CMS Gas
Petal Gas Trans.of tinential Lacs Company Transmission
Gas Storage Processing Australia Nat. Gas, Limited Elimina-Company
Company L.L.C. Trust Inc. Part. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating
Revenue
Natural
gas
trans-
mission,
storage
and pro-
cessing $ 2 $ 21 $ 13 $ 69 $ 7 $ - $ 161
Other - - - - - - -
---- ------ ------ ------ ------ ------ ------
Total
operat-
ing
revenue 2 21 13 69 7 - 161
---- ------ ------ ------ ------ ------ ------
Operating
Expenses
Cost of
gas sold 2 15 2 66 - - 85
Other
operation
expense - 3 4 2 5 - 26
Maintenance - - 1 - - - 1
Depreciation,
depletion
and amor-
tization - 2 2 2 - - 14
General
taxes - 1 - 1 - - 2
---- ------ ------ ------ ------ ------ -----
Total
operat-
ing
expenses 2 21 9 71 5 - 128
------ ------ ------ ------ ------ ------ ------
Pretax
Operating
Income
(Loss) - - 4 (2) 2 - 33
------ ------ ------ ------ ------ ------ ------
Other
Income
(Deductions)
Interest
from
affiliates - - - - - - 1
Other, net - - 1 - - (23) 2
------ ------ ------ ------ ------ ------ ------
Total
other
income
(deduct-
ions) - - 1 - - (23) 3
------ ------ ------ ------ ------ ------ ------
Fixed Charges
Interest
on long-
term debt - - - 1 - - 4
Other
interest - - - - - - 2
Capitalized
interest - - - - - - (5)
------ ------ ------ ------ ------ ------ ------
Net
fixed
charges - - - 1 - - 1
------ ------ ------ ------ ------ ------ ------
Income
(Loss)
Before
Income
Taxes - - 5 (3) 2 (23) 35
------ ------ ------ ------ ------ ------ ------
Income
Taxes - - 2 (1) - - 13
------ ------ ------ ------ ------ ------ ------
Net
Income
(Loss) $ - $ - $ 3 $ (2) $ 2 $ (23)$ 22
====== ====== ====== ====== ====== ====== ======
<FN>
(9) Represents CMS Gas Transmission and Storage Company and CMS
Saginaw Bay Lateral Company consolidated.
</TABLE>
<TABLE>
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Plant and Property
(At Cost)
Electric $ - $6,720 $ - $ - $ 6,720
Gas - 2,360 342 (1) 2,701
Oil and
gas properties - - 670 - 670
Independent
power production - - 518 - 518
Other 12 25 343 (7) 373
------ ------ ------ ------- -------
12 9,105 1,873 (8) 10,982
Less accumulated
depreciation,
depletion and
amortization 6 4,862 345 - 5,213
------ ------ ------ ------- -------
6 4,243 1,528 (8) 5,769
Construction
work-in-progress - 165 106 - 271
------ ------ ------ ------- -------
6 4,408 1,634 (8) 6,040
------ ------ ------ ------- -------
Investments
Associated
companies 4,550 241 110 (4,901) -
Independent
power
production - - 888 - 888
Natural gas
transmission,
storage and
processing (6) - 500 - 494
International
energy
distribution - - 209 - 209
First Midland
Limited
Partnership - 240 - - 240
Midland
Cogeneration
Venture - 209 - - 209
Other - - 33 - 33
------ ------ ------ ------- -------
4,544 690 1,740 (4,901) 2,073
------ ------ ------ ------- -------
Current Assets
Cash and
temporary cash
investments 8 25 68 - 101
Accounts
receivable 242 (48) 627 (346) 475
Accrued revenues - 225 20 - 245
Inventories to
average cost
Gas in under-
ground storage - 219 - - 219
Materials and
supplies - 67 32 - 99
Generating
plant fuel
stock - 43 - - 43
Deferred income
taxes 1 (9) 8 - -
Postretirement
benefits - 25 - - 25
Prepayments
and other (4) 162 42 - 200
------ ------ ------ ------- -------
247 709 797 (346) 1,407
------ ------ ------ ------- -------
Non-current Assets
Nuclear
decommissioning
trust funds - 557 - - 557
Postretirement
benefits 1 372 - - 373
Abandoned Midland
project - 71 - - 71
Other 458 347 283 (299) 789
------ ------ ------ ------- -------
459 1,347 283 (299) 1,790
------ ------ ------ ------- -------
Total Assets $5,256 $7,154 $4,454 $(5,554) $11,310
====== ====== ====== ======= =======
<FN>
(1) Represents CMS Energy Corporation with Consumers Energy
Company and CMS Enterprises Company included on the equity method of accounting.
</TABLE>
<TABLE>
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Capitalization
Common
Stockholders'
Equity
Common stock $ 1 $ 841 $ - $ (841) $ 1
Other paid-
in-capital 2,852 502 3,120 (3,880) 2,594
Currency
translation (136) - (146) 146 (136)
Revaluation
capital (9) 68 40 (108) (9)
Retained earnings (234) 434 (315) (119) (234)
------ ------ ------ ------- -------
2,474 1,845 2,699 (4,802) 2,216
Preferred stock - 238 99 (99) 238
Company-obligated
mandatorily
redeemable Trust
Preferred
Securities of:
Consumers Power
Company
Financing I (a) - 100 - - 100
Consumers
Energy Company
Financing II (a) - 120 - - 120
Company-obligated
convertible
Trust Preferred
Securities of
CMS Energy Trust
I (b) 173 - - - 173
Long-term debt 2,467 2,007 552 (300) 4,726
Non-current
capital leases - 100 5 - 105
------ ------ ------ ------- -------
5,114 4,410 3,355 (5,201) 7,678
------ ------ ------ ------- -------
Current Liabilities
Current portion
of long-term
debt 19 119 120 - 258
Current capital
leases - 33 2 - 35
Notes payable 98 215 246 (231) 328
Accounts payable (6) 190 312 5 501
Accounts payable
- related
parties 17 79 88 (105) 79
Power purchases - 47 - - 47
Accrued interest 27 36 12 (10) 65
Accrued taxes 55 238 (21) - 272
Accrued refunds - 11 - - 11
Other 1 138 76 (1) 214
------ ------ ------ ------- -------
211 1,106 835 (342) 1,810
------ ------ ------ ------- -------
Non-current Liabilities
Deferred income
taxes (93) 666 76 - 649
Postretirement
benefits 15 456 18 - 489
Deferred investment
tax credit - 134 1 - 135
Power purchases - 121 - - 121
Regulatory
liabilities for
income taxes, net - 87 - - 87
Other 9 174 169 (11) 341
------ ------ ------ ------- -------
(69) 1,638 264 (11) 1,822
------ ------ ------ ------- -------
Total Stockholders'
Equity
and Liabilities $5,256 $7,154 $4,454 $(5,554)$11,310
====== ====== ====== ======= =======
<FN>
(a) The primary asset of Consumers Power Company Financing I is
$103 million principal amount of 8.36 percent subordinated deferrable interest
notes due 2015 from Consumers. The primary asset of Consumers Energy Company
Financing II is $124 million principal amount of 8.20 percent subordinated
deferrable interest notes due 2027 from Consumers.
(b) The primary asset of CMS Energy Trust I is $178 million
principal amount of 7.75 percent convertible subordinated debentures due 2027
from CMS Energy.
(1) Represents CMS Energy Corporation and Consumers Energy Company
and CMS Enterprises Company included on the equity method of accounting.
</TABLE>
<TABLE>
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Energy
Energy Storage carbons Holdings MidlandElimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Electric $6,720 $ - $ - $ - $ - $ - $6,720
Gas 2,246 114 - - - - 2,360
Other 25 - - - - - 25
------ ------ ------ ------ ------ ----- ------
8,991 114 - - - - 9,105
Less
accumulated
depreciation,
depletion and
amortization 4,808 54 - - - - 4,862
------ ------ ------ ------ ------ ------ ------
4,183 60 - - - - 4,243
Construction
work-in-
progress 164 1 - - - - 165
------ ------ ------ ------ ------ ------ ------
4,347 61 - - - - 4,408
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 584 - - - - (343) 241
First Midland
Limited
Partnership - - - 240 - - 240
Midland
Cogeneration
Venture - - - - 209 - 209
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
584 - - 240 209 (343) 690
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments 9 - 16 - - - 25
Accounts
receivable (47) 13 - - 10 (24) (48)
Accrued
revenues 225 - - - - - 225
Inventories
to average
cost
Gas in under-
ground
storage 219 - - - - - 219
Materials
and
supplies 67 - - - - - 67
Generating
plant fuel
stock 43 - - - - - 43
Deferred
income taxes (19) - - 10 - - (9)
Postretirement
benefits 25 - - - - - 25
Prepayments
and other 161 1 - - - - 162
------ ------ ------ ------ ------ ------ ------
683 14 16 10 10 (24) 709
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Nuclear
decommis-
sioning
trust funds 557 - - - - - 557
Postretirement
benefits 367 5 - - - - 372
Abandoned
Midland
project 71 - - - - - 71
Other 573 1 - - - (227) 347
------ ------ ------ ------ ------ ------ ------
1,568 6 - - - (227) 1,347
------ ------ ------ ------ ------ ------ ------
Total Assets $7,182 $ 81 $ 16 $ 250 $ 219 $(594) $7,154
====== ====== ====== ====== ====== ====== ======
<FN>
(2) Represents Consumers Energy Company, CMS Engineering Company,
ES Services Company, Consumers EnergyGuard Services, Inc. and MEC Development
Corporation consolidated with Michigan Gas Storage Company, CMS Midland
Holdings Company, CMS Midland, Inc. and Huron Hydrocarbons, Inc. included on the
equity method of accounting.
</TABLE>
<TABLE>
CONSUMERS ENERGY COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Energy
Energy Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common stock $ 841 $ 15 $ - $ - $ - $ (15) $ 841
Other
paid-in-
capital 509 - 3 32 153 (195) 502
Revalua-
tion
capital 68 - - - - - 68
Retained
earnings 434 26 3 32 72 (133) 434
------ ------ ------ ------ ------ ------ ------
1,852 41 6 64 225 (343) 1,845
Preferred
stock 238 - - - - - 238
Company-
obligated
mandatorily
redeemable
Trust
Preferred
Securities
of:
Consumers
Power
Company
Financing
I (a) 100 - - - - - 100
Consumers
Energy
Company
Financing
II (a) 120 - - - - - 120
Long-term
debt 2,217 17 - - - (227) 2,007
Non-current
capital
leases 100 - - - - - 100
------ ------ ------ ------ ------ ------ ------
4,627 58 6 64 225 (570) 4,410
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current
portion of
long-term
debt 115 4 - - - - 119
Current
capital
leases 33 - - - - - 33
Notes payable 235 - - - - (20) 215
Accounts
payable 187 3 - - - - 190
Accounts
payable -
related
parties 81 1 - - - (3) 79
Power purchases 47 1 - - - - 47
Accrued interest 36 - - - - (1) 36
Accrued taxes 236 - - 2 - - 238
Accrued refunds 5 6 - - - - 11
Other 138 - - - - - 138
------ ------ ------ ------ ------ ------ ------
1,113 15 - 2 - (24) 1,106
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Deferred
income
taxes 506 3 8 162 (7) - 666
Postretirement
benefits 451 5 - - - - 456
Deferred
investment
tax credit 111 - - 22 1 - 134
Power
purchases 121 - - - - - 121
Regulatory
liabilities
for income
taxes, net 87 - - - - - 87
Other 166 - 8 - - - 174
------ ------ ------ ------ ------ ------ ------
1,442 8 10 184 (6) - 1,638
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $7,182 $ 81 $ 16 $ 250 $ 219 $ (594) $7,154
====== ====== ====== ====== ====== ====== ======
<FN>
(a) The primary asset of Consumers Power Company Financing I is
$103 million principal amount of 8.36 percent subordinated deferrable interest
notes due 2015 from Consumers. The primary asset of Consumers Energy Company
Financing II is $124 million principal amount of 8.20 percent subordinated
deferrable interest notes due 2027 from Consumers.
(2) Represents Consumers Energy Company, CMS Engineering Company,
ES Services Company, Consumers EnergyGuard Services, Inc. and MEC Development
Corporation consolidated with Michigan Gas Storage Company, CMS Midland
Holdings Company, CMS Midland, Inc. and Huron Hydrocarbons, Inc. included on the
equity method of accounting.
</TABLE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS CMS CMS Gas
CMS Oil and Generation Resource CMS CMS Tran. & Stor.
Enterprises Gas Co. Co. Dev. Land MS & T Company
Company(3) Consol. Consol. Co. Company CompanyConsol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Oil and
gas
properties $ - $ 670 $ - $ - $ - $ - $ -
Natural
gas trans-
mission,
storage
and pro-
cessing - - - - - - 342
Independent
power
production 1 - 517 - - - -
Other 2 - - - 15 4 -
------ ------ ------ ------ ------ ------ ------
3 670 517 - 15 4 342
Less accumu-
lated
depreciation,
depletion
and amortiz-
ation 1 245 53 - - 1 22
------ ------ ------ ------ ------ ------ ------
2 425 464 - 15 3 320
Construction
work-in-
progress - - 102 - - - 4
------ ------ ------ ------ ------ ------ ------
2 425 566 - 15 3 324
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 2,852 - 28 - - - -
Independent
power
production - - 860 - - - 28
Natural gas
transmission,
storage
and pro-
cessing - - - - - - 500
International
energy
distribution - - - - - - -
Other (3) - - - 11 25 -
------ ------ ------ ------ ------ ------ ------
2,849 - 888 - 11 25 528
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary
cash
investments (3) 10 11 - - 13 23
Accounts
receivable 30 81 179 14 - 121 97
Accrued
revenues - 20 - - - - -
Materials
and
supplies - 17 8 - - - -
Deferred
income taxes - 5 2 - - 1 -
Prepayments
and other - 10 14 - - 8 10
------ ------ ------ ------ ------ ------ ------
27 143 214 14 - 143 130
------ ------ ------ ------ ------ ------ ------
Non-current
Assets
Post-
retirement
benefits - - - - - - -
Other 4 23 179 - - 2 43
------ ------ ------ ------ ------ ------ ------
4 23 179 - - 2 43
------ ------ ------ ------ ------ ------ ------
Total Assets $2,882 $ 591 $1,847 $ 14 $ 26 $ 173 $1,025
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS Inter- CMS
Electric CMS company Enterprises
& Gas Capital Elimina- Company
Company Corp. tions Consol.
<S> <C> <C> <C> <C>
Plant and Property (At Cost)
Oil and gas properties $ - $ - $ - $ 670
Natural gas transmission, storage
and processing - - - 342
Independent power production - - - 518
Other 324 - (2) 343
------ ------ ------- ------
324 - (2) 1,873
Less accumulated depreciation,
depletion and amortization 23 - - 345
------ ------ ------- ------
301 - (2) 1,528
Construction work-in-progress - - - 106
------ ------ ------- ------
301 - (2) 1,634
------ ------ ------- ------
Investments
Associated companies - - (2,770) 110
Independent power production - - - 888
Natural gas transmission, storage
and processing - - - 500
International energy distribution 209 - - 209
Other - - - 33
------ ------ ------- ------
209 - (2,770) 1,740
------ ------ ------- ------
Current Assets
Cash and temporary cash
investments 3 11 - 68
Accounts receivable 51 286 (232) 627
Accrued revenues - - - 20
Materials and supplies 7 - - 32
Deferred income taxes - - - 8
Prepayments and other - - - 42
------ ------ ------- ------
61 297 (232) 797
------ ------ ------- ------
Non-current Assets
Postretirement benefits - - - -
Other 32 114 (114) 283
------ ------ ------- ------
32 114 (114) 283
------ ------ ------- ------
Total Assets $ 603 $ 411 $(3,118) $4,454
====== ====== ======= ======
<FN>
(3) Represents CMS Enterprises Company, CMS Capital Financial
Services, Inc., CMS Lake Muskegon Company and Monarch Management Company
consolidated with CMS Oil and Gas Company, CMS Generation Company, CMS Land
Company, CMS Capital Corporation, CMS Marketing, Services and Trading Company,
CMS Gas Transmission and Storage Company, CMS Resource Development Company
and CMS Electric and Gas Company included on the equity method of
accounting.
</TABLE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS CMS CMS Gas
CMS Oil and Generation Resource CMS CMS Tran. & Stor.
Enterprises Gas Co. Co. Dev. Land MS & T Company
Company(3) Consol. Consol. Co. Company Company Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capital-
ization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-
capital 3,124 208 1,560 7 22 86 663
Currency
trans-
lation (146) - (116) - - - (15)
Revalua-
tion
capital 40 1 (7) - - - -
Retained
earnings (319) 70 (127) 3 - 5 8
------ ------ ------ ------ ------ ------ ------
2,699 279 1,310 10 22 91 656
Preferred
stock 99 - - - - - -
Long-
term
debt - 195 313 - - - 93
Non-current
capital
leases - - - - - - 5
------ ------ ------ ------ ------ ------ ------
2,798 474 1,623 10 22 91 754
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current
portion of
long-term
debt - 34 14 - - - 7
Current
capital
leases - 1 - - - - 1
Notes
payable (3) - 27 - 1 - 103
Accounts
payable 8 101 52 - - 90 67
Accounts
payable-
related
parties 57 1 30 1 - (1) 16
Accrued
interest - 1 7 - - - 1
Accrued
taxes (5) (22) 4 - - 1 4
Other 2 7 31 4 - (1) 15
------ ------ ------ ------ ------ ------ ------
59 123 165 5 1 89 214
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postre-
tirement
benefits 4 5 4 - - 2 2
Deferred
income
taxes 21 (11) 22 (1) 3 1 34
Deferred
investment
tax credit - - 1 - - - -
Other - - 32 - - (10) 21
------ ------ ------ ------ ------ ------ ------
25 (6) 59 (1) 3 (7) 57
------ ------ ------ ------ ------ ------ ------
Total
Stock-
holders'
Equity
and
Liabil-
ities $2,882 $ 591 $1,847 $ 14 $ 26 $ 173 $1,025
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS ENTERPRISES
COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS Inter- CMS
Electric CMS company Enterprises
& Gas Capital Elimina- Company
Company Corp. tions Consol.
<S> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ -
Other paid-in-capital 388 10 (2,948) 3,120
Currency translation (15) - 146 (146)
Revaluation capital - - 6 40
Retained earnings (15) 5 55 (315)
------ ------ ------- ------
358 15 (2,741) 2,699
Preferred stock - - - 99
Long-term debt - 65 (114) 552
Non-current capital leases - - - 1
------ ------ ------- ------
358 80 (2,855) 3,355
------ ------ ------- ------
Current Liabilities
Current portion of long-term
debt 65 - - 120
Current capital leases - - - 2
Notes payable 4 316 (202) 246
Accounts payable 25 2 (33) 312
Accounts payable - related
parties 7 - (23) 88
Accrued interest - 8 (5) 12
Accrued taxes (4) 1 - (21)
Other 14 4 - 76
------ ------ ------- ------
111 331 (263) 835
------ ------ ------- ------
Non-current Liabilities
Postretirement benefits 1 - - 18
Deferred income taxes 7 - - 76
Deferred investment tax credit - - - 1
Other 126 - - 169
------ ------ ------- ------
134 - - 264
------ ------ ------- ------
Total Stockholders' Equity
and Liabilities $ 603 $ 411 $(3,118) $4,454
====== ====== ======= ======
<FN>
(3) Represents CMS Enterprises Company, CMS Capital Financial
Services, Inc., CMS Lake Muskegon Company and Monarch Management Company
consolidated with CMS Oil and Gas Company, CMS Generation Company, CMS Land
Company, CMS Capital Corporation, CMS Marketing, Services and Trading Company,
CMS Gas Transmission and Storage Company, CMS Resource Development Company
and CMS Electric and Gas Company included on the equity method of
accounting.
</TABLE>
<TABLE>
CMS OIL AND GAS
COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
CMS Explota- CMS NOMECO CMS CMS CMS
CMS NOMECO ciones Inter- NOMECO NOMECO NOMECO
Oil and Gas Alba CMS NOMECO national Ecuador Venezuela Interna.
Company(4) LDC Inc. Ltd. LDC LDC Inc.Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant
and
Property
(Suc
Efforts)
Oil and
gas
pro-
perties $ 269 $ 8 $ 25 $ - $ 88 $ 50 $ 103
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
269 8 25 - 88 50 103
Less
accumu-
lated
deprecia-
tion,
depletion
and amort-
ization 129 1 14 - 61 13 12
------ ------ ------ ------ ------ ------ ------
140 7 11 - 27 37 91
Con-
struction
work-in-
progress - - - - - - -
------ ------ ------ ------ ------ ------ ------
140 7 11 - 27 37 91
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 336 - - 126 - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
336 - - 126 - - -
------ ------ ------ ------ ------ ------ ------
Current
Assets
Cash and
temporary
cash
invest-
ments 1 - 1 - - - 5
Accounts
receivable 62 - 1 22 4 - 18
Accrued
revenues 8 - 1 - 1 3 2
Materials
and
supplies 2 - - - 2 1 9
Deferred
income
taxes 5 - - - - - -
Prepayments
and other - - - - 1 - 3
------ ------ ------ ------ ------ ------ ------
78 - 3 22 8 4 37
------ ------ ------ ------ ------ ------ ------
Non-current
Assets
Post-
retire-
ment
benefits - - - - - - -
Other 4 2 - - - - 8
------ ------ ------ ------ ------ ------ ------
4 2 - - - - 8
------ ------ ------ ------ ------ ------ ------
Total
Assets $ 558 $ 9 $ 14 $ 148 $ 35 $ 41 $ 136
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS NOMECO
CMS CMS Equatorial Terra CMS CMS
NOMECO NOMECO Guinea Energy NOMECO NOMECO
E.G. E.G. Oil & Gas Ltd., Holdings Congo
LDC Ltd. Co. Consol. Ltd. Ltd.
<S> <C> <C> <C> <C> <C> <C>
Plant and
Property
(Suc Efforts)
Oil and gas
properties $ 5 $ 36 $ - $ 77 $ - $ 9
Other - - - - - -
------ ------ ------ ------ ------ ------
5 36 - 77 - 9
Less
accumulated
depreciation,
depletion and
amortization - 5 - 10 - -
------ ------ ------ ------ ------ ------
5 31 - 67 - 9
Construction
work-in-progress - - - - - -
------ ------ ------ ------ ------ ------
5 31 - 67 - 9
------ ------ ------ ------ ------ ------
Investments
Associated
companies - - - - 4 -
Other - - - - - -
------ ------ ------ ------ ------ ------
- - - - 4 -
------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments - 3 - - - -
Accounts receivable - 12 1 98 - -
Accrued revenues - 3 - 2 - -
Materials and
supplies - - - 3 - -
Deferred income
taxes - - - - - -
Prepayments
and other - 5 - 1 - -
------ ------ ------ ------ ------ ------
- 23 1 104 - -
------ ------ ------ ------ ------ ------
Non-current Assets
Post-
retirement
benefits - - - - - -
Other 1 - - 8 - -
------ ------ ------ ------ ------ ------
1 - - 8 - -
------ ------ ------ ------ ------ ------
Total Assets $ 6 $ 54 $ 1 $ 179 $ 4 $ 9
====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Plant and Property (Suc Efforts)
Oil and gas properties $ - $ 670
Other - -
------ ------
- 670
Less accumulated depreciation,
depletion and amortization - 245
------ ------
- 425
Construction work-in-progress - -
------ ------
- 425
------ ------
Investments
Associated companies (466) -
Other - -
------ ------
(466) -
------ ------
Current Assets
Cash and temporary cash
investments - 10
Accounts receivable (137) 81
Accrued revenues - 20
Materials and supplies - 17
Deferred income taxes - 5
Prepayments and other - 10
------ ------
(137) 143
------ ------
Non-current Assets
Postretirement benefits - -
Other - 23
------ ------
- 23
------ ------
Total Assets $ (603) $ 591
====== ======
<FN>
(4) Represents CMS Oil and Gas Company, NOMECO Thailand Oil
Company, NOMECO China Oil Co. and CMS NOMECO Pipeline Company consolidated with
CMS NOMECO International, Inc. and Terra Energy, Ltd. included on the equity
method of accounting.
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
CMS Explota- CMS NOMECO CMS CMS CMS
CMS NOMECO ciones Inter- NOMECO NOMECO NOMECO
Oil and Gas Alba CMS NOMECO national Ecuador VenezuelaInterna.
Company(4) LDC Inc. Ltd. LDC LDC Inc. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ 1 $ - $ - $ -
Other
paid-
in-
capital 208 8 30 172 80 43 26
Revalua-
tion
capital 1 - - - - - -
Retained
earnings 70 1 (10) (38) (30) (3) 14
------ ------ ------ ------ ------ ------ ------
279 9 20 135 50 40 40
Preferred
stock - - - - - - -
Long-term
debt 192 - - - - - 1
Non-current
capital
leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
471 9 20 135 50 40 41
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current
portion
of long-
term
debt 31 - - - - - 3
Current
capital
leases - - - - - - -
Notes
payable - - - 10 - - -
Accounts
payable 44 - 1 - 2 1 26
Accounts
payable-
related
parties 32 - - - - - 62
Accrued
interest 3 - - 3 - - -
Accrued
taxes (25) - - - (1) 1 1
Other 3 - - - - - 1
------ ------ ------ ------ ------ ------ ------
88 - 1 13 1 2 93
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Post-
retirement
benefits 5 - - - - - -
Deferred
income
taxes (5) - (7) - (16) (1) 3
Deferred
investment
tax credit - - - - - - -
Other (1) - - - - - (1)
------ ------ ------ ------ ------ ------ ------
(1) - (7) - (16) (1) 2
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabili-
ties $ 558 $ 9 $ 14 $ 148 $ 35 $ 41 $ 136
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS NOMECO
CMS CMS Equatorial Terra CMS CMS NOMECO
NOMECO NOMECO Guinea Energy NOMECO NOMECO China
E.G. E.G. Oil & Gas Ltd., Holdings Congo Oil
LDC Ltd. Co. Consol. Ltd. Ltd. Co.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock-
holders'
Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-capital 4 15 (4) 115 (2) 7 2
Revaluation
capital - - - - - - -
Retained
earnings 1 3 - 28 4 1 (2)
------ ------ ------ ------ ------ ------ ------
5 18 (4) 143 2 8 -
Preferred stock - - - - - - -
Long-term debt - - - 2 - - -
Non-current
capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
5 18 (4) 145 2 8 -
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current portion
of long-term
debt - - - - - - -
Current
capital leases - - - 1 - - -
Notes payable - 5 - - - - -
Accounts payable - 12 - 14 - 1 -
Accounts payable
-related
parties - 17 4 1 2 - -
Accrued interest - - - - - - -
Accrued taxes - - - 2 - - -
Other - - - 3 - - -
------ ------ ------ ------ ------ ------ ------
- 34 4 21 2 1 -
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postretirement
benefits - - - - - - -
Deferred income
taxes - 1 1 13 - - -
Deferred
investment
tax credit - - - - - - -
Other 1 1 - - - - -
------ ------ ------ ------ ------ ------ ------
1 2 1 13 - - -
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $ 6 $ 54 $ 1 $ 179 $ 4 $ 9 $ -
====== ====== ====== ====== ====== ====== =====
(Continued on Following Page)
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ (1) $ -
Other paid-in-capital (496) 208
Revaluation capital - 1
Retained earnings 31 70
------ ------
(466) 279
Preferred stock - -
Long-term debt - 195
Non-current capital leases - -
------ ------
(466) 474
------ ------
Current Liabilities
Current portion of long-term
debt - 34
Current capital leases - 1
Notes payable (15) -
Accounts payable - 101
Accounts payable - related
parties (117) 1
Accrued interest (5) 1
Accrued taxes - (22)
Other - 7
------ ------
(137) 123
------ ------
Non-current Liabilities
Postretirement benefits - 5
Deferred income taxes - (11)
Deferred investment tax credit - -
Other - -
------ ------
- (6)
------ ------
Total Stockholders' Equity
and Liabilities $ (603) $ 591
====== ======
<FN>
(4) Represents CMS Oil and Gas Company, CMS NOMECO Pipeline
Company, CMS NOMECO Argentina LDC and NOMECO Thailand Oil Company consolidated
with CMS NOMECO International, Inc. and Terra Energy, Ltd. included on the
equity method of accounting.
</TABLE>
<TABLE>
CMS OIL AND GAS INTERNATIONAL, INC.
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS NOMECO CMS CMS NOMECO CMS CMS
NOMECO Inter- NOMECO Inter- NOMECO Inter- NOMECO
Inter- national Cote D' national Int'l company Inter-
national Congo, Ivoire Tunisia, Cameroon, Elimina- national
Inc.(5) Inc. Ltd. Inc. Inc. tions Inc. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant
and
Pro-
perty
(Suc
Efforts)
Oil
and
gas
proper-
ties $ - $ 68 $ 2 $ 32 $ 1 $ - $ 103
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- 68 2 32 1 - 103
Less
accumu-
lated
deprec-
iation,
deple-
tion and
amortiza-
tion - 11 - 1 - - 12
------ ------ ------ ------ ------ ------ ------
- 57 2 31 1 - 91
Construct-
ion work-
in-pro-
gress - - - - - - -
------ ------ ------ ------ ------ ------ ------
- 57 2 31 1 - 91
------ ------ ------ ------ ------ ------ ------
Investments
Assoc-
iated
com-
panies 39 - - - - (39) -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
39 - - - - (39) -
------ ------ ------ ------ ------ ------ ------
Current
Assets
Cash and
temporary
cash
invest-
ments 2 2 - 1 - - 5
Accounts
receiv-
able 66 15 - 2 - (65) 18
Accrued
revenues - 1 - 1 - - 2
Materials
and
supplies - 8 - 1 - - 9
Prepayments
and other 1 1 - 1 - - 3
------ ------ ------ ------ ------ ------ ------
69 27 - 6 - (65) 37
------ ------ ------ ------ ------ ------ ------
Non-
current
Assets
Post-
retire-
ment
benefits - - - - - - -
Other - 7 - 1 - - 8
------ ------ ------ ------ ------ ------ ------
- 7 - 1 - - 8
------ ------ ------ ------ ------ ------ ------
Total
Assets $ 108 $ 91 $ 2 $ 38 $ 1 $ (104) $ 136
====== ====== ====== ====== ====== ====== ======
<FN>
(5) Represents CMS NOMECO International, Inc., CMS NOMECO
International Equatorial Guinea, Inc. and CMS NOMECO International
Transportation, Inc. consolidated.
</TABLE>
<TABLE>
CMS OIL AND GAS INTERNATIONAL, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS NOMECO CMS CMS NOMECO CMS CMS
NOMECO Inter- NOMECO Inter- NOMECO Inter- NOMECO
Inter- national Cote national Int'l company Interna.
national Congo, D'Ivoire Tunisia, Cameroon,Elimina- Inc.
Inc.(5) Inc. Ltd. Inc. Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitaliza-
tion
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-
capital 26 19 5 8 - (32) 26
Retained
earnings 14 13 (4) 1 - (10) 14
------ ------ ------ ------ ------ ------ ------
40 32 1 9 - (42) 40
Preferred
stock - - - - - - -
Long-term
debt - 1 - - - - 1
Non-current
capital
leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
40 33 1 9 - (42) 41
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current
portion
of long-
term
debt - 3 - - - - 3
Current
capital
leases - - - - - - -
Notes payable - - - - - - -
Accounts
payable - 20 1 5 - - 26
Accounts
payable-
related
parties 66 33 - 24 1 (62) 62
Accrued
interest - - - - - - -
Accrued
taxes 1 - - - - - 1
Other 1 - - - - - 1
------ ------ ------ ------ ------ ------ ------
68 56 1 29 1 (62) 93
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Post-
retire-
ment
benefits - - - - - - -
Deferred
income
taxes - 2 - 1 - - 3
Deferred
investment
tax credit - - - - - - -
Other - - - (1) - - (1)
------ ------ ------ ------ ------ ------ ------
- 2 - - - - 2
------ ------ ------ ------ ------ ------ ------
Total
Stock-
holders'
Equity
and
Liabili-
ties $ 108 $ 91 $ 2 $ 38 $ 1 $(104) $ 136
====== ====== ====== ====== ====== ====== ======
<FN>
(5) Represents CMS NOMECO International, Inc., CMS NOMECO
International Equatorial Guinea, Inc. and CMS NOMECO International
Transportation, Inc. consolidated.
</TABLE>
<TABLE>
TERRA ENERGY, LTD.
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
Energy Inter-
Terra Terra Acquis. company Terra
Energy, Pipeline Kristen Oper. Elimina- Energy,
Ltd. Co. Corp. Co. tions Ltd. Consol.
<S> <C> <C> <C> <C> <C> <C>
Plant and
Property
(Suc Efforts)
Oil and gas
properties $ 77 $ - $ - $ - $ - $ 77
Other - - - - - -
------ ------ ------ ------ ------ ------
77 - - - - 77
Less
accumulated
depreciation,
depletion and
amortization 10 - - - - 10
------ ------ ------ ------ ------ ------
67 - - - - 67
Construction
work-
in-progress - - - - - -
------ ------ ------ ------ ------ ------
67 - - - - 67
------ ------ ------ ------ ------ ------
Investments
Associated
companies 5 - - - (5) -
Other - - - - - -
------ ------ ------ ------ ------ ------
5 - - - (5) -
------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments - - - - - -
Accounts
receivable 91 1 3 2 1 98
Accrued revenues 2 - - - - 2
Materials and
supplies 3 - - - - 3
Prepayments
and other 1 - - - - 1
------ ------ ------ ------ ------ ------
97 1 3 2 1 104
------ ------ ------ ------ ------ ------
Non-current
Assets
Postretire-
ment benefits - - - - - -
Other 8 - - - - 8
------ ------ ------ ------ ------ ------
8 - - - - 8
------ ------ ------ ------ ------ ------
Total Assets $ 177 $ 1 $ 3 $ 2 $ (4) $ 179
====== ====== ====== ====== ====== ======
</TABLE>
<TABLE>
TERRA ENERGY, LTD.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
Energy Inter
Terra Terra Acquis. company Terra
Energy, Pipeline Kristen Oper. Elimina- Energy,
Ltd. Co. Corp. Co. tions Ltd. Consol.
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock-
holders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-
in-capital 115 - - 1 (1) 115
Retained earnings 28 - 3 1 (4) 28
------ ------ ------ ------ ------ ------
143 - 3 2 (5) 143
Preferred stock - - - - - -
Long-term debt 2 - - - - 2
Non-current
capital leases - - - - - -
------ ------ ------ ------ ------ ------
145 - 3 2 (5) 145
------ ------ ------ ------ ------ ------
Current Liabilities
Current portion
of long-term
debt - - - - - -
Current capital
leases 1 - - - - 1
Notes payable - - - - - -
Accounts payable 13 1 - - - 14
Accounts payable-
related
parties - - - - 1 1
Accrued interest - - - - - -
Accrued taxes 2 - - - - 2
Other 3 - - - - 3
------ ------ ------ ------ ------ ------
19 1 - - 1 21
------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postretirement
benefits - - - - - -
Deferred income
taxes 13 - - - - 13
Deferred
investment
tax credit - - - - - -
Other - - - - - -
------ ------ ------ ------ ------ ------
13 - - - - 13
------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $ 177 $ 1 $ 3 $ 2 $ (4) $ 179
====== ====== ====== ====== ====== ======
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
CMSG CMSG CMSG CMSG
CMS Honey Filer CMSG Grayling CMSG Filer
Generation Lake City, Grayling HoldingsOperating City Oper.
Co. (6) Company Inc. Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Independent
power
production $ 1 $ - $ - $ - $ - $ - $ -
Less
accumulated
depreciation,
depletion and
amortization - - - - - - -
------ ------ ------ ------ ------ ------ ------
1 - - - - - -
Construction
work-in-
progress 79 - - - - - -
------ ------ ------ ------ ------ ------ ------
80 - - - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 1,213 - - - - - -
Other 34 40 14 - 9 - -
------ ------ ------ ------ ------ ------ ------
1,247 40 14 - 9 - -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments (3) - - - - 1 -
Accounts
receivable 43 (1) - - - 10 1
Materials
and supplies - - - - - - -
Deferred income
taxes 2 - - - - - -
Prepayments
and other - - - - - - -
------ ------ ------ ------ ------ ------ ------
42 (1) - - - 11 1
------ ------ ------ ------ ------ ------ ------
Non-current
Assets
Postretirement
benefits - - - - - - -
Other 106 - - 1 - - -
------ ------ ------ ------ ------ ------ ------
106 - - 1 - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $1,475 $ 39 $ 14 $ 1 $ 9 $ 11 $ 1
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Jorf Mid- CMSG CMSG HYDRA-CO
Lasfar CMS CMSG Michigan Invest. Int'l. Enter-
Operations Generation Recycling Recycling Co. I/II Operating prises
Handelsb. S.A. Company L.L.C. Consol. Co. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Inde-
pendent
power
produc-
tion $ - $ - $ - $ 3 $ - $ - $ 245
Less
accumu-
lated
deprec-
iation,
depletion
and amort-
ization - - - 1 - - 37
------ ------ ------ ------ ------ ------ -----
- - - 2 - - 208
Construc-
tion
work-
in-pro-
gress - - - - - - 1
------ ------ ------ ------ ------ ------ ------
- - - 2 - - 209
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 2 - 2 - - 2 -
Other - 43 - - 600 - 88
------ ------ ------ ------ ------ ------ ------
2 43 2 - 600 2 88
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary
cash
invest-
ments - - - - 1 - 5
Accounts
receivable - 1 - 1 12 1 34
Materials
and
supplies - - - - - - -
Deferred
income
taxes - - - - - - -
Prepayments
and other - - - - 1 - 1
------ ------ ------ ------ ------ ------ ------
- 1 - 1 14 1 40
------ ------ ------ ------ ------ ------ ------
Non-current
Assets
Postre-
tirement
benefits - - - - - - -
Other - - - 2 1 - 37
------ ------ ------ ------ ------ ------ ------
- - - 2 1 - 37
------ ------ ------ ------ ------ ------ ------
Total
Assets $ 2 $ 44 $ 2 $ 5 $ 615 $ 3 $ 374
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS Oxford/ CMSG Jeguru-
CMSG CMSG Morocco CMS Invest. padu
Holdings Altoona CTM Operating Development Company CMSG
Company Company Consol. Co. SCA L.P. III Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Independent
power
production $ - $ - $ 266 $ - $ 2 $ - $ -
Less accumu-
lated deprec-
iation,
depletion
and amortiza-
tion - - 15 - - - -
------ ------ ------ ------ ------ ------ ------
- - 251 - 2 - -
Construction
work-in-
progress - - 22 - - - -
------ ------ ------ ------ ------ ------ ------
- - 273 - 2 - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies - - - - - 25 -
Other 9 - - - 6 - 17
------ ------ ------ ------ ------ ------ ------
9 - - - 6 25 17
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments - - 6 - 1 - -
Accounts
receivable 5 42 68 6 - - 7
Materials and
supplies - - 8 - - - -
Deferred
income taxes - - - - - - -
Prepayments
and other - - 11 1 - - -
------ ------ ------ ------ ------ ------ ------
5 42 93 7 1 - 7
------ ------ ------ ------ ------ ------ ------
Non-current
Assets
Postre-
tirement
benefits - - - - - - -
Other - - 31 - - - 1
------ ------ ------ ------ ------ ------ ------
- - 31 - - - 1
------ ------ ------ ------ ------ ------ ------
Total Assets $ 14 $ 42 $ 397 $ 7 $ 9 $ 25 $ 25
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
company Generation
Elimina- Company
tions Consol.
<S> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ 517
Less accumulated depreciation,
depletion and amortization - 53
------- ------
- 464
Construction work-in-progress - 102
------- ------
- 566
------- ------
Investments
Associated companies (1,216) 28
Other - 860
------- ------
(1,216) 888
------- ------
Current Assets
Cash and temporary cash
investments - 11
Accounts receivable (51) 179
Materials and supplies - 8
Deferred income taxes - 2
Prepayments and other - 14
------- ------
(51) 214
------- ------
Non-current Assets
Postretirement benefits - -
Other - 179
------- ------
- 179
------- ------
Total Assets $(1,267) $1,847
======= ======
<FN>
(6) Represents CMS Generation Company, CMSG Mon Valley Company,
CMSG Genesee
Company, CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG
Montreal
Company, CMS Jorf Lasfar III LDC and OTR of Massachusetts, Inc.
consolidated
with HYDRA-CO Enterprises, Inc., CMS Centrales Termicas S.A., CMSG
Investment
Company I and CMSG Investment Company II included on the equity
method of
accounting.
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
CMSG CMSG CMSG CMSG
CMS Honey Filer CMSG Grayling CMSG Filer
Generation Lake City, Grayling Holdings Operating City Oper.
Co.(6) Company Inc. Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ 1 $ -
Other
paid-
in-capital 1,560 10 6 4 7 3 -
Currency
translation (116) - - - - - -
Revaluation
capital (7) - - - - - -
Retained
earnings (126) 18 5 (4) (3) - -
------ ------ ------ ------ ------ ------ ------
1,311 28 11 - 4 4 -
Preferred
stock - - - - - - -
Long-term debt 65 - - - - - -
Non-current
capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
1,376 28 11 - 4 4 -
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current
portion of
long-term
debt - - - - - - -
Current capital
leases - - - - - - -
Notes payable 27 - - - - - -
Accounts payable 24 - - 1 - 1 -
Accounts payable-
related
parties 27 - - - - - -
Accrued interest 4 - - - - - -
Accrued taxes (13) 3 - - - 1 -
Other 3 - - - - 4 1
------ ------ ------ ------ ------ ------ ------
72 3 - 1 - 6 1
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postre-
tirement
benefits 3 - - - - 1 -
Deferred
income taxes 17 7 3 - 5 - -
Deferred
investment
tax credit - 1 - - - - -
Other 7 - - - - - -
------ ------ ------ ------ ------ ------ ------
27 8 3 - 5 1 -
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $1,475 $ 39 $ 14 $ 1 $ 9 $ 11 $ 1
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Jorf Mid- CMSG CMSG HYDRA-CO
Lasfar CMS CMSG Michigan Inv. Co. Int'l Enter-
Operations Generation Recycling Recycling I/II Operating prises
Handelsb. S.A. Company L.L.C. Consol. Co. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-
capital - 44 3 4 632 1 207
Currency
translation - - - - (113) - -
Revaluation
capital - - - - - - -
Retained
earnings 2 (2) (1) - 69 2 (65)
------ ------ ------ ------ ------ ------ ------
2 42 2 4 588 3 142
Preferred
stock - - - - - - -
Long-term
debt - - - - - - 183
Non-current
capital
leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
2 42 2 4 588 3 325
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current
portion of
long-term
debt - - - - - - 8
Current
capital
leases - - - - - - -
Notes payable - - - - 41 - -
Accounts
payable - - - - - - -
Accounts
payable-
related
parties - 2 - 1 5 - 1
Accrued
interest - - - - 1 - 2
Accrued
taxes - - - - 4 - 4
Other - - - - - - 18
------ ------ ------ ------ ------ ------ ------
- 2 - 1 51 - 33
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postre-
tirement
benefits - - - - - - -
Deferred
income
taxes - - - - (24) - 8
Deferred
investment
tax credit - - - - - - -
Other - - - - - - 8
------ ------ ------ ------ ------ ------ ------
- - - - (24) - 16
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $ 2 $ 44 $ 2 $ 5 $ 615 $ 3 $ 374
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity andLiabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS Oxford/ CMSG Jeguru-
CMSG CMSG Morocco CMS Invest. padu
Holdings Altoona CTM Operating Development Company CMSG
Company Company Consol. Co. SCA L.P. III Ltd.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-
capital 12 39 242 - 9 24 24
Currency
translation - - - - - (3) (3)
Revaluation
capital - - - - - - -
Retained
earnings (7) 3 (1) 2 - 3 4
------ ------ ------ ------ ------ ------ ------
5 42 241 2 9 24 25
Preferred stock - - - - - - -
Long-term debt - - 65 - - - -
Non-current
capital leases - - - - - - -
------ ------ ------ ------ ------- ------ ------
5 42 306 2 9 24 25
------ ------ ------ ------ ------ ----- ------
Current Liabilities
Current
portion of
long-term
debt - - 6 - - - -
Current capital
leases - - - - - - -
Notes payable - - - - - - -
Accounts payable - - 62 1 - - -
Accounts payable-
related parties - - 2 1 - - -
Accrued interest - - 1 - - - -
Accrued taxes - - 2 3 - - -
Other - - 5 - - - -
------ ------ ------ ------ ------ ------ ------
- - 78 5 - - -
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postre-
tirement
benefits - - - - - - -
Deferred
income
taxes 4 - 1 - - 1 -
Deferred
investment
tax credit - - - - - - -
Other 5 - 12 - - - -
------ ------ ------ ------ ------ ------ ------
9 - 13 - - 1 -
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $ 14 $ 42 $ 397 $ 7 $ 9 $ 25 $ 25
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
company Generation
Elimina- Company
tions Consol.
<S> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ (1) $ -
Other paid-in-capital (1,271) 1,560
Currency translation 119 (116)
Revaluation capital - (7)
Retained earnings (26) (127)
------- ------
(1,179) 1,310
Preferred stock - -
Long-term debt - 313
Non-current capital leases - -
------- ------
(1,179) 1,623
------- ------
Current Liabilities
Current portion of long-term
debt - 14
Current capital leases - -
Notes payable (41) 27
Accounts payable (37) 52
Accounts payable - related
parties (9) 30
Accrued interest (1) 7
Accrued taxes - 4
Other - 31
------- ------
(88) 165
------- ------
Non-current Liabilities
Postretirement benefits - 4
Deferred income taxes - 22
Deferred investment tax credit - 1
Other - 32
------- ------
- 59
------- ------
Total Stockholders' Equity
and Liabilities $(1,267) $1,847
======= ======
<FN>
(6) Represents CMS Generation Company, CMSG Mon Valley Company,
CMSG Genesee Company, CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG
Montreal Company, CMS Jorf Lasfar III LDC, Oxford Tire Supply, Inc. and OTR
of Massachusetts, Inc. consolidated with HYDRA-CO Enterprises, Inc.,
CMS Centrales Termicas S.A., CMSG Investment Company I and CMSG Investment
Company II included on the equity method of accounting.
</TABLE>
<TABLE>
HYDRA-CO ENTERPRISES,INC.
Consolidating Balance Sheet - Assets
December 31,1998
(In Millions)
<CAPTION>
HYDRO-CO CMS New HCE HCE
Enter- Generation HCE Bern HCE Rockfort Lake-
prises Oper. Co. Appomatox Energy Hudson,Diesel, wood
Inc.(7) II Inc. Rec. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Independent
power
production $ - $ - $ - $ - $ - $ - $ -
Less
accumulated
depreciation,
depletion and
amortization - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
Construction
work-in-
progress - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 74 - - - - - -
Other 59 - - 2 8 17 1
------ ------ ------ ------ ------ ------ ------
133 - - 2 8 17 1
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments - 1 - - - - -
Accounts
receivable 7 6 - - 3 1 -
Materials and
supplies - - - - - - -
Prepayments and
other 1 - - - - - -
------ ------ ------ ------ ------ ------ ------
</TABLE>
<TABLE>
HYDRA-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
HCE Inter- HYDRA-CO
Lakewood Imperial CMSG company Enter-
Cogen. Valley, Stratton Elimina- prises
L.P. Inc. Co. tions Consol.
<S> <C> <C> <C> <C> <C>
Plant and Property
(At Cost)
Independent power
production $ 245 $ - $ - $ - $ 245
Less accumulated
depreciation,
depletion and
amortization 37 - - - 37
------ ------ ------ ------ ------
208 - - - 208
Construction
work-in-
progress 1 - - - 1
------ ------ ------ ------ ------
209 - - - 209
------ ------ ------ ------ ------
Investments
Associated
companies - - - (74) -
Other - 1 - - 88
------ ------ ----- ------ ------
- 1 - (74) 88
------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments 2 - 2 - 5
Accounts receivable 21 1 2 (7) 34
Materials and supplies - - - - -
Prepayments and other - - - - 1
------ ------ ------ ------ ------
23 1 4 (7) 40
------ ------ ------ ------ ------
Non-current Assets
Postretirement
benefits - - - - -
Other 2 - - - 37
------ ------ ------ ------ ------
2 - - - 37
------ ------ ------ ------ ------
Total Assets $ 234 $ 2 $ 4 $ (81) $ 374
====== ====== ====== ====== ======
<FN>
(7) Represents HYDRA-CO Enterprises, Inc. and HCE Jamaica Development, Inc.
consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
HYDRO-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
HYDRO-CO CMS New HCE
Enter- Generation HCE Bern HCE Rockfort HCE
prises Oper. Co. Appomatox Energy Hudson, Diesel, Lakewood
Inc.(7) II Inc. Rec. Inc. Inc. Inc. Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-
capital 201 5 2 - 9 19 1
Currency
translation - - - - - - -
Revaluation
capital - - - - - - -
Retained
earnings (65) (1) - 1 3 1 -
------ ------ ------ ------ ------ ------ ------
136 4 2 1 12 20 1
Preferred
stock - - - - - - -
Long-term debt - - - - - - -
Non-current
capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
136 4 2 1 12 20 1
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current
portion of
long-term
debt - - - - - - -
Current
capital
leases - - - - - - -
Notes payable - - - - - - -
Accounts
payable - - - - - - -
Accounts
payable -
related
parties 4 3 - - - - -
Accrued
interest 2 - - - - - -
Accrued taxes 6 - - 1 - - -
Other 12 3 - - - - -
------ ------ ------ ------ ------ ------ ------
24 6 - 1 - - -
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postre-
tirement
benefits - - - - - - -
Deferred income
taxes 6 - - - 1 1 -
Deferred
investment
tax credit - - - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
6 - - - 1 1 -
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $ 166 $ 10 $ 2 $ 2 $ 13 $ 21 $ 1
====== ====== ====== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
HYDRO-CO ENTERPRISES, INC.
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
HCE Inter- HYDRA-CO
Lakewood Imperial CMSG company Enter-
Cogen. Valley, Stratton Elimina- prises
L.P. Inc. Co. tions Consol.
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stock-
holders' Equity
Common
stock $ - $ - $ - $ - $ -
Other paid-
in-capital 32 2 20 (84) 207
Currency
translation - - - - -
Revaluation
capital - - - - -
Retained
earnings 1 - (15) 10 (65)
------ ------ ------ ------ ------
33 2 5 (74) 142
Preferred stock - - - - -
Long-term debt 183 - - - 183
Non-current
capital leases - - - - -
------ ------ ------ ------ ------
216 2 5 (74) 325
------ ------ ------ ------ ------
Current Liabilities
Current portion
of long-term
debt 8 - - - 8
Current capital
leases - - - - -
Notes payable - - - - -
Accounts payable - - - - -
Accounts payable-
related
parties 1 - - (7) 1
Accrued interest - - - - 2
Accrued taxes - - (3) - 4
Other 1 - 2 - 18
------ ------ ------ ------ ------
10 - (1) (7) 33
------ ------ ------ ------ ------
Non-current Liabilities
Postretirement
benefits - - - - -
Deferred income
taxes - - - - 8
Deferred
investment
tax credit - - - - -
Other 8 - - - 8
------ ------ ------ ------ ------
8 - - - 16
------ ------ ------ ------ ------
Total Stockholders'
Equity
and
Liabilities $ 234 $ 2 $ 4 $ (81) $ 374
====== ====== ====== ====== ======
<FN>
(7) Represents HYDRA-CO Enterprises, Inc. and HCE Jamaica Development, Inc.
consolidated.
</TABLE>
<TABLE>
CMS CENTRALES TERMICAS S.A
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Plant and Property
(At Cost)
Independent
power
production $ 4 $ - $ 188 $ 74 $ - $ 266
Less
accumulated
depreciation,
depletion and
amortization - - 10 5 - 15
------ ------ ------ ------ ------- ------
4 - 178 69 - 251
Construction
work-in-
progress - - 22 - - 22
------ ------ ------ ------ ------- ------
4 - 200 69 - 273
------ ------ ------ ------ ------- ------
Investments
Associated
companies 234 234 - - (468) -
Other - - - - - -
------ ------ ------ ------ ------- ------
234 234 - - (468) -
------ ------ ------ ------ ------- ------
Current Assets
Cash and
temporary cash
investments - - 1 5 - 6
Accounts
receivable 4 - 39 26 (1) 68
Materials and
supplies - - 8 - - 8
Deferred income
taxes - - - - - -
Prepayments and
other 1 - 10 - - 11
------ ------ ------ ------ ------- ------
5 - 58 31 (1) 93
------ ------ ------ ------ ------- ------
Non-current Assets
Postretirement
benefits - - - - - -
Other - - 13 18 - 31
------ ------ ------ ------ ------- ------
- - 13 18 - 31
------ ------ ------ ------ ------- ------
Total Assets $ 243 $ 234 $ 271 $ 118 $ (469) $ 397
====== ====== ====== ====== ======= ======
</TABLE>
<TABLE>
CMS CENTRALES TERMICAS S.A
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock-
holders'
Equity
Common stock $ - $ - $ - $ - $ - $ -
Other
paid-in-
capital 242 234 231 38 (503) 242
Currency
translation - - - - - -
Revaluation
capital - - - - - -
Retained
earnings (1) - 3 (2) (1) (1)
------ ------ ------ ------ ------- ------
241 234 234 36 (504) 241
Preferred
stock - - - - - -
Long-term debt - - - 65 - 65
Non-current
capital leases - - - - - -
------ ------ ------ ------ ------- ------
241 234 234 101 (504) 306
------ ------ ------ ------ ------- ------
Current Liabilities
Current
portion of
long-term
debt - - - 6 - 6
Current capital
leases - - - - - -
Notes payable - - - - - -
Accounts payable - - 19 7 36 62
Accounts payable-
related
parties 2 - 1 - (1) 2
Accrued interest - - - 1 - 1
Accrued taxes - - 3 (1) - 2
Other - - 3 2 - 5
------ ------ ------ ------ ------- ------
2 - 26 15 35 78
------ ------ ------ ------ ------- ------
Non-current Liabilities
Postretirement
benefits - - - - - -
Deferred income
taxes - - 1 - - 1
Deferred
investment
tax credit - - - - - -
Other - - 10 2 - 12
------ ------ ------ ------ ------- ------
- - 11 2 - 13
------ ------ ------ ------ ------- ------
Total Stock-
holders' Equity
and
Liabilities $ 243 $ 234 $ 271 $ 118 $ (469) $ 397
====== ====== ====== ====== ======= ======
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
Jeguru- CMSG CMSG CMSG
CMSG padu CMSG CMSG Loy Yang Loy Yang Jorf
Inv. Co. O&M Co. Pinamucan Cebu Holdings Holdings Lasfar
I/II(8) Mauritius LDC LDC 1 Ltd. 2 Ltd. I LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property
(At Cost)
Independent
power
production $ - $ - $ - $ - $ - $ - $ -
Less
accumulated
depreciation,
depletion and
amortization - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
Construction
work-in-
progress - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 186 - - - - - 26
Other 119 8 6 14 192 195 -
------ ------ ------ ------ ------ ------ ------
305 8 6 14 192 195 26
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary
cash
investments 1 - - - - - -
Accounts
receivable 324 - 2 3 3 2 -
Materials and
supplies - - - - - - -
Deferred
income taxes - - - - - - -
Prepayments
and other - - 1 - - - -
------ ------ ------ ------ ------ ------ ------
325 - 3 3 3 2 -
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Postretirement
benefits - - - - - - -
Other 1 - - - - - -
------ ------ ------ ------ ------ ------ ------
1 - - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 631 $ 8 $ 9 $ 17 $ 195 $ 197 $ 26
====== ====== ====== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMSG Jorf Jorf Inter- CMSG
Jorf Lasfar Jorf Lasfar CMSG company Investment
Lasfar Handels- Lasfar Power Taweelah Elimina- Co. I/II
II Ltd. bolag I HB Energy HB Ltd. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property
(At Cost)
Independent
power
production $ - $ - $ - $ - $ - $ - $ -
Less
accumulated
depreciation,
depletion and
amortization - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
Construction
work-in-
progress - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 26 - - - - (238) -
Other - 2 26 24 14 - 600
------ ------ ------ ------ ------ ------ ------
26 2 26 24 14 (238) 600
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary cash
investments - - - - - - 1
Accounts
receivable - - - - - (322) 12
Materials
and supplies - - - - - - -
Deferred income
taxes - - - - - - -
Prepayments
and other - - - - - - 1
------ ------ ------ ------ ------ ------ ------
- - - - - (322) 14
------ ------ ------ ------ ------ ------ ------
Non-current Assets
Postre-
tirement
benefits - - - - - - -
Other - - - - - - 1
------ ------ ------ ------ ------ ------ ------
- - - - - - 1
------ ------ ------ ------ ------ ------ ------
Total Assets $ 26 $ 2 $ 26 $ 24 $ 14 $ (560) $ 615
====== ====== ====== ====== ====== ====== ======
<FN>
(8) Represents CMSG Investment Company I and CMSG Investment Company II
consolidated.
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
Jeguru- CMSG CMSG CMSG
CMSG padu CMSG CMSG Loy Yang Loy Yang Jorf
Inv. Co. O&M Co. Pinamucan Cebu Holdings Holdings Lasfar
I/II(8) Mauritius LDC LDC 1 Ltd. 2 Ltd. I LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-in-
capital 632 8 10 17 122 123 -
Currency
translation (113) - - (5) (54) (54) -
Revaluation
capital - - - - - - -
Retained
earnings 69 - (2) 3 (23) (23) 25
------ ------ ------ ------ ------ ------ ------
588 8 8 15 45 46 25
Preferred
stock - - - - - - -
Long-term debt - - - - - - -
Non-current
capital leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
588 8 8 15 45 46 25
------ ------ ------ ------ ------ ------ ------
Current Liabilities
Current
portion of
long-term
debt - - - - - - -
Current
capital leases - - - - - - -
Notes payable 41 - - - 160 161 -
Accounts payable - - - - - - -
Accounts payable
- related
parties 1 - 1 2 - - 1
Accrued interest 1 - - - - - -
Accrued taxes - - - - 2 2 -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
43 - 1 2 162 163 1
------ ------ ------ ------ ------ ------ ------
Non-current Liabilities
Postre-
tirement
benefits - - - - - - -
Deferred
income taxes - - - - (12) (12) -
Deferred
investment
tax credit - - - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - (12) (12) -
------ ------ ------ ------ ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $ 631 $ 8 $ 9 $ 17 $ 195 $ 197 $ 26
====== ====== ====== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMSG Jorf Jorf Inter- CMSG
Jorf Lasfar Jorf Lasfar CMSG company Investment
Lasfar Handels- Lasfar Power Taweelah Elimina- Co. I/II
II Ltd. bolag I HB Energy HB Ltd. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-in-
capital - - - - 14 (294) 632
Currency
translation - - - - - 113 (113)
Revaluation
capital - - - - - - -
Retained
earnings 25 2 26 24 - (57) 69
------ ------ ------ ---- ------ ----- ------
25 2 26 24 14 (238) 588
Preferred
stock - - - - - - -
Long-term
debt - - - - - - -
Non-current
capital
leases - - - - - - -
------ ------ ------ ----- ------ ------ ------
25 2 26 24 14 (238) 588
------ ------ ------ ----- ------ ------ ------
Current Liabilities
Current
portion of
long-term
debt - - - - - - -
Current
capital
leases - - - - - - -
Notes payable - - - - - (321) 41
Accounts
payable - - - - - - -
Accounts
payable
- related
parties 1 - - - - (1) 5
Accrued
interest - - - - - - 1
Accrued taxes - - - - - - 4
Other - - - - - - -
------ ------ ------ ----- ------ ------ ------
1 - - - - (322) 51
------ ------ ------ ----- ------ ------ ------
Non-current
Liabilities
Postre-
tirement
benefits - - - - - - -
Deferred
income
taxes - - - - - - (24)
Deferred
investment
tax credit - - - - - - -
Other - - - - - - -
------ ------ ------ ----- ------ ------ ------
- - - - - - (24)
------ ------ ------ ----- ------ ------ ------
Total
Stockholders'
Equity
and
Liabilities $ 26 $ 2 $ 26 $ 24 $ 14 $ (560) $ 615
====== ====== ====== ===== ====== ====== ======
<FN>
(8) Represents CMSG Investment Company I and CMSG Investment Company II
consolidated.
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
<CAPTION>
CMS Gas CMS CMS CMS Gas CMS CMS
Transmission CMS Saginaw Saginaw Transmission Gas Jackson
& Storage Antrim Bay Bay Lat. del Sur Argentina Pipeline
Company(9) Company Company Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Natural
gas
trans-
mission,
storage
and pro-
cessing $ - $ 52 $ - $ - $ - $ - $ 10
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
- 52 - - - - 10
Less
accumu-
lated
depreciation,
depletion
and amortiz-
ation - 10 - - - - 2
------ ------ ------ ------ ------ ------ ------
- 42 - - - - 8
Construction
work-in-
progress 2 - - - - - -
------ ------ ------ ------ ------ ------ ------
2 42 - - - - 8
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies 493 - - - - - -
Other 105 - 11 2 27 162 -
------ ------ ------ ------ ------ ------ ------
598 - 11 2 27 162 -
------ ------ ------ ------ ------ ------ ------
Current Assets
Cash and
temporary
cash
investments - - - - - - 1
Accounts
receivable 133 10 - - - - 1
Materials
and supplies - - - - - - -
Prepayments
and other 6 1 - - - - -
------ ------ ------ ------ ------ ------ ------
139 11 - - - - 2
------ ------ ------ ------ ------ ------ ------
Non-current
Assets
Postre-
tirement
benefits - - - - - - -
Other 31 - - - - - -
------ ------ ------ ------ ------ ------ ------
31 - - - - - -
------ ------ ------ ------ ------ ------ ------
Total Assets $ 770 $ 53 $ 11 $ 2 $ 27 $ 162 $ 10
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS CMS Con- CMS CMS Gas CMS CMS
Marysville CMS tinential Energy Trans. of Goldfields Grand Lacs
Gas Liquids Methanol Nat. Gas, Chile Australia Gas Trans. Holding
Company Company Inc. Limitada Trust Aust. Pty. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and
Property
(At Cost)
Natural
gas trans-
mission,
storage
and pro-
cessing $ 3 $ - $ 172 $ - $ 41 $ - $ 29
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
3 - 172 - 41 - 29
Less
accumu-
lated
deprecia-
tion,
depletion
and amor-
tization - - 2 - 3 - 5
------ ------ ------ ------ ------ ------ ------
3 - 170 - 38 - 24
Construc-
tion work-
in-progress - - - - 1 - 1
------ ------ ------ ------ ------ ------ ------
3 - 170 - 39 - 25
------ ------ ------ ------ ------ ------ ------
Investments
Associated
companies - - - - - - -
Other 15 22 - 70 - 114 -
------ ------ ------ ------ ------ ------ ------
15 22 - 70 - 114 -
------ ------ ------ ------ ------ ------ ------
Current
Assets
Cash and
temporary
cash
invest-
ments - - 19 - 3 - -
Accounts
receivable 4 - 32 - 22 - 3
Materials
and supplies - - - - - - -
Prepayments
and other 1 - 2 - - - -
------ ------ ------ ------ ------ ------ ------
5 - 53 - 25 - 3
------ ------ ------ ------ ------ ------ ------
Non-current
Assets
Postretire-
ment
benefits - - - - - - -
Other 11 - - - - - 1
------ ------ ------ ------ ------ ------ ------
11 - - - - - 1
------ ------ ------ ------ ------ ------ ------
Total
Assets $ 34 $ 22 $ 223 $ 70 $ 64 $ 114 $ 29
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Assets
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Cherokee Inter- CMS Gas
Gas company Tran. & Stor.
Processing Elimina- Company
L.L.C. tions Consol.
<S> <C> <C> <C>
Plant and Property (At Cost)
Natural gas transmission,
storage and processing $ 35 $ - $ 342
Other - - -
------ ------ ------
35 - 342
Less accumulated depreciation,
depletion and amortization - - 22
------ ------ ------
35 - 320
Construction work-in-progress - - 4
------ ------ ------
35 - 324
------ ------ ------
Investments
Associated companies - (493) -
Other - - 528
------ ------ ------
- (493) 528
------ ------ ------
Current Assets
Cash and temporary cash
investments - - 23
Accounts receivable 4 (112) 97
Materials and supplies - - -
Prepayments and other - - 10
------ ------ ------
4 (112) 130
------ ------ ------
Non-current Assets
Postretirement benefits - - -
Other - - 43
------ ------ ------
- - 43
------ ------ ------
Total Assets $ 39 $ (605) $1,025
====== ====== ======
<FN>
(9) Represents CMS Gas Transmission and Storage Company, Petal Gas
Storage Company and Grand Lacs Limited Partnership
consolidated.
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
CMS Gas CMS CMS CMS Gas CMS CMS
Transmission CMS Saginaw Saginaw Transmission Gas Jackson
& Storage Antrim Bay Bay Lat. del Sur Argentina Pipeline
Company(9) Company Company Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-
capital 663 - 10 3 27 137 2
Currency
trans-
lation (15) - - - - - -
Retained
earnings 8 1 (1) (1) - 25 1
------ ------ ------ ------ ------ ------ ------
656 1 9 2 27 162 3
Preferred
stock - - - - - - -
Long-
term debt - 39 - - - - 4
Non-current
capital
leases - - - - - - -
------ ------ ------ ------ ------ ------ ------
656 40 9 2 27 162 7
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current
portion
of long-
term
debt - 6 - - - - 1
Current
capital
leases - - - - - - -
Notes
payable 92 - - - - - -
Accounts
payable 1 - - - - - -
Accounts
payable
- related
parties 5 - - - - - -
Accrued
interest 1 - - - - - -
Accrued taxes (2) 1 - - - - -
Other - - - - - - -
------ ------ ------ ------ ------ ------ ------
97 7 - - - - 1
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postretire-
ment
benefits 2 - - - - - -
Deferred
income
taxes 15 6 2 - - - 1
Deferred
investment
tax credit - - - - - - -
Other - - - - - - 1
------ ------ ------ ------ ------ ------ ------
17 6 2 - - - 2
------ ------ ------ ------ ------ ------ ------
Total
Stock-
holders'
Equity
and
Liabili-
ties $ 770 $ 53 $ 11 $ 2 $ 27 $ 162 $ 10
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS Con- CMS CMS Gas CMS CMS
Marysville CMS tinential Energy Trans. of Goldfields Grand Lacs
Gas Liquids Methanol Nat. Gas, Chile Australia Gas Trans. Holding
Company Company Inc. Limitada Trust Aust. Pty. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capital-
ization
Common
Stock-
holders'
Equity
Common
stock $ - $ - $ - $ - $ - $ - $ -
Other
paid-
in-
capital 31 22 86 70 67 - 28
Currency
transla-
tion - - - - (13) (2) -
Retained
earnings 1 - (2) - 6 - (1)
------ ------ ------ ------ ------ ------ ------
32 22 84 70 60 (2) 27
Preferred
stock - - - - - - -
Long-term
debt - - 50 - - - -
Non-current
capital
leases - - 5 - - - -
------ ------ ------ ------ ------ ------ ------
32 22 139 70 60 (2) 27
------ ------ ------ ------ ------ ------ ------
Current
Liabilities
Current
portion
of long-
term
debt - - - - - - -
Curren
capital
leases - - 1 - - - -
Notes
payable - - 6 - - 116 -
Accounts
payable 1 - 33 - 1 - -
Accounts
payable
- related
parties - - 11 - - - -
Accrued
interest - - - - - - -
Accrued
taxes 1 - - - 3 - 1
Other - - 14 - - - -
------ ------ ------ ------ ------ ------ ------
2 - 65 - 4 116 1
------ ------ ------ ------ ------ ------ ------
Non-current
Liabilities
Postretire-
ment
benefits - - - - - - -
Deferred
income
taxes - - 9 - - - 1
Deferred
investment
tax credit - - - - - - -
Other - - 10 - - - -
------ ------ ------ ------ ------ ------ ------
- - 19 - - - 1
------ ------ ------ ------ ------ ------ ------
Total
Stock-
holders'
Equity
and
Liabili-
ties $ 34 $ 22 $ 223 $ 70 $ 64 $ 114 $ 29
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Cherokee Inter- CMS Gas
Gas company Tran. & Stor.
Processing Elimina- Company
L.L.C. tions Consol.
<S> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ -
Other paid-in-capital 23 (506) 663
Currency translation - 15 (15)
Retained earnings 4 (33) 8
------ ------ ------
27 (524) 656
Preferred stock - - -
Long-term debt - - 93
Non-current capital leases - - 5
------ ------ ------
27 (524) 754
------ ------ ------
Current Liabilities
Current portion of long-term
debt - - 7
Current capital leases - - 1
Notes payable - (111) 103
Accounts payable 1 30 67
Accounts payable - related
parties - - 16
Accrued interest - - 1
Accrued taxes - - 4
Other 1 - 15
------ ------ ------
2 (81) 214
------ ------ ------
Non-current Liabilities
Postretirement benefits - - 2
Deferred income taxes - - 34
Deferred investment tax credit - - -
Other 10 - 21
------ ------ ------
10 - 57
------ ------ ------
Total Stockholders' Equity
and Liabilities $ 39 $ (605) $1,025
====== ====== ======
<FN>
(9) Represents CMS Gas Transmission and Storage Company, Petal Gas
Storage Company and Grand Lacs Limited Partnership
consolidated.
</TABLE>
<TABLE>
CMS ENERGY CORPORATION
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
Consumers CMS Inter-
Energy Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Balance at
January 1, 1998 $ (379) $ 363 $ (320) $ (43) $ (379)
Net Income (Loss) 305 349 98 (416) 336
Less Dividends Paid
Common Stock - CMS
Energy 129 - - - 129
Class G 11 - - - 11
Preferred Stock - 19 10 (10) 19
Preferred
Securities
Distribution 14 18 - - 32
Associated
Companies 6 241 83 (330) -
------ ------ ------ ------ ------
160 278 93 (340) 191
------ ------ ------ ------ ------
Balance at
December 31, 1998 $ (234) $ 434 $ (315) $ (119) $ (234)
====== ====== ====== ====== ======
<FN>
(1) Represents CMS Energy Corporation with Consumers Energy
Company and CMS Enterprises Company included on the equity
method of accounting.
</TABLE>
<TABLE>
CONSUMERS ENERGY COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Energy Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
January 1,
1998 $ 364 $ 24 $ 2 $ 23 $ 47 $ (95) $ 363
Net Income
(Loss) 349 2 1 9 25 (37) 349
Less
Dividends
Paid
Common
Stock - - - - - - -
Preferred
Stock 19 - - - - - 19
Preferred
Securities
Distribu-
tion 18 - - - - - 18
Associated
Companies 242 - - - - (1) 241
------ ------ ------ ------ ------ ------ ------
279 - - - - (1) 278
------ ------ ------ ------ ------ ------ ------
Balance
at December
31, 1998 $ 434 $ 26 $ 3 $ 32 $ 72 $ (133) $ 434
====== ====== ====== ====== ====== ====== ======
<FN>
(2) Represents Consumers Energy Company, CMS Engineering Company,
Consumers EnergyGuard Services, Inc. and ES Services Company
consolidated with Michigan Gas Storage Company, CMS Midland
Holdings Company, CMS Midland, Inc. and Huron Hydrocarbons,
Inc. included on the equity method of accounting.
</TABLE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS CMS CMS CMS Gas
CMS Oil and Generation Resource Electric CMS Tran. & Stor.
Enterprises Gas Co. Company Dev. & Gas MS & T Company
Company(3) Consol. Consol. Co. Company Company Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
January 1,
1998 $ (324) $ 64 $(153) $ 3 $ (2) $ 3 $ 8
Net Income
(Loss) 98 6 74 - (13) 2 22
Less Dividends
Paid
Common Stock - - - - - - -
Preferred
Stock 10 - - - - - -
Associated
Companies 83 - 48 - - - 22
------ ------ ------ ------ ------ ------ ------
93 - 48 - - - 22
------ ------ ------ ------ ------ ------ ------
Balance at
December 31,
1998 $ (319) $ 70 $(127) $ 3 $ (15) $ 5 $ 8
====== ====== ===== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
CMS CMS company Enterprises
Land Capital Elimina- Company
Company Corp. tions Consol.
<S> <C> <C> <C> <C>
Balance at
January 1, 1998 $ 8 $ 1 $ 72 $ (320)
Net Income (Loss) 5 4 (100) 98
Less Dividends Paid
Common Stock - - - -
Preferred Stock - - - 10
Associated
Companies 13 - (83) 83
------ ------ ------ ------
13 - (83) 93
------ ------ ------ ------
Balance at
December 31, 1998 $ - $ 5 $ 55 $ (315)
====== ====== ====== ======
<FN>
(3) Represents CMS Enterprises Company, CMS Capital Financial
Services, Inc., CMS Lake Muskegon Company and Monarch
Management Company consolidated with CMS Oil and Gas
Company, CMS Generation Company, CMS Land Company,
CMS Capital Corporation, CMS Marketing, Services and
Trading Company, CMS Gas Transmission and Storage
Company, CMS Resource Development Company and
CMS Electric and Gas Company included on the equity
method of accounting.
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS NOMECO CMS CMS NOMECO CMS CMS
CMS NOMECO Inter- NOMECO Eq. Guinea NOMECO NOMECO
Oil and Gas Congo national Ecuador Oil & Gas Holdings E.G.
Company(4) Ltd. Ltd. LDC Co. Ltd. LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Balance
at January
1, 1998 $ 64 $ - $ (44) $ (33) $ - $ 4 $ 1
Net Income
(Loss) 6 1 6 3 - - -
Less Dividends
Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated
Companies - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Balance at
December 31,
1998 $ 70 $ 1 $ (38) $ (30) $ - $ 4 $ 1
====== ====== ===== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS Explota- Terra CMS CMS CMS
NOMECO NOMECO ciones Energy, NOMECO NOMECO NOMECO
E.G. China Oil CMS NOMECO Ltd. Interna. Venezuela Alba
Ltd. Company Inc. Consol. Inc. Consol. LDC LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Balance
at January
1, 1998 $ - $ (2) $ (10) $ 22 $ 21 $ (3) $ 1
Net Income
(Loss) 3 - - 6 (7) - -
Less Dividends
Paid
Common Stock - - - - - - -
Preferred
Stock - - - - - - -
Associated
Companies - - - - - - -
------ ------ ------ ------ ------ ------ ------
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Balance at
December 31,
1998 $ 3 $ (2) $ (10) $ 28 $ 14 $ (3) $ 1
====== ====== ====== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Balance at January 1, 1998 $ 43 $ 64
Net Income (Loss) (12) 6
Less Dividends Paid
Common Stock - -
Preferred Stock - -
Associated Companies - -
------ ------
- -
------ ------
Balance at December 31, 1998 $ 31 $ 70
====== ======
<FN>
(4) Represents CMS Oil and Gas Company and CMS NOMECO Pipeline
Company consolidated with CMS NOMECO International, Inc. and
Terra Energy, Ltd. included on the equity method of
accounting.
</TABLE>
<TABLE>
CMS OIL AND GAS INTERNATIONAL, INC.
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
CMS CMS
CMS NOMECO CMS CMS NOMECO
Oil & Gas Inter- NOMECO NOMECO, Int'l Inter- CMS
Inter- national Inter Eq. Int'l Cote company NOMECO
national Congo, Guinea, Tunisia D'Ivoire Elimina- Inter.Inc.
Inc. (5) Inc. Inc. Inc. Inc. ions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
January 1,
1998 $ 21 $ 14 $ (1) $ 1 $ - $ (14) $ 21
Net Income
(Loss) (7) (1) 1 - (4) 4 (7)
Less Dividends Paid
Common Stock - - - - - - -
Preferred
Stock - - - - - - -
Associated
Companies - - - - - - -
------ ------ ------ ------ ----- ------ ------
- - - - - - -
------ ------ ------ ------ ----- ------ ------
Balance at
December 31,
1998 $ 14 $ 13 $ - $ 1 $ (4) $ (10) $ 14
====== ====== ====== ====== ====== ====== ======
<FN>
(5) Represents CMS NOMECO International, Inc., CMS NOMECO
International Cameroon, Inc. and CMS NOMECO International
Transportation, Inc. consolidated.
</TABLE>
<TABLE>
TERRA ENERGY, LTD.
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
Energy Inter-
Terra Terra Acquis. company Terra
Energy, Pipeline Kristen Oper. Elimina- Energy,
Ltd. Co. Corp. Co. tions Ltd. Consol.
<S> <C> <C> <C> <C> <C> <C>
Balance at
January 1, 1998 $ 22 $ - $ 3 $ 1 $ (4) $ 22
Net Income 6 - - - - 6
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated
Companies - - - - - -
------ ------ ------ ------ ------ ------
- - - - - -
------ ------ ------ ------ ------ ------
Balance at
December 31, 1998 $ 28 $ - $ 3 $ 1 $ (4) $ 28
====== ====== ====== ====== ====== ======
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
CMSG CMSG CMSG CMSG
CMS Honey Filer CMSG Grayling CMSG Int'l
Generation Lake City Holdings Holdings Recycling Operating
Co.(6) Company Inc. Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
January 1,
1998 $ (153) $ 12 $ 4 $ (12) $ (2) $ - $ -
Net Income
(Loss) 75 6 2 10 1 - 2
Less
Dividends
Paid
Common
Stock - - - - - - -
Preferred
Stock - - - - - - -
Associated
Companies 48 - 1 5 2 1 -
------ ------ ------ ------ ------ ------ ------
48 - 1 5 2 1 -
------ ------ ------ ------ ------ ------ ------
Balance at
December 31,
1998 $ (126) $ 18 $ 5 $ (7) $ (3) $ (1) $ 2
====== ====== ====== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
HYDRA-CO Jorf CMS CMSG
CMS Enter- Lasfar CMSG Morocco Inv. Co.
Generation prises CTM Operations Grayling Operating I/II
S.A. Consol. Consol. Handelsb. Company Co. SCA Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
January 1,
1998 $ (1) $ (51) $ (1) $ - $ (3) $ - $ 12
Net Income
(Loss) (1) 22 - 2 - 2 57
Less Dividends
Paid
Common
Stock - - - - - - -
Preferred
Stock - - - - - - -
Associated
Companies - 36 - - 1 - -
------ ------ ------ ------ ------ ------ ------
- 36 - - 1 - -
------ ------ ------ ------ ------ ------ ------
Balance at
December 31,
1998 $ (2) $ (65) $ (1) $ 2 $ (4) $ 2 $ 69
====== ====== ====== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Jeguru- CMS Inter- CMS
padu CMSG Generation company Generation
CMSG Altoona Inv. Co. Elimina- Company
Ltd. Company III tions Consol.
<S> <C> <C> <C> <C> <C>
Balance at January 1,
1998 $ 1 $ 1 $ 1 $ 39 $ (153)
Net Income (Loss) 3 2 2 (111) 74
Less Dividends Paid
Common Stock - - - - -
Preferred Stock - - - - -
Associated Companies - - - (46) 48
------ ------ ------ ------ ------
- - - (46) 48
------ ------ ------ ------ ------
Balance at
December 31, 1998 $ 4 $ 3 $ 3 $ (26) $ (127)
====== ====== ====== ====== ======
<FN>
(6) Represents CMS Generation Company, CMSG GP Company, CMSG Filer
City Operating Company, CMSG Mon Valley Company, CMSG Genesee
Company, CMSG Operating Company, CMSG Lyonsdale Company, CMSG
Chateaugay Company, Mid-Michigan Recycling L.L.C., CMSG
Montreal Company, Oxford Tire Supply, Inc., OTR of
Massachusetts, Inc., Oxford/CMS Development L.P. and CMS Jorf
Lasfar III LDC consolidated with HYDRA-CO Enterprises, Inc.,
CMS Centrales Termicas S.A., CMSG Investment Company I and
CMSG Investment Company II included on the equity method of
accounting.
</TABLE>
<TABLE>
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
HYDRA-CO CMS New HCE
Enter- HCE Generation Bern Rockfort CMSG Lakewood
prises, Hudson, Oper. Co. Project Diesel, Stratton Cogen.
Inc.(7) Inc. II Mgt.Inc. Inc. Co. L.P.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
January 1,
1998 $ (51) $ 2 $ (2) $ 1 $ 1 $ - $ -
Net Income
(Loss) 22 1 1 - - 13 1
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated
Companies 36 - - - - 28 -
------ ------ ------ ------ ------ ------ ------
36 - - - - 28 -
------ ------ ------ ------ ------ ------ ------
Balance at
December 31,
1998 $ (65) $ 3 $ (1) $ 1 $ 1 $ (15) $ 1
====== ====== ====== ====== ====== ====== ======
(Continued on Following Page)
</TABLE>
<TABLE>
HYDRA-CO ENTERPRISES, INC.
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- HYDRO-CO
Company Enter-
Elimina- prises
tions Consol.
<S> <C> <C>
Balance at January 1, 1998 $ (2) $ (51)
Net Income (Loss) (16) 22
Less Dividends Paid
Common Stock - -
Preferred Stock - -
Associated Companies (28) 36
------ ------
(28) 36
------ ------
Balance at
December 31, 1998 $ 10 $ (65)
====== ======
<FN>
(7) Represents HYDRA-CO Enterprises, Inc., HCE Appomattox, Inc.,
HCE Jamaica Development, Inc., HCE Lakewood, Inc. and HCE
Imperial Valley, Inc. consolidated.
</TABLE>
<TABLE>
CMS CENTRALES TERMICAS S.A.
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
Centrales Inter-
CMS Cuyana Termicas CMS company
Operating S.A. de Mendoza Ensenada Elimina- CTM
S.A. Inversiones S.A. S.A. tions Consol.
<S> <C> <C> <C> <C> <C> <C>
Balance at
January 1, 1998 $ (1) $ (3) $ 1 $ (1) $ 3 $ (1)
Net Income - 3 2 (1) (4) -
Less Dividends Paid
Common Stock - - - - - -
Preferred Stock - - - - - -
Associated
Companies - - - - - -
------ ------ ------ ------ ------ ------
- - - - - -
------ ------ ------ ------ ------ ------
Balance at
December 31, 1998 $ (1) $ - $ 3 $ (2) $ (1) $ (1)
====== ====== ===== ====== ====== ======
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
CMSG CMSG CMSG CMSG
CMSG CMSG CMSG Loy Yang Loy Yang Jorf Jorf
Inv. Co. Pinamucan Cebu Holdings Holdings Lasfar Lasfar
I/II(8) LDC LDC 1 Ltd. 2 Ltd. I LDC II LDC
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January
1, 1998 $ 12 $ (1) $ 3 $ (9) $ (9) $ - $ -
Net Income (Loss) 57 (1) - (14) (14) 25 25
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated
Companies - - - - - - -
------ ------ ------ ------ ------ ------ -----
- - - - - - -
------ ------ ------ ------ ------ ------ ------
Balance at
December 31, 1998 $ 69 $ (2) $ 3 $ (23) $ (23) $ 25 $ 25
====== ====== ===== ====== ====== ====== ======
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GENERATION INVESTMENT COMPANY I/II
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
Jorf Jorf Inter- CMSG
Lasfar Jorf Lasfar company Investment
Handels- Lasfar Power Elimina- Co. I/II
bolag I HB Energy HB tions Consol.
<S> <C> <C> <C> <C> <C>
Balance at January 1, 1998 $ - $ - $ - $ 16 $ 12
Net Income (Loss) 2 26 24 (73) 57
Less Dividends Paid
Common Stock - - - - -
Preferred Stock - - - - -
Associated Companies - - - - -
------ ------ ------ ------ ------
- - - - -
------ ------ ------ ------ ------
Balance at December 31, 1998 $ 2 $ 26 $ 24 $ (57) $ 69
====== ====== ===== ====== ======
<FN>
(8) Represents CMSG Investment Company I, CMSG Investment Company
II, Jegurupadu O&M Company Mauritius and CMSG Taweelah Ltd.
consolidated.
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
<CAPTION>
CMS Gas CMS CMS CMS CMS Grand
Transmission CMS Saginaw Gas Saginaw Jackson Lacs
& Storage Antrim Bay Argentina Bay Lat. Pipeline Limited
Company(9) Company Company Company Company Company Part.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
January 1,
1998 $ 8 $ 16 $ (1) $ 14 $ (1) $ - $ (2)
Net Income
(Loss) 22 4 1 11 - 1 2
Less Dividends
Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated
Companies 22 19 1 - - - -
------ ------ ------ ------ ------ ------ ------
22 19 1 - - - -
------ ------ ------ ------ ------ ------ ------
Balance at
December 31,
1998 $ 8 $ 1 $ (1) $ 25 $ (1) $ 1 $ -
====== ====== ===== ====== ====== ====== =====
<FN>
(Continued on Following Page)
</TABLE>
<TABLE>
CMS GAS TRANSMISSION AND STORAGE COMPANY
Consolidating Statement of Retained Earnings
December 31, 1998
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMS CMS Con- CMS Gas Cherokee CMS Inter- CMS Gas
Marysville tinential Trans. of Gas Grand Lacs Company Tran. &Stor.
Gas Liquids Nat. Gas, Australia Processing Holding Elimina- Company
Company Inc. Trust L.L.C. Company tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance
at January
1, 1998 $ - $ - $ 3 $ 4 $ (1) $ (32) $ 8
Net
Income
(Loss) 1 (2) 3 - 2 (23) 22
Less
Dividends
Paid
Common
Stock - - - - - - -
Preferred
Stock - - - - - - -
Associated
Companies - - - - 2 (22) 22
------ ------ ------ ------ ------ ------ ------
- - - - 2 (22) 22
------ ------ ------ ------ ------ ------ ------
Balance
at Decem-
ber 31,
1998 $ 1 $ (2) $ 6 $ 4 $ (1) $ (33) $ 8
====== ===== ====== ====== ====== ====== ======
<FN>
(9) Represents CMS Gas Transmission and Storage Company and Petal
Gas Storage Company consolidated.
</TABLE>
<PAGE>
<PAGE>
EXHIBIT B
Exhibit B - Financial Data Schedule
CMS Energy Corporation
Consolidated Year Ended December 31, 1998
(Millions of Dollars)
Total Assets $11,310
Total Operating Revenue $ 5,141
Net Income $ 285
<PAGE>
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS ENSENADA S.A.
(Ensenada)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* 99% *
* *
* *CMS Generation Holdings Company
* 1%* *
* * *
* * *
CMS Operating S.A. * 1%
| * *
Operator | * 99% *
| * *
------------ CMS Ensenada S.A.*****
CMS Operating S.A., which is 99% owned by CMS Generation Co., owns 99% of
CMS Ensenada S.A., the EWG. CMS Generation Holdings Co., which is owned
100% by CMS Generation Co., owns 1% of CMS Ensenada S.A., the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS GENERATION CEBU LIMITED DURATION COMPANY
(Cebu)
and
CMS GENERATION CEBU OPERATING LIMITED DURATION COMPANY
(Cebu Operating)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
CMS Generation Investment Co. I CMS Generation Investment Co. II
* 99% * 99% * 1% * 1%
* * * *
* * * *
* * *
* * * *
CMS Generation Cebu Limited CMS Generation Cebu Operating
Duration Company Limited Duration Company
* |
* | Operator
* 47.5% |
Toledo Power Company---------
CMS Generation Investment Company I and CMS Generation Investment Company
II, each owned 100% by CMS Generation Co., own 99% and 1%, respectively,
of CMS Generation Cebu Limited Duration Company, the EWG.
CMS Generation Investment Company I and CMS Generation Investment Company
II, each owned 100% by CMS Generation Co., own 99% and 1%, respectively,
of CMS Generation Cebu Operating Limited Duration Company, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS Generation Horizon Energy Holdings Limited
(CMSG Horizon)
and
Horizon Energy Holdings Limited
(Horizon Energy)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
*
CMS Generation Investment Co. I
* *
* *
* *
CMS Generation Loy Yang Holdings 1 Ltd. CMS Generation Loy Yang
Holdings 2 Ltd.
* *
* *
* *
Horizon Energy Holdings Ltd. CMS Generation Horizon Energy
Holdings Ltd.
24.63%* * 25%
* *
* *
Loy Yang Power (1)
CMS Generation Investment Company I owns 100% of Horizon Energy Holdings
Limited, the foreign utility company.
CMS Generation Investment Company I owns 100% of CMS Generation Horizon
Energy Holdings Ltd., the foreign utility company.
(1) Horizon Energy Partners, which has foreign utility company authorization,
has changed its name to Loy Yang Power.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS GENERATION OPERATING COMPANY
CMS Energy Corporation
*
*
*
CMS Enterprises
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Operating Company
CMS Generation Co., a wholly-owned subsidiary of CMS Enterprises, owns
100% of CMS Generation Operating Company, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS GENERATION MICHIGAN POWER LLC
CMS Energy Corporation
*
*
*
CMS Enterprises
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Michigan Power LLC
CMS Generation Co., a wholly-owned subsidiary of CMS Enterprises, owns
100% of CMS Generation Michigan Power LLC, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS MOROCCO OPERATING COMPANY SCA
(CMS Morocco)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
******CMS International CMS Generation
* Operating Company Investment Company I* *
*.1% * 99% * 50% * 50% *
* * * * *
* * * * *
* * CMS Generation Jorf Lasfar III *
* * Limited Duration Company *
* * * 1% * * .1%
* * * * *
* * * * *
* Jorf Lasfar Operations Handelesbolag * *
* * * *
* * 99.7% *.1% *
* * * *
* * * *
* * * * * * * * * * * * CMS Morocco Operating Company SCA* * *
Jorf Lasfar Operations Handelesbolag, owned 99% by CMS International
Operating Company and 1% by CMS Generation Jorf Lasfar III Limited
Duration Company, owns 99.7% of CMS Morocco Operating Company SCA
("CMS Morocco"), the EWG. CMS International Operating Company and
CMS Generation Investment Company I, each owned 100% by CMS Generation
Co., each own .1% of CMS Morocco, the EWG. CMS Generation Jorf Lasfar III
Limited Duration Company, owned 50% by CMS International Operating Company
and 50% by CMS Investment Company I, owns .1% of CMS Morocco, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS OPERATING S.A.
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
*******CMS Generation Co.*********
* * *
* * *
* * *
CMS Generation Holdings * *
Company * * *
* 1% * *
* * 99% * 99%
CMS Operating S.A. CMS Centrales Termicas S.A.
Operating & | * | | * *
Maintenance | * | | * *
Agreement | *99% | | * 99% * 1%
| * | | Cuyana S.A. de Inversiones
CMS Ensenada S.A. | | *
| |--Consulting *
| | Agreement * 92.6%
Consulting | | *
Agreement----- | |-----Centrales Termicas Mendoza, S.A.
(Jan-May 1997) |
|
Empresa Distribuidora de Electricidad de Entre Rios S.A. (EDEER)
CMS Generation Co. and CMS Generation Holdings Company own 99% and 1%,
respectively, of CMS Operating S.A., the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CMS GENERATION PINAMUCAN LIMITED DURATION COMPANY
(Pinamucan)
and
CMS GENERATION PINAMUCAN OPERATING LIMITED DURATION COMPANY
(Pinamucan Operating)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
CMS Generation Investment Co. I CMS Generation Investment Co. II
* 99% * 99% * 1% * 1%
* * * *
* * *
* * * *
CMS Generation Pinamucan CMS Generation Pinamucan Operating
Limited Duration Company Limited Duration Company
* |
44%* |
* | Operator
Magellan Cogeneration Inc.
CMS Generation Investment Company I and CMS Generation Investment
Company II, each owned 100% by CMS Generation Co., owns 99% and 1%,
respectively, of CMS Generation Pinamucan Limited Duration Company, the
EWG.
CMS Generation Investment Company I and CMS Generation Investment
Company II, each owned 100% by CMS Generation Co., owns 99% and 1%,
respectively, of CMS Generation Pinamucan Operating Limited Duration
Company, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
CENTRALES TERMICAS SAN NICOLAS, S.A. (CTSN)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
* .1%
CMS Generation San Nicolas Company
*
*
* .1%
Inversora de San Nicolas, S.A.
*
*
* 88%
Centrales Termicas San Nicolas, S.A.
CMS Generation San Nicolas Company, owned .1% by CMS Generation Co., owns
.1% of Inversora de San Nicolas, which in turn owns 88% of Centrales
Termicas San Nicolas, S.A., the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
Compania Forca E Luz Cataguazes - Leopoldina
(Cataguazes)
and
Empresa Energetica de Sergipe S.A.
(Energipe)
CMS Energy
*
*
CMS Enterprises
*
*
CMS Electric and Gas Company
* *
* *
**********CMS Brazil Energia Ltda. CMS Distribuidora Ltda.
0.41% * * * * *
* * * * *
Itacatu, SA * 49.9% * * *
* * * * *
* 50.1% * * * *
********* GIPAR, S.A. * * *
* * * 29.3% * *
* * * * 9.89% *
3.5% * * 19.51% * * *
* * * * *
***********Cataguazes************** *
* * * 4.92%
* * 86.47% *
* * *
* ENERGISA *
12.18% * * *
* * 83.8% *
* * * * * * *Energipe ********
CMS Brazil Energia Ltda., 100% owned by CMS Electric and Gas, owns 29.5%
of Cataguazes, the foreign utility company. CMS Brazil Energia Ltda. owns
49.9% of GIPAR S.A., which owns 19.51% of Cataguazes, the foreign utility
company. CMS Distribuidora Ltda., 100% owned by CMS Electric and Gas,
owns 9.89% of Cataguazes, the foreign utility company.
Cataguazes owns 12.18% of Energipe, the foreign utility company.
ENERGISA, 86.47% owned by Cataguazes, owns 83.8% of Energipe, the foreign
utility company. CMS Distribuidora Ltda., 100% owned by CMS Electric and
Gas, owns 4.92% of Energipe, the foreign utility company.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system
Empresa Distribuidora de Electricidad de Entre Rios S.A.
(EDEER)
CMS Energy Corporation
*
*
*
*
CMS Enterprises Company
*
*
*
*
-------------------CMS Electric and Gas Company
| *
| *
| Compania de Inversiones en Energia Electrica S.A.
| *
| * 53.3%
Consulting | Inversora en Distribucion de Entre Rios S.A.
Agreement | *
| *
| * 90%
| *
| *
|---Empresa Distribuidora de Electricidad de Entre Rios S.A.
CMS Electric and Gas Company, which is 100% owned by CMS Enterprises
Company, owns 100% of Compania de Inversiones en Energia Electrica,
S.A.(CIEESA). CIEESA owns 53.3% of Inversora en Distribucion de Entre
Rios S.A., which owns 90% of Empresa Distribuidora de Electricidad de
Entre Rios S.A., the foreign utility company.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
GMR VASAVI POWER CORPORATION PRIVATE LIMITED
(GMR Vasavi)
CMS Energy
*
*
*
*
CMS Enterprises
*
*
*
*
CMS Generation Co.
*
*
*
*
CMS Generation Investment Co. I
*
*
*
*
Monetize Limited
*
* 49%
*
*
GMR Vasavi Power Corporation Private Limited
Monetize Limited, a wholly-owned subsidiary of CMS Generation Investment
Company I, owns 49% of GMR Vasavi Power Corporation Private Limited, the
EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
GVK INDUSTRIES LIMITED
(GVK)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Company III
*
*
*
Jegurupadu CMS Generation Company Ltd.
*
* 18.75%
*
GVK Industries Ltd.
Jegurupadu CMS Generation Company Ltd., a wholly-owned subsidiary of
CMS Generation Investment Company III, owns 18.75% of GVK Industries Ltd.,
the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
HIDROELECTRICA EL CHOCON, S.A.
(Hidroelectrica)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
******CMS Generation Co.
* *
* *
* * (99%)
* CMS Generation, S.A.
* *
* *
* * 25%
* Hidroinvest, S.A.
* *
* *
* 2.48% * 59%
**********Hidroelectrica El Chocon, S.A.
CMS Generation Co. directly owns 2.48% of Hidroelectrica El Chocon, S.A.
CMS Generation, S.A., owned 99% by CMS Generation Co., owns 25% of
Hidroinvest which in turn owns 59% of Hidroelectrica El Chocon, S.A., the
EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
JAMAICA PRIVATE POWER COMPANY LIMITED
(Jamaica Private Power)
and
Private Power Operators Limited
(Private Power Operators)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
HYDRA-CO ENTERPRISES, INC.
* *
* *
* *
CMS Generation Operating Company II, Inc. HCE-Rockfort Diesel, Inc.
* *
* * 41.2%
* *
HCO-Jamaica, Inc. Jamaica Private Power
* Company Limited
* 50%
*
Private Power Operators Limited
(Operator)
HCE-Rockfort Diesel, Inc., owned 100% by HYDRA-CO Enterprises, Inc., owns
41.2% Jamaica Private Power Company Limited, the EWG.
HCO-Jamaica, Inc., owned 100% by CMS Generation Operating Company II,
Inc., owns 50% of Private Power Operators Limited, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
JEGURUPADU OPERATING AND MAINTENANCE COMPANY
(Jegurupadu Operating)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
CMS Generation Investment Co. I CMS Generation Investment Co. II
* 99% 99% * * 1% * 1%
* * * *
* * * *
* * * *
CMS Generation Jegurupadu I CMS Generation Jegurupadu II
Limited Duration Company Limited Duration Company
* *
50% * * 50%
Jegurupadu O&M Company Mauritius
*
* 60%
*
Jegurupadu Operating and Maintenance Company
| (Operator)
|
|
GVK Industries Ltd.
Jegurupadu O&M Company Mauritius, owned 50% by CMS Generation Jegurupadu I
Limited Duration Company and 50% by CMS Generation Jegurupadu II Limited
Duration Company, owns 60% of Jegurupadu Operating and Maintenance
Company, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
JORF LASFAR ENERGY COMPANY SCA
(Jorf Lasfar)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
* *
* *
* *
CMS Generation Investment Company I CMS Generation Investment Company II
* 99% * 99% * 1% * 1%
* * * *
* * *
* * * *
CMS Generation Jorf Lasfar I Limited CMS Generation Jorf Lasfar II
Duration Company 50% * * * 50% Limited Duration Company
* 50% * * * * 50%
* * * * *
* * *50% * *50% *
* * * * *
* * * * * *
Jorf Lasfar Handelsbolag Jorf Lasfar I HB Jorf Lasfar Power Energy HB
* 2% * 25% * 23%
* * *
* * *
****************Jorf Lasfar Energy Company SCA
Jorf Lasfar Handelsbolag, Jorf Lasfar I HB and Jorf Lasfar Power Energy
HB, each owned 50% by CMS Generation Jorf Lasfar I Limited Duration
Company and each owned 50% by CMS Generation Jorf Lasfar II Limited
Duration Company, owns 2%, 25% and 23%, respectively, of Jorf Lasfar
Energy Company SCA, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
LAKEWOOD COGENERATION, LP
(Lakewood)
and
CMS Generation Operating Company II, Inc.
(CMSG Operating Company II)
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
----------HYDRA-CO Enterprises, Inc.**********
| * *
| * *
CMS Generation Operating * *
Company II, Inc. * *
(Operator) * *
| * * 80%
| * *
| HCE-Lakewood, Inc. *
| * *
| * *
| * 1% *
-----------------Lakewood Cogeneration, LP****
HYDRA-CO Enterprises, Inc., the wholly owned subsidiary of CMS Generation
Co., owns 100% of HCE-Lakewood, which in turn owns 1% of Lakewood
Cogeneration, LP, the EWG. Additionally, HYDRA-CO Enterprises, Inc.,
directly owns 80% of Lakewood Cogeneration, LP, the EWG, and owns 100% of
CMS Generation Operating Company II, Inc.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
SISTEMA ELECTRICO NUEVA ESPARTA C.A.
(Seneca)
CMS Energy
*
*
*
CMS Enterprises
*
*
*
CMS Electric and Gas Company
*
*
*
CMS Venezuela, S.A.
* |
* |
* 90% |
* |
* | Consulting Agreement
ENELMAR, S.A. | dated Nov. 25, 1998
* | (Effective Jan. 1, 1999)
* 70% |
* |
SENECA-----------|
CMS Venezuela, S.A., 100% owned by CMS Electric and Gas, owns 90% of
ENELMAR, S.A., which owns 70% of SENECA, the foreign utility company.
