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EXHIBIT (99)(b)
ENACTMENT OF MICHIGAN ELECTRIC RESTRUCTURING LEGISLATION
REMOVES UNCERTAINTIES FOR CMS ENERGY CORPORATION
DEARBORN, Mich., June 5, 2000 - Enactment of electric restructuring
legislation in Michigan over the past weekend removes major financial
uncertainties and is a significant, positive development for Consumers Energy,
the principal subsidiary of CMS Energy Corporation (CMS:NYSE), said CMS Energy
Chairman and Chief Executive Officer William T. McCormick, Jr. Michigan Governor
John Engler signed the package of bills into law on Saturday, June 3, one month
after his call for a restructuring bill.
"Legislative action on electric restructuring sweeps away substantial
regulatory uncertainty that had been facing Consumers Energy since this debate
began four and one-half years ago, in late 1995", said McCormick. He noted that
the legislation includes several substantial benefits to the company:
* Full recovery of stranded costs;
* Pending rate proceedings are superseded by a five percent residential
rate cut, the costs of which are likely to be fully offset by
securitization benefits;
* Rate complaint previously filed by the industrial group ABATE is
addressed by rate cut and cap provisions in the bills;
* A market power test in the legislation will allow the company to build
additional needed generating capacity in Michigan and does not require
divestiture of power generation assets;
* The legislation provides for customer choice along with increased
regulatory certainty for the future of the utility business in the
state.
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CMS Energy Corporation has annual sales of more than $6 billion and assets
of about $15 billion throughout the U.S. and around the world with businesses in
electric and natural gas utility operations; independent power production;
natural gas pipelines, gathering, processing and storage; oil and gas
exploration and production; and energy marketing, services and trading.
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For more information on CMS Energy, please visit our website at: www.cmsenergy.
com/
Media Contacts: Kelly M. Farr, 313/436-9253 or John P. Barnett, 713/989-7556
Investments Analyst Contact: CMS Energy Investor Relations, 517/788-2590
