Other companies have taken the risk of building new power plants under Michigan ’s electric deregulation law. Why can’t Consumers Energy do that?
A few power plants have been built, but they are designed to help meet peak customer demand. Those aren’t baseload power plants, the workhorses of the electric supply system. The state’s 21st Century Energy Plan projects that Michigan will need 10 new baseload power plants between 2015 and 2025 to meet growing customer demand for electricity. That state report also projected Michigan customers will pay $2 billion more for electricity if they’re not built. Unfortunately, the state’s existing electric deregulation law is an obstacle to financing and building those plants.
