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CMS Energy : Consumers Energy Provides $100,000 Payment to Jackson Manufacturer for Using Less Energy on Hottest Days

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11/24/2017 | 02:48pm CET

A Jackson manufacturer is being rewarded with an $100,000 incentive from Consumers Energy for its effort to help lower energy costs for homes and businesses across Michigan.

Jackson-based Gerdau today received $100,000 for participating in Consumers Energy's business Demand Response program. The company reduced its energy use on some of this summer's hottest days when the demand for energy - and the cost to supply and deliver that energy-was exceptionally high. That reduces the need to build power plants or purchase expensive power during these high-demand periods.

'Gerdau provides a great example of how large businesses can reduce their energy use, reducing their costs while also providing a sustainable benefit to everyone who uses energy in Michigan,' said Brian Rich, Consumers Energy's senior vice president for customer experience. 'As Michigan's energy needs continue to grow, we look forward to working with Gerdau and other businesses to manage their energy needs at a few critical times each year.'

'Demand Response programs are a win for us, electric customers and Consumers Energy,' said Mark Marcucci, president of Gerdau's North American special steel division based in Jackson. 'Participating in this program and responding to Consumers Energy's call to reduce energy consumption during the highest peak periods decreases costs for everyone.'

Consumers Energy's business Demand Response program this year provided over $1.3 million in financial rewards to over 125 large businesses, such as factories or large municipal facilities.

They reduced their energy use by over 90 megawatt-hours in total on those nine days. That's about as much energy as 140 average Michigan homes use in an entire month.

Consumers Energy also offers a program for households, Peak Power Savers, that encourages Michigan households to reduce energy use at critical times by cycling their air conditioners and taking other voluntary steps.

Gerdau is the leading producer of long steel in the Americas and one of the leading producers of special steel in the world. Gerdau's North American special steel division, based in Jackson, produces high quality engineered carbon and alloy special bar quality steel bars for safety critical applications used by the automotive, commercial vehicle, construction, agricultural, distribution and energy markets.

Consumers Energy, Michigan's largest energy provider, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and/or electricity to 6.7 million of the state's 10 million residents in all 68 Lower Peninsula counties.

Media Contact:

Brian Wheeler

Tel: 517-788-2394

(C) 2017 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2017 6 574 M
EBIT 2017 1 343 M
Net income 2017 610 M
Debt 2017 10 294 M
Yield 2017 2,69%
P/E ratio 2017 22,76
P/E ratio 2018 21,21
EV / Sales 2017 3,69x
EV / Sales 2018 3,66x
Capitalization 13 935 M
Duration : Period :
CMS Energy Corporation Technical Analysis Chart | CMS | US1258961002 | 4-Traders
Technical analysis trends CMS ENERGY CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 50,3 $
Spread / Average Target 1,7%
EPS Revisions
Patricia K. Poppe President, Chief Executive Officer & Director
John G. Russell Chairman
Rejji P. Hayes Chief Financial Officer & Executive Vice President
Brian F. Rich Chief Information Officer
Jon E. Barfield Independent Director
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