DEARBORN, Mich., March 8, 2002 — CMS Energy Corp.’s energy marketing unit, CMS Marketing, Services and Trading (CMS-MST), and Central Virginia Electric Cooperative (CVEC) have jointly announced they have signed a contract under which CMS-MST will supply CVEC’s full power requirements over a ten-year period beginning in May 2002.
“We were able to offer Central Virginia Electric Cooperative a firm, long- term power supply at a very competitive price, producing savings for their customers and certainty of supply,” said Kevin Thomas, CMS-MST’s vice president of power trading and marketing. “This contract serving CVEC in Virginia opens up a new market for CMS-MST, which we hope to expand.” CMS-MST already has power supply agreements with municipal utilities and co-ops throughout the Midwest.
“We are delighted with this new contract,” said Howard Scarboro, president and CEO of Central Virginia Electric Cooperative. “It will provide our customers, who are member/owners, with a reliable supply of low cost energy for the next ten years.” Power purchases under the agreement will begin as CVEC’s existing contracts reach the end of their term.
“This is good news for our members who may be apprehensive about the reliability and price of electricity as our industry undergoes transformation,” said Scarboro. “We achieved this success by leveraging the aggregated purchasing power of our members. That’s what cooperatives do.”
Central Virginia Electric Cooperative is a not-for-profit utility serving its 29,000 residential, commercial and industrial customers in 14 counties. The 64 year-old cooperative has its headquarters in Nelson County, Virginia.
CMS Energy Corp. has annual sales of $13 billion and assets of $16 billion throughout the U.S. and in selected foreign markets. CMS Energy, which has 86 percent of its assets in the United States, owns and operates an electric and natural gas distribution company with 1.7 million electric customers and 1.6 million gas customers; a 16,000 mile natural gas pipeline system and associated storage facilities; the nation’s largest LNG import facility; approximately 8,000 megawatts of power plants; a midstream natural gas gathering and processing company with 385 million cubic feet per day of capacity; an oil and gas exploration and production company with significant domestic gas reserves; and a energy marketing, trading and services company marketing 1.8 trillion cubic feet of natural gas and more than 72 million megawatt-hours of electricity annually.
For more information on CMS Energy, please visit our web site at: www.cmsenergy.com.