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Natural-gas price worries ease; MichCon looks to lower per-unit cost, raise service charges.

Publication: Crain's Detroit Business
Publication Date: 06-OCT-03
Format: Online - approximately 800 words
Delivery: Immediate Online Access
Full Article Title: Natural-gas price worries ease; MichCon looks to lower per-unit cost, raise service charges.(Michigan Consolidated Gas Co.)

Article Excerpt
Byline: Amy Lane

Not many months ago, an $80 million increase in this winter's natural-gas prices looked possible for Michigan Consolidated Gas Co.'s customers.

Now, the 1.2 million residents and small businesses that buy gas from MichCon could see an $80 million decrease.

A mild summer has improved natural-gas prospects this winter, lessening the financial bite on customers and potentially lending a boost to Michigan's economy.

"Natural-gas prices were higher. Now they've decelerated a little bit as oil prices have also come down and gas prices have also come down. That is a direct positive for Michigan because it acts like a modest tax cut,'' said David Sowerby, portfolio manager and chief market analyst for Loomis, Sayles & Co....

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