Consumers Energy is offloading all 13 of its century-old hydroelectric dams to Confluence Hydro for $1 apiece. (Detroit News)
Why $1? Relicensing all 13 dams would have cost Consumers $1.4B, and decommissioning them would have run $631M. Under the agreement, Confluence will modernize the facilities, keep the reservoirs intact, and sell the power back to Consumers under a 30-year PPA.