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Wayne State may leave Detroit Thermal; Board OKs sale of bonds for steam system.(Wayne State University to end contract with Detroit Thermal L.L.C.)
Crain's Detroit Business, May, 2005 by Lane, Amy
Byline: Amy Lane Detroit's steam-system company may lose one of its largest customers, potentially spelling higher rates for other downtown businesses that remain on the system. Wayne State University plans to leave Detroit Thermal L.L.C.'s steam supply and build its own boiler plants, issuing $46.2 million in bonds for a project it says will help it control energy costs and save money.
The university, whose board of governors authorized the project at its April 20 meeting, is Detroit Thermal's second-largest customer, after The Detroit Medical Center. "We think we can generate at a cheaper price. So from a financial standpoint, why wouldn't we?'' said John Davis, WSU's CFO and vice president of finance and facilities management. But the loss of...
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