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CMS Energy Stock Price

59.55 +1.07 +1.83% Volume: 1,743,911 04.19.24 04:00 ET

CMS Energy Stock Price

19Apr2024 04:00 ET 59.55 +1.07 +1.83% Volume: 1,743,911

Media Contacts

KATIE
CAREY
Director of External Relations
517-788-2395
katelyn.carey@cmsenergy.com
BRIAN
WHEELER
Media Relations Manager
517-788-2394
brian.wheeler@cmsenergy.com

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CMS Energy, Corp. (“CMS”) has no control over the External Site, any data or other content contained therein or any additional linked websites. The link to the External Site is provided for convenience purposes only. By clicking “Accept” you acknowledge and agree that neither CMS nor third party provider Virtua Research, Inc. (“Virtua) is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data or the technical operation of the Linked Site. Further, by entering the External Site, you also acknowledge and agree that you completely and irrevocably waive any and all rights and claims against CMS and Virtua and further acknowledge and agree that in no event shall CMS or Virtua, its officers, employees, directors and agents be liable for any (i) indirect, consequential, incidental, special, compensatory or punitive damages, (ii) damages for loss of income, loss of business profits, business interruption, loss of data or business information, loss of or damage to property, (iii) claims of third parties, or (iv) other pecuniary loss, arising out of or related to the Legal Notice, this disclaimer or the External Site

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Please note the information presented is deemed representative at the time of its original release. Changes in historical information may occur due to adjustments in accounting and reporting standards & procedures.

Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, CMS may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including net income, earnings per share, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. CMS provides historical financial results on both a GAAP and non-GAAP basis. Management views adjusted earnings as a key measure of the company’s present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, regulatory items from prior years, or other items. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company’s reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings.

CMS and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data. The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should be considered supplemental information to assist in fully understanding our business results, rather than as a substitute for the reported earnings.

A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP measure is included as a separate link and also posted on the CMS website at www.cmsenergy.com.

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News Releases

Consumers Energy Announces Next Major Step To Build New Clean-Burning Natural Gas Power Plant In Genesee County

Jul 12, 2013
ECONOMIC STUDY: 600 CONSTRUCTION JOBS, BENEFITS FOR MICHIGAN

JACKSON, Mich., July 12, 2013 /PRNewswire/ -- Consumers Energy has taken the next major step for its new natural gas plant in Genesee County, filing today for approval of a certificate of necessity with the Michigan Public Service Commission (MPSC). 

"Our filing today establishes that this new natural gas plant is in the best long-term interests of Michigan and our 1.8 million electric customers," said John Russell, Consumers Energy's chief executive officer.  "This $750 million project will create 600 construction jobs, about 30 operating and support jobs, and ongoing economic benefits for the regional I-75 corridor and Genesee County." 

The certificate of necessity filing, allowed for under Michigan's energy reform law, provides Consumers Energy's comprehensive analysis for the 700 megawatt natural gas plant planned for Thetford Township, about 20 miles northeast of Flint.  The review process for the filing is expected to take nine months.

Tim Sparks, Consumers Energy's vice president of energy supply operations, said the new facility will be one of the most economical and efficient power plants in operation, using advanced combined cycle technology.  

Sparks noted that the plant's 700 megawatts are needed due to the scheduled suspension of operation of Consumers Energy's seven smallest and oldest coal plants, which have a total capacity of about 950 megawatts.  The company's customers set an all-time peak demand record in 2012, as electric sales rebound with Michigan's improving economy. 

"When operational in 2017, this plant will produce about 50 percent less carbon emissions than the coal plants it will replace. This switch in generation will help us reach our greenhouse gas reduction target of 20 percent by 2025," said Sparks.

An economic impact study released today for the Thetford project cited numerous benefits for Michigan, the regional I-75 corridor and Genesee County.  The study cited increased construction and spin-off jobs, local economic investment, and increased annual property taxes benefiting Genesee County, Thetford Township and its libraries, parks, health services, local schools and other special districts. 

Consumers Energy owns the 230-acre Thetford Township site, which features access to high-volume natural gas delivery and high-voltage power transmission lines.  The site already is home to nine smaller natural gas fired combustion turbine units.

The current project schedule calls for construction to begin in 2014 and for the new combined cycle power plant to begin serving Consumers Energy's electric customers in 2017. At 700 megawatts, the plant would be able to serve a community of about 445,000.

Development of the power plant is tied to Consumers Energy obtaining an air permit from the Michigan Department of Environmental Quality (MDEQ), a certificate of necessity from the MPSC, and suitable financing. Consumers Energy is awaiting an air permit from the MDEQ, having completed the application process.  Its air permit application covered two combined cycle units at the Thetford site, supporting the company's option to develop a second unit at a later date.

Sparks said development of a major new natural gas fueled power plant is part of the company's Balanced Energy Initiative, a comprehensive plan that includes renewable energy and energy efficiency programs to meet the energy needs of Consumers Energy's customers through 2040. 

"This plant will use state-of-the-art technology to help meet the future needs of our 1.8 million electric customers in an environmentally responsible manner.  We selected natural gas as the fuel source for this new power plant because we project it will be the most economical way to serve our customers in the future and continue to bring them value," Sparks said.

Consumers Energy, Michigan's largest utility, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and electricity to 6.6 million of the state's 10 million residents in all 68 Lower Peninsula counties.

This news release contains "forward-looking statements" as defined in Rule 3b-6 of the Securities Exchange Act of 1934, as amended, Rule 175 of the Securities Act of 1933, as amended, and relevant legal decisions. The forward-looking statements are subject to risks and uncertainties. They should be read in conjunction with "FORWARD-LOOKING STATEMENTS AND INFORMATION" and "RISK FACTORS" sections of CMS Energy's Form 10-K and Consumers Energy's Form 10-K each for the Year Ended December 31, 2012 and as updated in CMS Energy's and Consumers Energy's Forms 10-Q for the Quarter Ended March 31, 2013.  CMS Energy's and Consumers Energy's "FORWARD-LOOKING STATEMENTS AND INFORMATION" and "RISK FACTORS" sections are incorporated herein by reference and discuss important factors that could cause CMS Energy's and Consumers Energy's results to differ materially from those anticipated in such statements.

For more information regarding Consumers Energy, visit us at: www.consumersenergy.com or join us on Facebook at: www.facebook.com/consumersenergymichigan 

SOURCE Consumers Energy

Media Contacts: Dan Bishop, 517/788-2395 or Dennis Marvin, 517/788-0318

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