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CMS Energy Stock Price

60.83 +0.34 +0.56% Volume: 672,979 11.14.19 02:48 ET

CMS Energy Stock Price

14Nov2019 02:48 ET 60.83 +0.34 +0.56% Volume: 672,979

Media Contacts

MEGAN
BROWN
Senior Director of Public Relations
and Communications
517-788-6538
megan.brown@cmsenergy.com
KATIE
CAREY
Director of Media Relations
517-788-2395
katelyn.carey@cmsenergy.com
BRIAN
WHEELER
Senior Public Information Director
517-788-2394
brian.wheeler@cmsenergy.com

Disclaimer

Please note that you are now entering a website directly or indirectly maintained by a third party (the "External Site") and that you do so at your own risk.

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

By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if CMS and Virtua are advised of the possibility of the loss, damage, claim or liability. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s). If in any jurisdiction, any part of this disclaimer is held to be unenforceable by a court of competent jurisdiction, such part of this disclaimer shall be restricted or eliminated to the minimum extent and the remaining disclaimer shall otherwise remain in full force and effect.

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 Proposes Long-Term Plan, A Cleaner Energy Future for Michigan

Jun 13, 2018
Plan includes retirement of coal plants; more renewable energy, energy efficiency

JACKSON, Mich., June 13, 2018 /PRNewswire/ -- Consumers Energy today announced it is seizing a once-in-a-generation opportunity to reshape Michigan's energy future with a plan that embodies its Triple Bottom Line commitment to people, the planet and prosperity.

Consumers Energy Logo (PRNewsFoto/Consumers Energy)

The company will file an Integrated Resource Plan (IRP) this week with the Michigan Public Service Commission (MPSC) that outlines the path to using zero coal while ensuring affordable and reliable energy for Michigan's families and businesses. The IRP details how the company will meet the state's energy needs with increased use of energy efficiency and other customer demand management programs and significantly more renewable energy.

Under the plan, the company would increase renewable energy from 11 percent today to 37 percent by 2030 and 43 percent by 2040 – helping the company achieve its clean energy breakthrough goal, announced earlier this year, to reduce carbon emissions 80 percent and eliminate the use of coal to generate electricity by 2040. The proposed strategy also includes retiring two aging, coal-fired units at the Karn Generating Complex near Bay City in 2023.

In-depth modeling analysis showed higher levels of energy efficiency and demand management programs and renewable energy are the best and most affordable way to meet customers' needs in the future.

Under the IRP, demand response, energy efficiency, and grid modernization tools would take on more significant roles. These virtual "power plants" will help customers save money on their energy bills and reduce energy demand 22 percent by 2040. Consumers Energy also would add 5,000 megawatts of solar energy throughout the 2020s, along with wind and battery storage.

"Our vision considers people, the planet and the prosperity of our state and the communities we serve. This IRP will help guide key decisions in the coming years to make us a cleaner, leaner company for the Great Lakes State," said Patti Poppe, President and CEO of Consumers Energy and CMS Energy. "This is a pivotal moment in our company's long, proud history — and this plan charts a course for us all to embrace the opportunities and meet the challenges of a new era."

Over the last 18 months, Consumers Energy developed the IRP by gathering input from a diverse group of customers and key stakeholders — including a series of public forums — to build a deeper understanding of shared goals. The company then modeled future scenarios using a variety of assumptions about factors such as market prices, energy demand and levels of clean energy resources, including demand response and energy efficiency, wind and solar.

Karn units 1 and 2, located in Hampton Township near Bay City, came online in 1959 and 1961, respectively, and are capable of generating 515 megawatts of electricity. The retirement of Karn 1 and 2 continues a move away from coal as a generation fuel source that began in April 2016 with retirement of our "Classic Seven" units located at the former Whiting, Cobb and Weadock sites.

"We're grateful for the power the Karn coal units have provided for Michigan over the decades and proud of our co-workers who've operated and maintained them so faithfully. The company will be working actively to care for our co-workers through this transition," Poppe said.  "We plan to support Hampton Township and the Bay region as they re-imagine the local economic landscape after these units are retired."

Consumers Energy, Michigan's largest energy provider, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and/or electricity to 6.7 million of the state's 10 million residents in all 68 Lower Peninsula counties.

Fast Facts:

  • Karn 1 and 2 would be retired in 2023
  • 37 percent renewable energy by 2030
  • 43 percent renewable energy by 2040
  • Significant investments in solar and increased use of energy efficiency and customer demand management programs.

LEARN MORE: See more information about Consumers Energy's Integrated Resource Plan at: www.ConsumersEnergy.com.

For more information about Consumers Energy, go to www.ConsumersEnergy.com .

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/consumers-energy-proposes-long-term-plan-a-cleaner-energy-future-for-michigan-300665792.html

SOURCE Consumers Energy

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