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CMS Energy Stock Price

60.60 +0.35 +0.58% Volume: 853,828 10.26.21 04:03 ET

CMS Energy Stock Price

26Oct2021 04:03 ET 60.60 +0.35 +0.58% Volume: 853,828

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

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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 Announces Plan to End Coal Use by 2025; Lead Michigan's Clean Energy Transformation

Jun 23, 2021

JACKSON, Mich., June 23, 2021 /PRNewswire/ -- Consumers Energy today announced a sweeping proposal to stop using coal as a fuel source for electricity by 2025 —15 years faster than currently planned. The plan would make the company one of the first in the nation to go coal-free and provide a 20-year blueprint to meet Michigan's energy needs while protecting the environment for future generations.  

"We are proud to lead Michigan's clean energy transformation and be one of the first utilities in the country to end coal use," President and CEO Garrick Rochow said. "We are committed to being a force of change and good stewards of our environment, producing reliable, affordable energy for our customers while caring for our communities during this transition."

The plan, which requires regulatory approval, ensures we will:

  • Be among the first utilities in the nation to go coal-free by 2025;
  • Use 90 percent clean energy resources by 2040;
  • Build nearly 8,000 megawatts of solar energy to power Michigan's homes and businesses by 2040;
  • Stay on the path to achieve net zero carbon emissions, and
  • Save customers about $650 million through 2040.

If approved by the Michigan Public Service Commission, the updated plan would speed closure of our three coal-fired units at the Campbell generating complex near Holland.

  • Campbell 1 and 2, collectively capable of producing more than 600 megawatts of electricity, would retire in 2025 — roughly six years sooner than their scheduled design lives.
  • Campbell 3, capable of generating 840 MW, would also retire in 2025 — roughly 15 years sooner than its scheduled design life.

The updated proposal also calls for moving up closure of Karn 3 and 4, units that run on natural gas and fuel oil and can generate more than 1,100 MW to meet peak demand, to 2023 — about eight years sooner than their design lives.

"Consumers Energy is committed to a just transition away from coal as a fuel source for electricity," said Brandon Hofmeister, senior vice president for governmental, regulatory and public affairs. "We supported employees and communities impacted by our 2016 coal retirements by finding new roles for workers who wanted to stay, fulfilling our environmental responsibilities at the sites and helping local leaders pursue new economic possibilities. We plan to follow the same philosophy to help those affected by the proposed Campbell and Karn retirements."

By 2040, clean, renewable fuel sources such as solar and wind will comprise more than 60 percent of our electric capacity. Combining that growth with advances in energy storage and customer efficiency will allow us to meet customers' needs with 90 percent clean energy resources. The rapid transition to clean, renewable sources includes the addition of nearly 8,000 megawatts of solar power. Our solar ramp-up has started and will continue throughout the 2020s. Consumers Energy currently operates solar power plants at Western Michigan University, Grand Valley State University and in Cadillac and purchases solar generation from several sites in Michigan.

To ensure continued reliable, affordable energy for Michigan and the Midwest during this historic transition away from coal generation, Consumers Energy proposes buying four existing natural gas-fired power plants in the state: Covert Generating Station in Van Buren County; Dearborn Industrial Generation in Wayne County; Kalamazoo River Generating Station in Kalamazoo County; and Livingston Generating Station in Otsego County. The proposed purchases require state and federal regulatory approvals. The Kalamazoo River and Livingston plants are smaller and used primarily to meet peak demand.

These natural gas plants — along with Consumers Energy's current natural gas-fired power plants in Zeeland and Jackson — would supply steady, reliable electricity for homes and businesses as the company invests more heavily in renewable energy and continues to explore emerging technology to minimize impact on the environment.

Our plan creates price stability and, by using natural gas as a fuel source to generate baseload power, will save customers about $650 million through 2040 compared to our current plan. Further, the increased use of demand management tools such as energy waste reduction programs will give customers more control over their monthly energy bills, equipping them to save energy and money over the long term.

Visit ConsumersEnergy.com/change to learn more about the Clean Energy Plan.

Consumers Energy, Michigan's largest energy provider, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and/or electricity to 6.8 million of the state's 10 million residents in all 68 Lower Peninsula counties.

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

Check out Consumers Energy on Social Media  

Facebook: https://www.facebook.com/consumersenergymichigan  
Twitter: https://twitter.com/consumersenergy  
LinkedIn: https://linkedin.com/company/consumersenergy  
Instagram: https://www.instagram.com/consumersenergy

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/consumers-energy-announces-plan-to-end-coal-use-by-2025-lead-michigans-clean-energy-transformation-301318297.html

SOURCE Consumers Energy

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