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CMS Energy Stock Price

60.52 -0.89 -1.45% Volume: 1,757,069 12.02.22 04:04 ET

CMS Energy Stock Price

2Dec2022 04:04 ET 60.52 -0.89 -1.45% Volume: 1,757,069

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 Announces Major New Investment in Natural Gas System, Improves Reliability for Customers

Jul 07, 2022

JACKSON, Mich., July 7, 2022 /PRNewswire/ -- Consumers Energy received approval today on a $170 million investment to modernize Michigan's natural gas system, making it even more safe, clean, reliable and affordable for customers.

The investments are part of the company's Natural Gas Delivery Plan, a 10-year, $11 billion blueprint that includes upgrading transmission infrastructure, transforming compression and storage operations and replacing aging distribution pipes.

"This investment directly supports a modern natural gas system by replacing pipes dating to the 1940s to ensure safe delivery of our customers need to heat their homes and businesses," said Chris Fultz, Consumers Energy's vice president of gas operations. "A more reliable system keeps homes cozy in the winter, and puts warm, home cooked meals on the table for Michigan families. These critical upgrades will also help protect the environment by reducing emissions of methane, a greenhouse gas more potent than carbon dioxide."

Major components of Consumers Energy's plan include:

  • Reliability: Through our Natural Gas Delivery Plan, Consumers Energy is investing $1 billion annually to modernize the system — a commitment we plan to continue in the coming decade. The upgrades we're completing to our natural gas transmission, distribution and storage system are creating hundreds of construction jobs each year.
  • Affordability: We continue to shield customers from price volatility of the market with the nation's largest underground storage system, which allows us to buy large amounts of natural gas when it's cheapest and pass those savings along to customers during the winter when demand is highest. This year, Consumers Energy also has committed nearly $12 million in new assistance to help Michiganders stay safe and warm in their homes, including $3.5 million for a pilot program for vulnerable households. People who are struggling with energy bills should call 2-1-1, a free service that connects people with nonprofit agencies in communities across the state.
  • Clean Energy Transformation : Consumers Energy is committed to leading Michigan's decarbonization efforts as the role of natural gas evolves in the coming years such as investing in our natural gas system to enhance safety and reliability and continue reducing our greenhouse gas emissions and exploring the use of renewable natural gas (RNG) and other emerging technologies to help our customers and suppliers reduce their emissions. Additionally, we're looking beyond our own operations to help customers reduce greenhouse gas emissions from natural gas sources.

"While prices are increasing due to a variety of global economic factors, Consumers Energy is working to minimize the impact for our customers and Michigan," added Fultz. "We are here for customers with energy efficiency and customer assistance programs to ensure all customers have the energy they need this winter."

Natural gas rates for Consumers Energy customers have not changed since October 2020. With today's ruling, changes to customer bills will take effect in October 2022. In a 12-month period through March 2022, the price Consumers Energy residential customers paid for natural gas was 23% less than the national average.

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:https://www.prnewswire.com/news-releases/consumers-energy-announces-major-new-investment-in-natural-gas-system-improves-reliability-for-customers-301582622.html

SOURCE Consumers Energy

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