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CMS Energy Corporation reports recurring developments across its Michigan energy business, with Consumers Energy as its principal utility subsidiary. Company news commonly covers earnings results and financial outlooks, common and preferred stock dividends, and updates tied to electric and natural gas service in Michigan.
Consumers Energy updates also include grid reliability, storm response technology, customer energy-efficiency and assistance programs, and regulatory discussions involving utility assets. CMS Energy also reports on its independent power generation businesses and capital-return actions involving listed common stock, preferred securities and depositary shares.
Consumers Energy has implemented infrared camera technology across its electric grid, resulting in a significant reduction in power outages. The cameras, used to inspect nearly 1,100 electric substations throughout Michigan, helped avoid 19.9 million minutes of customer outages last year, reducing average outage time by 10 minutes per customer. This initiative is part of the company's Reliability Roadmap, which includes other measures such as line clearing, iron poles installation, and underground power lines. The technology enables workers to detect potential issues through thermal imaging before they cause outages, allowing for proactive repairs.
CMS Energy's Board of Directors has declared a quarterly dividend of 51.50 cents per share on the company's common stock. The dividend is payable on November 27, 2024, to shareholders of record as of November 13, 2024. CMS Energy, listed on the NYSE under the ticker CMS, is a Michigan-based energy company with Consumers Energy as its primary business. The company also operates independent power generation businesses.
Shareholders can access additional dividend information, including tax status of distributions, through the Tax Information section of CMS Energy's website at www.cmsenergy.com. The company encourages interested parties to visit their website for more information and to sign up for email alert notifications in the Investor Relations section.
Consumers Energy has been selected by the U.S. Department of Energy for a nearly $20 million financial assistance award to deploy new technology providing real-time visibility into the grid and help integrate electric vehicles into Michigan's electric grid. This commitment will be matched by $20 million from Consumers Energy, totaling nearly $40 million for the project.
The company plans to add AI-powered modules to 18,000 electric meters used by Michigan EV owners, providing real-time data analytics and predictions to better understand the impact of EVs on the electric grid. Consumers Energy is partnering with Utilidata to deploy custom NVIDIA modules, bringing cutting-edge AI capabilities to the electric grid. Over half of the devices will be placed in economically disadvantaged communities.
This initiative aligns with Consumers Energy's Clean Energy Plan, which aims to eliminate coal as an energy source by 2025 and achieve net-zero carbon emissions.
Consumers Energy, Michigan's largest energy provider, is intensifying its efforts to improve electric grid reliability through a record-breaking inspection program. The company plans to inspect 25,500 miles of low-voltage electric lines in 2024, surpassing the Earth's circumference. This initiative is part of Consumers Energy's Reliability Roadmap, aimed at reducing power outages.
The company has been committed to visual inspections since 2022, covering half of its 51,000-mile overhead low-voltage distribution system. These inspections have led to the repair of over 17,500 issues in the past two years. Other tactics in the Roadmap include increased line clearing, new technology, more durable iron poles, and burying power lines.
Consumers Energy serves 6.8 million of Michigan's 10 million residents across all 68 Lower Peninsula counties, providing both natural gas and electricity.
The Consumers Energy Foundation has announced its 2024 Prosperity Award Winners, granting $250,000 each to projects in West Branch and Mundy Township. These grants, part of the Foundation's signature grant rounds, aim to support economic development and community welfare.
The City of West Branch will use the funds to construct the 'Gathering Place', a downtown park featuring amenities and local art. Mundy Township's grant will support the construction of a universally designed amphitheater at Mundy Miracle Commons Park, the largest barrier-free park in Michigan.
In 2023, the Consumers Energy Foundation, Consumers Energy, its employees and retirees contributed over $11 million to Michigan nonprofits. Consumers Energy, the principal subsidiary of CMS Energy (NYSE: CMS), serves 6.8 million residents across Michigan's Lower Peninsula.
Consumers Energy has announced a new initiative to expand electric vehicle (EV) charging at Michigan workplaces. The company expects over 500 workplaces to install charging stations by 2030. The program offers $7,500 rebates to businesses that install two or more EV chargers for employees, with larger rebates available for making chargers public.
This effort is part of Consumers Energy's broader strategy to support EV adoption in Michigan. The company projects powering more than 1,500 public fast charging locations by the end of 2030. Consumers Energy has seen the number of EVs in their communities triple in the last four years and is working to make EV ownership more affordable and convenient.
The initiative aligns with Consumers Energy's Clean Energy Plan, which aims to eliminate coal by 2025, reduce energy waste, and add renewable energy sources. The company serves 6.8 million Michigan residents and plans to meet 90% of customers' energy needs through clean sources, including wind and solar.
CMS Energy (NYSE: CMS) has announced it will release its 2024 third quarter results on Thursday, October 31, 2024, at 9:30 a.m. EDT. The company will also provide a business and financial outlook during the presentation. Investors and interested parties can access the webcast on CMS Energy's website, cmsenergy.com. An audio replay will be available approximately three hours after the webcast and will be archived for 30 days in the 'Investor Relations' section of the website.
CMS Energy is a Michigan-based energy company, with Consumers Energy as its primary business. The company also owns and operates independent power generation businesses. For more information or to sign up for email alert notifications, visit cmsenergy.com.
Consumers Energy is fulfilling its commitment to bury 10 miles of power lines in 2024 through its Reliability Roadmap. The company is currently working on projects in Allegan, Allendale, Hillsdale, and Saugatuck, investing $3.7 million in this pilot program. These efforts aim to strengthen the power grid and improve service reliability, even during severe storms.
As part of its long-term strategy, Consumers Energy plans to bury 1,000 miles of power lines within the next five years. This initiative is part of the company's goal to restore power to all customers within 24 hours after severe storms. The Reliability Roadmap also includes other tactics such as increased line clearing, new technology, and more durable iron poles.
Consumers Energy is Michigan's largest energy provider, serving 6.8 million residents across the state's Lower Peninsula.
Consumers Energy plans to break ground on Blackman Solar, a new 30-acre community solar array in Jackson County, Michigan, in spring 2025. The project, approved by Blackman Township, will generate electricity by the end of 2025 as part of the company's Solar Gardens program. Blackman Solar will include nearly 5,000 solar panels, generating up to 2.5 megawatts of renewable electricity for 2,500 future Solar Gardens customers.
This project will be Consumers Energy's fourth owned and operated community solar facility, expanding their MI Sunrise program for income-qualified customers. The company is committed to Michigan's clean energy future, planning to close its final three coal-burning units next summer and aiming to be carbon-neutral by 2040. Consumers Energy serves 6.8 million residents across Michigan's Lower Peninsula.
The cities of Grand Rapids and Kalamazoo have joined Consumers Energy's Renewable Energy Program (REP), marking a significant step towards their climate goals. The program allows customers to match 100% of their energy use with wind and solar power. This partnership supports Consumers Energy's Clean Energy Plan, which aims to eliminate coal by 2025 and achieve net-zero carbon emissions.
Kalamazoo aims to reduce carbon emissions to net-zero by 2050, while Grand Rapids plans to power all municipal operations with renewable energy by 2025. The REP already includes 3 dozen participants, including major corporations and the State of Michigan. In 2025, the program will expand to include residential and small business customers.