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.
The Consumers Energy Foundation has awarded $500,000 in grants for its 2023 Planet Awards to two organizations: the Nature Conservancy-Michigan Chapter and the Genesee Conservation District. Each organization receives $250,000 to fund projects aimed at protecting endangered species and restoring natural spaces in Michigan. The Nature Conservancy will expand its fire program across four counties, while the Genesee Conservation District will convert vacant land in Flint back to naturalized areas over two years. The Foundation's commitment to environmental preservation is highlighted by its total annual grant funding of $1.5 million dedicated to impactful projects.
CMS Energy will announce its 2023 first quarter results on April 27, 2023, at 9:00 a.m. EDT. This will include a comprehensive business and financial outlook. Interested parties can access the presentation via a webcast on CMS Energy's website, with an audio replay available shortly after the event.
As a major energy provider in Michigan, CMS Energy primarily operates through Consumers Energy and manages independent power generation businesses.
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Consumers Energy announced the installation of 123 new automatic transfer reclosers (ATRs) in 2023 to enhance electric reliability and minimize outages. This initiative is a vital part of the company's $5.4 billion electric reliability plan, which aims to reduce both the frequency and duration of power outages. ATRs, key technologies for isolating problems on electric lines, have previously prevented tens of thousands of outages, including nearly 9,000 during the August 2022 thunderstorms. The majority of the ATRs will be operational by summer 2023 and are part of a broader strategy to improve grid safety and reliability amidst changing climate conditions.
On March 23, 2023, Consumers Energy announced it is providing rebates for electric vehicle (EV) chargers at seven Domino's Pizza locations across Michigan. This initiative is part of Consumers Energy's efforts to support over 50 Michigan businesses in shifting to clean transportation. Each location will benefit from the PowerMIFleet program, designed to reduce costs and emissions for fleet operators. Domino's is expected to deploy nearly 900 EVs nationwide by year-end 2023, with a focus on environmental sustainability. Consumers Energy aims to power 1 million EVs in Michigan by 2030 and install additional public chargers.
The Consumers Energy Foundation has launched the annual "Put Your Town on the Map" pitch competition, offering a total of $50,000 in grants for innovative projects aimed at improving small communities in Michigan. Communities with populations under 10,000 can submit proposals until April 7. The competition will grant $25,000, $15,000, and $10,000 to the top three projects, which will be announced at the Small Town and Rural Development Conference in June. Since its inception in 2019, this initiative has supported various community-focused projects across Michigan.
Consumers Energy co-sponsored the Girls Dream Big Summit with the Detroit Pistons on March 1, 2023, aimed at empowering young women through mentorship and networking opportunities. Over 125 students from various schools participated, engaging with women leaders in sports and media. Additionally, Consumers Energy contributed a $10,000 scholarship at the Black History Month Scholarship Event, supporting a student from Jalen Rose Academy. The company emphasizes its commitment to diversity, equity, and inclusion, aiming to foster future leaders in Michigan.
Consumers Energy has donated a historic locomotive, previously used to supply coal to the J.H. Campbell coal plant, to the Friends of Coopersville and Marne Railway in West Olive, Michigan. This donation follows the company's commitment to transition to a coal-free operation by 2025, aiming for cleaner energy solutions. The locomotive, a Center Cab 125 Ton Switcher, was manufactured in 1979 and had the capacity to pull approximately 33 coal cars. Consumers Energy serves 6.7 million residents across Michigan and plans to incorporate nearly 8,000 MW of solar energy by 2040.
The Board of Directors of CMS Energy has declared a dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. This dividend is payable on April 15, 2023 to shareholders of record as of the close of business on April 1, 2023. CMS Energy, based in Michigan, operates Consumers Energy as its main business while also owning independent power generation facilities.
The Board of Directors of Consumers Energy, a subsidiary of CMS Energy (NYSE: CMS), declared a quarterly dividend of $1.125 per share on the $4.50 preferred stock (NYSE: CMS.PRB).
This dividend will be payable on April 1, 2023, to shareholders of record as of the close of business on March 6, 2023. CMS Energy, based in Michigan, operates independent power generation businesses alongside its utility services.
Consumers Energy is distributing 30,000 Google Nest smart thermostats to assist financially vulnerable natural gas customers in Michigan facing high heating costs. This initiative comes alongside a reminder of ongoing financial assistance for energy bills, as natural gas prices have decreased by 24% since October. The company also announced a $25 million contribution, including $15 million in automatic bill credits and $10 million in assistance for vulnerable households. Consumers Energy aims to minimize heating costs while promoting energy-saving practices among its customers.