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, Michigan's largest energy provider, has announced plans to develop a fast-charging network for electric vehicles (EVs) across the state, coinciding with Earth Week. The initiative includes establishing 200 fast charging stations and over 2,000 chargers for homes and businesses within three years. Currently, there are 24 operational locations, a significant increase from just four last summer. This move aligns with rising EV sales, which are growing over 20% annually, as Consumers Energy invests in infrastructure to support a clean automotive future.
On April 15, 2021, Consumers Energy Foundation announced $50,000 in funding for community projects through its "Put Your Town on the Map" competition. Comins Township received $25,000 for a public square, Pinckney earned $15,000 for a community garden, and Alma obtained $10,000 for an art corridor. The competition aimed to enhance small Michigan communities, with nearly 100 submissions received. Consumers Energy, Michigan's largest energy provider, serves 6.7 million residents and is a subsidiary of CMS Energy.
CMS Energy is set to release its 2021 first quarter results along with a comprehensive business and financial outlook on April 29, 2021, at 9:30 a.m. EDT. A webcast of the presentation will be available on the company's website, with an audio replay accessible after three hours, archived for 30 days. The Michigan-based company operates an electric and natural gas utility, Consumers Energy, and retains independent power generation businesses.
Consumers Energy emphasizes safe digging practices as April is designated Safe Digging Month in Michigan. With increased outdoor projects post-pandemic, the initiative urges residents to contact MISS DIG 811 to prevent utility damages. In 2020, there were 2,127 dig-in damages, a 3% rise from the previous year. The law mandates contacting MISS DIG at least three days before any digging. Key tips include waiting for utility markings and digging carefully near marked lines. Consumers Energy serves 6.7 million residents in Michigan, the largest energy provider in the state.
Consumers Energy, Michigan's largest energy provider, and Attorney General Dana Nessel have initiated a public campaign to aid residents in accessing over $10 million in available funds for winter heating bills. This comes following severe cold in February, which increased heating costs for many households. The company has already allocated $15 million since last fall to support customers during the pandemic. Michiganders needing assistance can contact 2-1-1 or visit mi211.org for resources.
Consumers Energy has entered an agreement to purchase 140 megawatts of renewable energy from the Calhoun Solar Center, a project developed by Invenergy. This capacity is enough to power approximately 70,000 residential customers and will contribute significantly to Michigan's clean energy efforts. The solar center, with a total capacity of 200 megawatts, is expected to be completed by 2022. The proposed agreement will see Consumers Energy procure solar energy for 25 years. This initiative aligns with the company's aim to eliminate coal and achieve net zero carbon emissions by 2040.
Consumers Energy has dispatched nearly 50 workers to North Carolina to assist in power restoration efforts following severe storms affecting tens of thousands of customers. The teams consist of 15 crews from over 20 service centers in Lower Michigan and will support Duke Energy. Their trip is expected to last two days, potentially extending to assist neighboring states due to widespread damage. This initiative is part of the Great Lakes Mutual Assistance group, which coordinates power restoration among various electric providers.
The Board of Directors of Consumers Energy, a subsidiary of CMS Energy, announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock, payable on April 1, 2021. Shareholders of record by the close of business on March 1, 2021 will receive this dividend. CMS Energy, based in Michigan, operates primarily in the electric and natural gas utility sectors.
Consumers Energy has commenced operations of the 166-megawatt Crescent Wind facility in Hillsdale County, Michigan, which will provide renewable energy to approximately 64,000 residents. This wind farm represents a $246 million investment and is part of Consumers Energy's strategy to enhance its clean energy portfolio, doubling its wind energy capacity compared to last year. The facility employs 11 full-time staff and will contribute to the company's Clean Energy Plan, aimed at achieving net-zero carbon emissions.
The Consumers Energy Foundation is reviving its 'Put Your Town on the Map' competition, offering $50,000 to support innovative projects in Michigan's small towns. Communities with populations under 10,000 can submit proposals until February 24. Ten finalists will pitch their ideas at the Small Town and Rural Development Conference, taking place virtually on April 13-14. Winning projects will receive grants of $25,000, $15,000, and $10,000. This initiative aims to foster community pride and attract visitors to local downtowns.