In its Reliability Roadmap filed with the MPSC on September 2023, the company said it proposed capital expenditures of $7 billion over the next 5 years, $3 billion higher than in the previous plan, and maintenance and operating spending of $1.7 billion, an increase of $300 million.

1. 01

   In its Reliability Roadmap filed with the MPSC on September 2023, the company said it proposed capital expenditures of $7 billion over the next 5 years, $3 billion higher than in the previous plan, and maintenance and operating spending of $1.7 billion, an increase of $300 million.

2. 02

   The company said it plans to end the use of coal-fueled generation in 2025. It said it completed the purchase of the 1,200 MW Covert Generating Station in May 2023, and that the 515 MW of D.E. Karn coal-fueled generating units closed in June 2023.

3. 03

   The company said that as of December 31, 2023, CMS Energy had consolidated cash and cash equivalents of $248 million, including $21 million of restricted cash. It also said that available capacity under the revolving credit facilities was $526 million for CMS Energy and $1.3 billion for Consumers.

4. 04

   The company said it expects capital expenditures of CMS Energy, including Consumers, to total $3.5 billion in 2024. It also said its contractual obligations for 2024 consist of purchase obligations of $2.4 billion and principal and interest payments on long-term debt of $1.7 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$7.3B

Operating income

$1.2B

Net income

$887M

EPS

$3.01

Operating cash flow

$2.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.