Consumers Energy is progressing with its Clean Energy Plan, including ending coal-fueled generation by 2025 and expanding renewable energy sources. They are required to file updates to their renewable energy plan before or in November 2024 and its Clean Energy Plan before or in 2027.

Consumers Energy plans to spend $13.6 billion over the next five years primarily to maintain and upgrade its electric distribution systems and gas infrastructure. This includes investments in electric distribution, gas infrastructure, and clean generation.

In February 2024, Consumers issued a request for proposals to explore the possibility of selling its 13 hydroelectric dams located throughout Michigan. This indicates a potential shift in asset strategy.

In April 2024, Consumers signed an agreement with the MPSC Staff and Attorney General settling the meter investigation. Consumers will pay a $1 million penalty and return a minimum of $3 million to customers.

CMS Energy's CEO and CFO have concluded that, as of the end of the reporting period, its disclosure controls and procedures are effective. This indicates sound internal controls and compliance.

In January 2024, CMS Energy settled the remaining forward sale contracts issued under its previous equity offering program. CMS Energy settled the remaining forward sale contracts issued under its previous equity offering program by issuing shares at a weighted average price of $70.31 per share, resulting in net proceeds of $266 million

The 10-Q states that there have been no material changes to the Risk Factors as previously disclosed in Part I—Item 1A. Risk Factors in the 2023 Form 10-K, which Risk Factors are incorporated herein by reference.

Consumers and DTE Electric filed a complaint against TAES and Toshiba in the U.S. District Court for the Eastern District of Michigan in 2022. An unfavorable outcome could have a material adverse effect on CMS Energy's and Consumers' financial condition, results of operations, or liquidity.

In 2022, Consumers filed a complaint against Wolverine Power in the Ottawa County Circuit Court and requested a ruling that Consumers has sole authority to decide to retire the J.H. Campbell 3 coal-fueled generating unit under Consumers' and Wolverine Power's agreement to jointly own and operate the unit.

At March 31, 2024, electric deliveries under the ROA program were at the ten-percent limit. This indicates a competitive environment where alternative electric suppliers are actively serving customers in Consumers' territory.

CMS Energy repurchased 179,327 shares of common stock during the quarter to satisfy the minimum statutory income tax withholding obligation for common shares that have vested under the Performance Incentive Stock Plan.

Consumers Energy plans to spend $13.6 billion over the next five years primarily to maintain and upgrade its electric distribution systems and gas infrastructure in order to enhance safety and reliability, improve customer satisfaction, reduce energy waste on those systems, and facilitate its clean energy transformation.

Consumers Energy plans to eliminate the use of coal-fueled generation in 2025 and expects to meet 90 percent of its customers' needs with clean energy sources by 2040. The Clean Energy Plan provides for the retirement of the D.E. Karn coal-fueled generating units, totaling 515 MW of nameplate capacity; these units closed in June 2023.

CMS Energy is monitoring numerous legislative, policy, and regulatory initiatives, including those to regulate and report greenhouse gases, and related litigation. While CMS Energy and Consumers cannot predict the outcome of these matters, which could affect them materially, they intend to continue to move forward with their clean and lean strategy.

Over the next five years, Consumers expects weather-normalized electric deliveries to remain relatively stable compared to 2023. This outlook reflects modest growth in electric demand, offset by the effects of energy waste reduction programs.

Increased frequency or intensity of severe or extreme weather events, including those due to climate change, could materially impact Consumers' facilities, energy sales, and results of operations. Consumers is unable to predict these events; however, Consumers evaluates the potential physical impacts of climate change on its operations.