CMS Energy is a Michigan-based energy holding company operating through three segments: electric utility, gas utility, and NorthStar Clean Energy (non-utility). Its principal subsidiary, Consumers Energy, has served Michigan customers since 1886, providing electricity and/or natural gas to approximately 6.8 million of Michigan's 10 million residents. NorthStar Clean Energy engages in domestic independent power production, including renewable generation development and power marketing.
Consumers Energy served 1.9 million electric customers and 1.8 million gas customers in Michigan's Lower Peninsula in 2025, generating consolidated operating revenue of $8.1 billion. CMS Energy's consolidated operating revenue was $8.5 billion in 2025. Consumers' rates and certain operations are regulated by the Michigan Public Service Commission, FERC, and NERC reliability standards.
Other Utility Service 100%
product & service · FY2025 (ended Dec 2025) · share of tagged segment revenue (10-K XBRL, as filed)
