The Michigan Public Service Commission (MPSC) decides how much profitability Consumers Energy, the main business of CMS Energy, may have, and it is being well rewarded: “Key financial results for 2024
Dividend: The company increased its annual dividend by 11 cents per share for 2025, marking the 19th consecutive annual increase.
Earnings per share (EPS): CMS Energy announced reported earnings per share of $3.33 for 2024, an increase from $3.01 in 2023. Adjusted EPS was $3.34 for 2024.
Net income: The company’s annual net income was $993 million for 2024, a 13.23% increase over the $877 million reported in 2023.
Revenue: CMS Energy’s annual revenue for 2024 was $7.515 billion, a slight increase of 0.71% from 2023.
So despite only a slight increase in revenues, it was allowed significant profitability for its executives and other investors. Its CEO especially is handsomely rewarded, as shown here. As noted there, it aggressively pursues the Net Zero Agenda.
Its electric utility operating revenue in 2024 was $5.1 billion, as noted here. It describes its Net Zero plan there as follows:
It is purchasing a significant portion of its electric generation from other parties, even as it wants to close the Campbell prematurely:
Around 38% of its electric expenditures are planned for Net Zero.
Most of its profits are from electric:
Only a minor 12% of its electric generation revenues of $5.1 billion are to pay for fuel ($624 million). Most of its expenses are facility depreciation and maintenance. By not demolishing the Campbell, and not spending on Net Zero, plus avoiding profit going to executives and other investors, there would be a huge opportunity for an electric cooperative to be able to lower electric rates for customers.
