# CMS ENERGY CORP

Summary updated: 2026-10-02T10:16:38.823636Z
Canonical: https://finbar.com/research/companies/cms-energy

## Overview

CMS Energy Corporation is a U.S. energy company headquartered in Michigan, with its principal business conducted through Consumers Energy, a regulated electric and natural-gas utility serving Michigan, and NorthStar Clean Energy, which owns and operates power-generation assets. Its reported business segments are Electric Utility, Gas Utility, and NorthStar Clean Energy. [1](https://app.finbar.com/go?id=T7927015)[2](https://app.finbar.com/go?id=T13517907)[3](https://app.finbar.com/go?id=P5839944)

Consumers Energy describes its purpose as serving customers and helping make Michigan a great place to live and work. [4](https://www.consumersenergy.com/company/who-we-are) For the year ended December 31, 2025, CMS Energy reported $8.539 billion in consolidated operating revenue; CMS Energy and Consumers together had 8,350 full- and part-time employees at year-end. [2](https://app.finbar.com/go?id=T13517907)[5](https://app.finbar.com/go?id=T2842037)
[1](https://app.finbar.com/go?id=T7927015)[2](https://app.finbar.com/go?id=T13517907)[3](https://app.finbar.com/go?id=P5839944)[4](https://www.consumersenergy.com/company/who-we-are)[5](https://app.finbar.com/go?id=T2842037)[4](https://www.consumersenergy.com/company/who-we-are)

## Products & services

Consumers Energy’s electric service includes generating and purchasing electricity and delivering it to residential, commercial, and industrial customers in Michigan’s Lower Peninsula. In 2025, it delivered 37 billion kWh, including 3 billion kWh through retail open access, and reported $5.6 billion in electric utility operating revenue. Its natural-gas service includes purchasing, transmitting, storing, distributing, and selling gas; 2025 deliveries totaled 396 Bcf, including off-system transportation, and gas utility operating revenue was $2.5 billion. Those figures represent approximately 69% electric and 31% gas of the two services’ combined 2025 operating revenue, calculated from the reported amounts. [6](https://app.finbar.com/go?id=P33849449)[7](https://app.finbar.com/go?id=P109221338)[8](https://app.finbar.com/go?id=P39720954)[9](https://app.finbar.com/go?id=P27389210)[10](https://app.finbar.com/go?id=P63453362)

Electricity is supplied from owned generation and purchased power. The 2025 generation-and-supply mix lists 5,940 MW of owned generation, including combined-cycle gas, wind, solar, hydro and gas combustion turbines; it also includes purchased wind and solar power. Listed projects include the 525-MW Aviator Wind project and solar projects BG Solar (200 MW), Delta Solar (24 MW), and Newport Solar (180 MW). [11](https://app.finbar.com/go?id=T11201874)[12](https://app.finbar.com/go?id=T2355111) Gas customers can also purchase renewable natural gas and carbon credits associated with Michigan forest preservation to offset the carbon footprint of gas use. [13](https://app.finbar.com/go?id=P143976284)
[6](https://app.finbar.com/go?id=P33849449)[7](https://app.finbar.com/go?id=P109221338)[8](https://app.finbar.com/go?id=P39720954)[9](https://app.finbar.com/go?id=P27389210)[10](https://app.finbar.com/go?id=P63453362)[11](https://app.finbar.com/go?id=T11201874)[12](https://app.finbar.com/go?id=T2355111)[13](https://app.finbar.com/go?id=P143976284)

## Geographic presence

CMS Energy’s principal utility, Consumers Energy, serves approximately 6.8 million people across all 68 counties of Michigan’s Lower Peninsula. Its electric and natural-gas customers are primarily in Michigan’s Lower Peninsula. [14](https://www.cmsenergy.com/about-cms-energy/consumers-energy/default.aspx)[9](https://app.finbar.com/go?id=P27389210)[10](https://app.finbar.com/go?id=P63453362)

Beyond its Michigan utility territory, CMS Energy’s independent power plants are located in Michigan, Arkansas, Ohio, Texas, and North Carolina. [3](https://app.finbar.com/go?id=P5839944)[15](https://app.finbar.com/go?id=T12121194)

CMS Energy lists its address at One Energy Plaza in Jackson, Michigan. The company reports more than 9,500 co-workers, but does not provide a geographic breakdown of employees or offices. [16](https://app.finbar.com/go?id=P143975854)[17](https://app.finbar.com/go?id=T16474922)[18](https://www.cmsenergy.com/Careers/)

The company’s filings do not provide revenue by country or region, or geographic revenue percentages. [9](https://app.finbar.com/go?id=P27389210)[10](https://app.finbar.com/go?id=P63453362)
[9](https://app.finbar.com/go?id=P27389210)[10](https://app.finbar.com/go?id=P63453362)[3](https://app.finbar.com/go?id=P5839944)[15](https://app.finbar.com/go?id=T12121194)[16](https://app.finbar.com/go?id=P143975854)[17](https://app.finbar.com/go?id=T16474922)[14](https://www.cmsenergy.com/about-cms-energy/consumers-energy/default.aspx)[18](https://www.cmsenergy.com/Careers/)

## Business segments

CMS Energy reports three business segments. Electric Utility generates, purchases, distributes, and sells electricity; it recorded $5.638 billion in FY2025 operating revenue, approximately 66.0% of the consolidated total. Gas Utility purchases, transmits, stores, distributes, and sells natural gas; it recorded $2.493 billion, approximately 29.2%. NorthStar Clean Energy primarily engages in domestic independent power production and marketing, including renewable-energy development and operations; it recorded $408 million, approximately 4.8%. Consolidated operating revenue was $8.539 billion. Percentages are calculated from segment revenue as a share of that total. 
[19](https://app.finbar.com/go?id=P6440774)[20](https://app.finbar.com/go?id=P55948209)[21](https://app.finbar.com/go?id=P6280452)[2](https://app.finbar.com/go?id=T13517907)[2](https://app.finbar.com/go?id=T13517907)[2](https://app.finbar.com/go?id=T13517907)[2](https://app.finbar.com/go?id=T13517907)

## Company history

CMS Energy’s utility roots date to 1886, when electric-lighting efforts began in Jackson, Michigan. The modern holding company took shape in May 1987, when Consumers Power reorganized under CMS Energy; in 1997, the utility adopted the name Consumers Energy Company. [22](https://www.consumersenergy.com/about-us/who-we-are/corporate-overview) [23](https://www.upi.com/Archives/1987/05/26/Consumers-Power-completes-reorganization/5150549000000/) [24](https://www.nrc.gov/docs/ML2013/ML20138G186.pdf)

In the late 1990s, CMS expanded into interstate natural-gas transportation, agreeing to acquire Panhandle Eastern and Trunkline in 1998; it later sold Panhandle, completing the divestiture in 2003. [25](https://www.ftc.gov/news-events/news/press-releases/1999/03/cms-energy-settles-ftc-charges) [26](https://www.sec.gov/Archives/edgar/data/811156/000095012403003270/k80173e8vk.txt) In 2021, CMS completed the sale of EnerBank USA to Regions Bank. The following year, its CMS Enterprises business was renamed NorthStar Clean Energy. [27](https://www.cmsenergy.com/investor-relations/news-releases/news-release-details/2021/CMS-Energy-Completes-Sale-of-EnerBank-USA-to-Regions-Bank/) [28](https://www.cmsenergy.com/investor-relations/news-releases/news-release-details/2022/CMS-Enterprises-Changes-Name-to-NorthStar-Clean-Energy-as-it-Begins-to-Serve-More-Corporate-Clients/default.aspx)

## Sources

1. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T7927015)
2. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T13517907)
3. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P5839944)
4. [www.consumersenergy.com](https://www.consumersenergy.com/company/who-we-are)
5. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T2842037)
6. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P33849449)
7. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P109221338)
8. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P39720954)
9. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P27389210)
10. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P63453362)
11. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T11201874)
12. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T2355111)
13. [CMS ENERGY CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P143976284)
14. [www.cmsenergy.com](https://www.cmsenergy.com/about-cms-energy/consumers-energy/default.aspx)
15. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T12121194)
16. [CMS ENERGY CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P143975854)
17. [CMS ENERGY CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16474922)
18. [www.cmsenergy.com](https://www.cmsenergy.com/Careers/)
19. [CMS ENERGY CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P6440774)
20. [CMS ENERGY CORP — Press release (2025 Y)](https://app.finbar.com/go?id=P55948209)
21. [CMS ENERGY CORP — Press release (2025 Y)](https://app.finbar.com/go?id=P6280452)
22. [www.consumersenergy.com](https://www.consumersenergy.com/about-us/who-we-are/corporate-overview)
23. [www.upi.com](https://www.upi.com/Archives/1987/05/26/Consumers-Power-completes-reorganization/5150549000000/)
24. [www.nrc.gov](https://www.nrc.gov/docs/ML2013/ML20138G186.pdf)
25. [www.ftc.gov](https://www.ftc.gov/news-events/news/press-releases/1999/03/cms-energy-settles-ftc-charges)
26. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/811156/000095012403003270/k80173e8vk.txt)
27. [www.cmsenergy.com](https://www.cmsenergy.com/investor-relations/news-releases/news-release-details/2021/CMS-Energy-Completes-Sale-of-EnerBank-USA-to-Regions-Bank/)
28. [www.cmsenergy.com](https://www.cmsenergy.com/investor-relations/news-releases/news-release-details/2022/CMS-Enterprises-Changes-Name-to-NorthStar-Clean-Energy-as-it-Begins-to-Serve-More-Corporate-Clients/default.aspx)

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