CMS Energy sells renewables to focus on utilities
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- CMS Energy will sell non-utility renewable assets at NorthStar Clean Energy Services, retaining only key Michigan-based generation projects and aiming to derive nearly all earnings from regulated utilities after 2027
- CMS Energy disclosed $259 million in costs through June 30 to keep the J.H. Campbell coal plant running due to five federal emergency orders, up from $138 million three months prior, with plans to seek cost recovery from FERC
- Consumers Energy reported a 48% drop in second-quarter adjusted earnings to 37 cents/share, citing mild weather and storm-related infrastructure damage affecting utility profitability
- Consumers Energy has a 9 GW pipeline of prospective large-load customers, with 1 GW to 2 GW in final contracting stages, though a major Microsoft-linked data center project near Grand Rapids faces local opposition and rezoning delays
- Consumers Energy requested a two-year investment recovery mechanism for grid-hardening efforts, following a March extension of $226 million for electric distribution upgrades, as part of a broader $456 million rate increase filing seeking a 10.25% return on equity
Why it matters: By exiting non-regulated renewables, CMS Energy bets its future on utility rate base growth, but delays in landing major data center deals—while DTE advances similar projects—risk ceding competitive ground in Michigan’s evolving power market, even as $259 million in unplanned coal plant costs strain capital allocation.
