Contingencies and Commitments (Tables)

12 Months Ended

Dec. 31, 2024

Site Contingency [Line Items]

Schedule of Remediation and Other Response Activity Costs by Year

CMS Energy expects to pay the following amounts for long-term leachate disposal and operating and maintenance costs in each of the next five years:

In Millions
	2025			2026			2027			2028			2029
CMS Energy
Long-term leachate disposal and operating and maintenance costs		$	4		$	4		$	4		$	4		$	4

Summary of Guarantees

Presented in the following table are CMS Energy’s and Consumers’ guarantees at December 31, 2024:

In Millions
Guarantee Description	Issue Date	Expiration Date	Maximum Obligation			Carrying Amount
CMS Energy, including Consumers
Indemnity obligations from sale of membership interests in VIEs1	various	indefinite		$	258		$	—
Indemnity obligations from stock and asset sale agreements2	various	indefinite		153			1
Guarantee3	2011	indefinite		30			—
Consumers
Guarantee3	2011	indefinite		$	30		$	—

1These obligations arose from the sale of membership interests in Aviator Wind, Newport Solar Holdings, and NWO Holdco to tax equity investors. NorthStar Clean Energy provided certain indemnity obligations that protect the tax equity investors against losses incurred as a result of breaches of representations and warranties under the associated limited liability company agreements. These obligations are generally capped at an amount equal to the tax equity investor’s capital contributions plus a specified return, less any distributions and tax benefits it receives, in connection with its membership interest. For any indemnity obligations related to Aviator Wind, NorthStar Clean Energy would recover 49 percent of any amounts paid to the tax equity investor from the other owner of Aviator Wind Equity Holdings. Additionally, Aviator Wind holds insurance coverage that would partially protect against losses incurred as a result of certain failures to qualify for production tax credits. For further details on NorthStar Clean Energy’s ownership interest in Aviator Wind, Newport Solar Holdings, and NWO Holdco, see Note 18, Variable Interest Entities.

2These obligations arose from stock and asset sale agreements under which CMS Energy or a subsidiary of CMS Energy indemnified the purchaser for losses resulting from various matters, including claims related to taxes. The maximum obligation amount is mostly related to an Equatorial Guinea tax claim.

3This obligation comprises a guarantee provided by Consumers to the U.S. Department of Energy in connection with a settlement agreement regarding damages resulting from the department’s failure to accept spent nuclear fuel from nuclear power plants formerly owned by Consumers.

Schedule of Contractual Purchase Obligations

Presented in the following table are CMS Energy’s and Consumers’ contractual purchase obligations at December 31, 2024 for each of the periods shown:

In Millions
	Payments Due
	Total			2025			2026			2027			2028			2029			Beyond 2029
CMS Energy, including Consumers
Total PPAs		$	7,006		$	659		$	662		$	698		$	677		$	678		$	3,632
Other		4,432			1,780			1,095			670			461			239			187
Total purchase obligations		$	11,438		$	2,439		$	1,757		$	1,368		$	1,138		$	917		$	3,819
Consumers
PPAs
MCV PPA		$	1,297		$	265		$	233		$	218		$	222		$	239		$	120
Related-party PPAs		60			29			15			16			—			—			—
Other PPAs		5,649			365			414			464			455			439			3,512
Total PPAs		$	7,006		$	659		$	662		$	698		$	677		$	678		$	3,632
Other		3,371			1,412			958			518			365			116			2
Total purchase obligations		$	10,377		$	2,071		$	1,620		$	1,216		$	1,042		$	794		$	3,634

Consumers Energy Company

Site Contingency [Line Items]

Schedule of Remediation and Other Response Activity Costs by Year

Consumers expects to pay the following amounts for remediation and other response activity costs in each of the next five years:

In Millions
	2025			2026			2027			2028			2029
Consumers
Remediation and other response activity costs		$	3		$	7		$	9		$	24		$	7

Summary of Guarantees

Presented in the following table are CMS Energy’s and Consumers’ guarantees at December 31, 2024:

In Millions
Guarantee Description	Issue Date	Expiration Date	Maximum Obligation			Carrying Amount
CMS Energy, including Consumers
Indemnity obligations from sale of membership interests in VIEs1	various	indefinite		$	258		$	—
Indemnity obligations from stock and asset sale agreements2	various	indefinite		153			1
Guarantee3	2011	indefinite		30			—
Consumers
Guarantee3	2011	indefinite		$	30		$	—

1These obligations arose from the sale of membership interests in Aviator Wind, Newport Solar Holdings, and NWO Holdco to tax equity investors. NorthStar Clean Energy provided certain indemnity obligations that protect the tax equity investors against losses incurred as a result of breaches of representations and warranties under the associated limited liability company agreements. These obligations are generally capped at an amount equal to the tax equity investor’s capital contributions plus a specified return, less any distributions and tax benefits it receives, in connection with its membership interest. For any indemnity obligations related to Aviator Wind, NorthStar Clean Energy would recover 49 percent of any amounts paid to the tax equity investor from the other owner of Aviator Wind Equity Holdings. Additionally, Aviator Wind holds insurance coverage that would partially protect against losses incurred as a result of certain failures to qualify for production tax credits. For further details on NorthStar Clean Energy’s ownership interest in Aviator Wind, Newport Solar Holdings, and NWO Holdco, see Note 18, Variable Interest Entities.

2These obligations arose from stock and asset sale agreements under which CMS Energy or a subsidiary of CMS Energy indemnified the purchaser for losses resulting from various matters, including claims related to taxes. The maximum obligation amount is mostly related to an Equatorial Guinea tax claim.

3This obligation comprises a guarantee provided by Consumers to the U.S. Department of Energy in connection with a settlement agreement regarding damages resulting from the department’s failure to accept spent nuclear fuel from nuclear power plants formerly owned by Consumers.

Schedule of Contractual Purchase Obligations

Presented in the following table are CMS Energy’s and Consumers’ contractual purchase obligations at December 31, 2024 for each of the periods shown:

In Millions
	Payments Due
	Total			2025			2026			2027			2028			2029			Beyond 2029
CMS Energy, including Consumers
Total PPAs		$	7,006		$	659		$	662		$	698		$	677		$	678		$	3,632
Other		4,432			1,780			1,095			670			461			239			187
Total purchase obligations		$	11,438		$	2,439		$	1,757		$	1,368		$	1,138		$	917		$	3,819
Consumers
PPAs
MCV PPA		$	1,297		$	265		$	233		$	218		$	222		$	239		$	120
Related-party PPAs		60			29			15			16			—			—			—
Other PPAs		5,649			365			414			464			455			439			3,512
Total PPAs		$	7,006		$	659		$	662		$	698		$	677		$	678		$	3,632
Other		3,371			1,412			958			518			365			116			2
Total purchase obligations		$	10,377		$	2,071		$	1,620		$	1,216		$	1,042		$	794		$	3,634