Revenue (Tables)

3 Months Ended

Mar. 31, 2025

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Presented in the following tables are the components of operating revenue:

In Millions
Three Months Ended March 31, 2025	Electric Utility			Gas Utility			NorthStar Clean Energy1			Consolidated
CMS Energy, including Consumers
Consumers utility revenue		$	1,294		$	1,047		$	—		$	2,341
Other		—			—			57			57
Revenue recognized from contracts with customers		$	1,294		$	1,047		$	57		$	2,398
Leasing income		—			—			42			42
Financing income		3			2			—			5
Consumers alternative-revenue programs		2			—			—			2
Total operating revenue – CMS Energy		$	1,299		$	1,049		$	99		$	2,447
Consumers
Consumers utility revenue
Residential		$	594		$	731					$	1,325
Commercial		418			239						657
Industrial		173			30						203
Other		109			47						156
Revenue recognized from contracts with customers		$	1,294		$	1,047					$	2,341
Financing income		3			2						5
Alternative-revenue programs		2			—						2
Total operating revenue – Consumers		$	1,299		$	1,049					$	2,348

1Amounts represent NorthStar Clean Energy’s operating revenue from independent power production and its sales of energy commodities. Certain of NorthStar Clean Energy’s power sales agreements are accounted for as operating leases. In addition to fixed payments, these agreements have variable payments based on energy delivered. NorthStar Clean Energy’s leasing income included variable lease payments of $31 million for the three months ended March 31, 2025

In Millions
Three Months Ended March 31, 2024	Electric Utility			Gas Utility			NorthStar Clean Energy1			Consolidated
CMS Energy, including Consumers
Consumers utility revenue		$	1,129		$	963		$	—		$	2,092
Other		—			—			52			52
Revenue recognized from contracts with customers		$	1,129		$	963		$	52		$	2,144
Leasing income		—			—			27			27
Financing income		2			2			—			4
Consumers alternative-revenue programs		1			—			—			1
Total operating revenue – CMS Energy		$	1,132		$	965		$	79		$	2,176
Consumers
Consumers utility revenue
Residential		$	525		$	665					$	1,190
Commercial		360			207						567
Industrial		156			24						180
Other		88			67						155
Revenue recognized from contracts with customers		$	1,129		$	963					$	2,092
Financing income		2			2						4
Alternative-revenue programs		1			—						1
Total operating revenue – Consumers		$	1,132		$	965					$	2,097

1Amounts represent NorthStar Clean Energy’s operating revenue from independent power production and its sales of energy commodities. Certain of NorthStar Clean Energy’s power sales agreements are accounted for as operating leases. In addition to fixed payments, these agreements have variable payments based on energy delivered. NorthStar Clean Energy’s leasing income included variable lease payments of $16 million for the three months ended March 31, 2024.

Consumers Energy Company

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Presented in the following tables are the components of operating revenue:

In Millions
Three Months Ended March 31, 2025	Electric Utility			Gas Utility			NorthStar Clean Energy1			Consolidated
CMS Energy, including Consumers
Consumers utility revenue		$	1,294		$	1,047		$	—		$	2,341
Other		—			—			57			57
Revenue recognized from contracts with customers		$	1,294		$	1,047		$	57		$	2,398
Leasing income		—			—			42			42
Financing income		3			2			—			5
Consumers alternative-revenue programs		2			—			—			2
Total operating revenue – CMS Energy		$	1,299		$	1,049		$	99		$	2,447
Consumers
Consumers utility revenue
Residential		$	594		$	731					$	1,325
Commercial		418			239						657
Industrial		173			30						203
Other		109			47						156
Revenue recognized from contracts with customers		$	1,294		$	1,047					$	2,341
Financing income		3			2						5
Alternative-revenue programs		2			—						2
Total operating revenue – Consumers		$	1,299		$	1,049					$	2,348

1Amounts represent NorthStar Clean Energy’s operating revenue from independent power production and its sales of energy commodities. Certain of NorthStar Clean Energy’s power sales agreements are accounted for as operating leases. In addition to fixed payments, these agreements have variable payments based on energy delivered. NorthStar Clean Energy’s leasing income included variable lease payments of $31 million for the three months ended March 31, 2025

In Millions
Three Months Ended March 31, 2024	Electric Utility			Gas Utility			NorthStar Clean Energy1			Consolidated
CMS Energy, including Consumers
Consumers utility revenue		$	1,129		$	963		$	—		$	2,092
Other		—			—			52			52
Revenue recognized from contracts with customers		$	1,129		$	963		$	52		$	2,144
Leasing income		—			—			27			27
Financing income		2			2			—			4
Consumers alternative-revenue programs		1			—			—			1
Total operating revenue – CMS Energy		$	1,132		$	965		$	79		$	2,176
Consumers
Consumers utility revenue
Residential		$	525		$	665					$	1,190
Commercial		360			207						567
Industrial		156			24						180
Other		88			67						155
Revenue recognized from contracts with customers		$	1,129		$	963					$	2,092
Financing income		2			2						4
Alternative-revenue programs		1			—						1
Total operating revenue – Consumers		$	1,132		$	965					$	2,097

1Amounts represent NorthStar Clean Energy’s operating revenue from independent power production and its sales of energy commodities. Certain of NorthStar Clean Energy’s power sales agreements are accounted for as operating leases. In addition to fixed payments, these agreements have variable payments based on energy delivered. NorthStar Clean Energy’s leasing income included variable lease payments of $16 million for the three months ended March 31, 2024.