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Financings and Capitalization (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Instrument [Line Items]  
Summary of Long-Term Debt
Presented in the following table is CMS Energy’s long-term debt at December 31:
In Millions
Interest Rate
(%)		Maturity20222021
CMS Energy, including Consumers
CMS Energy, parent only
Senior notes3.875 2024$250 $250 
3.600 2025250 250 
3.000 2026300 300 
2.950 2027275 275 
3.450 2027350 350 
4.700 2043250 250 
4.875 2044300 300 
$1,975 $1,975 
Junior subordinated notes1
4.750 
2
2050500 500 
3.750 
3
2050400 400 
5.625 2078200 200 
5.875 2078280 280 
5.875 2079630 630 
$2,010 $2,010 
Total CMS Energy, parent only$3,985 $3,985 
Consumers10,277 8,505 
NorthStar Clean Energy, including subsidiaries
Term loan facilityvariable2025— 78 
Term loan facilityvariable
4
2023100 — 
Total principal amount outstanding$14,362 $12,568 
Current amounts(1,090)(373)
Unamortized discounts(30)(31)
Unamortized issuance costs(120)(118)
Total long-term debt$13,122 $12,046 
1These unsecured obligations rank subordinate and junior in right of payment to all of CMS Energy’s existing and future senior indebtedness.
2On June 1, 2030, and every five years thereafter, the notes will reset to an interest rate equal to the five-year treasury rate plus 4.116 percent.
3On December 1, 2030, and every five years thereafter, the notes will reset to an interest rate equal to the five-year treasury rate plus 2.900 percent
4Funds borrowed under this facility have an interest rate of one-month Term SOFR plus a spread of one percent. At December 31, 2022, the interest rate for the loan issued under this facility was 5.423 percent.
Schedule of Major Long-Term Debt Issuances and Retirements
Presented in the following table is a summary of major long-term debt retirements during 2022:
Principal
(In Millions)		Interest RateRetirement DateMaturity Date
NorthStar Clean Energy, including subsidiaries
Term loan facility$76 variableJune 2022October 2025
Schedule of Debt Maturities
Debt Maturities: At December 31, 2022, the aggregate annual maturities for long-term debt for the next five years, based on stated maturities or earlier put dates, were:
In Millions
20232024202520262027
CMS Energy, including Consumers
Long-term debt
CMS Energy, parent only$— $250 $250 $300 $625 
Consumers
991 1,332 31 32 168 
NorthStar Clean Energy, including subsidiaries100 — — — — 
Total CMS Energy1
$1,091 $1,582 $281 $332 $793 
Consumers
Long-term debt$991 $1,332 $31 $32 $168 
1    This amount excludes debt issuance costs, related to the term loan agreement of a subsidiary of NorthStar Clean Energy, of less than $1 million
Schedule of Revolving Credit Facilities The following credit facilities with banks were available at December 31, 2022:
In Millions
Expiration DateAmount of FacilityAmount BorrowedLetters of Credit OutstandingAmount Available
CMS Energy, parent only
December 14, 20271
$550 $— $18 $532 
September 22, 2024
50 — 50 — 
NorthStar Clean Energy, including subsidiaries
September 25, 20252
$37 $— $37 $— 
Consumers3
December 14, 2027
$1,100 $— $29 $1,071 
November 18, 2024
250 — 27 223 
1There were no borrowings under this facility during the year ended December 31, 2022.
2This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 18, Variable Interest Entities.
3Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the year ended December 31, 2022.
Schedule of Forward Contracts
Presented in the following table are details of CMS Energy’s forward sales contracts under this program at December 31, 2022:
Forward Price Per Share
Contract DateMaturity DateNumber of SharesInitialDecember 31, 2022
August 3, 2022February 1, 20242,944,20767.59 67.83 
August 24, 2022February 26, 20241,677,93869.46 69.69 
August 29, 2022February 26, 20241,783,38868.18 68.38 
Schedule of Preferred Stock Presented in the following table are details of CMS Energy’s Series C preferred stock at December 31, 2022 and 2021:
Depositary Share Par Value Depositary Share Optional Redemption PriceNumber of Depositary Shares AuthorizedNumber of Depositary Shares Outstanding
Cumulative, redeemable perpetual$25 $25 9,200,000 9,200,000 
Consumers Energy Company  
Debt Instrument [Line Items]  
Summary of Long-Term Debt
Presented in the following table is Consumers’ long-term debt at December 31:
In Millions
Interest Rate
(%)		Maturity20222021
Consumers
First mortgage bonds
0.350 2023$300 $300 
3.375 2023325 325 
3.125 2024250 250 
3.190 202452 52 
3.680 2027100 100 
3.390 202735 35 
3.800 2028300 300 
3.600 2032350 — 
3.180 2032100 100 
5.800 2035175 175 
3.520 2037335 335 
4.010 2038215 215 
6.170 204050 50 
4.970 204050 50 
4.310 2042263 263 
3.950 2043425 425 
4.100 2045250 250 
3.250 2046450 450 
3.950 2047350 350 
4.050 2048550 550 
4.350 2049550 550 
3.750 2050300 300 
3.100 2050550 550 
3.500 2051575 575 
2.650 2052300 300 
4.200 2052450 — 
3.860 205250 50 
4.280 2057185 185 
2.500 2060525 525 
4.350 2064250 250 
variable
1
206976 76 
variable
1
2070134 134 
variable
1
2070127 127 
$8,997 $8,197 
Tax-exempt revenue bonds0.875 
2
203535 35 
1.800 
3
204975 75 
$110 $110 
Securitization bonds3.343 
4
2025-2029
5
170 198 
Term loan facilityvariable
6
20241,000 — 
Total principal amount outstanding$10,277 $8,505 
Current amounts(991)(365)
Unamortized discounts(27)(28)
Unamortized issuance costs(67)(62)
Total long-term debt$9,192 $8,050 
1The variable-rate bonds bear interest quarterly at a rate of three-month LIBOR minus 0.300 percent, subject to a zero-percent floor. At December 31, 2022, the interest rates were 4.469 percent for bonds due
September 2069, 4.375 percent for bonds due May 2070, and 3.484 percent for bonds due October 2070. The interest rate for all variable-rate bonds at December 31, 2021 was zero percent. The holders of these variable-rate bonds may put them to Consumers for redemption on certain dates prior to their stated maturity, including dates within one year of December 31, 2022.
2The interest rate on these tax-exempt revenue bonds will reset on October 8, 2026.
3The interest rate on these tax‑exempt revenue bonds will reset on October 1, 2024.
4The weighted-average interest rate for Consumers’ securitization bonds issued through its subsidiary, Consumers 2014 Securitization Funding, was 3.343 percent at December 31, 2022 and 3.290 percent at December 31, 2021.
5Principal and interest payments are made semiannually.
6Loans under this facility have an interest rate of one-month Term SOFR plus 0.650 percent. At December 31, 2022, the weighted-average interest rate for the loans issued under this facility was 4.975 percent at December 31, 2022.
Schedule of Major Long-Term Debt Issuances and Retirements Presented in the following table is a summary of major long-term debt issuances during 2022:
Principal
(In Millions)		Interest RateIssuance DateMaturity Date
NorthStar Clean Energy, including subsidiaries
Term loan facility1
$100 variableDecember 2022September 2023
Total NorthStar Clean Energy, including subsidiaries$100 
Consumers
Term loan facility2
$1,000 variableJuly 2022January 2024
First mortgage bonds350 3.600 %August 2022August 2032
First mortgage bonds 450 4.200 %August 2022September 2052
Total Consumers$1,800 
Total CMS Energy$1,900 
1    In December 2022, a subsidiary of NorthStar Clean Energy entered into a $185 million unsecured term loan credit agreement. Under this credit agreement, $100 million of loans have been issued as of December 31, 2022. In January 2023, an additional $30 million was borrowed under the unsecured term loan credit agreement.
2    In July 2022, Consumers entered into a delayed-draw $1.0 billion unsecured term loan credit agreement. Under this credit agreement, Consumers issued loans of $550 million in September 2022 and $450 million in November 2022. In January 2023, Consumers repaid $500 million of the term loan credit agreement.
Schedule of Debt Maturities
Debt Maturities: At December 31, 2022, the aggregate annual maturities for long-term debt for the next five years, based on stated maturities or earlier put dates, were:
In Millions
20232024202520262027
CMS Energy, including Consumers
Long-term debt
CMS Energy, parent only$— $250 $250 $300 $625 
Consumers
991 1,332 31 32 168 
NorthStar Clean Energy, including subsidiaries100 — — — — 
Total CMS Energy1
$1,091 $1,582 $281 $332 $793 
Consumers
Long-term debt$991 $1,332 $31 $32 $168 
1    This amount excludes debt issuance costs, related to the term loan agreement of a subsidiary of NorthStar Clean Energy, of less than $1 million
Schedule of Revolving Credit Facilities The following credit facilities with banks were available at December 31, 2022:
In Millions
Expiration DateAmount of FacilityAmount BorrowedLetters of Credit OutstandingAmount Available
CMS Energy, parent only
December 14, 20271
$550 $— $18 $532 
September 22, 2024
50 — 50 — 
NorthStar Clean Energy, including subsidiaries
September 25, 20252
$37 $— $37 $— 
Consumers3
December 14, 2027
$1,100 $— $29 $1,071 
November 18, 2024
250 — 27 223 
1There were no borrowings under this facility during the year ended December 31, 2022.
2This letter of credit facility is available to Aviator Wind Equity Holdings. For more information regarding Aviator Wind Equity Holdings, see Note 18, Variable Interest Entities.
3Obligations under these facilities are secured by first mortgage bonds of Consumers. There were no borrowings under these facilities during the year ended December 31, 2022.
Schedule of Preferred Stock Presented in the following table are details of Consumers’ preferred stock at December 31, 2022 and 2021:
Par ValueOptional Redemption PriceNumber of Shares AuthorizedNumber of Shares Outstanding
Cumulative, with no mandatory redemption
$100 $110 7,500,000 373,148