CMS Energy
CMS Energy is a publicly traded Michigan utility holding company that delivers electricity to 1.9 million customers and natural gas to 1.8 million customers through its Consumers Energy subsidiary, serving 6.8 million of Michigan's 10 million residents under rates regulated by the Michigan Public Service Commission.
- Company typePublic
- Founded1987
- HeadquartersJackson, United States
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
CMS Energy firmographics
Firmographics- Name
- CMS Energy
- Legal name
- CMS Energy Corporation
- Website
- https://cmsenergy.com
- Company type
- Public
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- CMS Energy is a publicly traded Michigan utility holding company that delivers electricity to 1.9 million customers and natural gas to 1.8 million customers through its Consumers Energy subsidiary, serving 6.8 million of Michigan's 10 million residents under rates regulated by the Michigan Public Service Commission.
- Ownership category
- akta.pro rank
CMS Energy industry classification
Industry- Product category
- Electric and Natural Gas Utility Services
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Natural Gas Distribution (221210), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- Microgrid Controllers, Energy Management & DER Orchestration (MGC, SCADA, Optimization) (EUAFAJAH)
- akta.pro secondary industry
- Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB)
Keywords
Where CMS Energy is headquartered
LocationHeadquarters
- HQ city
- Jackson
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
CMS Energy business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain
Revenue model
- Regulated Electric Utility Revenue: CMS Energy generates the majority of revenue through its regulated utility subsidiary Consumers Energy, which provides electricity to 1.9 million customers in Michigan. Revenue is driven by rate-base growth and regulated operations with rates approved by the Michigan Public Service Commission (MPSC).
- Regulated Natural Gas Utility Revenue: Natural gas delivery services to 1.8 million customers in 54 Michigan counties. Revenue is regulated by MPSC and includes gas cost recovery mechanisms.
- Independent Power Generation (NorthStar Clean Energy): NorthStar Clean Energy provides independent power generation in several states, helping clients reach business and sustainability goals with custom energy and carbon reduction products. Also includes natural gas assets and energy marketing for non-utility segment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Regulated electric utility rates |
| Usage-based | Monthly | Electric rate case outcome |
| Subscription | Quarterly | Quarterly dividend |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
CMS Energy product offering
Product offeringCore offering
CMS Energy is a public utility holding company that generates, transmits, and distributes electricity and natural gas through its principal subsidiary Consumers Energy, serving 1.9 million electric customers and 1.8 million natural gas customers across Michigan's Lower Peninsula counties. The company also operates independent power generation, natural gas assets, and renewable energy projects through its NorthStar Clean Energy subsidiary.
Product overview
CMS Energy operates as a regulated utility company with two primary business units: Consumers Energy, its largest electric and natural gas utility serving Michigan residents, and NorthStar Clean Energy, its independent power generation subsidiary. The company's core product portfolio centers on regulated electricity and natural gas delivery services through Consumers Energy, supplemented by non-regulated power generation and renewable energy solutions through NorthStar Clean Energy. A key modernization initiative is the Smart Energy program, which implements smart meter infrastructure and grid automation technologies to enhance operational efficiency and customer service.
Differentiator
Problem solved
Functional benefit
Products and services
- Consumers Energy Electric Service Regulated electric distribution service providing electricity to 1.9 million residential, commercial, and industrial customers across 62 of Michigan's Lower Peninsula counties, serving a 13,000 square mile service territory.
- Consumers Energy Natural Gas Delivery Regulated natural gas distribution service providing gas for heating and other uses to 1.8 million customers in 54 of Michigan's 68 Lower Peninsula counties, supported by one of the country's largest underground natural gas storage facilities.
- NorthStar Clean Energy Independent Power Generation Independent power generation and energy marketing services that help clients meet business and sustainability goals with custom energy and carbon reduction products, including solar projects such as Branch Solar (200 MWac) and Genesee Solar (41 MWac).
Quantifiable outcome
- 6-8% annual earnings growth with annual compounding
- +4 more outcomes
Companies that use CMS Energy
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
CMS Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
CMS Energy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Marathon CapitalminorMarathon Capital successfully advised NorthStar Clean Energy on tax equity financing and tax credit sales for its Branch Solar (200 MWac) and Genesee Solar (41 MWac) projects in Michigan. The Branch Solar project represents NorthStar's largest solar asset to date. Both projects are expected to provide low-cost carbon-free power while supporting local economies and customers' sustainability goals.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
CMS Energy competitors and assessment
Company assessmentDirect peers
- DTE Energy: DTE Energy is Michigan's other large investor-owned utility, providing electric and natural gas service across the same state. Direct overlap in customer base, regulatory environment (MPSC), and energy transition strategy makes it the most comparable peer.
- WEC Energy Group: WEC Energy Group is a Midwest regulated utility holding company serving Wisconsin, Illinois, Minnesota, and Michigan with electric, natural gas, and renewable generation. Comparable business model of regulated rate-base growth and similar customer scale.
- Alliant Energy: Alliant Energy is a Midwest utility holding company with regulated electric and natural gas operations in Iowa, Wisconsin, and Minnesota. Comparable scale, business mix, and regulatory-driven earnings model.
Broad incumbents
- NextEra Energy: NextEra Energy is the world's largest renewable energy generator and a major regulated utility (FPL). Relevant as a broader incumbent in clean energy transition, rate-base growth, and dividend aristocrat utility investing, with a much larger scale.
- Duke Energy: Duke Energy is one of the largest U.S. regulated utility holding companies serving the Southeast with electric and natural gas operations. Comparable business model of large-scale regulated rate-base growth and clean energy transition.
- Southern Company: Southern Company is a large diversified regulated utility holding company with electric and gas operations across the Southeast. Comparable diversified regulated utility business model with significant capex and rate-base growth exposure.
- Xcel Energy: Xcel Energy is a major regulated utility serving eight Midwestern and Western states with a leading renewable energy portfolio. Comparable business model with strong emphasis on clean energy transition and rate-base growth.
- American Electric Power: American Electric Power is one of the largest U.S. electric utility holding companies with regulated transmission and distribution across multiple states. Comparable regulated utility model with significant infrastructure capex programs.
- Edison International: Edison International is a California-based regulated electric utility holding company (Southern California Edison). Comparable regulated utility business model, although it is more geographically concentrated and faces different regulatory dynamics.
- Public Service Enterprise Group: Public Service Enterprise Group (PSEG) is a New Jersey-based regulated utility holding company with electric and natural gas operations. Comparable diversified utility model, and CMS board director Ralph Izzo previously served as PSEG's Chairman/CEO.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
CMS Energy social profiles
Digital presenceCMS Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
CMS Energy leadership team
Management profileNumber of profiles
Profiles27 records
CMS Energy subsidiaries and ownership
Company hierarchySubsidiaries2 records
CMS Energy funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CMS Energy M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CMS Energy
What does CMS Energy do?
CMS Energy is a public utility holding company that generates, transmits, and distributes electricity and natural gas through its principal subsidiary Consumers Energy, serving 1.9 million electric customers and 1.8 million natural gas customers across Michigan's Lower Peninsula counties. The company also operates independent power generation, natural gas assets, and renewable energy projects through its NorthStar Clean Energy subsidiary.
Is CMS Energy a public or private company?
CMS Energy is a public company. It is classified as public and is currently operating.
When was CMS Energy founded?
CMS Energy was founded in 1987. It employs 5,001 to 10,000 people.
Where is CMS Energy based?
CMS Energy is headquartered in Jackson, United States, in the North America region.
How does CMS Energy make money?
Three revenue lines are on record. Regulated Electric Utility Revenue is the primary driver. The others are regulated Natural Gas Utility Revenue and independent Power Generation (NorthStar Clean Energy).
Who are CMS Energy's main competitors?
Direct peers on record are DTE Energy, WEC Energy Group and Alliant Energy. Broad incumbents are NextEra Energy, Duke Energy, Southern Company, Xcel Energy, American Electric Power, Edison International and Public Service Enterprise Group.
Does CMS Energy have an API?
No public API is recorded for CMS Energy.
What industry is CMS Energy in?
CMS Energy's product category is Electric and Natural Gas Utility Services. Its primary akta.pro industry code is EUAFAJAH, Microgrid Controllers, Energy Management & DER Orchestration (MGC, SCADA, Optimization), with a secondary code of EUALALAB, Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP). Its NAICS code is 2211 and its SIC code is 4911.