(CMSA) CMS Energy - Ratings and Ratios

CMS Energy Corporation is a multifaceted energy company with a significant presence in Michigan, operating through three distinct segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is responsible for the generation, purchase, transmission, distribution, and sale of electricity, utilizing a diverse range of energy sources including fossil-fuel-fired plants, renewable energy, and nuclear power. This segment's extensive transmission and distribution system spans across the state, comprising numerous miles of transmission and distribution lines, both overhead and underground, as well as substations that facilitate the efficient delivery of electricity to customers.

The company's Electric Utility segment has a substantial infrastructure in place, with 214 miles of transmission overhead lines, 188 miles of high-voltage distribution overhead lines, and 4 miles of high-voltage distribution underground lines, in addition to 4,431 miles of high-voltage distribution overhead lines, 19 miles of high-voltage distribution underground lines, 56,098 miles of electric distribution overhead lines, and 10,665 miles of underground distribution lines. This comprehensive network enables the company to provide reliable and efficient electricity services to its customers. Furthermore, the Electric Utility segment's generation capacity is bolstered by its ownership of various power plants, including those that utilize renewable energy sources, which helps to reduce the company's environmental footprint and contribute to a more sustainable energy mix.

In addition to its Electric Utility segment, CMS Energy Corporation's Gas Utility segment plays a crucial role in the company's overall operations, engaging in the purchase, transmission, storage, distribution, and sale of natural gas to customers across Michigan. This segment's gas transmission, storage, and distribution system is equally impressive, featuring 1,672 miles of transmission lines, 15 gas storage fields, 28,194 miles of distribution mains, and 8 compressor stations. The Gas Utility segment's extensive infrastructure enables it to provide safe and reliable natural gas services to its customers, which include residential, commercial, and industrial users.

The Enterprises segment is another key component of CMS Energy Corporation's business, focusing on independent power production and marketing activities, as well as the development of renewable generation. This segment owns interests in independent power plants with a combined capacity of 1,203 megawatts, which helps to further diversify the company's energy portfolio and reduce its dependence on traditional fossil fuels. Moreover, the company's Enterprises segment is involved in various other activities, including the operation of an industrial bank that provides unsecured consumer installment loans for financing home improvements, which helps to support the local economy and promote energy efficiency.

CMS Energy Corporation serves a large and diverse customer base, comprising 1.8 million electric customers and 1.8 million gas customers, including residential, commercial, and industrial users in Michigan's Lower Peninsula. With its headquarters in Jackson, Michigan, the company has a long history dating back to 1987, and its common stock is listed on the New York Stock Exchange under the ticker symbol CMSA, with the ISIN code US1258968601, and is classified under the GICS Sub Industry of Electric Utilities. The company's commitment to providing safe, reliable, and efficient energy services to its customers has earned it a reputation as a trusted and responsible energy provider in the region.