v3.25.2
Revenue (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2025Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$1,355 $385 $— $1,740 
Other— — 58 58 
Revenue recognized from contracts with customers$1,355 $385 $58 $1,798 
Leasing income— — 34 34 
Financing income2 2 — 4 
Consumers alternative-revenue programs2 — — 2 
Total operating revenue – CMS Energy$1,359 $387 $92 $1,838 
Consumers
Consumers utility revenue
Residential$619 $276 $895 
Commercial473 90 563 
Industrial199 10 209 
Other64 9 73 
Revenue recognized from contracts with customers$1,355 $385 $1,740 
Financing income2 2 4 
Alternative-revenue programs2 — 2 
Total operating revenue – Consumers$1,359 $387 $1,746 
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 $23 million for the three months ended June 30, 2025.
In Millions
Three Months Ended June 30, 2024Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$1,221 $305 $— $1,526 
Other— — 50 50 
Revenue recognized from contracts with customers$1,221 $305 $50 $1,576 
Leasing income— — 24 24 
Financing income2 2 — 4 
Consumers alternative-revenue programs3 — — 3 
Total operating revenue – CMS Energy$1,226 $307 $74 $1,607 
Consumers
Consumers utility revenue
Residential$547 $206 $753 
Commercial433 64 497 
Industrial174 8 182 
Other67 27 94 
Revenue recognized from contracts with customers$1,221 $305 $1,526 
Financing income2 2 4 
Alternative-revenue programs3 — 3 
Total operating revenue – Consumers$1,226 $307 $1,533 
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 $13 million for the three months ended June 30, 2024.
In Millions
Six Months Ended June 30, 2025Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$2,649 $1,432 $— $4,081 
Other— — 115 115 
Revenue recognized from contracts with customers$2,649 $1,432 $115 $4,196 
Leasing income— — 76 76 
Financing income5 4 — 9 
Consumers alternative-revenue programs4 — — 4 
Total operating revenue – CMS Energy$2,658 $1,436 $191 $4,285 
Consumers
Consumers utility revenue
Residential$1,213 $1,007 $2,220 
Commercial891 329 1,220 
Industrial372 40 412 
Other173 56 229 
Revenue recognized from contracts with customers$2,649 $1,432 $4,081 
Financing income5 4 9 
Alternative-revenue programs4 — 4 
Total operating revenue – Consumers$2,658 $1,436 $4,094 
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 $54 million for the six months ended June 30, 2025
In Millions
Six Months Ended June 30, 2024Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$2,350 $1,268 $— $3,618 
Other— — 102 102 
Revenue recognized from contracts with customers$2,350 $1,268 $102 $3,720 
Leasing income— — 51 51 
Financing income4 4 — 8 
Consumers alternative-revenue programs4 — — 4 
Total operating revenue – CMS Energy$2,358 $1,272 $153 $3,783 
Consumers
Consumers utility revenue
Residential$1,072 $871 $1,943 
Commercial793 271 1,064 
Industrial330 32 362 
Other155 94 249 
Revenue recognized from contracts with customers$2,350 $1,268 $3,618 
Financing income4 4 8 
Alternative-revenue programs4 — 4 
Total operating revenue – Consumers$2,358 $1,272 $3,630 
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 $29 million for the six months ended June 30, 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 June 30, 2025Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$1,355 $385 $— $1,740 
Other— — 58 58 
Revenue recognized from contracts with customers$1,355 $385 $58 $1,798 
Leasing income— — 34 34 
Financing income2 2 — 4 
Consumers alternative-revenue programs2 — — 2 
Total operating revenue – CMS Energy$1,359 $387 $92 $1,838 
Consumers
Consumers utility revenue
Residential$619 $276 $895 
Commercial473 90 563 
Industrial199 10 209 
Other64 9 73 
Revenue recognized from contracts with customers$1,355 $385 $1,740 
Financing income2 2 4 
Alternative-revenue programs2 — 2 
Total operating revenue – Consumers$1,359 $387 $1,746 
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 $23 million for the three months ended June 30, 2025.
In Millions
Three Months Ended June 30, 2024Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$1,221 $305 $— $1,526 
Other— — 50 50 
Revenue recognized from contracts with customers$1,221 $305 $50 $1,576 
Leasing income— — 24 24 
Financing income2 2 — 4 
Consumers alternative-revenue programs3 — — 3 
Total operating revenue – CMS Energy$1,226 $307 $74 $1,607 
Consumers
Consumers utility revenue
Residential$547 $206 $753 
Commercial433 64 497 
Industrial174 8 182 
Other67 27 94 
Revenue recognized from contracts with customers$1,221 $305 $1,526 
Financing income2 2 4 
Alternative-revenue programs3 — 3 
Total operating revenue – Consumers$1,226 $307 $1,533 
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 $13 million for the three months ended June 30, 2024.
In Millions
Six Months Ended June 30, 2025Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$2,649 $1,432 $— $4,081 
Other— — 115 115 
Revenue recognized from contracts with customers$2,649 $1,432 $115 $4,196 
Leasing income— — 76 76 
Financing income5 4 — 9 
Consumers alternative-revenue programs4 — — 4 
Total operating revenue – CMS Energy$2,658 $1,436 $191 $4,285 
Consumers
Consumers utility revenue
Residential$1,213 $1,007 $2,220 
Commercial891 329 1,220 
Industrial372 40 412 
Other173 56 229 
Revenue recognized from contracts with customers$2,649 $1,432 $4,081 
Financing income5 4 9 
Alternative-revenue programs4 — 4 
Total operating revenue – Consumers$2,658 $1,436 $4,094 
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 $54 million for the six months ended June 30, 2025
In Millions
Six Months Ended June 30, 2024Electric UtilityGas Utility
NorthStar Clean Energy1
Consolidated
CMS Energy, including Consumers
Consumers utility revenue$2,350 $1,268 $— $3,618 
Other— — 102 102 
Revenue recognized from contracts with customers$2,350 $1,268 $102 $3,720 
Leasing income— — 51 51 
Financing income4 4 — 8 
Consumers alternative-revenue programs4 — — 4 
Total operating revenue – CMS Energy$2,358 $1,272 $153 $3,783 
Consumers
Consumers utility revenue
Residential$1,072 $871 $1,943 
Commercial793 271 1,064 
Industrial330 32 362 
Other155 94 249 
Revenue recognized from contracts with customers$2,350 $1,268 $3,618 
Financing income4 4 8 
Alternative-revenue programs4 — 4 
Total operating revenue – Consumers$2,358 $1,272 $3,630 
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 $29 million for the six months ended June 30, 2024.