What changed in this filing

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Item 1. Business

2021-02-11 compared with 2020-02-06 · 185 added, 161 removed, 351 unchanged (50% of the section changed)

5 unchanged sentences

CMS Enterprises, through its subsidiaries and equity investments, is engaged in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production.

EnerBank provides unsecured consumer installment loans, largely for financing home improvements .

EnerBank provides primarily unsecured, fixed-rate installment loans throughout the U.S.

to finance home improvements.

CMS Energy manages its businesses by the nature of services each provides, and operates principally in four business segments:

9 unchanged sentences

Consumers was incorporated in Maine in 1910 and became a Michigan corporation in 1968.

Consumers owns and operates electric generation, transmission, and distribution facilities and gas transmission, storage, and distribution facilities.

Consumers owns and operates electric generation and distribution facilities and gas transmission, storage, and distribution facilities.

It provides electricity and/or natural gas to 6.8 million of Michigan’s 10 million residents.

22 unchanged sentences

Electric Utility Operations:

Consumers’ electric utility operations, which include the generation, purchase, transmission, distribution, and sale of electricity , generated operating revenue of $4.4 billion in 2019 , $4.6 billion in 2018 , and $4.4 billion in 2017 .

Consumers’ electric utility operations, which include the generation, purchase, distribution, and sale of electricity, generated operating revenue of $4.4 billion in 2020 and 2019, and $4.6 billion in 2018.

Consumers’ electric utility customer base consists of a mix of primarily residential, commercial, and diversified industrial customers in Michigan’s Lower Peninsula.

1 unchanged sentence

Consumers’ electric utility operations are not dependent on a single customer, or even a few customers, and the loss of any one or even a few of Consumers’ largest customers is not reasonably likely to have a material adverse effect on Consumers’ financial condition.

In 2019 , Consumers’ electric deliveries were 37 billion kWh, which included ROA deliveries of four billion kWh, resulting in net bundled sales of 33 billion kWh.

In 2020, Consumers’ electric deliveries were 35 billion kWh, which included ROA deliveries of three billion kWh, resulting in net bundled sales of 32 billion kWh.

In 2019, Consumers’ electric deliveries were 37 billion kWh, which included ROA deliveries of four billion kWh, resulting in net bundled sales of 33 billion kWh.

6 unchanged sentences

Electric Utility Properties:

Consumers owns and operates electric generation, transmission, and distribution facilities .

Consumers owns and operates electric generation and distribution facilities.

For details about Consumers’ electric generation facilities, see the Electric Utility Generation and Supply Mix section that follows this Electric Utility Properties section.

Consumers’ transmission and distribution systems consist of:

213 miles of transmission overhead lines operating at 138 kV

Consumers’ distribution system consists of:

• 205 miles of high-voltage distribution overhead lines operating at 138 kV

9 unchanged sentences

Electric Utility Generation and Supply Mix:

During 2020, Consumers announced a goal of achieving net-zero carbon emissions from its electric business by 2040.

This goal includes not only emissions from Consumers’ owned generation, but also emissions from the generation of power purchased through long-term PPAs and from the MISO energy market.

Consumers expects to reduce carbon emissions of its owned generation by more than 90 percent from its 2005 levels by 2040 through execution of its Clean Energy Plan, which calls for replacing its coal-fueled generation predominantly with investment in renewable energy.

The remaining emissions will be offset through alternative measures including, but not limited to, carbon sequestration, landfill methane emission capture, and large-scale tree planting.

Specifically, the Clean Energy Plan provides for the retirement of the D.E.

Karn 1 & 2 coal-fueled generating units in 2023 and the potential retirement of the J.H.

Campbell 1 & 2 coal-fueled generating units in 2031 or earlier.

Presented in the following table are details about Consumers’ 2020 electric generation and supply mix:

Number of Units and Year Entered Service

Name and Location (Michigan) Number of Units and Year Entered Service 2020

Generation Capacity

Electric Supply

Name and Location (Michigan)

Coal steam generation

Campbell 1 & 2 – West Olive

2 Units, 1962-1967

Campbell 1 & 2 – West Olive 2 Units, 1962-1967 540 1,538

Campbell 3 – West Olive 2

1 Unit, 1980 785 4,804

Karn 1 & 2 – Essexville 3

1 unchanged sentence

Oil/Gas steam generation

Karn 3 & 4 – Essexville

2 Units, 1975-1977

Karn 3 & 4 – Essexville 2 Units, 1975-1977 1,058 37

Hydroelectric

Ludington – Ludington

6 Units, 1973

Conventional hydro generation – various locations

35 Units, 1906-1949

Ludington – Ludington 6 Units, 1973 975 4

Conventional hydro generation – various locations 35 Units, 1906-1949 76 482

Gas combined cycle

Jackson – Jackson

Zeeland – Zeeland

3 Units, 2002

Jackson – Jackson 1 Unit, 2002 547 1,786

Zeeland – Zeeland 3 Units, 2002 534 3,465

Gas combustion turbines

Zeeland (simple cycle) – Zeeland

2 Units, 2001

Zeeland (simple cycle) – Zeeland 2 Units, 2001 318 601

Wind generation

4 unchanged sentences

56 Turbines, 2012 16 273

Gratiot Farms Wind Project – Gratiot County 60 Turbines, 2020 — 22

Solar generation

Solar Gardens – Allendale and Kalamazoo

15,100 Panels, 2016

Solar Gardens – Allendale and Kalamazoo 15,100 Panels, 2016 2 6

Total owned generation 5,350 14,983

Purchased power 6

Coal generation – primarily T.E.S.

Coal generation – T.E.S.

Filer City 60 513

Gas generation – MCV Facility 7

6 unchanged sentences

Total purchased and interchange power 2,577 19,637

Total supply 7,927 34,620

Less distribution and transmission loss 2,810

Total net bundled sales 31,810

Represents generation capacity during the summer months (planning year 2019 capacity as reported to MISO and limited by interconnection service limits), except for Cross Winds ® Energy Park Phase III, which began operation in December 2019.

1 Represents generation capacity during the summer months (planning year 2020 capacity as reported to MISO and limited by interconnection service limits), except for the Gratiot Farms Wind Project, which

began operation in December 2020.

For wind and solar generation, the amount represents the effective load-carrying capability.

13 unchanged sentences

Owned generation

Coal 7,960 9,776 9,804

Gas 5,883 6,289 5,272

Renewable energy 1,505 1,258 1,187

Net pumped storage 1

(371) (308) (325)

Total owned generation 14,983 17,020 15,943

5 unchanged sentences

Net interchange power 3

2,655 2,059 4,953

Total purchased and interchange power 19,637 18,666 21,304

Total supply 34,620 35,686 37,247

1 Represents Consumers’ share of net pumped-storage generation.

12 unchanged sentences

Financial Statements and Supplementary Data—Notes to the Consolidated Financial Statements—Note 4, Contingencies and Commitments—Contractual Commitments.

During 2019 , 27 percent of the energy Consumers provided to customers was generated by its coal-fueled generating units, which burned six million tons of coal and produced a combined total of 9,776 GWh of electricity.

During 2020, 23 percent of the energy Consumers provided to customers was generated by its coal-fueled generating units, which burned five million tons of coal and produced a combined total of 7,960 GWh of electricity.

In order to obtain the coal it needs, Consumers enters into physical coal supply contracts.

13 unchanged sentences

Consumers’ electric utility business is subject to actual and potential competition from many sources, in both the wholesale and retail markets, as well as in electric generation, electric delivery, and retail services.

Michigan law allows electric customers in Consumers’ service territory to buy electric generation service from alternative electric suppliers in an aggregate amount capped at ten percent, with certain exceptions.

At December 31, 2020, electric deliveries under the ROA program were at the ten‑percent limit.

Of Consumers’ 1.8 million electric customers, 285 customers , or 0.02 percent , purchased electric generation service under the ROA program.

Of Consumers’ 1.9 million electric customers, fewer than 300, or 0.02 percent, purchased electric generation service under the ROA program.

For additional information, see Item 7.

8 unchanged sentences

• offering tariff-based incentives that support economic development

providing non‑energy services and value to customers

• monitoring activity in adjacent geographical areas

1 unchanged sentence

Gas Utility Operations:

Consumers’ gas utility operations, which include the purchase, transmission, storage, distribution, and sale of natural gas , generated operating revenue of $1.9 billion in 2019 , $1.9 billion in 2018 , and $1.8 billion in 2017 .

Consumers’ gas utility operations, which include the purchase, transmission, storage, distribution, and sale of natural gas, generated operating revenue of $1.8 billion in 2020, and $1.9 billion in 2019 and 2018.

Consumers’ gas utility customer base consists of a mix of primarily residential, commercial, and diversified industrial customers in Michigan’s Lower Peninsula.

14 unchanged sentences

• eight compressor stations with a total of 167,017 installed and available horsepower

In 2019, Consumers released its Methane Reduction Plan, which set a goal of net-zero methane emissions from its natural gas delivery system by 2030.

Consumers plans to reduce methane emissions from its system by about 80 percent by accelerating the replacement of aging pipe, rehabilitating or retiring outdated infrastructure, and adopting new technologies and practices.

The remaining emissions will be offset by purchasing and/or producing renewable natural gas.

Gas Utility Supply:

15 unchanged sentences

Presented in the following table is information about the independent power plants in which CMS Energy had an ownership interest at December 31, 2020:

Ownership Interest

Gross Capacity ¹

Location Ownership Interest

(%) Primary Fuel Type Gross Capacity

2020 Net Generation

Primary Fuel Type

Dearborn, Michigan

Gaylord, Michigan

Paulding County, Ohio

Comstock, Michigan

Delta Township, Michigan

Phillips, Wisconsin

Filer City, Michigan

New Bern, North Carolina

Flint, Michigan

Grayling, Michigan

Dearborn, Michigan 100 Natural gas 770 5,029

Gaylord, Michigan 100 Natural gas 134 4

Paulding County, Ohio 100 Wind 105 286

Comstock, Michigan 100 Natural gas 76 78

Delta Township, Michigan 100 Solar 24 42

Phillips, Wisconsin 100 Solar 3 5

Coke County, Texas 2

51 Wind 525 537

Filer City, Michigan 50 Coal 73 510

New Bern, North Carolina 50 Wood waste 50 229

Flint, Michigan 50 Wood waste 40 91

Grayling, Michigan 50 Wood waste 38 66

Total 1,838 6,877

1 Represents the intended full-load sustained output of each plant.

The amount of capacity relating to CMS Energy’s ownership interest was 1,480 MW at December 31, 2020.

The operating revenue from independent power production was $32 million in 2019 , $19 million in 2018 , and $16 million in 2017 .

2 Began operation in September 2020.

The operating revenue from independent power production was $32 million in 2020 and 2019, and $19 million in 2018.

Energy Resource Management:

CMS ERM purchases and sells energy commodities in support of CMS Energy’s generating facilities with a focus on optimizing CMS Energy’s independent power production portfolio.

In 2019 , CMS ERM marketed six bcf of natural gas and 6,722 GWh of electricity.

In 2020, CMS ERM marketed five bcf of natural gas and 7,080 GWh of electricity.

Electricity marketed by CMS ERM was generated by independent power production of the enterprises segment and by unrelated third parties.

4 unchanged sentences

EnerBank Operations:

EnerBank is a Utah state-chartered, FDIC-insured industrial bank providing unsecured consumer installment loans, largely for financing home improvements .

EnerBank is a Utah state-chartered, FDIC-insured industrial bank providing primarily unsecured, fixed-rate installment loans throughout the U.S.

to finance home improvements.

EnerBank works with strategic business partners and contractors throughout the U.S.

2 unchanged sentences

EnerBank’s operating revenue was $262 million in 2020, $221 million in 2019, and $157 million in 2018.

All of the loans originated by EnerBank in 2019 were fixed-rate consumer installment loans.

EnerBank’s average loan size is $10,000 and all of the loans originated by EnerBank in 2020 were fixed-rate installment loans.

The distribution of borrowers throughout the U.S.

is generally consistent with the population distribution by state.

EnerBank’s average loan size is $10,000 .

EnerBank Competition:

8 unchanged sentences

CMS Energy, Consumers, and their subsidiaries are subject to regulation by various federal, state, and local governmental agencies, including those described in the following sections.

If CMS Energy or Consumers failed to comply with applicable laws and regulations, they could become subject to fines, penalties, or disallowed costs, or be required to implement additional compliance, cleanup, or remediation programs, the cost of which could be material.

For more information on the potential impacts of government regulation affecting CMS Energy and Consumers, see Item 1A.

Risk Factors, Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations—Outlook, and Item 8.

Financial Statements and Supplementary Data—Notes to the Consolidated Financial Statements—Note 3, Regulatory Matters.

FERC and NERC

21 unchanged sentences

this commitment extends beyond compliance with applicable laws and regulations.

CMS Energy and Consumers continue to focus on opportunities to reduce their carbon footprint in electric generation.

Through its Clean Energy Plan, Consumers expects to reduce carbon emissions of its owned generation by more than 90 percent from its 2005 levels by 2040 , by replacing its coal-fueled generation predominantly with investment in renewable energy .

In February 2020, Consumers announced a goal of achieving net-zero carbon emissions from its electric business by 2040.

This goal includes not only emissions from Consumers’ owned generation, but also emissions from the generation of power purchased through long-term PPAs and from the MISO energy market.

The remaining emissions will be offset through alternative measures including, but not limited to, carbon sequestration, landfill methane emission capture, and large-scale tree planting.

During 2020, Consumers provided 11 percent of its electricity (self-generated and purchased) from renewable sources.

Consumers owns and operates two wind farms:

Lake Winds ® Energy Park and Cross Winds ® Energy Park.

A third phase of Consumers’ Cross Winds ® Energy Park, with nameplate capacity of 76 MW, began operations in December 2019.

During 2019, Consumers began construction of a 150-MW wind generation project and entered into an agreement to purchase another with capacity up to 166 MW;

both projects are expected to begin commercial operations in 2020.

Additionally, Consumers entered into a 20‑year agreement to purchase 100 MW of renewable energy from a solar generating facility expected to begin operations in 2021.

Additionally, Consumers began operation of Gratiot Farms Wind Project, a 150-MW wind generation project, in December 2020 and expects to take full ownership and begin commercial operation of another with capacity of up to 166 MW in early 2021.

Furthermore, Consumers has executed agreements to purchase another wind generation project under development, with capacity of up to 201 MW, and a solar generating facility under development, with capacity of up to 150 MW.

For each of these projects, Consumers expects to take full ownership and begin commercial operation of the project in 2022.

In addition to Consumers’ efforts to reduce the electric utility’s carbon footprint, it is also making efforts to reduce the gas utility’s methane footprint.

In 2019, Consumers released its Methane Reduction Plan, which set a goal of net-zero methane emissions from its natural gas delivery system by 2030.

The remaining emissions will be offset by purchasing and/or producing renewable natural gas.

CMS Energy, Consumers, and their subsidiaries are subject to various federal, state, and local environmental regulations for air and water quality, solid waste management, and other matters.

14 unchanged sentences

Consumers’ estimate of capital and cost of removal expenditures to comply with regulations relating to ash disposal is $156 million from 2021 through 2025.

Consumers uses substantial amounts of water to operate and cool its electric generating plants.

Consumers uses substantial amounts of water to operate and cool its electric generating plants and gas compression stations.

Water discharge quality is regulated and administered by EGLE under the federal NPDES program.

To comply with such regulation, Consumers’ facilities have discharge monitoring programs.

The EPA issued final regulations for wastewater discharges from electric generating plants in 2015 and amended them in 2017.

The EPA proposed additional changes to its wastewater discharges regulations in November 2019, but has not finalized revisions.

The EPA issued final regulations for wastewater discharges from electric generating plants in 2015 and amended them in 2017 and 2020.

Consumers’ estimate of capital expenditures to comply with these regulations as presently promulgated is $23 million from 2021 through 2025.

In 2014, the EPA finalized its cooling water intake rule, which requires Consumers to evaluate the biological impact of its cooling water intake systems and ensure that it is using the best technology available to minimize adverse environmental impacts.

In 2014, the EPA finalized its cooling water intake rule for electric generating units, which requires Consumers to evaluate the biological impact of its cooling water intake systems and ensure that it is using the best technology available to minimize adverse environmental impacts.

Consumers’ estimate of capital expenditures to comply with these regulations is $38 million from 2021 through 2025.

2 unchanged sentences

Consumers’ estimate of ongoing capital expenditures to comply with these regulations is $43 million from 2021 through 2025.

Consumers’ future costs to comply with solid waste disposal, water, and air environmental regulations may vary depending on future legislation, litigation, or rulemaking.

Consumers’ future costs to comply with solid waste disposal, water, and air environmental regulations may vary depending on future legislation, litigation, executive orders, treaties, or rulemaking.

For further information concerning estimated capital expenditures related to solid waste disposal, water, and air, see Item 7.

4 unchanged sentences

As CMS Energy or Consumers renews its policies, it is possible that some of the present insurance coverage may not be renewed or obtainable on commercially reasonable terms due to restrictive insurance markets.

Presented in the following table are the number of employees of CMS Energy and Consumers:

Human Capital

CMS Energy and Consumers employ a highly trained and skilled workforce comprised of union, non ‑ union, and seasonal employees, and also uses contractors.

Presented in the following table are the number of employees and contractors of CMS Energy and Consumers:

December 31 2020 2019 2018

CMS Energy, including Consumers

2 unchanged sentences

Part-time employees 86 67 65

Total employees

Contractors 508 509 656

Total workforce 9,345 9,298 9,281

Full-time employees 7,617 7,642 7,504

1 unchanged sentence

Part-time employees 10 17 14

Total employees

Contractors 508 509 656

Total workforce 8,738 8,762 8,777

1 Consumers’ seasonal workforce peaked at 603 employees during 2020, and 614 employees during 2019 and 2018.

Seasonal employees work primarily during the construction season.

At December 31, 2020, unions represented 41 percent of CMS Energy’s employees and 44 percent of Consumers’ employees.

The UWUA represents Consumers’ operating, maintenance, construction, and customer contact center employees.

The USW represents Zeeland plant employees.

For information about CMS Energy’s and Consumers’ collective bargaining agreements, see Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations—Outlook—Other Outlook and Uncertainties and Item 8.

Financial Statements and Supplementary Data—Notes to the Consolidated Financial Statements—Note 12, Retirement Benefits.

Consumers’ seasonal workforce peaked at 614 employees during 2019 and 2018 , and 598 employees during 2017 .

Seasonal employees work primarily during the construction season and are subject to yearly layoffs.

The safety of employees, customers, and the general public is a priority of CMS Energy and Consumers.

Accordingly, CMS Energy and Consumers have worked to integrate a set of safety principles into their business operations and culture.

These principles include complying with applicable safety, health, and security regulations and implementing programs and processes aimed at continually improving safety and security conditions.

On an annual basis, CMS Energy and Consumers set various safety goals, with their primary measure being the number of recordable incidents.

There were 101 recordable incidents in 2020 and 105 recordable incidents in 2019.

The target for 2021 is no more than 81 recordable incidents.

Over the last ten years, Consumers’ OSHA recordable incident rate has decreased by over 53 percent and ranks in the first quartile of its EEI peer group.

In response to the COVID-19 pandemic, CMS Energy and Consumers have issued a response plan that is focused on the health, safety, and well-being of their co-workers, customers, and communities.

CMS Energy and Consumers have aligned with safety and health guidelines from the CDC, OSHA, and the Michigan Department of Health and Human Services in order to protect their employees, customers, and contractors to ensure the continued delivery of critical energy services.

For more information about CMS Energy’s and Consumers’ response to the COVID-19 pandemic, see Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations—Executive Overview.

Within the utility industry, there is strong competition for rare, high-demand talent, including those related to renewable energy generation, technology, and data analytics.

In order to address this competition and to be able to meet its human capital needs, CMS Energy and Consumers provide compensation and benefits that are competitive with industry peers.

Furthermore, the companies have developed a comprehensive talent strategy, the Talent Roadmap, to attract, develop, and retain highly skilled employees.

The strategy focuses on three areas, which are summarized below.

• Cultivating a Purpose-Driven Culture:

This goal is aimed at ensuring all co-workers understand how their work drives the companies’ key strategic goals.

The companies’ progress toward a purpose-driven culture is measured through an engagement index and an empowerment index developed from data obtained through an annual employee engagement survey of union and non-union co-workers administered by a third party.

For the year ended December 31, 2020, the employee engagement index score was 83 percent, which ranked in the first quartile of U.S.

The employee empowerment index score, which measures the percentage of employees that feel the workplace promotes empowerment, was 63 percent.

Each employee empowerment question was individually benchmarked and ranked in the second quartile of high-performing companies.

The high-performing benchmark was created by the third party who administered the survey through a targeted sampling of working adults within the U.S.

who work for firms with widely respected reputations.

CMS Energy and Consumers have a goal to achieve a first-quartile score by 2024.

• Creating a Breakthrough Employee Experience:

A breakthrough employee experience is one that instills pride and ownership in one’s work.

To measure progress toward a breakthrough employee experience, the companies measure employees’ satisfaction with people processes, such as performance management and hiring and onboarding new employees.

For the year ended December 31, 2020, the employee experience index was 52 percent;

the companies have a goal to achieve a score of 80 percent within the next ten years.

• Building Skill Sets at Scale:

With an overarching goal of ensuring employees have the right skills to succeed, the companies measure progress in this area through achievement of workforce planning and hiring milestones and through a first-time skill attainment index to evaluate the effectiveness of training.

The companies develop skill sets in co-workers through a variety of means, including union apprenticeship programs and yearly trainings for newly required skills.

In 2021, the companies will launch a full-scale development program for leaders to enable robust succession planning and improve employee engagement and empowerment.

This talent strategy allows CMS Energy and Consumers to shape employees’ experience and enable leaders to coach and develop co-workers, source talent, and anticipate and adjust to changing skill sets in the business environment.

Diversity, Equity, and Inclusion

As a part of the companies’ Talent Roadmap, CMS Energy and Consumers also employ a comprehensive diversity, equity, and inclusion strategy designed to embed diversity, equity, and inclusion into all aspects of their business.

This is done through embedding standards for diversity, equity, and inclusion into all company processes and ensuring these standards are incorporated into all employee experiences.

To measure their success, the companies utilize select questions in the annual engagement survey to create a diversity, equity, and inclusion index.

For the year ended December 31, 2020, the diversity, equity, and inclusion index score was 76 percent;

the companies have a goal to achieve a score of 78 percent in 2021.

Co-workers are also empowered to engage in employee resource groups and events that encourage candid conversations around diversity, equity, and inclusion.

There are seven employee resource groups available to all co-workers;

these groups are, by date of origin:

• the Women’s Advisory Panel, contributing to the achievement of the corporate strategy by supporting the retention, development, and success of women

• the Minority Advisory Panel, promoting a culture of diversity and inclusion among all racial and ethnic minorities through education, leadership, development, and networking

• the Women’s Engineering Network, connecting and empowering women in the science, technology, engineering, and mathematics fields, while building capabilities to support company objectives

• the Veteran’s Advisory Panel, supporting former and active military personnel and assisting in recruiting and retaining veterans through career development

• GEN-ERGY, a multigenerational group designed to bridge the gap of learning, networking, and mentoring across the generations of the companies’ workforce

• the Pride Alliance of Consumers Energy, promoting an inclusive environment that is safe, supportive, and respectful for lesbian, gay, bi-sexual, and transgender persons and allies

• capABLE, aimed at removing barriers and creating pathways to meaningful work for employees of all abilities

Information About CMS Energy’s and Consumers’ Executive Officers

Presented in the following table are the company positions held during the last five years for each of CMS Energy’s and Consumers’ executive officers as of February 1, 2021:

Name, Age, Position(s)

Poppe (age 51)

President and CEO

7/2016 – Present

5/2016 – Present

Senior Vice President

3/2015 – 7/2016

President and CEO

7/2016 – Present

5/2016 – Present

Senior Vice President

3/2015 – 7/2016

Vice President

1/2011 – 3/2015

CMS Enterprises

Chairman of the Board, CEO, and Director

7/2016 – Present

7/2016 – 9/2017

Hayes (age 45) 1

Executive Vice President and CFO

5/2017 – Present

Executive Vice President and CFO

5/2017 – Present

CMS Enterprises

Executive Vice President, CFO, and Director

5/2017 – Present

Chairman of the Board and Director

10/2018 – Present

Name, Age, Position(s) Period

Rochow (age 46)

President, CEO, and Director 12/2020 – Present

Executive Vice President 1/2020 – 12/2020

1/2020 – Present

Senior Vice President 7/2016 – 1/2020

7/2016 – 1/2020

Vice President 3/2015 – 7/2016

3/2015 – 7/2016

President, CEO, and Director 12/2020 – Present

Executive Vice President 1/2020 – 12/2020

1/2020 – Present

Senior Vice President 7/2016 – 1/2020

7/2016 – 1/2020

Vice President 10/2010 – 7/2016

10/2010 – 7/2016

CMS Enterprises

Chairman of the Board, CEO, and Director 12/2020 – Present

Hayes (age 46) 1

Executive Vice President and CFO 5/2017 – Present

CMS Enterprises

Executive Vice President, CFO, and Director 5/2017 – Present

Chairman of the Board and Director 10/2018 – Present

Jean-Francois Brossoit (age 53) 2

Senior Vice President

4/2017 – Present

Senior Vice President 4/2017 – Present

Vice President 11/2016 – 4/2017

11/2016 – 4/2017

Senior Vice President

4/2017 – Present

Senior Vice President 4/2017 – Present

Vice President 11/2016 – 4/2017

11/2016 – 4/2017

Name, Age, Position(s)

Name, Age, Position(s) Period

Hendrian (age 52)

Senior Vice President

4/2017 – Present

Senior Vice President 4/2017 – Present

Vice President 3/2015 – 4/2017

3/2015 – 4/2017

Director of Human Resources 10/2012 – 3/2015

10/2012 – 3/2015

Senior Vice President

4/2017 – Present

Senior Vice President 4/2017 – Present

Vice President 3/2015 – 4/2017

3/2015 – 4/2017

Director of Human Resources 10/2012 – 3/2015

10/2012 – 3/2015

Hofmeister (age 44)

Senior Vice President

7/2017 – Present

Senior Vice President

7/2017 – Present

Senior Vice President 7/2017 – Present

Vice President 7/2016 – 7/2017

7/2016 – 7/2017

Executive Director, Policy Research, Analysis, and Public Affairs 6/2015 – 7/2016

6/2015 – 7/2016

Executive Director, Policy Research and Analysis 9/2013 – 6/2015

9/2013 – 6/2015

CMS Enterprises

Senior Vice President

9/2017 – Present

Senior Vice President 9/2017 – Present

Johnson (age 42) 3

Senior Vice President and General Counsel

5/2019 – Present

Senior Vice President and General Counsel 5/2019 – Present

Vice President and Deputy General Counsel 4/2016 – 5/2019

4/2016 – 5/2019

Senior Vice President and General Counsel

5/2019 – Present

Senior Vice President and General Counsel 5/2019 – Present

Vice President and Deputy General Counsel 4/2016 – 5/2019

4/2016 – 5/2019

CMS Enterprises

Senior Vice President, General Counsel, and Director

4/2019 – Present

Senior Vice President, General Counsel, and Director 4/2019 – Present

Vice President and General Counsel 10/2018 – 4/2019

10/2018 – 4/2019

Senior Vice President and General Counsel 8/2018 – 6/2020

8/2018 – Present

Venkat Dhenuvakonda Rao (age 50)

Senior Vice President

9/2016 – Present

Senior Vice President 9/2016 – Present

Vice President and Treasurer 7/2012 – 9/2016

7/2012 – 9/2016

Senior Vice President

9/2016 – Present

Senior Vice President 9/2016 – Present

Vice President and Treasurer 7/2012 – 9/2016

7/2012 – 9/2016

CMS Enterprises

11/2017 – Present

Senior Vice President

9/2016 – Present

Director 11/2017 – Present

Senior Vice President 9/2016 – Present

Vice President and Treasurer 7/2012 – 9/2016

7/2012 – 9/2016

Chairman of the Board 9/2016 – 5/2017

9/2016 – 5/2017

Name, Age, Position(s)

Name, Age, Position(s) Period

Rich (age 46)

Senior Vice President and Chief Customer Officer

8/2019 – Present

Senior Vice President and Chief Customer Officer 8/2019 – Present

Senior Vice President and Chief Information Officer 7/2016 – 8/2019

7/2016 – 8/2019

Vice President and Chief Information Officer 7/2014 – 7/2016

7/2014 – 7/2016

Senior Vice President and Chief Customer Officer

8/2019 – Present

Senior Vice President and Chief Customer Officer 8/2019 – Present

Senior Vice President and Chief Information Officer 7/2016 – 8/2019

7/2016 – 8/2019

Vice President and Chief Information Officer 7/2014 – 7/2016

LeeRoy Wells, Jr.

Senior Vice President 12/2020 – Present

Vice President 8/2017 – 12/2020

Executive Director, Electric Systems Operations and Maintenance

12/2015 – 8/2017

Barba (age 55)

Vice President, Controller, and CAO

2/2003 – Present

Vice President, Controller, and CAO

1/2003 – Present

Vice President, Controller, and CAO 2/2003 – Present

Vice President, Controller, and CAO 1/2003 – Present

CMS Enterprises

Vice President, Controller, and CAO

11/2007 – Present

Vice President, Controller, and CAO 11/2007 – Present

1 Prior to joining CMS Energy and Consumers, Mr.

14 unchanged sentences

CMS Energy routinely posts important information on its website and considers the Investor Relations section, www.cmsenergy.com/investor-relations, a channel of distribution.

Information contained on CMS Energy’s website is not incorporated herein.

Information contained on CMS Energy’s website is not incorporated

CMS Energy’s and Consumers’ annual reports on Form 10‑K, quarterly reports on Form 10‑Q, current reports on Form 8-K, and any amendments to those reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act are accessible free of charge on CMS Energy’s website.

8 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business