CMS Energy Corporation (CMS) Q4 2025 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.635 Thank you, Jason, and good morning, everyone. 00:00:03.635 -- 00:00:09.442 Before we get into the financial results, I'm very proud of the team in 2025, 00:00:09.442 -- 00:00:14.307 as you see from the slide. And I want to highlight a few of the big wins the CMS energy 00:00:14.307 -- 00:00:18.011 team delivered in 2025. First, 00:00:18.011 -- 00:00:23.477 I'm very pleased with our large load tariff, which was approved in November. 00:00:23.477 -- 00:00:27.132 Supplying energy for data centers is a national story. 00:00:27.132 -- 00:00:30.797 and the rush to serve is on the mind of utility leaders. 00:00:30.797 -- 00:00:35.923 And I'm very proud of the tariff the team worked so hard on this year because it's strategic 00:00:35.923 -- 00:00:40.569 and thoughtful. It protects our customers and supports growth in the state. 00:00:40.569 -- 00:00:45.555 This tariff provides certainty for our data centers as we bring new load onto the system 00:00:45.555 -- 00:00:50.962 and ensures existing customers don't pay a single cent for the investments. 00:00:50.962 -- 00:00:56.109 And in some cases, they will see tangible benefits as this new load supports more affordable 00:00:56.109 -- 00:00:59.128 rates. as we grow Michigan. 00:00:59.128 -- 00:01:04.174 Next, we received approval for our 20-year renewable energy plan, another area 00:01:04.174 -- 00:01:07.758 the team worked hard on to put the right plan together that meets the requirements in 00:01:07.758 -- 00:01:13.125 our state's energy law. More importantly, this approval highlights the constructive regulatory 00:01:13.125 -- 00:01:18.171 environment in Michigan and provides visibility and certainty for our long-term 00:01:18.171 -- 00:01:23.377 investments in solar and wind, providing ...