-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950124-03-002724.txt : 20030813
<SEC-HEADER>0000950124-03-002724.hdr.sgml : 20030813
<ACCEPTANCE-DATETIME>20030813160051
ACCESSION NUMBER:		0000950124-03-002724
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030812
ITEM INFORMATION:		
FILED AS OF DATE:		20030813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONSUMERS ENERGY CO
		CENTRAL INDEX KEY:			0000201533
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				380442310
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05611
		FILM NUMBER:		03841311

	BUSINESS ADDRESS:	
		STREET 1:		212 W MICHIGAN AVE
		CITY:			JACKSON
		STATE:			MI
		ZIP:			49201
		BUSINESS PHONE:		5177881030

	MAIL ADDRESS:	
		STREET 1:		212 W MICHIGAN AVE
		STREET 2:		M 946
		CITY:			JACKSON
		STATE:			MI
		ZIP:			49201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONSUMERS POWER CO
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CMS ENERGY CORP
		CENTRAL INDEX KEY:			0000811156
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				382726431
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09513
		FILM NUMBER:		03841312

	BUSINESS ADDRESS:	
		STREET 1:		FAIRLANE PLZ S STE 1100
		STREET 2:		330 TOWN CENTER DR
		CITY:			DEARBORN
		STATE:			MI
		ZIP:			48126
		BUSINESS PHONE:		3134369261

	MAIL ADDRESS:	
		STREET 1:		FAIRLANE PLAZA SOUTH, SUITE 1100
		STREET 2:		330 TOWN CENTER DRIVE
		CITY:			DEARBORN
		STATE:			MI
		ZIP:			48126
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k79027e8vk.txt
<DESCRIPTION>CURRENT REPORT DATED AUGUST 12, 2003
<TEXT>
<PAGE>
================================================================================

                                    FORM 8-K

                                 CURRENT REPORT


                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

        DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) AUGUST 12, 2003

<TABLE>
<CAPTION>
   COMMISSION       REGISTRANT; STATE OF INCORPORATION;         IRS EMPLOYER
  FILE NUMBER          ADDRESS; AND TELEPHONE NUMBER         IDENTIFICATION NO.
  -----------          -----------------------------         ------------------
<S>                 <C>                                      <C>
     1-9513                CMS ENERGY CORPORATION                38-2726431
                            (A MICHIGAN CORPORATION)
                                ONE ENERGY PLAZA
                            JACKSON, MICHIGAN 49201
                                 (517) 788-0550


     1-5611               CONSUMERS ENERGY COMPANY               38-0442310
                          (A MICHIGAN CORPORATION)
                              ONE ENERGY PLAZA
                          JACKSON, MICHIGAN 49201
                               (517) 788-0550
</TABLE>
<PAGE>
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On August 12, 2003, CMS Energy Corporation ("CMS Energy") issued a News Release,
in which it announced second quarter and first half 2003 results and provided
updates on its 2003 earnings guidance, business strategy, financing activities
and operations. Attached as Exhibit 99 to this report and incorporated herein by
reference is a copy of the CMS Energy News Release, furnished as a part of this
report.


The News Release contains "forward-looking statements", within the meaning of
the safe harbor provisions of the federal securities laws. The "forward-looking
statements" are subject to risks and uncertainties. They should be read in
conjunction with "CMS ENERGY FORWARD-LOOKING STATEMENTS, CAUTIONARY FACTORS AND
UNCERTAINTIES" found in Item 1 of CMS Energy's Form 10-K/A for the Fiscal Year
Ended December 31, 2002, filed on July 1, 2003 and "CONSUMERS FORWARD-LOOKING
STATEMENTS, CAUTIONARY FACTORS AND UNCERTAINTIES" found in Item 1 of Consumers
Energy Company's Form 10-K for the Fiscal Year Ended December 31, 2002, filed on
March 31, 2003 (both incorporated herein by reference), that discuss important
factors that could cause CMS Energy's and Consumers Energy Company's results to
differ materially from those anticipated in such statements.




<PAGE>

                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.



                                      CMS ENERGY CORPORATION

Dated:  August 13, 2003

                                      By:   /s/ Thomas J. Webb
                                          -------------------------
                                          Thomas J. Webb
                                          Executive Vice President and Chief
                                          Financial Officer


                                      CONSUMERS ENERGY COMPANY

Dated:  August 13, 2003

                                      By:    /s/ Thomas J. Webb
                                           -------------------------
                                           Thomas J. Webb
                                           Executive Vice President and Chief
                                           Financial Officer

<PAGE>

                               8-K EXHIBIT INDEX




EXHIBIT NO.             DESCRIPTION
- -----------             -----------

EX-99                   CMS Energy News Release dated August 12, 2003

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>k79027exv99w1.txt
<DESCRIPTION>CMS ENERGY NEWS RELEASE
<TEXT>
<PAGE>
                                                                    EXHIBIT (99)

[CMS ENERGY LOGO]                                                NEWS RELEASE



         CMS ENERGY ANNOUNCES SECOND QUARTER NET LOSS OF $45 MILLION, OR
             $0.31 PER SHARE, ASSOCIATED WITH PLANNED ASSET SALES;
                      REAFFIRMS ONGOING EARNINGS GUIDANCE

JACKSON, Mich., Aug. 12, 2003 -- CMS Energy (NYSE: CMS) announced a reported net
loss of $45 million, or $0.31 per share, for the second quarter of 2003, an
improvement over the same quarter of 2002, when it reported a net loss of $74
million, or $0.55 per share. Charges linked to the sale of the CMS Panhandle
Companies made up the bulk of the reported quarterly loss.

Ongoing (non-Generally Accepted Accounting Principles) net income for the second
quarter was $1 million, or $0.01 per share, compared to ongoing net income of
$17 million or $0.13 per share in the same period of 2002. Ongoing earnings
provide a key measure of the Company's present operating financial performance,
unaffected by discontinued operations, asset sales, accounting changes or other
items detailed in the attached summary financial statements.

Compared to last year, the 2003 second quarter ongoing results reflect benefits
from favorable movement in foreign exchange rates and higher non-regulated
business earnings, which were more than offset by higher financing costs and
reduced electric sales at CMS Energy's principal subsidiary, Consumers Energy.
Temperatures for the spring and early summer averaged about 2 degrees lower than
the similar period last year and as a result electric sales were down 4 percent.
The higher financing costs reflect the $925 million in bridge financing that CMS
Energy completed in April.

For the first six months of 2003, CMS Energy reported net income of $34 million,
or $0.24 per share, up from a loss of $32 million, or $0.24 per share, for the
first half of 2002. Ongoing income was $79 million, or $0.55 per share, compared
to $96 million, or $0.72 per share, for the same period in 2002.

Despite the continuing impact of cooler weather, the Company reaffirmed its
full-year earnings guidance of $0.80 to $0.90 per share on an ongoing basis,
citing continued aggressive cost management. The Company adjusted its guidance
for full-year reported earnings from roughly break even to a loss of about $1
per share, principally because of changes in the timing of asset sales, the
expected proceeds from those sales, pension expenses linked to the CMS Panhandle
Companies sale, and increased financing costs.

CMS Energy continues to make progress on its financial plan, reaching milestones
during the second quarter and early July that include:

               o   Closing more than $2 billion in asset sales
                        o   CMS Panhandle for $1.8 billion, including $1.2
                            billion in assumed debt
                        o   CMS Field Services for $113 million and a $50
                            million contingent note
                        o   CMS's Guardian pipeline interest for $26 million
                        o   Atacama transmission lines for $38 million

<PAGE>

               o   Completing $2.25 billion in financings at CMS Energy and
                   Consumers Energy to extend maturities and reduce interest
                   costs
                        o   At CMS Energy
                               -   $925 million in bridge bank financing
                               -   $300 million of 7.75 percent, seven-year
                                   senior debt
                               -   $150 million of 3.375 percent convertible
                                   debt
                        o   At Consumers Energy
                               -   $875 million in first mortgage bonds with
                                   five- to 10-year maturities and interest
                                   rates of 4 percent to 5.375 percent
                o   Consumers Energy ranked second nationally in customer
                    satisfaction for combined electric and gas utilities in an
                    annual survey by the American Customer Satisfaction Index.

Ken Whipple, CMS Energy's chairman and chief executive officer, said the latest
financial statements show the Company is continuing to make progress in
executing its back-to-basics strategy.

"We've got a solid business plan and it continues to show results. We're doing
what we said we were going to do: increase our financial flexibility and
liquidity and implement our back-to-basics strategy," Whipple said. "Our $2.25
billion in recent financings are an important part of our financial plan. They
allowed us to extend maturities and capitalize on some low-interest rate
opportunities. There are still many challenges ahead, but we continue to make
progress toward our goal of becoming a smaller, stronger company."

CMS Energy is an integrated energy company, which has as its primary business
operations an electric and natural gas utility, natural gas pipeline systems,
and independent power generation.

                                      # # #

For more information on CMS Energy, please visit our web site at:
www.cmsenergy.com

Media Contacts: Jeff Holyfield, 517-788-2394, or Dan Bishop, 517/788-2395

Investment Analyst Contact: CMS Energy Investor Relations, 517/788-2590

This news release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the federal securities laws. It should be read in
conjunction with the forward-looking statements cautionary factors in CMS
Energy's Securities and Exchange Commission filings that identify important
factors that could cause CMS Energy's results to differ materially from those
anticipated in such statements.

<PAGE>
                             CMS Energy Corporation
                        SUMMARY OF CONSOLIDATED EARNINGS
                    Condensed Consolidated Income Statements
                      (Millions, Except Per Share Amounts)



<TABLE>
<CAPTION>
                                                   Second Quarter                First Half
                                                    (Unaudited)                 (Unaudited)
                                             ------------------------     ----------------------
                                                2003          2002          2003          2002
                                             ----------    ----------    ----------    ----------
<S>                                          <C>           <C>           <C>           <C>
OPERATING REVENUE                            $    1,154    $    2,135    $    3,143    $    4,394

Operating Expenses                                  971         1,983         2,722         3,968
                                             ----------    ----------    ----------    ----------

OPERATING INCOME                             $      183    $      152    $      421    $      426

Other Income (Deductions)                            (1)           18            (3)           32

Fixed Charges                                       153           127           272           254

Income Taxes                                         34             6            74            74

Minority Interests                                    -             1             1             1
                                             ----------    ----------    ----------    ----------

INCOME (LOSS) FROM CONTINUING OPERATIONS     $       (5)   $       36    $       71    $      129

INCOME (LOSS) FROM DISCONTINUED OPERATIONS          (40)         (127)          (13)         (178)

CUMULATIVE EFFECT OF ACCOUNTING CHANGES               -            17           (24)           17
                                             ----------    ----------    ----------    ----------

NET INCOME (LOSS)                            $      (45)   $      (74)   $       34    $      (32)
                                             ==========    ==========    ==========    ==========

EARNINGS (LOSS) PER SHARE
     - BASIC                                 $    (0.31)   $    (0.55)   $     0.24    $    (0.24)

     - DILUTED                                    (0.31)        (0.55)         0.24         (0.24)
</TABLE>

<PAGE>

                             CMS Energy Corporation
                      SUMMARIZED COMPARATIVE BALANCE SHEETS
                              (Millions of Dollars)



<TABLE>
<CAPTION>
                                                As of June 30 (Unaudited)  December 31
                                                -------------------------  -----------
                                                    2003         2002         2002
                                                 ----------   ----------   ----------
<S>                                             <C>           <C>          <C>
ASSETS
  Cash and cash equivalents                      $      931   $      222   $      377
  Other current assets                                2,104        1,975        2,371
                                                 ----------   ----------   ----------
     Total current assets                        $    3,035   $    2,197   $    2,748
  Net plant and property                              5,740        5,506        5,230
  Investments                                         1,456        1,596        1,393
  Non-current assets                                  2,797        5,288        4,544
                                                 ----------   ----------   ----------
  Total Assets                                   $   13,028   $   14,587   $   13,915
                                                 ==========   ==========   ==========

STOCKHOLDERS' INVESTMENT
  AND LIABILITIES
Capitalization
       Debt
          Long-term debt (excluding
            Securitization)                      $    5,643   $    4,924   $    4,930
          Capital leases                                120           97          116
          Short-term                                      1          269          458
          Current portion of long-term
            debt and capital leases                     514          613          613
                                                 ----------   ----------   ----------
          Total debt                             $    6,278   $    5,903   $    6,117
       Preferred stock and securities                   927        1,228          927
       Minority interest                                 23           13           21
       Common stockholders' equity                    1,199        1,552        1,133
                                                 ----------   ----------   ----------
       Total capitalization                      $    8,427   $    8,696   $    8,198
Securitization debt                                     439          469          453
Current liabilities                                   1,171        1,974        1,800
Non-current liabilities                               2,991        3,448        3,464
                                                 ----------   ----------   ----------
Total Stockholders' Investment and Liabilities   $   13,028   $   14,587   $   13,915
                                                 ==========   ==========   ==========
</TABLE>


<PAGE>

                             CMS Energy Corporation
                        SUMMARY OF CONSOLIDATED EARNINGS
 Reconciliations of GAAP Net Income (Loss) to Non-GAAP Ongoing Net Income (Loss)
                      (Millions, Except Per Share Amounts)


<TABLE>
<CAPTION>
                                                          Second Quarter                First Half
                                                           (Unaudited)                 (Unaudited)
                                                     ------------------------    -----------------------
                                                        2003          2002          2003         2002
                                                     ----------    ----------    ----------   ----------
<S>                                                  <C>           <C>           <C>          <C>
NET INCOME (LOSS)                                    $      (45)   $      (74)   $       34   $      (32)
Reconciling Items:
      Discontinued Operations (Income) Loss                  40           127            13          178
      Cumulative Effect of Accounting Changes:
         EITF #02-03 MTM Accounting                           -             -            23            -
         SFAS No. 143 Asset Retirement Obligation             -             -             1            -
         SFAS No. 133 Derivative Accounting                   -           (17)            -          (17)
      Net Asset (Gain)/Loss and Other                         6           (19)            8          (33)
                                                     ----------    ----------    ----------   ----------
Ongoing Net Income (Loss) - Non-GAAP Basis           $        1    $       17    $       79   $       96
                                                     ==========    ==========    ==========   ==========

Average Number of Common Shares Outstanding
     Basic                                                  144           135           144          134
     Diluted                                                165           139           165          138

BASIC EARNINGS (LOSS) PER AVERAGE COMMON SHARE

Earnings (Loss) Per Share As Reported                $    (0.31)        (0.55)   $     0.24   $    (0.24)

Reconciling Items:
      Discontinued Operations (Income) Loss                0.28          0.94          0.09         1.32
      Cumulative Effect of Accounting Changes:
         EITF #02-03 MTM Accounting                           -             -          0.15            -
         SFAS No. 143 Asset Retirement Obligations            -             -          0.01            -
         SFAS No. 133 Derivative Accounting                   -         (0.12)            -        (0.12)
      Net Asset (Gain)/Loss and Other                      0.04         (0.14)         0.06        (0.24)
                                                     ----------    ----------    ----------   ----------
Ongoing Net Income (Loss) - Non-GAAP Basis           $     0.01    $     0.13    $     0.55   $     0.72
                                                     ==========    ==========    ==========   ==========

DILUTED EARNINGS (LOSS) PER AVERAGE COMMON SHARE

Earnings (Loss) Per Share As Reported                     (0.31)        (0.55)   $     0.24   $    (0.24)
Reconciling Items:
      Discontinued Operations (Income) Loss                0.28          0.94          0.09         1.32
      Cumulative Effect of Accounting Changes:
         EITF #02-03 MTM Accounting                           -             -          0.15            -
         SFAS No. 143 Asset Retirement Obligations            -             -          0.01            -
         SFAS No. 133 Derivative Accounting                   -         (0.12)            -        (0.12)
      Net Asset (Gain)/Loss and Other                      0.04         (0.14)         0.06        (0.24)
                                                     ----------    ----------    ----------   ----------
Ongoing Net Income (Loss)  - Non-GAAP Basis          $     0.01    $     0.13    $     0.55   $     0.72
                                                     ==========    ==========    ==========   ==========
</TABLE>



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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