EX-99.1 2 k49350exv99w1.htm EX-99.1
Exhibit 99.1

Regulatory Timeline Second year under new, comprehensive Michigan energy law. 2009 2010 2010 2010 2010 2010 2010 2010 2010 2011 Fourth Quarter Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter Fourth Quarter First Quarter Gas Rate Case U-15986 Self-implemented $89 M Self-implemented $89 M Final Order May $66 M Electric General Rate Case U-16191 Filed $178 M Filed $178 M MPSC Staff $90M Self-implement July Final Order January Big Rock Point U-15611 $85 M refund $85 M refund $85 M refund $85 M refund "Show Cause" U-16113 (forestry and O&M in 2007) MPSC Staff $27 M refund ALJ PFD "no refund" MPSC Staff $27 M refund ALJ PFD "no refund" Electric Decoupling Reconciliation U-15645 File "Cushion"

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This presentation contains "forward-looking statements" as defined in Rule 3b-6 of the Securities Exchange Act of 1934, as amended, Rule 175 of the Securities Act of 1933, as amended, and relevant legal decisions. The forward-looking statements are subject to risks and uncertainties. They should be read in conjunction with "FORWARD-LOOKING STATEMENTS AND INFORMATION" and "RISK FACTORS" sections of CMS Energy's and Consumers Energy's Form 10-K for the year ended December 31 and as updated in subsequent 10-Qs. CMS Energy's and Consumers Energy's "FORWARD-LOOKING STATEMENTS AND INFORMATION" and "RISK FACTORS" sections are incorporated herein by reference and discuss important factors that could cause CMS Energy's and Consumers Energy's results to differ materially from those anticipated in such statements. The presentation also includes non-GAAP measures when describing CMS Energy's results of operations and financial performance. A reconciliation of each of these measures to the most directly comparable GAAP measure is included in the appendix and posted on our website at www.cmsenergy.com. CMS Energy expects 2010 reported earnings to be about the same as adjusted earnings. Reported earnings could vary because of several factors. CMS Energy is not providing reported earnings guidance reconciliation because of the uncertainties associated with those factors.

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Visible Utility investment EPS growth of 6%-8% annually Operating cash flow growth of ^$100 million annually Dividend growing NOLs avoid new equity near term Constructive regulatory framework Risks mitigated

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Long-term Strategy Consistent financial performance Fair and timely regulation Utility investment Customer value Safe, excellent operations Consistent financial performance

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Consumers Energy Fourth largest combination utility in the U.S. 1.8 million electric and 1.7 million gas customers 9,500 MW of owned and purchased generation capacity (summer) 935 MW Zeeland acquisition 307 Bcf of gas storage capacity including 142 Bcf of working storage Ludington Pumped Storage B C Cobb J H Campbell D E Karn J C Weadock J R Whiting Mio Alcona Cooke Foote Loud 5 Channels Hodenpyl Tippy Rogers Hardy Croton Webber Allegan Electric Gas Combination Zeeland Overview Territory Investment growth balances responsible rate increases and healthy capital structure with attractive earnings growth.

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Electric Sales Trends (weather adjusted) . . . . 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 August Plan 22145 23722 24572 25237 25707 24533 24875 23916 24893 26051 26305 26977 27928 29143 29623 29894 30325 30877 31868 33177 34465 34622 35462 36355 37234 37463 37301 37792 37746 38017 37586 38372 38098 37339 36123 36958 Revised Potential 37339 36000 Electric Sales Year-to-Year Comparison 0 (7)% Decline over three years ('79 -'82 recession) 2008 2009 -2% -3% . . . . industrial sales showing signs of turnaround. 2010 +2% 2009 2010 2008 2009 2010 Industrial Sales -0.11 0.12 -0.04 -0.06 0.08 Total Sales -0.04 0.02 -0.02 -0.03 0.02 First Quarter Full Year

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Economic Indicators -- Autos U.S. auto production up 62% through May 1.

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Performance 2006 Baseline 2007 2008 2009 safety incidents 6.1 7 4.5 3.2 47% improvement from 2006. Employee Safety Moved into 1st quartile from 2008. Cost Management - 2009 Recordable Incident Rate FPL Nicor Xcel E.ON CMS Energy Puget Dominion WE Allegheny Alliant First Energy PG&E Ameren SCANA Berkshire Hathaway PPL NiSource PSE&G DTE National Grid Integrys Northeast Util 1.3 1.5 1.5 1.6 2 2.1 2.154 2.214 2.285 2.333 2.334 2.35 2.5 2.51 2.6 2.7 2.833 2.833 3.071 3.345 3.416 3.475 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile Source: Oliver Wyman Benchmarking Study (July 2009) Consumers Energy Movement from 2008 Study

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New Investment Plan Utility Investment Drives . . . . . . . . EPS growth at responsible rates. Investment 2010-14 (mils) Base capital $ 4,390 Choices in Plan Renewables $ 900 Smart Grid 650 Gas compression and pipelines 250 Electric generation 250 Electric reliability and other environmental 800 Total Choices in Plan $ 2,850 Total Capital 2010-14 $ 7,240 2008 2009 2010 2011 2012 2013 2014 Depreciation 7.851 8.729 9.2 8.814 8.482 7.999 7.577 7.077 Maintenance 0.583 1.162 1.753 2.342 2.951 Customer growth 0.055 0.112 0.171 0.234 0.301 Environmental 0.106 0.238 0.418 0.685 0.988 Electric generation 0 0 0.031 0.114 0.208 Gas compression and pipelines 0.076 0.155 0.217 0.252 0.275 Energy optimization 0 0.025 0.083 0.15 0.219 Electric reliability and other environmental 0.059 0.168 0.339 0.539 0.737 Smart Grid 0.056 0.144 0.232 0.385 0.578 Renewables 0.02 0.066 0.216 0.416 0.7 6%-8% Bils $ Present Rate Base 2009 2010 2011 2012 2013 2014 Average Rate Base (bils) $9.8 $10.5 $11.4 $12.5 $13.8 0 Rate Base

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Balanced Energy Plan Diverse and balanced plan 935 MW natural gas plant purchased in 2008 Energy efficiency reduction of 5.5% by 2015 Incentive achieved in 2009 - $6 million 10% Renewable portfolio standard by 2015 New clean coal plant (deferred)

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What's Changed? Peak Demand Long-Term Gas Prices EGAA Current Outlook 2009 9398 8384 2010 9513 8443 2011 9700 8577 2012 9783 8772 2013 9819 8924 2014 9889 9022 2015 10014 9161 2016 10076 9295 2017 10099 9378 2018 10123 9484 2019 10143 9571 2020 10160 9631 2021 10177 9667 2022 10192 9719 2023 10209 9808 2024 10229 9883 2025 10249 9937 2026 10272 9973 2027 10296 10026 2028 10320 10077 2029 10345 10125 2030 10376 10174 2031 10222 2032 10268 2033 10313 2034 10376 2035 10417 2036 10458 2037 10500 2038 10521 2039 10542 2040 10563 MW 0 Present Outlook Air Permit Peak demand down 700 MWs by 2017; "shale" gas lower price. 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 EGAA 9.03475 7.091 7.862 8.013 7.951 7.933 8.48 9.02 9.563 9.997 10.473 11.058 11.788 12.541 13.474 14.344 15.011 15.788 Current Outlook 9.03475 3.99 4.26 5.21 5.65 5.95 6.25 6.57 6.94 7.32 7.7 7.99 8.23 8.48 8.75 8.98 9.18 9.46 Henry Hub Actuals 1.532583333 1.797666667 2.143333333 1.900583333 1.635583333 2.590833333 2.58725 2.10825 2.267833333 3.885666667 4.272666667 3.221166667 5.387916667 6.137583333 8.615666667 7.226333333 6.86025 9.03475 3.99 MMBtu $ Present Outlook (down 33%) Air Permit Actual

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Capacity Fuel Mix (2018) With New Coal Plant New Plan With or without new coal plant projected fuel mix balanced.

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Renewables - Build Lake Winds Energy Park Cross Winds Energy Park Michigan energy law renewables requirements 10 percent energy, 500 MW of new capacity by 2015 Purchase 50 percent and build 50 percent MPSC approved Renewable Plan (May 2009) Annual surcharge in place (Sept 2009) Lake Winds Energy Park 2012 - 100 MW "build" Cross Winds Energy Park 500 MW potential First wind farm construction authorized; PPAs underway.

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Electricity Cost / Disposable Income Highest 25 States - 3.1% - 5.4% Source: Moody's Global Infrastructure - U.S. Regulated Electric Utilities - July 2009 Michigan among the lowest 10 states in terms of electricity cost. State % National Average CO 1.8 UT 2.1 MN 2.3 NM 2.3 WA 2.3 WY 2.4 NH 2.4 ID 2.4 MI 2.4 CA 2.6 IL 2.6 WI 2.6 KS 2.7 RI 2.7 NE 2.7 AK 2.7 OR 2.8 MT 2.8 ND 2.9 DC 2.9 NJ 2.9 IA 2.9 SD 3 MA 3 VT 3 VA 3.1 OH 3.1 WV 3.1 ME 3.1 IN 3.2 MS 3.2 MD 3.4 PA 3.4 NY 3.6 NV 3.7 OK 3.7 GA 3.8 KY 3.9 CT 3.9 DE 4 AZ 4 AR 4.1 HI 4.2 NC 4.2 SC 4.3 TN 4.4 FL 4.9 AL 4.9 LA 5 TX 5.2 MS 5.4 National Average 3.4% Lowest 25 States - 1.8% - 3.0% Lowest 10 States 1.8% - 2.6%

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Risk Mitigation through 2008 Energy Law Supply Renewable energy plan Energy optimization Certificate of Necessity process Retail open access cap Ratemaking File and implement ratemaking Forward test year Decoupling Uncollectibles tracker ? ? ? ? ? ? Law Implementation ? ? ? ? ? ? Law mitigated several key risks. Implementation underway. ? ? ? ?

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Utility Risk Mitigation . . . . Electric Gas Revenue 0.6 0.4 Sales $6.3 Billion $5.6 Billion Interest expense 5% Tree trimming and UAs "Tracked" . . . . enhanced with decoupling and new electric "UA" tracker. Decoupled Efficiency Economy Weather Cost Fuel 62% O&M & other 21% Investment 11% "Pass Thru" Decoupled Efficiency Economy

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Growing Forward EEI Annual IR and Finance Committee Meeting June 23, 2010

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Key Takeaways . . . . . . . . continued track record of strong results. Utility investment - visible: EPS growth of 6%-8% annually Operating cash flow growth of ^$100 million annually NOLs - avoid new equity near term Regulatory framework -- constructive Risks -- mitigated Dividend payout ratio -- growing

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Appendix

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ELECTRIC RATE CASE U-16191*
On January 22, 2010, Consumers Energy filed an application with the Michigan Public Service Commission seeking an increase of $178 million in its electric generation and distribution rates based on a test year of 12 months ending June 2011. On June 10, 2010, the MPSC staff filed a recommendation of $90 million based on a 10.35% ROE. The Staff suggested that its recommendation be adjusted upward by $25 million if the Company’s requested economic development sales tracker is not adopted by the Commission. The Staff also suggested that cap ex placed in service in 2011 be deferred for future recovery, rather than included in customer rates at this time. The Staff opposed the Company’s request for new Rate E-1, Pension and OPEB trackers and recommended that existing expense trackers be phased out due to the Company’s ability to frequently file and self-implement.

|  |  |  |  |  |  |  |  |  | MPSC |  |  |
|  |  |  |  |  | MPSC |  |  | Staff |  |  |
|  | Company |  |  | Staff |  |  | B/(W) |  |  |
Item |  | (Mils) |  |  | (Mils) |  |  | (Mils) |  |  | Remarks
1. O&M |  | $ | 49 |  |  | $ | 25 |  |  | $ | (24 | ) |  | Technology: ($8) Based on 2009 actual Benefits: ($8) Updated actuary analysis Corporate: ($6) NEIL insurance proceeds Other: ($2) DOE liability interest
2. Gross Margin |  |  | 5 |  |  |  | 4 |  |  |  | (1 | ) |  | Increased miscellaneous revenues
3. Investment |  |  | 106 |  |  |  | 80 |  |  |  | (26 | ) |  | Net plant: ($25) Post 2010 cap ex deferred Working capital: ($6) Depreciation expense: ($6) Reduced plant Taxes: $5 AFUDC: $6
4. Cost of Capital |  |  | 18 |  |  |  | (19 | ) |  |  | (37 | ) |  | Return on equity (10.35% vs 11%): ($30) Capital structure: ($9) Increased deferred taxes Debt costs: $2
Total |  | $ | 178 |  |  | $ | 90 |  |  | $ | (88 | ) |  |

Ratemaking |  | Existing |  | Consumers |  | MPSC
Capital Structure |  | (U-15645) |  | Filing |  | Staff Filing
Long Term Debt |  |  | 44.80 | % |  |  | 41.77 | % |  |  | 40.62 | %
Short Term Debt |  |  | 0.78 |  |  |  | 1.51 |  |  |  | 1.51 |
Preferred Stock |  |  | 0.48 |  |  |  | 0.44 |  |  |  | 0.44 |
Common Equity |  |  | 40.51 | (1) |  |  | 41.49 | (2) |  |  | 41.59 | (3)
Deferred FIT |  |  | 12.80 |  |  |  | 14.26 |  |  |  | 15.30 |
JDITC/Other |  |  | 0.63 |  |  |  | 0.53 |  |  |  | 0.54 |
|  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | %

(1) |  | Equivalent to 47.23% on a financial basis
(2) |  | Equivalent to 49.57% on a financial basis
(3) |  | Equivalent to 50.32% on a financial basis

|  | Existing |  | Consumers |  | MPSC
Rate Base and Return |  | (U-15645) |  | Filing |  | Staff Filing
Rate Base ($ billions) |  | $ | 6.16 |  |  | $ | 6.97 |  |  | $ | 6.69 |
Return on Rate Base |  |  | 6.98 | % |  |  | 7.16 | % |  |  | 6.83 | %
Return on Equity |  |  | 10.70 | % |  |  | 11.00 | % |  |  | 10.35 | %

ELECTRIC RATE CASE SCHEDULE

Self-implementation Filing (CE) |  | June 28, 2010
Rebuttal Testimony |  | July 1, 2010
Motions re Self-implementation |  | July 6, 2010
Motions to Strike Testimony |  | July 8, 2010
Response to Self-implementation Motions |  | July 12, 2010
Responses to Motions to Strike |  | July 13, 2010
Cross of all Witnesses |  | July 15 – 28, 2010
Self-implementation Under PA 286 |  | July 22, 2010
Initial Briefs |  | August 26, 2010
Reply Briefs |  | September 16, 2010
Proposal for Decision |  | November 1, 2010
Decision |  | By January 21, 2011

* |  | Electric Rate Case U-16191 can be accessed at the Michigan Public Service Commission’s website. http://efile.mpsc.cis.state.mi.us/efile/electric.html

Appendix 1

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|  | GAS RATE CASE U-15986*

On May 17, 2010, the Michigan Public Service Commission (MPSC) issued its final order in Consumers Energy’s Gas Rate Case U-15986, authorizing Consumers to increase its base gas rates by $66 million annually with an authorized ROE of 10.55%. The MPSC approved a sales decoupling mechanism, but did not approve trackers for uncollectibles expense or pension and OPEB expenses. On November 19, 2009, the Company self implemented an $89 million annual rate increase. As a result of the final order, the $23 million annual reduction will be refunded to customers later this year. Compared to rates that were implemented last November, the revenue decrease will reduce the residential class rates by 1.2%. A typical residential customer’s average monthly winter bill will be reduced by about $1 per month.

|  | Company |  |  | MPSC |  |  |  |  |  |
|  | Self |  |  | Final |  |  | B/W Than |  |  |
|  | Implement |  |  | Order |  |  | Self Implement |  |  |
Item |  | (mils) |  |  | (mils) |  |  | (mils) |  |  | Explanation of Variance
1. O&M |  | $ | 17 |  |  | $ | 13 |  |  | $ | (4 | ) |  | Uncollectible accounts expense: $(4)
|  |  |  |  |  |  |  |  |  |  |  |  |  | Standard retirement units: $7
|  |  |  |  |  |  |  |  |  |  |  |  |  | Corporate: $(3); outside services
|  |  |  |  |  |  |  |  |  |  |  |  |  | Manufactured gas plant (MGP) amortization: $(4)
|  |  |  |  |  |  |  |  |  |  |  |  |  | (shift from O&M to capital)
2. Sales |  |  | 41 |  |  |  | 28 |  |  |  | (13 | ) |  | Higher throughput: $(11); (283 Bcf vs. 272 Bcf)
|  |  |  |  |  |  |  |  |  |  |  |  |  | Miscellaneous revenues: $(2)
3. Investment |  |  | 23 |  |  |  | 27 |  |  |  | 4 |  |  | Net Plant: $(2); (reduced AMI investment)
|  |  |  |  |  |  |  |  |  |  |  |  |  | Depreciation expense and taxes: $2
|  |  |  |  |  |  |  |  |  |  |  |  |  | MGP amortization: $4
4. Cost of Capital |  |  | 8 |  |  |  | (2 | ) |  |  | (10 | ) |  | Lower return on equity: $(8); (10.55% vs. 11.00%)
|  |  |  |  |  |  |  |  |  |  |  |  |  | Lower debt costs: $(2)
Total |  | $ | 89 |  |  | $ | 66 |  |  | $ | (23 | ) |  |

Ratemaking |  | Existing |  |  | Company Self |  |  | MPSC |
Capital Structure |  | (U-15506) |  |  | Implement |  |  | Final Order |
Long Term Debt |  |  | 42.71 | % |  |  | 43.43 | % |  |  | 43.58 | %
Short Term Debt |  |  | 0.66 |  |  |  | 0.58 |  |  |  | 0.59 |
Preferred Stock |  |  | 0.49 |  |  |  | 0.46 |  |  |  | 0.46 |
Common Equity |  |  | 41.78 |  |  |  | 41.07 | (1) |  |  | 40.78 | (2)
Deferred Taxes |  |  | 12.94 |  |  |  | 13.17 |  |  |  | 13.30 |
JDITC/Other |  |  | 1.42 |  |  |  | 1.29 |  |  |  | 1.29 |
|  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | %

Rate Base and Return |  | Existing |  |  | Company |  |  | MPSC |
Percentage |  | (U-15506) |  |  | Self Implement |  |  | Final Order |
Rate Base ($ billions) |  | $ | 2.52 |  |  | $ | 2.76 |  |  | $ | 2.74 |
Return on Rate Base |  |  | 7.03 | % |  |  | 7.28 | % |  |  | 7.02 | %
Return on Equity |  |  | 10.55 | % |  |  | 11.00 | % |  |  | 10.55 | %

(1) |  | Equivalent to 48.34% on a financial basis.
(2) |  | Equivalent to 48.07% on a financial basis.
* |  | Gas Rate Case U-15986 can be accessed at the Michigan Public Service Commission’s website.

http://efile.mpsc.cis.state.mi.us/efile/gas.html
Appendix 2

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Federal Tax Benefits Appendix 3 Year-End Actual Estimate 2009 2010 2011 2012 (bils) (bils) (bils) (bils) Gross NOL carry forwards $ 1.3 $ .7 $ .2 $ 0 Net NOL cash benefit at 35% $ .5 $ .2 $ .1 0 Credit carry forwards .3 .3 .3 .2 Remaining cash benefit $ .8 $ .5 $ .4 $.2

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Sales Decoupling (Residential) First Quarter Approved Rate Case Actual Decoupling Surcharge Average monthly sales per customer (kWh) 745 - 723 = (22) Number of customers (mils) 1.6 x 1.6 Average margin per kWh 6¢ x 6¢ Number of months x 3 Surcharge (mils) = $6 First Quarter electric sales lower than rate case levels - resulting in a surcharge. Appendix 4

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Sales and Decoupling ? Appendix 5

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Retail Open Access Retail Open Access Higher ROA load reduced EPS by about 5¢ in the First Quarter of 2010. First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter 4 5.2 6.1 8.4 10 10 10 10 10 10 % of Total 2010 2009 10% First Quarter Second Quarter Third Quarter Fourth Quarter First Quarter 3185 3160 3204 2865 2607 "Bundled" Customer Demand a MW 2010 2009 (5)¢ Cap _ _ _ _ _ a Industrial and commercial 4% Appendix 6

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MATURITY SCHEDULE OF CMS AND CECO LONG-TERM DEBT & PREFERRED SECURITIES
AS OF 05/31/2010
Reflects 5/15/10 maturity of $250MM FMBs (CECo)

|  |  |  | Maturity |  | Amount |  |
F/V |  | S/U |  | or Call Date |  | (000’s) |  | DEBT/ CO
SHORT-TERM DEBT: |  |  |  |  |  |
F |  | S |  | 06/15/10 |  | $ | 30,000 |  |  | 3.375% Fixed PCRBs (CECo)
F |  | S |  | 06/15/10 |  |  | 27,900 |  |  | 4.25% PCRBs (CECo)
F |  | U |  | 08/01/10 |  |  | 67,291 |  |  | 7.75% Sr Unsec Notes (CMS)
F |  | U |  | 04/15/11 |  |  | 213,653 |  |  | 8.5% Sr Notes (CMS)
F |  | U |  | SHORT-TERM |  |  | 139,730 |  |  | *3.375% Convertible Sr Notes Put Date (CMS)
|  |  |  |  |  | $ | 478,574 |  |  |
LONG-TERM DEBT: |  |  |  |  |  |
F |  | U |  | 12/01/11 |  | $ | 287,500 |  |  | *2.875% Convertible Sr Unsec Notes Put Date (CMS)
|  |  |  |  |  |  | 287,500 |  |  |
F |  | U |  | 02/01/12 |  | $ | 150,000 |  |  | 6.3% Senior Notes (CMS)
F |  | S |  | 02/15/12 |  |  | 300,000 |  |  | 5% Series L FMBs (CECo)
|  |  |  |  |  | $ | 450,000 |  |  |
V |  | U |  | 01/15/13 |  | $ | 150,000 |  |  | Floating Rate Sr Notes (CMS)
F |  | S |  | 04/15/13 |  |  | 375,000 |  |  | 5.375% Series B FMBs (CECo)
|  |  |  |  |  | $ | 525,000 |  |  |
F |  | S |  | 02/15/14 |  | $ | 200,000 |  |  | 6% FMBs (CECo)
F |  | U |  | 06/15/14 |  |  | 172,500 |  |  | 5.5% Convertible Sr Notes Put Date (CMS)
F |  | S |  | 03/15/15 |  |  | 225,000 |  |  | 5% FMBs Series N (CECo)
F |  | U |  | 12/15/15 |  |  | 125,000 |  |  | 6.875% Sr Notes (CMS)
F |  | S |  | 08/15/16 |  |  | 350,000 |  |  | 5.5% Series M FMBs (CECo)
F |  | S |  | 02/15/17 |  |  | 250,000 |  |  | 5.15% FMBs (CECo)
F |  | U |  | 07/17/17 |  |  | 250,000 |  |  | 6.55% Sr Notes (CMS)
F |  | S |  | 03/01/18 |  |  | 180,000 |  |  | 6.875% Sr Notes (CECo)
V |  | S |  | 04/15/18 |  |  | 67,700 |  |  | VRDBs to replace PCRBs (CECo)
F |  | S |  | 09/15/18 |  |  | 250,000 |  |  | 5.65% FMBs (CECo)
F |  | S |  | 03/15/19 |  |  | 350,000 |  |  | 6.125% FMBs (CECo)
F |  | U |  | 06/15/19 |  |  | 300,000 |  |  | 8.75% Sr Notes (CMS)
F |  | S |  | 09/15/19 |  |  | 500,000 |  |  | 6.70% FMBs (CECo)
F |  | U |  | 2/1/2020 |  |  | 300,000 |  |  | 6.25% Sr Notes (CMS)
F |  | S |  | 04/15/20 |  |  | 300,000 |  |  | 5.65% FMBs (CECo)
F |  | U |  | 07/15/27 |  |  | 28,667 |  |  | QUIPS 7.75%(CMS) Pref Sec
V |  | S |  | 04/01/35 |  |  | 35,000 |  |  | PCRBs (CECo)
F |  | S |  | 04/15/35 |  |  | 137,239 |  |  | 5.65% FMBs IQ Notes (CECo)
F |  | S |  | 09/15/35 |  |  | 175,000 |  |  | 5.80% FMBs (CECo)
|  |  |  |  |  | $ | 4,196,106 |  |  |
|  |  |  |  |  | $ | 5,937,180 |  |  | SUBTOTAL
|  |  |  |  |  | $ | 5,908,513 |  |  | SUBTOTAL EXCLUDING PREFERRED SECURITIES
|  |  |  | Various Maturity Dates/No Maturity Date Available:
|  |  |  |  |  | $ | 226,176 |  |  | CECo Securitization Bonds (Long-Term & Short-Term) after 04/20/10 payment
|  |  |  |  |  |  | 227,118 |  |  | CECo Capital lease rental commitments (Long-Term & Short-Term) as of 03/31/10
|  |  |  |  |  |  | 162,880 |  |  | CECo DOE Liability as of 05/31/10
|  |  |  |  |  |  | 239,698 |  |  | EnerBank (Long-Term & Short-Term) Discount Brokered CDs as of 03/31/10 (CMS)
|  |  |  |  |  |  | (36,048 | ) |  | CMS Net unamortized discount as of 03/31/10
|  |  |  |  |  |  | (4,727 | ) |  | CECo Net unamortized discount as of 03/31/10
|  |  |  |  |  | $ | 6,752,276 |  |  | GRAND TOTAL INCLUDING CMS ENERGY, CONSUMERS & OTHER CMS
|  |  |  |  |  |  |  |  |  | ENTERPRISES SUBSIDIARIES, INCLUDING PREFERRED SECURITIES

* |  | — Date that issue can be put to the Company is used instead of maturity date

Status Codes: F-Fixed rate; V-Variable rate; S-Secured; U-Unsecured
Appendix 7

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Fact Sheets

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|  | Consumers Electric Utility Financial & Operating Statistics

Years Ended December 31 |  | 2009 |  |  | 2008 |  |  | 2007 |  |  | 2006 |  |  | 2005 |
ELECTRIC REVENUE AND POWER COSTS (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 1,387 |  |  | $ | 1,414 |  |  | $ | 1,326 |  |  | $ | 1,279 |  |  | $ | 1,069 |
Commercial |  |  | 1,099 |  |  |  | 1,129 |  |  |  | 1,111 |  |  |  | 1,062 |  |  |  | 878 |
Industrial |  |  | 677 |  |  |  | 810 |  |  |  | 775 |  |  |  | 764 |  |  |  | 553 |
Other |  |  | 36 |  |  |  | 32 |  |  |  | 30 |  |  |  | 29 |  |  |  | 26 |
Total revenue from customers |  | $ | 3,199 |  |  | $ | 3,385 |  |  | $ | 3,242 |  |  | $ | 3,134 |  |  | $ | 2,526 |
Wholesale |  |  | 19 |  |  |  | 22 |  |  |  | 23 |  |  |  | 22 |  |  |  | 18 |
Intersystem |  |  | 94 |  |  |  | 113 |  |  |  | 92 |  |  |  | 45 |  |  |  | 46 |
Retail open access/direct access |  |  | 31 |  |  |  | 15 |  |  |  | 15 |  |  |  | 17 |  |  |  | 28 |
Miscellaneous |  |  | 64 |  |  |  | 59 |  |  |  | 71 |  |  |  | 84 |  |  |  | 83 |
Total electric utility revenue |  | $ | 3,407 |  |  | $ | 3,594 |  |  | $ | 3,443 |  |  | $ | 3,302 |  |  | $ | 2,701 |
Fuel for electric generation |  | $ | 460 |  |  | $ | 483 |  |  | $ | 385 |  |  | $ | 436 |  |  | $ | 464 |
Purchased and interchange power |  |  | 1,232 |  |  |  | 1,388 |  |  |  | 1,449 |  |  |  | 1,135 |  |  |  | 818 |
DEPRECIATION AND AMORTIZATION |  | $ | 441 |  |  | $ | 438 |  |  | $ | 397 |  |  | $ | 380 |  |  | $ | 292 |
OPERATING INCOME (Millions) |  | $ | 488 |  |  | $ | 576 |  |  | $ | 413 |  |  | $ | 411 |  |  | $ | 342 |
NET INCOME (Millions) |  | $ | 194 |  |  | $ | 271 |  |  | $ | 196 |  |  | $ | 199 |  |  | $ | 153 |
DELIVERIES (Million kWhs) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
System sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 12,386 |  |  |  | 12,854 |  |  |  | 13,206 |  |  |  | 12,975 |  |  |  | 13,286 |
Commercial |  |  | 11,211 |  |  |  | 11,969 |  |  |  | 12,384 |  |  |  | 12,199 |  |  |  | 11,221 |
Industrial |  |  | 9,290 |  |  |  | 10,563 |  |  |  | 11,153 |  |  |  | 11,143 |  |  |  | 9,685 |
Other |  |  | 230 |  |  |  | 225 |  |  |  | 231 |  |  |  | 227 |  |  |  | 229 |
Total sales to ultimate customers |  |  | 33,117 |  |  |  | 35,611 |  |  |  | 36,974 |  |  |  | 36,544 |  |  |  | 34,421 |
Wholesale |  |  | 328 |  |  |  | 333 |  |  |  | 496 |  |  |  | 498 |  |  |  | 468 |
Retail open access/direct access |  |  | 2,326 |  |  |  | 1,541 |  |  |  | 1,364 |  |  |  | 1,455 |  |  |  | 4,056 |
Intersystem |  |  | 1,277 |  |  |  | 1,176 |  |  |  | 1,329 |  |  |  | 814 |  |  |  | 3,624 |
Total electric system deliveries |  |  | 37,048 |  |  |  | 38,661 |  |  |  | 40,163 |  |  |  | 39,311 |  |  |  | 42,569 |
AVERAGE ELECTRIC REVENUE (¢/kWh) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 11.20 |  |  |  | 11.00 |  |  |  | 10.04 |  |  |  | 9.86 |  |  |  | 8.05 |
Commerical |  |  | 9.80 |  |  |  | 9.43 |  |  |  | 8.98 |  |  |  | 8.71 |  |  |  | 7.82 |
Industrial |  |  | 7.29 |  |  |  | 7.67 |  |  |  | 6.95 |  |  |  | 6.86 |  |  |  | 5.70 |
Other |  |  | 15.65 |  |  |  | 14.22 |  |  |  | 12.99 |  |  |  | 12.78 |  |  |  | 11.45 |
Total |  |  | 9.66 |  |  |  | 9.51 |  |  |  | 8.77 |  |  |  | 8.58 |  |  |  | 7.34 |
ELECTRIC CUSTOMERS BILLED (At December 31) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 1,566,980 |  |  |  | 1,584,752 |  |  |  | 1,575,386 |  |  |  | 1,570,113 |  |  |  | 1,565,601 |
Commercial |  |  | 210,223 |  |  |  | 208,931 |  |  |  | 211,365 |  |  |  | 211,718 |  |  |  | 211,273 |
Industrial |  |  | 8,770 |  |  |  | 8,505 |  |  |  | 8,619 |  |  |  | 8,638 |  |  |  | 8,595 |
Retail Open Access/Direct Access |  |  | 861 |  |  |  | 642 |  |  |  | 642 |  |  |  | 839 |  |  |  | 1,307 |
Other |  |  | 1,282 |  |  |  | 2,045 |  |  |  | 2,025 |  |  |  | 2,009 |  |  |  | 1,972 |
Total |  |  | 1,788,116 |  |  |  | 1,804,875 |  |  |  | 1,798,037 |  |  |  | 1,793,317 |  |  |  | 1,788,748 |
AUTHORIZED RETURN ON EQUITY |  |  | 10.70 | % |  |  | 10.70 | % |  |  | 11.15 | % |  |  | 11.15 | % |  |  | 11.15 | %
EARNED RETURN ON EQUITY-FINANCIAL |  |  | 6.4% | 1 |  |  | 9.4 | % |  |  | 7.5 | % |  |  | 8.9 | % |  |  | 8.0 | %
RATE BASE (At December 31) ($ Millions) |  | $ | 6,549 |  |  | $ | 6,175 |  |  | $ | 5,407 |  |  | $ | 5,088 |  |  | $ | 4,839 |
COOLING DEGREE DAYS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Normal degree days in calendar year |  |  | 558 |  |  |  | 558 |  |  |  | 558 |  |  |  | 558 |  |  |  | 558 |
Actual degree days |  |  | 379 |  |  |  | 542 |  |  |  | 773 |  |  |  | 613 |  |  |  | 916 |
Percent warmer (colder) than normal |  |  | (32.1 | ) |  |  | (2.9 | ) |  |  | 38.5 |  |  |  | 9.9 |  |  |  | 64.2 |
Increase (decrease) from normal in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electric deliveries (millions of kWh) |  |  | (461 | ) |  |  | 146 |  |  |  | 736 |  |  |  | 118 |  |  |  | 1,359 |
EPS |  | $ | (0.09 | ) |  | $ | 0.02 |  |  | $ | 0.09 |  |  | $ | 0.01 |  |  | $ | 0.14 |

1 |  | 9.1% excluding Big Rock Decommissioning refund

CMS Energy Investor Relations |  | One Energy Plaza, Jackson, MI 49201 Tel. 517-788-2590 |  | http://www.cmsenergy.com

#####

|  | Consumers Electric Utility Supplemental Operating Statistics

Years Ended December 31 |  | 2009 |  |  |  |  |  | 2008 |  |  |  |  |  | 2007 |  |  |  |  |  | 2006 |  |  |  |  |  | 2005 |  |  |  |
FUEL COST ($/MMBtu) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Coal |  |  | 2.37 |  |  |  |  |  |  |  | 2.01 |  |  |  |  |  |  |  | 2.04 |  |  |  |  |  |  |  | 2.09 |  |  |  |  |  |  |  | 1.78 |  |  |  |  |
Oil |  |  | 9.59 |  |  |  |  |  |  |  | 11.54 |  |  |  |  |  |  |  | 8.21 |  |  |  |  |  |  |  | 8.68 |  |  |  |  |  |  |  | 5.98 |  |  |  |  |
Gas |  |  | 6.57 |  |  |  |  |  |  |  | 10.94 |  |  |  |  |  |  |  | 10.29 |  |  |  |  |  |  |  | 8.92 |  |  |  |  |  |  |  | 9.76 |  |  |  |  |
Nuclear |  |  | 0.00 |  |  |  |  |  |  |  | 0.00 |  |  |  |  |  |  |  | 0.42 |  |  |  |  |  |  |  | 0.24 |  |  |  |  |  |  |  | 0.34 |  |  |  |  |
Weighted average for all fuels |  |  | 2.56 |  |  |  |  |  |  |  | 2.47 |  |  |  |  |  |  |  | 2.07 |  |  |  |  |  |  |  | 1.72 |  |  |  |  |  |  |  | 1.64 |  |  |  |  |
FUEL COST FOR GENERATION (%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Coal |  |  | 90.6 |  |  |  |  |  |  |  | 81.0 |  |  |  |  |  |  |  | 97.9 |  |  |  |  |  |  |  | 88.2 |  |  |  |  |  |  |  | 76.6 |  |  |  |  |
Oil and gas |  |  | 2.5 |  |  |  |  |  |  |  | 4.1 |  |  |  |  |  |  |  | 9.1 |  |  |  |  |  |  |  | 6.7 |  |  |  |  |  |  |  | 14.4 |  |  |  |  |
Nuclear |  |  | 0.0 |  |  |  |  |  |  |  | 0.0 |  |  |  |  |  |  |  | 2.2 |  |  |  |  |  |  |  | 3.7 |  |  |  |  |  |  |  | 5.4 |  |  |  |  |
Combustion turbine |  |  | 6.8 |  |  |  |  |  |  |  | 14.6 |  |  |  |  |  |  |  | 0.9 |  |  |  |  |  |  |  | 0.8 |  |  |  |  |  |  |  | 1.8 |  |  |  |  |
Nox allowances |  |  | 0.1 |  |  |  |  |  |  |  | 0.3 |  |  |  |  |  |  |  | (10.2 | ) |  |  |  |  |  |  | 0.6 |  |  |  |  |  |  |  | 1.8 |  |  |  |  |
POWER GENERATED (Millions of kWhs) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Coal |  |  | 17,255 |  |  |  | 47.3 | % |  |  | 17,701 |  |  |  | 45.5 | % |  |  | 17,903 |  |  |  | 44.3 | % |  |  | 17,744 |  |  |  | 44.6 | % |  |  | 19,711 |  |  |  | 65.8 | %
Nuclear |  |  | 0 |  |  |  | 0.0 | % |  |  | 0 |  |  |  | 0.0 | % |  |  | 1,781 |  |  |  | 4.4 | % |  |  | 5,904 |  |  |  | 14.9 | % |  |  | 6,636 |  |  |  | 18.7 | %
Oil |  |  | 14 |  |  |  | 0.0 | % |  |  | 41 |  |  |  | 0.1 | % |  |  | 112 |  |  |  | 0.3 | % |  |  | 48 |  |  |  | 0.1 | % |  |  | 225 |  |  |  | 0.7 | %
Gas |  |  | 565 |  |  |  | 1.5 | % |  |  | 804 |  |  |  | 2.1 | % |  |  | 129 |  |  |  | 0.3 | % |  |  | 161 |  |  |  | 0.4 | % |  |  | 356 |  |  |  | 0.1 | %
Hydro |  |  | 466 |  |  |  | 1.3 | % |  |  | 454 |  |  |  | 1.2 | % |  |  | 416 |  |  |  | 1.0 | % |  |  | 485 |  |  |  | 1.2 | % |  |  | 387 |  |  |  | 1.6 | %
Net pumped storage (a) |  |  | (303 | ) |  |  | -0.8 | % |  |  | (382 | ) |  |  | -1.0 | % |  |  | (478 | ) |  |  | -1.2 | % |  |  | (426 | ) |  |  | -1.1 | % |  |  | (516 | ) |  |  | -1.9 | %
Total net generation |  |  | 17,997 |  |  |  | 49.4 | % |  |  | 18,618 |  |  |  | 47.8 | % |  |  | 19,863 |  |  |  | 49.2 | % |  |  | 23,916 |  |  |  | 60.2 | % |  |  | 26,799 |  |  |  | 84.9 | %
Purchased and interchange: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-utility generation |  |  | 11,538 |  |  |  | 31.6 | % |  |  | 13,643 |  |  |  | 35.1 | % |  |  | 12,502 |  |  |  | 31.0 | % |  |  | 8,594 |  |  |  | 21.6 | % |  |  | 8,999 |  |  |  | 3.6 | %
Net interchange power |  |  | 6,925 |  |  |  | 19.0 | % |  |  | 6,653 |  |  |  | 17.1 | % |  |  | 8,009 |  |  |  | 19.8 | % |  |  | 7,244 |  |  |  | 18.2 | % |  |  | 1,772 |  |  |  | 11.5 | %
Total net purchased and interchange power |  |  | 18,463 |  |  |  | 50.6 | % |  |  | 20,296 |  |  |  | 52.2 | % |  |  | 20,511 |  |  |  | 50.8 | % |  |  | 15,838 |  |  |  | 39.8 | % |  |  | 10,771 |  |  |  | 15.1 | %
Total net power supply |  |  | 36,460 |  |  |  | 100.0 | % |  |  | 38,914 |  |  |  | 100.0 | % |  |  | 40,374 |  |  |  | 100.0 | % |  |  | 39,754 |  |  |  | 100.0 | % |  |  | 37,570 |  |  |  | 100.0 | %
NET DEMONSTRATED CAPABILITY (MW) AT PEAK / POWER SOURCE (%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Coal |  |  | 2,850 |  |  |  | 31.8 | % |  |  | 2,850 |  |  |  | 29.7 | % |  |  | 2,841 |  |  |  | 30.5 | % |  |  | 2,841 |  |  |  | 30.9 | % |  |  | 2,837 |  |  |  | 31.8 | %
Oil and gas |  |  | 1,814 |  |  |  | 20.3 | % |  |  | 1,997 |  |  |  | 29.7 | % |  |  | 1,459 |  |  |  | 15.7 | % |  |  | 1,459 |  |  |  | 15.8 | % |  |  | 1,459 |  |  |  | 16.4 | %
Nuclear |  |  | 0 |  |  |  | 0.0 | % |  |  | 0 |  |  |  | 0.0 | % |  |  | 0 |  |  |  | 0.0 | % |  |  | 778 |  |  |  | 0.0 | % |  |  | 778 |  |  |  | 0.0 | %
Combustion turbine |  |  | 661 |  |  |  | 7.4 | % |  |  | 661 |  |  |  | 6.9 | % |  |  | 345 |  |  |  | 3.7 | % |  |  | 345 |  |  |  | 3.7 | % |  |  | 332 |  |  |  | 3.9 | %
Hydro |  |  | 74 |  |  |  | 0.8 | % |  |  | 73 |  |  |  | 0.8 | % |  |  | 73 |  |  |  | 0.8 | % |  |  | 74 |  |  |  | 0.8 | % |  |  | 74 |  |  |  | 0.8 | %
Pumped storage |  |  | 955 |  |  |  | 10.7 | % |  |  | 955 |  |  |  | 10.0 | % |  |  | 955 |  |  |  | 10.3 | % |  |  | 955 |  |  |  | 10.4 | % |  |  | 955 |  |  |  | 10.7 | %
Total owned generation |  |  | 6,354 |  |  |  | 71.0 | % |  |  | 6,536 |  |  |  | 68.2 | % |  |  | 5,673 |  |  |  | 61.0 | % |  |  | 6,452 |  |  |  | 70.1 | % |  |  | 6,435 |  |  |  | 72.2 | %
Plus P&I power capability |  |  | 2,600 |  |  |  | 29.0 | % |  |  | 3,050 |  |  |  | 31.8 | % |  |  | 3,627 |  |  |  | 39.0 | % |  |  | 2,756 |  |  |  | 29.9 | % |  |  | 2,516 |  |  |  | 27.8 | %
Total owned and P&I |  |  | 8,954 |  |  |  | 100.0 | % |  |  | 9,586 |  |  |  | 100.0 | % |  |  | 9,300 |  |  |  | 100.0 | % |  |  | 9,208 |  |  |  | 100.0 | % |  |  | 8,951 |  |  |  | 100.0 | %
Peak load (MW) (b) |  |  | 7,421 |  |  |  |  |  |  |  | 7,488 |  |  |  |  |  |  |  | 8,183 |  |  |  |  |  |  |  | 8,657 |  |  |  |  |  |  |  | 7,845 |  |  |  |  |
Reserve capacity (%) |  |  | 17.0 |  |  |  |  |  |  |  | 22.0 |  |  |  |  |  |  |  | 12.0 |  |  |  |  |  |  |  | 6.0 |  |  |  |  |  |  |  | 12.4 |  |  |  |  |
Nameplate generating capacity (MW) at peak |  |  | 6,784 |  |  |  |  |  |  |  | 6,784 |  |  |  |  |  |  |  | 6,784 |  |  |  |  |  |  |  | 6,784 |  |  |  |  |  |  |  | 6,784 |  |  |  |  |
Load factor (b) |  |  | 55.9 |  |  |  |  |  |  |  | 59.2 |  |  |  |  |  |  |  | 56.3 |  |  |  |  |  |  |  | 52.4 |  |  |  |  |  |  |  | 54.7 |  |  |  |  |
Heat rate-average Btu of fuel per net kWh generated |  |  | 9,522 |  |  |  |  |  |  |  | 10,201 |  |  |  |  |  |  |  | 10,198 |  |  |  |  |  |  |  | 10,123 |  |  |  |  |  |  |  | 10,088 |  |  |  |  |

(a) |  | Consumers’ portion of the Ludington pumped storage facility.
(b) |  | Excluding Retail Open Access loads.

CMS Energy Investor Relations |  | One Energy Plaza, Jackson, MI 49201 Tel. 517-788-2590 |  | http://www.cmsenergy.com

#####

|  | Consumers Gas Utility Financial & Operating Statistics

|  | 2009 |  |  | 2008 |  |  | 2007 |  |  | 2006 |  |  | 2005 |
GAS REVENUE AND COST OF GAS ($ Millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 1,808 |  |  | $ | 1,971 |  |  | $ | 1,823 |  |  | $ | 1,646 |  |  | $ | 1,742 |
Commercial |  |  | 511 |  |  |  | 598 |  |  |  | 552 |  |  |  | 498 |  |  |  | 510 |
Industrial |  |  | 101 |  |  |  | 124 |  |  |  | 113 |  |  |  | 111 |  |  |  | 116 |
Other |  |  | 3 |  |  |  | 5 |  |  |  | 6 |  |  |  | 4 |  |  |  | 9 |
Total sales revenue |  | $ | 2,423 |  |  | $ | 2,698 |  |  | $ | 2,494 |  |  | $ | 2,259 |  |  | $ | 2,377 |
Transportation fees |  |  | 48 |  |  |  | 45 |  |  |  | 44 |  |  |  | 40 |  |  |  | 43 |
Miscellaneous |  |  | 85 |  |  |  | 84 |  |  |  | 83 |  |  |  | 75 |  |  |  | 63 |
Total gas utility revenue |  | $ | 2,556 |  |  | $ | 2,827 |  |  | $ | 2,621 |  |  | $ | 2,374 |  |  | $ | 2,483 |
Cost of gas sold |  |  | 1,778 |  |  |  | 2,079 |  |  |  | 1,918 |  |  |  | 1,770 |  |  |  | 1,844 |
Gas utility revenue net of cost of gas |  | $ | 778 |  |  | $ | 748 |  |  | $ | 703 |  |  | $ | 604 |  |  | $ | 639 |
DEPRECIATION, DEPLETION AND AMORTIZATION |  | $ | 118 |  |  | $ | 136 |  |  | $ | 127 |  |  | $ | 122 |  |  | $ | 117 |
OPERATING INCOME |  | $ | 201 |  |  | $ | 190 |  |  | $ | 170 |  |  | $ | 113 |  |  | $ | 151 |
NET INCOME |  | $ | 96 |  |  | $ | 89 |  |  | $ | 87 |  |  | $ | 37 |  |  | $ | 48 |
SALES AND DELIVERIES (Bcf) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 163 |  |  |  | 171 |  |  |  | 167 |  |  |  | 154 |  |  |  | 176 |
Commercial |  |  | 52 |  |  |  | 57 |  |  |  | 55 |  |  |  | 50 |  |  |  | 57 |
Industrial |  |  | 11 |  |  |  | 12 |  |  |  | 12 |  |  |  | 12 |  |  |  | 13 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |
Total gas sales (1) |  |  | 226 |  |  |  | 240 |  |  |  | 234 |  |  |  | 216 |  |  |  | 247 |
Gas transportation deliveries |  |  | 93 |  |  |  | 98 |  |  |  | 107 |  |  |  | 92 |  |  |  | 103 |
Total gas sales and transportation deliveries |  |  | 319 |  |  |  | 338 |  |  |  | 341 |  |  |  | 308 |  |  |  | 350 |
GAS CUSTOMERS BILLED (at December 31) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 1,574,246 |  |  |  | 1,577,863 |  |  |  | 1,580,586 |  |  |  | 1,584,666 |  |  |  | 1,577,358 |
Commercial |  |  | 118,199 |  |  |  | 118,870 |  |  |  | 119,703 |  |  |  | 119,936 |  |  |  | 121,314 |
Industrial |  |  | 7,073 |  |  |  | 6,961 |  |  |  | 7,014 |  |  |  | 6,982 |  |  |  | 7,081 |
Transportation |  |  | 2,725 |  |  |  | 2,507 |  |  |  | 2,495 |  |  |  | 2,483 |  |  |  | 2,567 |
Total customers |  |  | 1,702,243 |  |  |  | 1,706,201 |  |  |  | 1,709,798 |  |  |  | 1,714,067 |  |  |  | 1,708,320 |
AVERAGE GAS REVENUE ($ per Mcf) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 11.09 |  |  | $ | 11.53 |  |  | $ | 10.93 |  |  | $ | 10.70 |  |  | $ | 9.89 |
Commercial |  |  | 9.83 |  |  |  | 10.49 |  |  |  | 10.09 |  |  |  | 9.87 |  |  |  | 8.96 |
Industrial |  |  | 9.18 |  |  |  | 10.33 |  |  |  | 9.62 |  |  |  | 9.45 |  |  |  | 8.68 |
Transportation (2) |  |  | 0.82 |  |  |  | 0.70 |  |  |  | 0.68 |  |  |  | 0.61 |  |  |  | 0.61 |
GAS SUPPLY (MMcf) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gas Cost Recovery |  |  | 206,866 |  |  |  | 208,296 |  |  |  | 216,843 |  |  |  | 207,223 |  |  |  | 236,978 |
Gas Customer Choice |  |  | 31,498 |  |  |  | 24,177 |  |  |  | 19,520 |  |  |  | 15,915 |  |  |  | 13,989 |
Total |  |  | 238,364 |  |  |  | 232,473 |  |  |  | 236,363 |  |  |  | 223,138 |  |  |  | 250,967 |
AVERAGE COST OF GAS SOLD ($ per Mcf) (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gas Cost Recovery |  | $ | 7.66 |  |  | $ | 8.36 |  |  | $ | 7.91 |  |  | $ | 8.03 |  |  | $ | 7.47 |
Gas Customer Choice |  |  | 7.98 |  |  |  | 9.99 |  |  |  | 9.79 |  |  |  | 8.94 |  |  |  | 6.75 |
AUTHORIZED RETURN ON EQUITY |  |  | 10.6 | % |  |  | 10.55 | % |  |  | 10.75 | % |  |  | 11.0 | % |  |  | 11.4 | %
RATE BASE (at December 31) ($ Millions) |  | $ | 2,778 |  |  | $ | 2,638 |  |  | $ | 2,444 |  |  | $ | 2,446 |  |  | $ | 2,226 |
EARNED RETURN ON EQUITY-FINANCIAL |  |  | 9.9% | 4 |  |  | 9.2 | % |  |  | 9.2 | % |  |  | 4.4 | % |  |  | 7.0 | %
HEATING DEGREE DAYS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Normal degree days in calendar year |  |  | 7,098 |  |  |  | 7,098 |  |  |  | 7,098 |  |  |  | 7,098 |  |  |  | 7,098 |
Actual degree days |  |  | 6,815 |  |  |  | 6,917 |  |  |  | 6,561 |  |  |  | 6,119 |  |  |  | 6,557 |
Percent colder (warmer) than normal |  |  | (4.0 | ) |  |  | (2.6 | ) |  |  | (7.6 | ) |  |  | (13.8 | ) |  |  | (7.6 | )
Increase (decrease) from normal in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gas deliveries (Bcf) |  |  | (0.9 | ) |  |  | 4.1 |  |  |  | (6.3 | ) |  |  | (30.2 | ) |  |  | (7.4 | )
EPS |  | $ | (0.01 | ) |  | $ | 0.02 |  |  | $ | (0.03 | ) |  | $ | (0.12 | ) |  | $ | (0.03 | )

(1) |  | Includes Gas Customer Choice sales.
(2) |  | Average gas revenue for transportation excludes amounts related to MCV and off-system transportation.
(3) |  | Includes pipeline transportation charges.
(4) |  | Rate is reflective of exceptionally warm weather

CMS Energy Investor Relations |  | One Energy Plaza, Jackson, MI 49201 Tel. 517-788-2590 |  | http://www.cmsenergy.com

#####

|  | Independent Power Production Asset List

|  |  |  | Gross |  |  |  |  |  | Primary |  |  |  |  |  |  |  | Percentage of Gross
|  |  |  | Capacity |  | CMS |  | Fuel |  |  |  | In-Service |  | Capacity Under Long-
No. |  | Project Name |  | MW |  | MW |  | Type |  | Location |  | Date |  | Term Contract
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (%)
Projects in Operation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
* 1 |  | Craven |  |  | 50 |  |  |  | 25 |  |  | Biomass |  | N. Carolina |  |  | 1990 |  |  |  | 0 |
* 2 |  | DIG |  |  | 710 |  |  |  | 710 |  |  | Natural Gas |  | Michigan |  |  | 2001 |  |  |  | 92 |
* 3 |  | Exeter |  |  | 31 |  |  |  | 31 |  |  | Tires |  | Connecticut |  |  | 1991 |  |  |  | 0 |
* 4 |  | Filer City |  |  | 73 |  |  |  | 37 |  |  | Coal/Wood Waste |  | Michigan |  |  | 1990 |  |  |  | 100 |
* 5 |  | Genesee |  |  | 38 |  |  |  | 19 |  |  | Biomass |  | Michigan |  |  | 1996 |  |  |  | 100 |
* 6 |  | Grayling |  |  | 40 |  |  |  | 20 |  |  | Biomass |  | Michigan |  |  | 1992 |  |  |  | 100 |
* 7 |  | Michigan Power |  |  | 224 |  |  |  | 224 |  |  | Natural Gas |  | Michigan |  |  | 1999 |  |  |  | 0 |
Projects in Operation |  |  | 1,166 |  |  |  | 1,066 |  |  |  |  |  |  |  |  |  |  |  |  |

* |  | Operated by CMS Energy As of June 2010

CMS Energy Investor Relations |  | One Energy Plaza, |  | Jackson, MI 49201 Tel. 517-788-2590 |  | http://www.cmsenergy.com