CMS ENERGY CORP
For the period ended Mar 31, 2025. Filed Apr 24, 2025.
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Mar 31, 2025 · Filed Apr 24, 2025
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12: Exit Activities
In accordance with its Clean Energy Plan, Consumers plans to retire the J.H. Campbell coal-fueled generating units in 2025. In order to ensure necessary staffing at J.H. Campbell through retirement, Consumers has implemented a retention incentive program. The aggregate cost of the J.H. Campbell program through 2025 is estimated to be less than $50 million. The MPSC has approved deferred accounting treatment for these costs; these expenses are deferred as a regulatory asset.
As of March 31, 2025, the cumulative cost incurred and deferred as a regulatory asset related to the J.H. Campbell retention incentive program was $45 million. Amounts deferred under the program are subsequently collected from customers over three years.
Presented in the following table is a reconciliation of the retention benefit liability recorded in other liabilities on Consumers’ consolidated balance sheets:
| In Millions | ||
|---|---|---|
| Three Months Ended March 31 | 2025 | 2024 |
| Retention benefit liability at beginning of period | $14 | $16 |
| Costs deferred as a regulatory asset | 2 | 3 |
| Retention benefit liability at the end of the period1 | $16 | $19 |
1 Includes current portion of other liabilities of $16 million at March 31, 2025 and $8 million at March 31, 2024.
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