What is CMS Energy's gas utility — power supply cost?

CMS Energy (CMS) reported gas utility — power supply cost of $0 in Q1 2026.

What does gas utility — power supply cost mean?

The direct costs associated with procuring or generating power used in the gas utility's operations, such as for compression or distribution infrastructure. This metric tracks the variable cost burden of maintaining gas delivery systems.

CMS Energy CMS Gas Utility — Power supply cost

Other segment segments

Electric Utility

$600M+9.9%

NorthStar Clean Energy

$91M+31.9%

Similar metrics at other companies

MGEEGas — Utilities Operating Expense Fuel And Purchased Power

$0—

NFGUtility — Purchased Gas

$244.86M+42.5%

RGCOGas Utility — Utilities Operating Expense Maintenance And Operations

$5.59M+5.8%

BKH

BKHGas Utilities — Costs And Expenses Direct

$40.4M-8.4%

BKH

BKHGas Utilities — Fuel Purchased Power And Cost Of Gas Sold

$271.2M-7.3%

RGCOGas Utility — Cost of Goods Sold

$24.61M+44.2%

Other financials

Income statement

See full

Revenue$2.7B+11.6%

Operating income$490.0M-0.8%

Net income$340.0M+11.8%

EPS (diluted)$1.10+8.9%

Balance sheet

See full

Cash & equivalents$263.0M-50.0%

Total debt$19.1B+12.7%

Total equity$9.5B+13.6%

Total assets$40.3B+11.0%

Cash flow

See full

Operating cash flow$705.0M-29.5%

CapEx$1.0B+17.0%

Free cash flow-$334.0M-398%

Valuation

See full

Market cap$23.63B+16.1%

Enterprise value$42.49B+13.5%

P/E21.4×+1.4×

P/S2.7×+0.1×

Profitability

See full

Operating margin19.5%-0.6pp

Net margin12.5%-0.6pp

FCF margin12.8%-8.1pp

Returns & leverage

See full

Return on equity12.4%-0.1pp

Debt / equity2×0.0×

Current ratio0.8×-0.2×

Where this comes from

Reported directly by CMS Energy in its filing.

Tagged under the XBRL concept cms:PowerSupplyCosts.

The official record: CMS Energy’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

Ask your AI about CMS Energy's gas utility — power supply cost.

Connect your AI assistant and compare segments, right in your chat.

Connect your AI

Claude

Questions, answered.

What is CMS Energy's gas utility — power supply cost?: CMS Energy (CMS) reported gas utility — power supply cost of $0 in Q1 2026.
What does gas utility — power supply cost mean?: The direct costs associated with procuring or generating power used in the gas utility's operations, such as for compression or distribution infrastructure. This metric tracks the variable cost burden of maintaining gas delivery systems.