CMS Energy is a Michigan-based energy holding company that provides electricity and natural gas to over two million residential, commercial, and industrial customers through its subsidiaries Consumers Energy and NorthStar Clean Energy. Consumers Energy operates regulated electric and gas utilities in Michigan, generating and distributing power while purchasing and distributing natural gas, while NorthStar Clean Energy develops and operates renewable power generation facilities and markets independent power production. The company generates revenue through utility service sales, rate recovery approved by Michigan regulators, and independent power production, operating under a regulated utility model that permits recovery of infrastructure investments approved through regulatory proceedings.