CMS Energy Corporation (NYSE:CMS) Q3 2023 Earnings Call Transcript

Garrick Rochow: Thank you.

Operator: And our next question today is from the line of Anthony Crowdell of Mizuho. Anthony, your line is open.

Anthony Crowdell: Hey, all of my questions have been answered. Thanks so much. I am good.

Garrick Rochow: Good to hear from you, Anthony.

Operator: Our next question is from the line of Ross Fowler of UBS. Ross, your line is now open.

Ross Fowler: Hi, Garrick, hi, Rejji how are you?

Garrick Rochow: Good morning, Ross.

Rejji Hayes: Hey, Ross. How are you?

Ross Fowler: Good morning. Let’s take it to the full hour why not. And Garrick there’s lot as many auto – auto analogies as you’d like in the answer to this question. But I just wanted to get an update on the estimated bills meter installation issue given the commission filed that show cost a couple of days ago. So I know Rejji kind of talked about this back when I saw in August but just an update there. And then the second part of the question is do you think that has any sort of lateral impacts on the rate case proceeding, or from your perspective is the commission really looking at these as two separate filings and issues.

Garrick Rochow: So I don’t know if I have any auto analogies for this one. We talked about this in great detail and I provide probably a long answer maybe too long an answer on the Q2 call. So I’ll try to be brief but this is just the next step in that. And so what I shared back again briefly what I shared in Q2 was recall that we had some 3G meters that were no longer supported. Our vendor could not meet some of the supply chain needs again considered a carryover from the pandemic and did not meet some of the read required reads out in the field. And so that creates some billing issues for our customers. That’s a problem. And the Public Service Commission clearly identified that. And so we shared in our Q2 call that that issue is behind us.

We filed a report in August and this is the next step to reach resolution. And so I don’t it’s an important step. It gets us to the final end of this with the commission. I don’t see any spillover impact into the electric rate case or in any other filings.

Ross Fowler: All right. Thank you very much.

Garrick Rochow: Thank you, Ross.

Operator: And we have no further questions in the queue today. So I’d like to hand back to Mr. Garrick Rochow for any final remarks.

Garrick Rochow: Thanks, Harry and I’d like to thank you for joining us today. We’ll see you at EEI. Please take care and stay safe.

Operator: This concludes today’s conference. We thank everyone for your participation.