The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrew Marc Weisel - Scotiabank Global Banking and Markets, Research Division - Analyst
: Just wondering, within the 6% to 8% range, are there a bias one way? No, I'm just joking. I understand that you're going to be
conservative and not answer that, but signs seem to be pointing up. Just 2 clarifying questions I have for you. First, on equity after
2024, is $250 million, a good number for us to [pen to lin] for 25 and beyond?
Question: Andrew Marc Weisel - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. Then just quickly on the CapEx. So you point to $1 billion of upside. I understand you don't want to get ahead of your next
update or the regulators, but you've got the IRP going on underway. So that 10-year plan hasn't been updated since the last IRP with
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JUNE 08, 2021 / 3:15PM, CMS.N - CMS Energy Corp to Discuss Strategic Sale of EnerBank USA Call
the $3 billion to $4 billion of opportunities, when can we expect an update and roll forward to the 10-year CapEx plan? And is that
part of the same process as adding the $1 billion? Or are those 2 independent tracks?
Question: Andrew Marc Weisel - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. Understood. So just to be sure then, the $1 billion of upside that you're pointing to in the slide deck today is not related to the
IRP nor related to this transaction, you're simply emphasizing that, that's something that we might see in 6 months or 8 months or
whatever the next update is? Is that right?
Question: Andrew Marc Weisel - Scotiabank Global Banking and Markets, Research Division - Analyst
: Great. And congrats on getting the deal done.
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: If I recall, it was -- you guys tried to do this earlier many years ago with Home Depot, is that right?
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JUNE 08, 2021 / 3:15PM, CMS.N - CMS Energy Corp to Discuss Strategic Sale of EnerBank USA Call
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: And obviously, there was -- the conditions changed and what have you. But I'm just wondering, with respect to the current situation,
how should we think about -- are there any special contingencies or anything associated with this deal? Or is it just pretty much sort
of the customary that's involved kind of closing conditions?
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: Okay. All my other questions were answered.
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