CMS Energy Corp Q2 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Paul Patterson - Glenrock Associates LLC - Analyst : So most of my questions have been answered. But just back on that securitization question, could you remind me the size of the asset that's now going to be amortized as opposed to securitized?

Question: Paul Patterson - Glenrock Associates LLC - Analyst : Okay. And you guys mentioned that the securitization you thought would be credit negative in comparison to the plan that you're putting forward. And could you -- I mean, just to sort of walk just sort of very high level, the reason for that is because you'll be amortizing the cash flow faster. Is that the way to sort of think about the -- excuse me, you'll be amortizing the assets faster and the cash flow will be stronger, is that how you're looking at this? Or is there something else I should be thinking about?

Question: Paul Patterson - Glenrock Associates LLC - Analyst : Okay. I follow you on that. Of course, you're getting the cash upfront though with the securitization. So I mean, I'm just sort of -- maybe we can take that off-line, but okay, I understand that. And then in terms of the plan, I mean, it sounds like it really is a win-win-win. I'm just wondering, has there been any change in the trajectory or your -- what you're expecting in terms of customer rates going forward, as a result of the IRP? Or is it too early to sort of tell? Are you guys pretty much on track as you were thinking before, and this is just going to be some incremental savings that will help you meet your goals? Do you follow what I'm saying?