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
: First, a question on the O&M. So the $100 million or so that you identified in 2020 was extremely impressive. Now that the year is closed, how are
you thinking about that in terms of sustainability of that $100 million?
And then as a follow-up in the waterfall on Page 15, can you just dig a little further into the negative $0.27 of higher cost as far as how much of
that is built into the new rates? And how much is what I would call your typical annual CE Way cost savings?
Question: Andrew Marc Weisel - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. Sounds good. Then one on the heating season and bills. Obviously, gas prices are up. You've got this bad economy. Can you give us an
update on what you're seeing from customers in terms of their ability to pay their bills. And I'm sure it's always a concern, but how does it compare
now versus in the past seasons? And maybe if you could dig a little deeper into some of the programs that you've got to help your -- to help support
the customers in need?
Question: Andrew Marc Weisel - Scotiabank Global Banking and Markets, Research Division - Analyst
: All right. That sounds great. If I could squeeze one last one, just to confirm. You rolled forward the 5-year CapEx, but the 10-year plan of $25 billion
with $3 billion to $4 billion of upside. That's just a reiteration, right? That's not meant to be a roll forward. Am I right that, that won't be updated
until after the IRP is done in 1.5 years or so?
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: So very -- some really quick bookends here. On interbank -- and I apologize if I missed this, the $0.02 increase in the fourth quarter, was there
anything in particular there that happened?
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: Okay, great. And then on slide -- so Slide 8. So this estimated cost savings, I just wanted to touch base on what they sort of represent? So I can see
with Karn and Campbell, it's adjusted O&M savings. But I don't -- I'm not really clear on Palisades. And I'm just wondering also, since securitization,
it looked like a $126 million, I think that was estimated by the commission. And I wanted to sort of get a sense as to why those aren't being included,
if you know what I mean?
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: Well, there was a securitization order for about $680 million, $690 million or something that you guys got in December. And I think $126 million
was basically -- was what they basically thought was the savings that they called out as being the savings in it. I guess what I'm wondering is, it
seems like there might be other savings that you guys would be encountering here from securitization. Also, it seems maybe some stuff in the coal
as well that you guys aren't adding in there. And I'm just wondering why you're not calling those out?
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FEBRUARY 04, 2021 / 2:30PM, CMS.N - Q4 2020 CMS Energy Corp Earnings Call
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: And are these annual numbers or?
Question: Paul Patterson - Glenrock Associates LLC - Analyst
: And so just -- I'm sorry to be slow on this, but it looks like there's maybe considerably more savings that you guys might be getting from this. I
mean, this seems conservative, these cost savings that you're bringing up. I mean, some of it, obviously, we'll go back to customers. But am I correct
in that?
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