Consumers Energy scores $276.6m rate hike, says will ask to raise rates yet again in June

LANSING – The Michigan League of Conservation Voters today issued the following statement after the Michigan Public Service Commission approved Consumers Energy’s rate hike request that will raise its electric rates for Michigan families and businesses by $276.6 million. The Commission allowed the company a return on equity (profit percentage the utility is allowed to earn for its investors) of 9.9% – far higher than was recommended by a third-party judge in January. The corporation has already indicated it plans to ask for another rate hike in June.  

“Working families and businesses are struggling with skyrocketing energy costs. Meanwhile, monopoly utility company Consumers Energy is raising our energy bills again while making billions in record profits for shareholders,” said Alex Kellogg, Energy Accountability Manager for the Michigan LCV. “Our bills are too damn high, and it’s time for leaders in Lansing to pass a Ratepayer Bill of Rights to rein in rising energy costs and out of control utility greed.”

CMS Energy, the parent company of Consumers Energy, reported a profit of more than $1 billion in 2025, crediting rate increases it received last year as part of the reason. Consumers Energy’s CEO made more than $10 million in 2024, the most recent year for which data is available. Today’s rate increase also marks the corporation’s sixth electric hike in six years.

Research by the Citizens Utility Board of Michigan has repeatedly found Michigan families and businesses pay the highest energy bills in the Midwest yet endure some of the longest power outages in the country. 

Consumers’ new electric rates will take effect in May of this year and affect approximately 1.8 million families and businesses across Michigan. A typical residential customer will see their rates go up by $6.46 a month.

A Ratepayer Bill of Rights would:

• Ban political contributions from regulated utilities to lawmakers. 
• Stop Michigan families and businesses from funding CEO bonuses and corporate lavish lifestyles while customers sit in the dark for too long. 
• Guarantee the right to reliable, affordable energy for every household. 
• Empower residents to choose their own electric provider and communities to produce more of their own clean energy, like community solar, without obstruction from monopoly utilities.