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Evergy is a regulated electric utility serving eastern Kansas and western Missouri. Major operating subsidiaries include Evergy Metro, Evergy Kansas Central, Evergy Missouri West, and Evergy Transmission Co. The utility has a combined rate base of approximately $20 billion, about half in Kansas and the rest split between Missouri and federal jurisdiction. Evergy is one of the largest wind energy suppliers in the US.

PG&E Corp. is the holding company for Pacific Gas & Electric Co., an investor-owned utility. The utility provides electricity to 5.5 million accounts and natural gas to 4.5 million accounts in northern and central California. Electricity accounted for about 71% of 2023 revenues. The company's customer base is weighted toward residential and small business customers. In 2023, 43% of GWh sales was from residential customers, and 37% was from smaller commercial customers. About 80% of 2023 bundled gas sales was from residential customers. PG&E is also a large operator of underground natural gas storage fields in California. As of the end of 2023, the utility had 26 GWh of generating capacity with an owned generation fuel mix including 25% from natural gas, 15% hydropower, 2% renewable, and 58% nuclear. Purchased power is 35% renewably sourced. The company had planned to shut down the Diablo Canyon nuclear plant by 2025 as management said that it could not afford to run the plant. However, regulators supported the plant, and PCG has now applied for a license and federal aid to continue to operate Diablo Canyon. In May 2022, PCG said that it had met the requirements for inclusion in the S&P 500 after four straight quarters of GAAP earnings. Its market cap is $54.5 billion.

The major stock indices are all broadly lower at midday on Friday. The major theme remains the serious uncertainty over tariffs and all tariff-related issues. But increasing signs of a possibly slowing economy are also very much in play. Today features worrisome guidance from Lululemon Athletica, which warned about cautious consumers. Meanwhile, PCE, the Fed's preferred inflation gauge, showed that prices in February rose more than expected, and the latest readings of consumer sentiment were at the lowest level since 2022.

CMS is an energy company based in Michigan, primarily focused on utility operations within the state. The company has electricity generation, transmission, and distribution operations. Natural gas operations include transmission, distribution, compression, and underground storage operations. Its principal business is Consumers Energy Company, a state and federally regulated utility, provides electricity and natural gas to 1.8 million customers in Michigan. Consumers has about 8.6 GW of generating capacity. CMS's 2024 fuel mix is about 35% coal, 57% natural gas, 8% wind, and 2% hydropower. CMS's operating subsidiary, NorthStar Clean Energy, is a vertically integrated, unregulated company that provides energy marketing for non-utility operations and owns and operates independent power generating plants, and natural gas infrastructure. NorthStar has about 1.6GW of generating capacity and a presence in AK, OH, MI, NC, TX, and WI. Revenues in 2024 were $7.5 billion, of which almost 70% were from electric utility operations, 28% were gas utility, and the remainder was from NorthStar. At year-end 2024, the company had a base rate of about $25.6 billion for combined regulated gas and electric utility assets. The market cap is about $19.8 billion.