Consumers 2023 Securitization Funding LLC

09/09/2025 | Press release | Distributed by Public on 09/09/2025 11:01

Asset-Backed Issuer Distribution Report (Form 10-D)


Exhibit 99.1
SEMI-ANNUAL SERVICER'S CERTIFICATE
Pursuant to Section 4.01(c)(ii) of the Securitization Property Servicing Agreement, dated as of December 12, 2023 (the "Servicing Agreement"), by and between CONSUMERS ENERGY COMPANY, as servicer (the "Servicer"), and CONSUMERS 2023 SECURITIZATION FUNDING LLC, the Servicer does hereby certify, for the September 1, 2025 Payment Date (the "Current Payment Date"), as follows:
Capitalized terms used but not defined herein have their respective meanings as set forth in the Servicing Agreement. References herein to certain sections and subsections are references to the respective sections of the Servicing Agreement or the Indenture, as the context indicates.
Collection Periods: February 1, 2025 to July 31, 2025
Payment Date: September 1, 2025
1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
i. Remittances for the February 2025 Collection Period $10,098,072.00
ii. Remittances for the March 2025 Collection Period $11,090,076.00
iii. Remittances for the April 2025 Collection Period $9,858,328.00
iv. Remittances for the May 2025 Collection Period $9,480,569.00
v. Remittances for the June 2025 Collection Period $9,332,930.00
vi. Remittances for the July 2025 Collection Period $11,205,720.00
vii. Investment Earnings on Capital Subaccount $68,416.86
viii. Investment Earnings on Excess Funds Subaccount $107,003.09
ix. Investment Earnings on General Subaccount $858,757.87
x. General Subaccount Balance (sum of i through ix above) $62,099,872.82
xi. Excess Funds Subaccount Balance as of prior Payment Date $6,895,107.93
xii. Capital Subaccount Balance as of prior Payment Date $3,230,000.00
xiii. Collection Account Balance (sum of x through xii above) $72,224,980.75
2. Outstanding Amounts as of prior Payment Date:
i. Tranche A-1 Outstanding Amount $150,669,739.57
ii. Tranche A-2 Outstanding Amount $396,000,000.00
iii. Aggregate Outstanding Amount of all Tranches $546,669,739.57
3. Required Funding/Payments as of Current Payment Date:
Principal
Principal Due
i. Tranche A-1 $42,970,334.42
ii. Tranche A-2 $0.00
iii. All Tranches $42,970,334.42
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Interest
Tranche Interest Rate Days in Interest Period [1] Principal Balance
Interest Due
iv. Tranche A-1 5.550% 180 $150,669,739.57 $4,181,085.27
v. Tranche A-2 5.210% 180 $396,000,000.00 $10,315,800.00
vi. All Tranches $14,496,885.27
Required Level Funding Required
vii. Capital Subaccount $3,230,000.00 $0.00
4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:
i. Trustee Fees and Expenses; Indemnity Amounts [2] $0.00
ii. Servicing Fee $161,500.00
iii. Administration Fee $25,000.00
iv. Operating Expenses $73,271.35
Tranche Aggregate Per $1,000 of Original Principal Amount
v. Semi-Annual Interest (including any past-due for prior periods) $14,496,885.27
1. Tranche A-1 Interest Payment $4,181,085.27 $16.7243
2. Tranche A-2 Interest Payment $10,315,800.00 $26.0500
$14,496,885.27
vi. Principal Due and Payable as a Result of an Event of Default or on Final Maturity Date $0.00
1. Tranche A-1 Principal Payment $0.00 $0.0000
2. Tranche A-2 Principal Payment $0.00 $0.0000
$0.00
vii. Semi-Annual Principal $42,970,334.42
1. Tranche A-1 Principal Payment $42,970,334.42 $171.8813
2. Tranche A-2 Principal Payment $0.00 $0.0000
$42,970,334.42
viii. Other unpaid Operating Expenses $0.00
ix. Funding of Capital Subaccount (to required level) $0.00
x. Capital Subaccount Investment Earnings to Consumers Energy $68,416.86
xi. Deposit to Excess Funds Subaccount $4,304,464.92
xii. Released to Issuer upon Retirement of all Securitization Bonds $0.00
xiii. Aggregate Remittances as of Current Payment Date $62,099,872.82
[1] On 30/360 day basis for initial payment date; otherwise use one-half of annual rate.
[2] 4.i Trustee Annual Fee of $7,500 which is paid on an annual basis outside of the semi-annual bond payments.
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5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):
i. Tranche A-1 $107,699,405.15
ii. Tranche A-2 $396,000,000.00
iii. Aggregate Outstanding Amount of all Tranches $503,699,405.15
iv. Excess Funds Subaccount Balance $11,199,572.85
v. Capital Subaccount Balance $3,230,000.00
vi. Aggregate Collection Account Balance $14,429,572.85
6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture:
i. Excess Funds Subaccount $0.00
ii. Capital Subaccount $0.00
iii. Total Withdrawals $0.00
7. Shortfalls in Interest and Principal Payments as of Current Payment Date:
i. Semi-annual Interest
Tranche A-1 Interest Payment $0.00
Tranche A-2 Interest Payment $0.00
Total $0.00
ii. Semi-annual Principal
Tranche A-1 Principal Payment $0.00
Tranche A-2 Principal Payment $0.00
Total $0.00
8. Shortfalls in Payment of Capital Subaccount Investment Earnings as of Current Payment Date:
i. Capital Subaccount Investment Earnings $0.00
9. Shortfalls in Required Subaccount Levels as of Current Payment Date:
i. Capital Subaccount $0.00
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In WITNESS WHEREOF, the undersigned has duly executed and delivered this Semi-Annual Servicer's Certificate this 21st day of August, 2025.
CONSUMERS ENERGY COMPANY,
as Servicer
/s/ Scott B. McIntosh
Scott B. McIntosh
Vice President, Controller and Chief Accounting Officer
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Consumers 2023 Securitization Funding LLC published this content on September 09, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 09, 2025 at 17:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]