# EDGAR Filing Document

**Accession Number:** 0001606104
**File Stem:** 0001606104-25-000010
**Filing Date:** 2025-11
**Character Count:** 21039
**Document Hash:** 2ec1d75cef0e098cdecbe4794ae7d619
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001606104-25-000010.hdr.sgml**: 20251104

**ACCESSION NUMBER**: 0001606104-25-000010

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251104

**DATE AS OF CHANGE**: 20251104

**ABS ASSET CLASS**: Other

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Consumers 2014 Securitization Funding LLC
- **CENTRAL INDEX KEY:** 0001606104
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 465038143
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-195654-01
- **FILM NUMBER:** 251447260

**BUSINESS ADDRESS:**
- **STREET 1:** ONE ENERGY PLAZA
- **CITY:** JACKSON
- **STATE:** MI
- **ZIP:** 49201
- **BUSINESS PHONE:** 517-788-1030

**MAIL ADDRESS:**
- **STREET 1:** ONE ENERGY PLAZA
- **CITY:** JACKSON
- **STATE:** MI
- **ZIP:** 49201

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-D**

**ASSET-BACKED ISSUER**

**DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**For the semi-annual distribution period from**

**May 1, 2025 to October 31, 2025**

Commission File Number of issuing entity: <u>333-195654-01</u> 

Central Index Key Number of issuing entity: <u>0001606104</u>

**<u>CONSUMERS 2014 SECURITIZATION FUNDING LLC</u>**

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor and sponsor: <u>1-5611</u>

Central Index Key Number of depositor and sponsor: <u>0000201533</u>

**<u>CONSUMERS ENERGY COMPANY</u>**

(Exact name of depositor and sponsor as specified in its charter)

<u>Shaun M. Johnson, (517) 788-1947</u>

(Name and telephone number, including area code, of the person to contact in connection with this filing)

<u>Delaware</u>

(State or other jurisdiction of incorporation or organization of the issuing entity)

<u>46-5038143</u>

(I.R.S. Employer Identification No.)

<u>One Energy Plaza, Jackson, Michigan</u> <u>49201</u> <br> (Address of principal executive offices of the issuing entity) (Zip Code)

Telephone number, including area code: <u>(517) 788-1947</u>

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| | | | | |
|:---|:---|:---|:---|:---|
| Title of class | Registered/reporting pursuant to (check one) | Registered/reporting pursuant to (check one) | Registered/reporting pursuant to (check one) | Name of exchange (If Section 12(b)) |
| Title of class | Section 12(b) | Section 12(g) | Section 15(d) | Name of exchange (If Section 12(b)) |
| Senior Secured Securitization Bonds, Series 2014A, Tranche A-3 | □ | □ | 🗹 | |

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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes 🗹&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No □

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**PART I** – **DISTRIBUTION INFORMATION**

**Item 1. Distribution and Pool Performance Information.**

The response to Item 1 is set forth in part herein and in part in Exhibit 99.1.

The record date for distributions described in Exhibit 99.1 is October 31, 2025.

Introductory and explanatory information regarding the material terms, parties, and distributions described in Exhibit 99.1 is included in the Prospectus Supplement relating to the Senior Secured Securitization Bonds, Series 2014A (the "Securitization Bonds"), dated July 14, 2014, and related Prospectus, dated July 7, 2014, of Consumers 2014 Securitization Funding LLC (the "Issuing Entity") filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) of the Securities Act of 1933 on July 16, 2014, under the depositor's Commission File Number.

As indicated in Exhibit 99.1, all required interest and scheduled principal payments on the Securitization Bonds have been made with respect to the November 1, 2025 distribution date.

**The following Items have been omitted pursuant to General Instruction C of Form 10-D.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Item 1A. Asset-Level Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Item 1B. Asset Representations Reviewer and Investor Communication.

**PART II** – **OTHER INFORMATION**

**Item 2. Legal Proceedings.**

None.

**Item 3. Sales of Securities and Use of Proceeds.**

None.

**Item 7. Change in Sponsor Interest in the Securities.**

None.

**The following Items have been omitted pursuant to General Instruction C of Form 10-D:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Item 4. Defaults Upon Senior Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Item 5. Reserved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Item 6. Significant Obligors of Pool Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Item 8. Significant Enhancement Provider Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Item 9. Other Information.

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**Item 10. Exhibits.**

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| | |
|:---|:---|
| **<u>Exhibits</u>** | **<u>Description</u>** |
| 3.1 | <u>[Certificate of Formation of Consumers 2014 Securitization Funding LLC (Exhibit 3.1 to Form S-3 filed May 2, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914034072/a14-9989_1ex3d1.htm)</u> |
| 3.2 | <u>[Amended and Restated Limited Liability Company Agreement of Consumers 2014 Securitization Funding LLC dated and effective as of July 22, 2014 (Exhibit 3.2 to Form 8-K filed July-K filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex3d2.htm)</u> |
| 4.1 | <u>[Indenture by and between Consumers 2014 Securitization Funding LLC, Issuer and The Bank of New York Mellon, Indenture Trustee and Securities Intermediary, dated as of July 22, 2014 (Exhibit 4.1 to Form 8-K filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex4d1.htm)</u> |
| 4.2 | <u>[Form of Senior Secured Securitization Bonds, Series 2014A (Exhibit 4.1 to Form 8-K filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex4d1.htm)</u> |
| 10.1 | <u>[Securitization Property Servicing Agreement by and between Consumers 2014 Securitization Funding LLC, Issuer and Consumers Energy Company, Servicer, dated as of July 22, 2014 (Exhibit 99.1 to Form 8-K-filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex99d1.htm)</u> |
| 10.2 | <u>[Securitization Property Purchase and Sale Agreement by and between Consumers 2014 Securitization Funding LLC, Issuer and Consumers Energy Company, Seller, dated as of July 22, 2014 (Exhibit 99.2 to Form 8-K filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex99d2.htm)</u> |
| 10.3 | <u>[Administration Agreement by and between Consumers 2014 Securitization Funding LLC and Consumers Energy Company, as administrator, dated as of July 22, 2014 (Exhibit 99.3 to Form 8-K filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex99d3.htm)</u> |
| 10.4 | <u>[Series Supplement by and between Consumers 2014 Securitization Funding LLC and The Bank of New York Mellon, Indenture Trustee, dated as of July 22, 2014 (Exhibit 99.7 to Form 8-K filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex99d7.htm)</u> |
| 10.5 | <u>[Intercreditor Agreement among The Bank of Nova Scotia, Liberty Street Funding LLC, The Bank of New York Mellon, Consumers Funding LLC, Consumers 2014 Securitization Funding LLC, Consumers Receivables Funding II, LLC and Consumers Energy Company, dated as of July 22, 2014 (Exhibit 99.8 to Form 8-K filed July 22, 2014, and incorporated herein by reference)](https://www.sec.gov/Archives/edgar/data/201533/000110465914052591/a14-9989_13ex99d8.htm)</u> |
| 99.1 | <u>[Semi-annual Servicer's Certificate relating to the Securitization Bonds, dated October 22, 2025](ce2014sf10d20251104_ex99-1.htm)</u> |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| |
|:---|
| CONSUMERS 2014 SECURITIZATION FUNDING LLC |
| (Issuing Entity) |
| By: Consumers Energy Company, as Servicer |
| /s/ Scott B. McIntosh |
| Scott B. McIntosh |
| Vice President, Controller and Chief Accounting Officer |

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Date: November 4, 2025

## Exhibit 99.1

Exhibit 99.1

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| | | |
|:---|:---|:---|
| SEMI-ANNUAL SERVICER'S CERTIFICATE | SEMI-ANNUAL SERVICER'S CERTIFICATE | SEMI-ANNUAL SERVICER'S CERTIFICATE |
| Pursuant to Section 4.01(c)(ii) of the Securitization Property Servicing Agreement, dated as of July 22, 2014 (the "Servicing Agreement"), by and between CONSUMERS ENERGY COMPANY, as servicer (the "Servicer"), and CONSUMERS 2014 SECURITIZATION FUNDING LLC, the Servicer does hereby certify, for the November 1, 2025 Payment Date (the "Current Payment Date"), as follows: | Pursuant to Section 4.01(c)(ii) of the Securitization Property Servicing Agreement, dated as of July 22, 2014 (the "Servicing Agreement"), by and between CONSUMERS ENERGY COMPANY, as servicer (the "Servicer"), and CONSUMERS 2014 SECURITIZATION FUNDING LLC, the Servicer does hereby certify, for the November 1, 2025 Payment Date (the "Current Payment Date"), as follows: | Pursuant to Section 4.01(c)(ii) of the Securitization Property Servicing Agreement, dated as of July 22, 2014 (the "Servicing Agreement"), by and between CONSUMERS ENERGY COMPANY, as servicer (the "Servicer"), and CONSUMERS 2014 SECURITIZATION FUNDING LLC, the Servicer does hereby certify, for the November 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. | 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. | 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. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collection Periods:** April 1, 2025 to September 30, 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collection Periods:** April 1, 2025 to September 30, 2025 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Payment Date:** November 1, 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Payment Date:** November 1, 2025 |  |
| **1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:** | **1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:** |  |
| i. | Remittances for the April 2025 Collection Period | $2754240.00 |
| ii. | Remittances for the May 2025 Collection Period | $2663345.00 |
| iii. | Remittances for the June 2025 Collection Period | $2626834.00 |
| iv. | Remittances for the July 2025 Collection Period | $3114840.00 |
| v. | Remittances for the August 2025 Collection Period | $3470370.00 |
| vi. | Remittances for the September 2025 Collection Period | $3266495.00 |
| vii. | Investment Earnings on Capital Subaccount | $40721.65 |
| viii. | Investment Earnings on Excess Funds Subaccount | $102831.66 |
| ix. | Investment Earnings on General Subaccount | $243837.75 |
| **x.** | **General Subaccount Balance (sum of i through ix above)** | **$18283515.06** |
| xi. | Excess Funds Subaccount Balance as of prior Payment Date | $4966071.55 |
| xii. | Capital Subaccount Balance as of prior Payment Date | $1890000.00 |
| **xiii.** | **Collection Account Balance (sum of x through xii above)** | **$25139586.61** |
| **2. Outstanding Amounts as of prior Payment Date:** | **2. Outstanding Amounts as of prior Payment Date:** |  |
| i. | Tranche A-1 Outstanding Amount | $0.00 |
| ii. | Tranche A-2 Outstanding Amount | $0.00 |
| iii. | Tranche A-3 Outstanding Amount | $96596587.62 |
| **iv.** | **Aggregate Outstanding Amount of all Tranches** | **$96596587.62** |

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| | | | | |
|:---|:---|:---|:---|:---|
| **3. Required Funding/Payments as of Current Payment Date:** | **3. Required Funding/Payments as of Current Payment Date:** | **3. Required Funding/Payments as of Current Payment Date:** | | |
| ***Principal*** | ***Principal*** | | | ***Principal Due*** |
| i. | Tranche A-1 |  |  | $0.00 |
| ii. | Tranche A-2 |  |  | $0.00 |
| iii. | Tranche A-3 |  |  | $15592836.25 |
| **iv.** | **All Tranches** |  |  | **$15592836.25** |
| ***Interest*** |  |  |  |  |
| **Tranche** | **Interest Rate** | **Days in Interest Period[1]** | **Principal Balance** | **Interest Due** |
| v. Tranche A-1 | 1.334% | 180 | $0.00 | $0.00 |
| vi. Tranche A-2 | 2.962% | 180 | $0.00 | $0.00 |
| vii. Tranche A-3 | 3.528% | 180 | $96596587.62 | $1703963.81 |
| **viii. All Tranches** |  |  |  | **$1703963.81** |
|  |  | **<u>Required Level</u>** |  | **<u>Funding Required</u>** |
| ix. Capital Subaccount | ix. Capital Subaccount | $1890000.00 |  | $0.00 |
| **4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:** | **4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:** | **4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:** | **4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:** |  |
| i. Trustee Fees and Expenses; Indemnity Amounts | i. Trustee Fees and Expenses; Indemnity Amounts | i. Trustee Fees and Expenses; Indemnity Amounts | $3750.00 | $3750.00 |
| ii. Servicing Fee | ii. Servicing Fee | ii. Servicing Fee | $94500.00 | $94500.00 |
| iii. Administration Fee | iii. Administration Fee | iii. Administration Fee | $25000.00 | $25000.00 |
| iv. Operating Expenses | iv. Operating Expenses | iv. Operating Expenses | $68300.00 | $68300.00 |
| **<u>Tranche</u>** |  | **<u>Aggregate</u>** | **<u>Per $1,000 of Original Principal Amount</u>** |  |
| v. Semi-Annual Interest (including any past-due for prior periods) | v. Semi-Annual Interest (including any past-due for prior periods) | v. Semi-Annual Interest (including any past-due for prior periods) |  | $1703963.81 |
| 1. Tranche A-1 Interest Payment | 1. Tranche A-1 Interest Payment | $0.00 | $0.0000 |  |
| 2. Tranche A-2 Interest Payment | 2. Tranche A-2 Interest Payment | $0.00 | $0.0000 |  |
| 3. Tranche A-3 Interest Payment | 3. Tranche A-3 Interest Payment | $1703963.81 | $14.8818 |  |
|  |  | **$1703963.81** |  |  |
| vi. Principal Due and Payable as a Result of an Event of Default or on Final Maturity Date | vi. Principal Due and Payable as a Result of an Event of Default or on Final Maturity Date | vi. Principal Due and Payable as a Result of an Event of Default or on Final Maturity Date | 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 | 1. Tranche A-1 Principal Payment | $0.00 | $0.0000 |  |
| 2. Tranche A-2 Principal Payment | 2. Tranche A-2 Principal Payment | $0.00 | $0.0000 |  |
| 3. Tranche A-3 Principal Payment | 3. Tranche A-3 Principal Payment | $0.00 | $0.0000 |  |
|  |  | **$0.00** |  |  |
| vii. Semi-Annual Principal | vii. Semi-Annual Principal |  |  | $15592836.25 |
| 1. Tranche A-1 Principal Payment | 1. Tranche A-1 Principal Payment | $0.00 | $0.0000 |  |
| 2. Tranche A-2 Principal Payment | 2. Tranche A-2 Principal Payment | $0.00 | $0.0000 |  |
| 3. Tranche A-3 Principal Payment | 3. Tranche A-3 Principal Payment | $15592836.25 | $136.1820 |  |
|  |  | **$15592836.25** |  |  |
| [1] On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | [1] On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | [1] On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | [1] On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. | [1] On 30/360 day basis for initial payment date; otherwise use one-half of annual rate. |

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| | | |
|:---|:---|:---|
| viii. Other unpaid Operating Expenses | viii. Other unpaid Operating Expenses | $0.00 |
| ix. Funding of Capital Subaccount (to required level) | ix. Funding of Capital Subaccount (to required level) | $0.00 |
| x. Capital Subaccount Investment Earnings to Consumers Energy | x. Capital Subaccount Investment Earnings to Consumers Energy | $40721.65 |
| xi. Deposit to Excess Funds Subaccount | xi. Deposit to Excess Funds Subaccount | $754443.35 |
| xii. Released to Issuer upon Retirement of all Securitization Bonds | xii. Released to Issuer upon Retirement of all Securitization Bonds | $0.00 |
| **xiii. Aggregate Remittances as of Current Payment Date** | **xiii. Aggregate Remittances as of Current Payment Date** | **$18283515.06** |
| **5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):** | **5. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):** | **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 | $0.00 |
| ii. | Tranche A-2 | $0.00 |
| iii. | Tranche A-3 | $81003751.37 |
| **iv.** | **Aggregate Outstanding Amount of all Tranches** | **$81003751.37** |
| v. | Excess Funds Subaccount Balance | $5720514.90 |
| vi. | Capital Subaccount Balance | $1890000.00 |
| **vii.** | **Aggregate Collection Account Balance** | **$7610514.90** |
| **6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture:** | **6. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture:** | **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:** | **7. Shortfalls in Interest and Principal Payments as of Current Payment Date:** | **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 |
|  | Tranche A-3 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 |
|  | Tranche A-3 Principal Payment | $0.00 |
|  | **Total** | **$0.00** |
| **8. Shortfalls in Payment of Capital Subaccount Investment Earnings as of Current Payment Date:** | **8. Shortfalls in Payment of Capital Subaccount Investment Earnings as of Current Payment Date:** | **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:** | **9. Shortfalls in Required Subaccount Levels as of Current Payment Date:** | **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 22nd day of October, 2025. |
| CONSUMERS ENERGY COMPANY, |
| as Servicer |
| /s/ Scott B. McIntosh |
| Scott B. McIntosh |
| Vice President, Controller and Chief Accounting Officer |

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