DTE Energy Company - DTE STOCK NEWS

DTE Energy (NYSE: DTE) has priced its offering of $200 million in 4.375% Junior Subordinated Debentures due October 15, 2080. The proceeds will be utilized to fully redeem the 2012 Series C 5.250% Junior Subordinated Debentures, effective October 22, 2020. The redemption will occur at 100% of the principal amount along with accrued interest, and will be available in minimum denominations of $25. DTE Energy operates energy services in Michigan, serving 2.2 million electric and 1.3 million natural gas customers.

DTE Energy announced on September 22, 2020, its intention to offer new junior subordinated debentures maturing on October 15, 2080. The company plans to use the proceeds to redeem the outstanding $200 million of its 2012 Series C 5.250% junior subordinated debentures due 2062. The offering will be managed by BofA Securities, Morgan Stanley, and Wells Fargo Securities, under an effective shelf registration with the SEC. This announcement is not a redemption notice and does not constitute an offer to sell these securities.

DTE Energy and Consumers Energy have announced a collaborative effort to create a robust network of fast electric vehicle (EV) charging stations across the Midwest by 2022. This initiative aims to address the shortage of fast chargers compared to gas stations, potentially driving up EV adoption. The project will feature partnerships with several energy companies, including Ameren Missouri and Evergy, and is contingent on regulatory approval. Currently, DTE has eight operational fast chargers and plans to expand its network significantly by the end of 2022, aligning with the anticipated launch of 130 new EV models.

DTE Energy has launched a 27-minute virtual field trip to its renewable energy sites in Michigan, promoting education on clean energy's role in combating climate change. Aimed at middle and junior high school students, the video features insights into wind turbines and solar panels, along with career opportunities in the energy sector. An accompanying educators’ guide enhances the learning experience. DTE plans to triple its renewable energy generation by 2030, reinforcing its position as Michigan's largest renewable energy producer.

DTE Energy has been recognized for achieving the Highest in Customer Satisfaction for Residential Natural Gas Service in the Midwest, as per the J.D. Power 2020 study. The gas company scored highest in customer safety, reliability, communications, and corporate citizenship. DTE Gas serves 1.3 million customers, operating over 21,000 miles of pipelines. The company is investing $3.5 million to modernize its infrastructure, focusing on replacing outdated pipes and enhancing safety measures, reflecting its commitment to reliable service.

DTE Energy announced plans to significantly increase its renewable energy generation capacity, pending approval from the Michigan Public Service Commission. The initiative includes adding 420 megawatts of solar energy by 2022, enough to power 120,000 homes. By year-end 2022, DTE aims to generate enough energy from wind and solar to power 900,000 homes and offset approximately 4.7 million tons of CO2 emissions. The updated MIGreenPower program reflects growing customer interest in renewable energy, with major companies like General Motors and Ford participating.

DTE Energy is bolstering Michigan's economic growth by delivering energy to three impactful business development sites: an Amazon distribution center, a Fiat Chrysler assembly plant, and a retooling project at Ford Motor Co. These projects rank among North America's top 20 development deals. DTE's economic development team assists businesses in securing low-cost energy rates and access to renewable energy. The company aims for significant reduction of carbon emissions by 2040, aligning with its commitment to sustainable growth and community support.

DTE Midstream has initiated test gas flow in its Louisiana Energy Access Project (LEAP), set to fully commence on August 1, 2020. This 150-mile, 36-inch pipeline connects Louisiana’s Haynesville Basin to the Gulf Coast, catering to the increasing demand for natural gas in various sectors, including LNG exports. LEAP is fully contracted with a capacity of 1.0 Bcf/d and notable expansion potential. DTE Midstream emphasizes safety and efficiency, completing the project ahead of schedule and under budget.

DTE Energy issued guidance to customers in response to a summer heat wave affecting Southeastern Michigan, advising on ways to reduce energy bills. With temperatures exceeding 90 degrees, energy usage is expected to rise, particularly as residents stay home due to the ongoing COVID-19 pandemic. Suggested tips include using microwaves for cooking, postponing laundry until cooler evening hours, and checking HVAC filters regularly. DTE also offers rebates for air conditioner replacements and encourages the use of its DTE Insight app for tracking energy consumption.