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DTE Energy Company (NYSE: DTE) provides essential energy services to 3 million Michigan customers through its regulated utilities and innovative energy solutions. This page aggregates official press releases, financial announcements, and operational updates from one of America’s leading diversified energy providers.
Investors and stakeholders will find timely updates on earnings reports, regulatory filings, and infrastructure modernization projects, including the company’s grid reliability initiatives and renewable energy ventures. All content is sourced directly from DTE Energy’s corporate communications to ensure accuracy.
Key coverage areas include strategic partnerships, rate case decisions, clean energy investments, and service territory expansions. Bookmark this page for streamlined access to verified information about DTE’s operational milestones and financial performance.
DTE Energy (NYSE: DTE) announced a significant investment of $2.5 billion in Michigan businesses in 2022, generating and sustaining over 11,000 jobs. The company has invested nearly $18 billion since 2010, creating approximately 65,000 jobs statewide. Local spending increased by 13.5% from 2021, with $894 million directed to diverse suppliers and $900 million to Detroit-based firms. DTE aims to enhance partnerships with Michigan suppliers, fostering local economic growth while improving service quality for customers.
DTE Energy reported a successful 2022, achieving earnings of $1.1 billion or $5.52 per diluted share, up from $907 million or $4.67 in 2021. Operating earnings also increased to $6.10 per share compared to $5.99 in the previous year. Key achievements included the retirement of two coal plants, the launch of the CleanVision plan with a $9 billion investment, and significant growth in the voluntary renewable energy program. DTE's operating EPS guidance for 2023 is estimated at $6.09 - $6.40. The company continued to enhance customer satisfaction and invest in Michigan's economy.
DTE Vantage has launched its eighth renewable natural gas (RNG) project in Wisconsin, converting methane from dairy manure into sustainable RNG. The facility, in partnership with Matsche Farms, which manages 10,000 cows, will produce enough RNG to fuel about 1,600 vehicles annually. This initiative contributes to reducing greenhouse gas emissions by repurposing methane that would otherwise escape into the atmosphere. DTE Vantage collaborates with U.S. Gain to transport the RNG to California, enhancing the state's cleaner transportation fuel supply. DTE Vantage operates 13 facilities across the U.S., emphasizing its position as a major RNG producer in the Midwest.
DTE Energy announced a significant investment of over $1 billion in its electric grid in 2022, enhancing power reliability for customers. The company reported a 21% reduction in power interruptions and a 40% decrease in average outage duration compared to 2021. Focused work in specific areas yielded 40-70% reliability improvements. Key initiatives included trimming over 6,500 miles of trees and inspecting 8,500 miles of circuits, particularly in counties like Wayne, Oakland, Macomb, and Washtenaw. DTE remains committed to ongoing infrastructure upgrades to provide reliable services.
DTE Energy has declared a cash dividend of $0.9525 per share on its common stock, payable on April 15, 2023, to shareholders recorded by March 20, 2023. This announcement continues the company's tradition of over 100 years of dividend payments. DTE Energy is focused on cleaner energy initiatives, including significant renewable energy purchases and coal plant retirements. The company aims to reduce CO2 emissions by 90% and methane emissions by 80% by 2040, striving for net zero carbon emissions by 2050.
DTE Energy has partnered with Walker-Miller Energy Services to create the Energy Efficiency Academy, aiming to quadruple participants in 2023. This initiative addresses the demand for energy-efficient home repairs and builds a skilled workforce in Detroit. Initially launched in Fall 2022 with 10 participants, the Academy now offers an eight-week paid program that includes classroom and field training, enabling participants to earn certifications. The program responds to an urgent need for skilled trades, with 2.2 million hires needed nationwide by 2024. DTE aims to improve housing conditions while supporting the local economy.
DTE Energy has reduced its Gas Cost Recovery (GCR) rate as of January 1, 2023, allowing natural gas customers in Michigan to save nearly $5 million on February heating bills. This reduction is attributed to the company's strategic purchase of natural gas, which shields customers from price spikes. DTE's gas purchasing strategy includes locking in prices up to three years in advance and storing gas during the summer for winter use. This proactive approach keeps DTE among Michigan's lowest-cost providers, with expectations for further price reductions in the coming months.
DTE Energy (NYSE:DTE) will announce its full year 2022 earnings on February 23, 2023, before market opening. A conference call to discuss the results will be held at 9 a.m. ET the same day, available for live listening through the company’s website.
DTE Energy, based in Detroit, serves 2.3 million electric and 1.3 million natural gas customers in Michigan. The company aims for a 90% reduction in CO2 emissions and over 80% reduction in methane emissions by 2040, while aspiring for net zero carbon emissions by 2050. More details can be found on their website.
DTE Energy (NYSE: DTE) has officially retired two coal-fired power plants, the Trenton Channel and St. Clair, advancing its net-zero emissions goals. Currently, one-third of DTE's electricity is sourced from carbon-free power, including renewables like wind and solar. The company is committed to retraining displaced workers and has plans to invest $9 billion into Michigan's economy over the next decade, supporting over 25,000 jobs. DTE aims to phase out coal by 2035 and significantly reduce carbon emissions by nearly 90% by 2040.
DTE Energy (NYSE: DTE) has announced that its 2023 Annual Meeting of Common Stock Shareholders will take place on May 4, 2023. Shareholders of record as of March 7, 2023, are eligible to vote. Those wishing to propose business or nominate directors must notify the corporate secretary by January 5, 2023. DTE Energy is focused on the development of diversified energy services across the U.S., emphasizing a commitment to cleaner energy with plans to significantly reduce CO2 and methane emissions by 2040. The company aims for net zero carbon emissions by 2050.
