DTE ENERGY CO (DTE)

DTE Energy is a Michigan-incorporated (1995) holding company whose core business is regulated electric and natural gas utility service in Michigan, supplemented by non-utility energy businesses. Its utility subsidiaries, DTE Electric (organized in 1903) and DTE Gas (organized in 1898), are indirect wholly-owned subsidiaries and are regulated primarily by the Michigan Public Service Commission, with additional oversight from the FERC, NRC, EPA, EGLE and, for DTE Energy, the CFTC and CARB.

The company reports four segments plus Corporate and Other. The Electric segment, principally DTE Electric, generates, purchases, distributes and sells electricity. Its owned generating capacity is about 12,400 MW, drawn from coal (including the Monroe and Belle River plants), natural gas and oil, the Fermi 2 nuclear plant, the Ludington pumped storage plant, wind, solar and battery storage, supplemented by purchased power. It operates 702 distribution substations and about 46,000 circuit miles of distribution lines, and also includes the non-utility renewable projects of DTE Sustainable Generation. The Gas segment, principally DTE Gas, purchases, stores, transports, distributes and sells natural gas, and sells storage and transportation capacity. It has about 21,000 miles of distribution mains, about 2,000 miles of transmission pipelines and four storage fields with roughly 139 Bcf of working gas capacity. The DTE Vantage segment operates renewable gas recovery sites (twenty-two sites in ten states, converting landfill and agricultural methane into electricity or pipeline-quality gas and environmental credits) and two renewable power plants totaling 70 MW. It also provides custom on-site energy services (power, steam, chilled water, wastewater treatment and compressed air) and produces metallurgical coke for the steel industry. The Energy Trading segment conducts energy marketing and trading. Corporate and Other holds holding company activities, certain non-utility debt and certain investments.

DTE Electric serves approximately 2.3 million residential, commercial and industrial customers in southeastern Michigan, and DTE Gas serves approximately 1.4 million customers across Michigan. Neither depends on a limited number of customers. Electric sales peak in the third quarter on cooling demand, while gas revenues and earnings are concentrated in the first and fourth quarters. About 10% of electric retail sales go to customers using alternative electric suppliers through Michigan's capped retail access program. DTE Vantage serves agricultural, steel, automotive, airport, chemical and other industrial, commercial and institutional customers, and sells renewable gas and environmental attributes to off-takers.

DTE Electric buys coal under long-term and short-term contracts (western and Appalachian) and natural gas under short- and long-term agreements. It participates in the MISO energy market and leases rail cars for coal delivery. DTE Gas buys gas from the Appalachian, Gulf Coast, Mid-Continent, Canadian and Michigan regions, using interstate pipelines such as Vector, ANR, Panhandle Eastern, NEXUS, Great Lakes and Viking. Competition for electric distribution comes mainly from on-site and distributed generation, and gas competition comes from other transportation providers and alternative fuels. The company plans to end coal use by 2032 and to cut carbon emissions, targeting net zero by 2050.