DTE Energy announces electric reliability progress: Customers experienced a 70% improvement in time spent without power in 2024
Rhea-AI Summary
DTE Energy reported significant improvements in electric reliability for 2024, with customers experiencing a 70% reduction in power outage duration compared to 2023. This improvement stems from a $1.5 billion investment in grid infrastructure and less extreme weather conditions.
The company's progress follows a four-point plan focusing on smart grid transition, infrastructure updates, grid rebuilding, and tree management. Key achievements include:
- Installation of 450+ new circuit automation devices, preventing nearly 10,000 outages and 4 million minutes of power interruption
- Construction progress on 12 new substations
- Upgrades along 850+ miles of electric lines and replacement of 3,400 power poles
- Tree management across 4,300 miles of infrastructure
Positive
- 70% improvement in customer power outage duration year-over-year
- $1.5 billion investment in electric grid infrastructure
- Smart grid devices prevented 10,000 outages and 4 million minutes of power interruption
- 12 new substations under development
- Upgraded 850+ miles of electric lines and replaced 3,400 power poles
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, DTE declined 2.95%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Detroit, Jan. 22, 2025 (GLOBE NEWSWIRE) -- DTE Energy today reported the progress it made in 2024 in building a smarter, stronger, and more resilient electric grid for its customers. Due to the impact of enhanced work and increased investment in the electric grid, coupled with less extreme weather, DTE customers experienced a nearly
“When we invest, it works. Thanks to the combination of
To make these improvements possible, DTE is focused on executing the company’s four-point plan to build the grid of the future that includes transitioning to a smart grid, updating existing infrastructure, rebuilding significant portions of the grid and trimming and removing trees away from our lines. In 2024 the company made significant progress including:
- DTE accelerated its transition to smart grid technology with more than 450 new circuit automation devices commissioned in 2024. These devices, combined with a state-of-the-art operations center and additional investments in the field communications system, help to isolate outages and alert DTE’s operations center when wires are down, so that crews can restore power more quickly. In 2024 alone, these smart grid devices helped customers avoid nearly 10,000 outages and 4 million minutes of power interruption and smart grid technologies, like automatic pole top switches, have already helped avoid more than 50,000 customer outages. Every year, these upgrades will continue to help us save money by reducing the frequency of outages and the costs of repairs even more.
- The company continued rebuilding significant sections of the grid, including the construction of new, modern substations and entirely upgraded circuits. DTE currently has 12 new substations in various levels of commissioning, including three that began construction late in 2024
- DTE upgraded and improved existing infrastructure. In 2024, field crews inspected and made upgrades along more than 850 miles of electric lines (longer than the distance between New York City and Chicago) and replaced nearly 3,400 power poles.
- Trees and branches contacting electric equipment account for half the time customers spend without power, and in 2024 DTE trimmed or removed more than 4,300 miles of trees (the distance between Miami and Anchorage) across the many communities the company serves. By the end of this year, DTE will have trimmed or removed trees from over 31,000 miles of overhead infrastructure over the last five years.
To stay informed about ongoing projects you can explore DTE Energy’s Power Improvements Map or visit empoweringmichigan.com
About DTE Energy
DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, x.com/dte_energy and facebook.com/dteenergy.