Dte Energy Co Stock Price, News & Analysis

DTE Energy (NYSE: DTE) announced a significant investment of $2.2 billion in Michigan businesses in 2021, creating and sustaining over 10,000 jobs. Since 2010, DTE has invested nearly $16 billion, generating approximately 54,000 jobs. The company has increased spending with diverse suppliers, allocating $715 million to certified diverse vendors and $820 million to Detroit-based businesses. DTE's commitment to supplier diversity is underscored by 10 industry awards received in 2021, promoting economic growth in local communities.

DTE Energy announced the enrollment of Loyola High School of Detroit in its MIGreenPower program, a top voluntary renewable energy initiative in the U.S. The school becomes the first high school to join this program, which allows customers to attribute their energy use to DTE’s renewable sources. MIGreenPower has enrolled over 1.8 million megawatt hours of clean energy, equivalent to removing more than 277,400 cars from the road for a year. DTE aims for net zero carbon emissions by 2050 and plans to invest $2.8 billion in renewable energy by 2025.

DTE Energy proposes a $388 million investment to modernize Michigan's energy grid and enhance electric generation systems to meet 21st-century demands. This initiative, the Grid Modernization/CleanVision plan, includes a review process with the Michigan Public Service Commission aimed at securing the first rate increase in two-and-a-half years, potentially raising residential bills by an average of $10 per month. The investment focuses on infrastructure improvement, reliability, and a commitment to cleaner energy, while allowing for public input over 10 months.

DTE Energy has announced a donation of $5 million to assist low-income residents in Michigan during the state's severe winter weather. The contributions include $2.25 million to the United Way of Southeastern Michigan, $1 million to the Salvation Army, $1 million to True North, and $750,000 to The Heat and Warmth Fund (THAW). These funds will support customers struggling with energy bills and help enroll them in affordable payment plans. Over $50 million has been donated since 2016, highlighting DTE’s commitment to community support.

DTE Energy and the Detroit-Windsor Tunnel announced the tunnel's enrollment in DTE's MIGreenPower program, starting with 10% of its electricity use attributed to renewable sources. The goal is to reach 100% by 2030, with current usage equating to avoiding greenhouse gas emissions from 356,212 miles driven by a typical passenger vehicle. MIGreenPower supports environmental goals and boasts over 46,000 residential and 450 business subscribers, including major companies like Ford and General Motors, contributing 1.8 million megawatt hours of clean energy.

The DTE Energy Foundation has awarded over $1 million in grants to ten Michigan organizations to support community programs addressing basic needs such as food and shelter. Grant recipients include Feeding America West Michigan, Habitat for Humanity, and Meals on Wheels. These funds aim to enhance services for vulnerable populations across Michigan, ensuring access to essential resources like nutritious food and housing assistance. The initiative underscores the Foundation's commitment to improving the quality of life for residents, particularly during the holiday season.

DTE Energy received $84 million from the Michigan Public Service Commission to modernize its natural gas infrastructure serving 1.3 million customers. This includes a $3.18 rise in average residential bills, offset by a strategy saving customers nearly $20 monthly this winter due to earlier gas contracts. The infrastructure improvements aim to reduce greenhouse gas emissions significantly by 2035, equivalent to removing 100,000 cars from the road. Customers can access assistance programs for bill management and support.

DTE Energy (NYSE: DTE) has announced that its 2022 Annual Meeting of Common Stock Shareholders will take place on May 5, 2022. Shareholders of record by March 8, 2022, can vote at the meeting. Those wishing to propose business or nominate directors must inform the corporate secretary by January 20, 2022. DTE Energy, based in Detroit, serves 2.3 million electric customers and 1.3 million natural gas customers in Michigan. The company is committed to reducing carbon emissions by over 80% by 2040 and achieving net zero emissions by 2050.