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DTE Energy

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DTE Energy Co.
Company typePublic
NYSE: DTE
S&P 500 Component
IndustryElectric and gas utilities
Headquarters
Detroit, Michigan
,
United States
Key people
Gerardo Norcia (President and Chief Executive Officer)[1]
Gerard M. Anderson
(Executive Chairman)[1]
Revenue
  • Decrease US$ 12.669 billion (2019)[2] Increase US$ 14.212 billion (2018)[3]
1,748,000,000 United States dollar (2022) Edit this on Wikidata
  • Increase US$1.69 billion (2019)[4]
  • Increase US$ 1.12 billion (2018)[3]
Total assets
  • Increase US$ 41.882 billion (2019)[5]
  • Increase US$ 36.288 billion (2018)[3]
Number of employees
10,700 (2019)
SubsidiariesDTE Electric Company, DTE Gas, DTE Midstream, DTE Power & Industrial and DTE Energy Trading
Websitewww.dteenergy.com

DTE Energy (formerly Detroit Edison until 1996) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan.

The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading.

In 2016, DTE announced plans to reduce carbon emissions by 80 percent by 2050, but moved up that goal by a decade, pledging to reduce emissions by 80 percent by 2040. DTE will reduce carbon emissions by 50 percent by 2030.

In 2019, DTE Electric Company announced a goal to achieve net-zero carbon emissions by 2050.

As of 2018, 91.94% of DTE's electricity was generated from non-renewable sources.[6]

History

Early 1900s

At the turn of the century, the Edison Illuminating Co. and the Peninsular Electric Light Co. (which owned the electric distribution franchise in the area) provided all commercial electric lighting and power in the city of Detroit.

In January 1903, Detroit Edison purchased securities of the two companies and incorporated on January 17, 1903. That same year, construction began on the Delray 1 Power Plant, and Henry Ford, who had left Edison Illuminating four years earlier, founded Ford Motor Company.

In 1903, the Detroit Gas Co. was renamed the Detroit City Gas Co. It secured franchises for Highland Park and Hamtramck and increased its customer base to more than 67,000.

In 1904, Detroit Edison signed its first power contract with an automobile company — the Cadillac Motor Car Co.

In 1905, a majority of the Detroit City Gas Co. was acquired by the American Light & Traction Co., a holding company that controlled utility and transportation interests stretching from Grand Rapids to Milwaukee.

With the added demand for electricity, the Delray 2 Power Plant was added in 1908.

In 1913, Detroit City Gas acquired additional service territory that included the communities of River Rouge, Wyandotte, Dearborn, Ecorse and Trenton.

1920s

Between 1924 and 1929, Detroit Edison increased its production capacity by building the Marysville, Trenton Channel and Delray 3 power plants.

1930s

In 1937, a plan was developed to merge the Detroit City Gas Co., the Grand Rapids Gas Light Co., the Washtenaw Gas Co. and the Ann Arbor Gas Co. The merger was approved by the Securities and Exchange Commission and the Michigan Public Service Commission, and in 1938 the new utility became known as Michigan Consolidated Gas Co., or MichCon.

1940s

To meet the increasing demand for natural gas, the Michigan-Wisconsin Pipeline was completed in 1945.

In 1949, Michigan Consolidated Gas, the Milwaukee Gas Co., the Michigan-Wisconsin Gas Co., the Austin Field Pipeline Co. and the Milwaukee Solvay Co. became the American Natural Gas Co.

1950s

Detroit Edison added the St. Clair Power Plant in 1954 — one of the largest power plants in the world at the time.

In 1956, Detroit Edison broke ground for the Enrico Fermi Power Plant and also began work on the River Rouge Power Plant.

1970s

This era marked another construction phase that included the start of the Fermi 2 nuclear plant in 1970 and Monroe Power Plant Units 1-4, which came online from 1971-74.

Construction also began in 1972 on the Greenwood Energy Center — the company's first inland plant designed for both oil - and nuclear-fueled generating units.

The Ludington Pumped Storage Plant, co-owned by Detroit Edison and Consumers Power Company, also went into service in 1973.

1980s

MichCon became a wholly owned subsidiary of Primark Corp in 1981. In 1988, Primark spun-off MichCon, and the MCN Corp. was established as the parent company of MichCon.

In 1983, Detroit Edison sought to sell its engineering expertise through the creation of Utility Technical Services, later called SYNDECO — Detroit Edison's first subsidiary business.

Supporting the new marketing push and increasing customer demand were Belle River Units 1 and 2, which went online in 1984 and 1985.

In 1986, the Detroit Edison Foundation was formed to manage the company's charitable giving programs and volunteer efforts that had grown over the years.

The Fermi 2 unit was licensed and went online in 1988. The company also founded what is now DTE Biomass Energy to begin collecting methane gas from landfills for use in energy production.

1990s

In January 1996, Detroit Edison established a holding company — DTE Energy. “DTE” was selected because it was the existing stock symbol for Detroit Edison. “Energy” was chosen to represent the company's vision to provide integrated energy (not just electric) solutions to customers.

2000s

On May 31, 2001 DTE Energy and MCN Energy Group completed a merger which created Michigan's largest energy company and a premier regional energy provider.

In 2007, DTE Energy began acquiring wind development rights on more than 100,000 acres of land in the Thumb area. The first DTE Energy-owned and constructed wind parks were commissioned (connected to the grid and generating power) in December 2012. Two of these wind parks are located in Huron County and one in Sanilac County.

Operations

Utility

DTE Electric

DTE Electric Company is a state-regulated electric utility serving 2.2 million residential and business customers throughout Southeast Michigan and the thumb region.

DTE Electric's power generation portfolio includes renewable energy, but is primarily generated by fossil fuels. In 2018, 73.09% of electricity generated by DTE came from coal, gas, and oil. DTE's emission levels of Carbon Dioxide, Sulfur Dioxide, Nitrogen Oxides, and High-Level nuclear waste were all higher than regional averages.[7]

DTE Gas

DTE Gas is a state-regulated natural gas provider to 1.3 million residential, commercial and industrial customers throughout Michigan.

Non-Utility

DTE Power & Industrial

The group began by building upon Detroit Edison's (now DTE Electric) existing capabilities and customer relationships to develop non-regulated (non-utility) projects within Michigan. Since then, the business has expanded its geographic reach and broadened its products and services to a nationwide customer base.

DTE Power & Industrial now encompasses 74 projects in 15 states with a focus on three main business lines: Industrial Energy Services, Renewable Energy and Environmental Controls.

DTE Biomass Energy operates as an independent subsidiary of DTE Power & Industrial.

DTE Midstream

DTE Midstream is a builder, investor and owner-operator of gathering, regulated pipelines, and gas storage assets – a strong midstream portfolio – serving producers, gas & electric utilities, marketers, power plants and large industrial customers.

Currently, DTE Midstream owns more than 2,200 miles of pipelines with a capacity of 11.0 Bcf/d and 338,600 HP of compression across the Midwest, Northeast, and the Louisiana Midstream business. In addition, DTE Midstream owns 91 Bcf of gas storage with 1.2 Bcf per day of deliverability.

DTE Energy Trading

DTE Energy Trading is an active physical and financial gas, power and environmental marketing company operating in Ann Arbor, Michigan.

DTE Energy Trading provides energy sourcing and management solutions for a broad range of customers such as investor-owned gas and electric utilities, municipalities, electric cooperatives, gas producers, renewable energy users and producers and independent power producers, while also managing a significant portfolio of gas transport and storage as well as power generation and transmission assets throughout the North American markets.

DTE Energy Foundation

Among the state's largest foundations committed to Michigan-focused giving, the DTE Energy Foundation supports initiatives focused on arts and culture, community transformation, economic progress, education and employment, environment and human needs. The DTE Energy Foundation supports events and programs that help generate more than $50 million in local economic activity in the past year.

See also

References

  1. ^ a b "DTE Energy Executive Committee". DTE. June 2019. Retrieved June 24, 2019.
  2. ^ https://d18rn0p25nwr6d.cloudfront.net/CIK-0000936340/14648858-45b8-4ebc-a042-3b55fc6f8b1a.pdf
  3. ^ a b c {{cite web|url=https://d18rn0p25nwr6d.cloudfront.net/CIK-0000936340/14648858-45b8-4ebc-a042-3b55fc6f8b1a.pdf
  4. ^ "DTE ENERGY CO 2014 Fiscal Year End Form 10K".
  5. ^ {{cite web|url=https://d18rn0p25nwr6d.cloudfront.net/CIK-0000936340/14648858-45b8-4ebc-a042-3b55fc6f8b1a.pdf
  6. ^ "DTE Energy Fuel Mix". newlook.dteenergy.com. Retrieved 3 June 2020.
  7. ^ "DTE Energy Fuel Mix". newlook.dteenergy.com. Retrieved 3 June 2020.
  • Official DTE Energy Co. website
  • DTE Energy Power and Renewables:
  • DTE Biomass Energy.
  • Credit Reporting Article.
  • DTE Energy turns Clean Energy Prize into start-up opportunities
  • Business data for DTE Energy:
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