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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
,
U.S.
Key people
Gerard M. Anderson (Chairman, Chief Executive Officer and President)
Revenue
  • Increase US$ 12,301.00 million (2014)[1] Increase US$ 9,661.0 million (2013)[2]
  • Decrease US$ 8,791.0 million (2012)[2]
  • Increase US$1,590 million (2014)[3]
  • Decrease US$ 1,203.0 million (2013) [2]
  • Decrease US$ 1,279.0 million (2012) [2]
  • Increase US$911 million (2014)[3]
  • Increase US$ 661.0 million (2013) [2]
  • Decrease US$ 610.0 million (2012)[2]
Total assets
  • Decrease US$ 25,935.0 million (2013)[4]
  • Increase US$ 26,339.0 million (2012)[2]
Total equity
  • Increase US$ 7,954.0 million (2013) [4]
  • Increase US$ 7,411.0 million (2012) [2]
Number of employees
10,262[5]
Websitewww.dteenergy.com

DTE Energy Co. is a Detroit, Michigan-based utility incorporated in 1995 involved in the development and management of energy-related businesses and services nationwide.

DTE Energy's largest operating subsidiaries are DTE Energy Electric Company (formerly Detroit Edison), an investor-owned electric utility serving 2.1 million customers in Southeastern Michigan; and DTE Gas Company (formerly Michigan Consolidated Gas Company (MichCon)), a natural gas utility serving 1.2 million customers in Michigan. The two companies merged in 2001.[6]

The name "DTE" is taken from the stock symbol for the former Detroit Edison, DTE.[7]

Existing coal-fired power plants

DTE Electric's Monroe Power Plant.
DTE Electric's St. Clair Power Plant.

As of 2005 DTE Energy has 22 coal-fired generating stations with 7,998 MW of capacity. Here is a list of DTE Energy's coal power plants with capacity over 100 MW:

Plant Name County Year(s) Built Capacity
Monroe Monroe 1971–1974 3300 MW
St. Clair St. Clair 1953–1954, 1961–1969 1928 MW
Belle River St. Clair 1984–1985 1664 MW
Trenton Channel Wayne 1949–1950, 1968 776 MW
River Rouge Wayne 1957–1958 651 MW
Marysville St Clair 1943–1947 150 MW
Harbor Beach Huron 1968 121 MW

In 2006, DTE Energy's 7 major coal-fired power plants emitted 43.3 million tons of CO
2 (0.7% of all U.S. CO2 emissions) and 214,000 tons of SO
2 (1.4% of all U.S. SO
2 emissions).

In 2016, DTE Energy retired three coal-fired generating units among its plants. In June 2016, DTE Energy said that it would close eight additional coal-fired generators at three coal plants in Michigan by the year 2023.[8] The plants are located in River Rouge, St. Clair in East China Township and Trenton. In sum, the plants power around 900,000 homes. DTE Energy plans to replace them with renewable energy. The Detroit Free Press wrote that employees at the closing plants will be able to transfer to other facilities and will not lose their jobs.[9]

Many of DTE Energy's coal plants were built in the 1950s and 1960s and "are nearing retirement age."[8]

Renewable Energy

Since 2009, DTE Energy has invested over $1 billion in renewable energy according to their 2015 - 2016 Corporate Citizenship Report.[10]

Solar

As of June 2016, DTE Energy plans to build a solar arrays in Lapeer, Michigan that will be one of the largest in the eastern United States. It will do so as it retires coal-fired generators at coal plants in Michigan. According to DTE Energy, it is the largest investor in renewable energy in Michigan. It has invested over $2 billion since 2008.[8]

In May 2016, the company broke ground on a solar array project in Lapeer, MI touted as the largest utility-owned solar array east of the Mississippi River. When the project is completed, it is expected to generate enough electricity to power 9,000 homes.[11] DTE Energy also broke ground on a 10 acre solar installation in Detroit on the site of the abandoned O'Shae Park.[12]

Criticism

In December 2011, the non-partisan organization Public Campaign criticized DTE Energy for spending $4.37 million on lobbying and not paying any taxes during 2008-2010, instead getting $17 million in tax rebates, despite making a profit of $2.5 billion.[13]

See also

References

  1. ^ https://www.sec.gov/Archives/edgar/data/936340/000093634015000014/dteenergy2014123110k.htm#s288E76D7DC5C3F95055BAB3090F4CE4B
  2. ^ a b c d e f g h "DTE ENERGY CO 2013 Q4 Quarterly Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 14, 2014.
  3. ^ a b "DTE ENERGY CO 2014 Fiscal Year End Form 10K".
  4. ^ a b "DTE ENERGY CO 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. April 25, 2014.
  5. ^ "Company Profile for DTE Energy Co (DTE)". Retrieved 2008-10-17.
  6. ^ "Decision and Order" (PDF). Federal Trade Commission. 22 March 2001. Retrieved 2015-03-20.
  7. ^ "Company History". DTE Energy. Retrieved 2015-03-20.
  8. ^ a b c "DTE Energy closing three coal plants, constructing large solar array - Daily Energy Insider". 2016-06-21. Retrieved 2016-07-20.
  9. ^ Witsil, Frank (2016-06-08). "DTE to shut down three coal plants within 7 years". Detroit Free Press. Retrieved 2016-07-20.
  10. ^ "DTE-Environment".
  11. ^ "New DTE Energy solar projects give Lapeer sunny outlook - thecountypress.mihomepaper.com - The County Press".
  12. ^ Nocerini, Shianne (17 September 2016). "O'Shea Park Gets A Second Life, This Time With Solar Panels".
  13. ^ Portero, Ashley. "30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008-2010". International Business Times. Archived from the original on 26 December 2011. Retrieved 26 December 2011. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  • 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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