DTE Energy

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DTE Energy Co.
Public
Traded as NYSEDTE
S&P 500 Component
Industry Electric and Gas Utilities
Headquarters Detroit, Michigan, U.S.
Key people
Gerard M. Anderson (Chairman, Chief Executive Officer and President)
Revenue
  • Increase US$ 12.301 billion (2014)[1] Increase US$ 9.661 billion (2013)[2]
  • Decrease US$ 8.791 billion (2012)[2]
  • Increase US$1.59 billion (2014)[3]
  • Decrease US$ 1.203 billion (2013) [2]
  • Decrease US$ 1.279 billion (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 billion (2013)[4]
  • Increase US$ 26.339 billion (2012)[2]
Total equity
  • Increase US$ 7.954 billion (2013) [4]
  • Increase US$ 7.411 billion (2012) [2]
Number of employees
10,262[5]
Website www.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 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[edit]

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[edit]

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

Solar[edit]

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'Shea Park.[12]

Criticism[edit]

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[edit]

References[edit]

External links[edit]