Detroit's economy may be lackluster, but DTE Energy still provides a reliable spark. The holding company's main subsidiary, Detroit Edison, distributes electricity to some 2.1 million customers in southeastern Michigan. The utility's power plants (mainly fossil-fueled) have a generating capacity of more than 10,420 MW. The company's Michigan Consolidated Gas (MichCon) unit distributes natural gas to 1.2 million customers. DTE Energy's nonregulated operations (in 26 US states) include energy marketing and trading; coal transportation and procurement; energy management services for commercial and industrial customers; independent and on-site power generation; and gas exploration, production, and processing.
The company operates in the Midwest, the northeastern US, and eastern Canada. It has utilities in Michigan and merchant generation facilities in Illinois, Indiana, and Michigan. Its portfolio includes non-utility energy businesses operating in 26 states (energy trading, power and industrial projects, coal and gas midstream, and unconventional gas production).
DTE Energy has electric and gas utilities. It also has wholesale power, gas, and coal marketing operations.
Higher rates and increased power demand lifted DTE Energy's overall revenues in 2011 by 4% despite lower natural gas prices, which caused gas utility revenues to drop by 9%. Net income was up by 13%, primarily due to lower operational costs and a drop in depreciation, depletion, and amortization charges, and lower interest expenses.
DTE Energy is expanding its nonutility businesses (especially gas storage and pipeline projects and power and industrial projects) to broaden its revenue base. In 2012 it signed a deal with Spectra Energy and Enbridge to jointly develop the NEXUS Gas Transmission system, a 250-mile long pipeline project to transport the growing supplies of Ohio Utica shale gas to markets in Michigan, Ohio, and Ontario.
As part of its commitment to reduce its carbon footprint to meet regulatory requirements the company is developing alternatives to coal-fired power generation, and is seeking ways to conserve power. In 2011 the company was operating four biomass-fired electric generating plants with a capacity of 183 MW. In addition, DTE Energy offers appliance recycling and is pursuing the adoption of advanced metering infrastructure and other technologies to improve the efficiency of its electric distribution service.
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$54,865 per year