DTE Energy

DTE Energy Co.
Public
Traded as NYSE: DTE
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)
Products Electricity Natural Gas
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 is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.2 million customers in Southeastern Michigan 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.

The name "DTE" is taken from the stock symbol for the former Detroit Edison, DTE.[6]

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.[7] 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.[8]

Many of DTE Energy's coal plants were built in the 1950s and 1960s and "are nearing retirement age".[7]

Renewable energy

Since 2009, DTE Energy has invested over $1 billion in renewable energy according to their 2015–2016 Corporate Citizenship Report.[9]

Solar

As of June 2016, DTE Energy had 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.[7]

In May 2016, the company broke ground on a solar array project in Lapeer, Michigan 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.[10] DTE Energy also broke ground on a 10-acre solar installation in Detroit on the site of the abandoned O'Shea Park.[11]

Landfill-based gas-to-energy operations

In May 2017, DTE Energy announced it had acquired "two landfill-based gas-to-energy operations" in Texas. The company wants to expand its operations to alternative vehicle fuel. The operations it acquired were the Fort Bend Power Producers, LLC facility outside of Rosenberg, Texas and the Seabreaze landfill gas development in Angleton, Texas, which has yet to be developed.[12]

After these projects are operational, the company will have five "landfill conversion facilities which capture and convert dangerous landfill gases to pipeline-quality renewable natural gas". The gases will go to fueling transit buses.[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. 1 2 3 4 5 6 7 8 "DTE ENERGY CO 2013 Q4 Quarterly Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 14, 2014.
  3. 1 2 "DTE ENERGY CO 2014 Fiscal Year End Form 10K".
  4. 1 2 "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. ↑ "Company History". DTE Energy. Retrieved 2015-03-20.
  7. 1 2 3 "DTE Energy closing three coal plants, constructing large solar array - Daily Energy Insider". 2016-06-21. Retrieved 2016-07-20.
  8. ↑ Witsil, Frank (2016-06-08). "DTE to shut down three coal plants within 7 years". Detroit Free Press. Retrieved 2016-07-20.
  9. ↑ "DTE-Environment".
  10. ↑ "New DTE Energy solar projects give Lapeer sunny outlook - thecountypress.mihomepaper.com - The County Press".
  11. ↑ Nocerini, Shianne (17 September 2016). "O'Shea Park Gets A Second Life, This Time With Solar Panels".
  12. 1 2 Galford, Chris (2017-05-31). "In acquisition of Texas renewable gas facilities, DTE Biomass looks to expand landfill operations - Daily Energy Insider". Daily Energy Insider. Retrieved 2017-05-31.
  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.
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