DTE Energy is a diversified energy company headquartered in Detroit. It operates in the United States and Canada, focusing on energy-related businesses and services. Key operations include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers, both located in Michigan. The company provides electricity and natural gas to a significant portion of Michigan's population.
Analysts forecast DTE Energy's future with varied projections, highlighting reasons to include the stock in investment portfolios. Morgan Stanley lowered DTE's price target, impacting investor sentiment.
In 1903, two companies merged to form the Detroit Edison Company, which began trading on January 17. That same year, construction started on the Delray 1 Power Plant, and Henry Ford founded Ford Motor Company.
In 1908, with increasing demand for electricity, the Delray 2 Power Plant was added.
In 1924, Detroit Edison began increasing its production capacity by building the Marysville power plant.
In 1929, Detroit Edison increased its production capacity by building the Trenton Channel and Delray 3 power plants.
In 1954, Detroit Edison added the St. Clair Power Plant, which was 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.
In 1970, Detroit Edison started construction of the Fermi 2 nuclear plant.
From 1971, Monroe Power Plant Units 1-4 came online.
In 1972, construction began on the Greenwood Energy Center, Detroit Edison's first inland plant designed for both oil- and nuclear-fueled generating units.
In 1973, the Ludington Pumped Storage Plant, co-owned by Detroit Edison and Consumers Power Company, went into service.
In 1981, MichCon became a wholly owned subsidiary of Primark Corp.
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.
In 1984, Belle River Unit 1 went online.
In 1985, Belle River Unit 2 went online, supporting the new marketing push and increasing customer demand.
In 1986, the Detroit Edison Foundation was formed to manage the company's charitable giving programs and volunteer efforts.
In 1988, Primark spun-off MichCon, and the MCN Corp. was established as the parent company of MichCon.
In 1988, the Fermi 2 unit was licensed and went online. The company also founded what is now DTE Biomass Energy to begin collecting methane gas from landfills for use in energy production.
In January 1996, Detroit Edison reorganized as a holding company, becoming DTE Energy. "DTE" was selected because it was the existing stock ticker symbol for Detroit Edison.
In 1996, Detroit Edison reorganized as a holding company and became DTE Energy. The acronym "DTE" was chosen as it was the existing stock ticker symbol for Detroit Edison.
On May 31, 2001, DTE Energy and MCN Energy Group completed a merger, creating Michigan's largest energy company and a premier regional energy provider. MichCon became an operating company of DTE Energy.
In 2007, DTE Energy began acquiring wind development rights on more than 100,000 acres of land in the Thumb area.
In December 2012, the first DTE Energy-owned and constructed wind parks were commissioned, connected to the grid, and began generating power. Two of these wind parks are located in Huron County and one in Sanilac County.
On October 27, 2020, DTE announced its plan to spin off DTE Midstream into an independent, publicly-traded business called DT Midstream.
In 2020, 32.62% of DTE Electric's power generation came from renewable and nuclear generation, while 67.13% came from coal, gas, and oil.
On July 1, 2021, DT Midstream was successfully spun off from DTE.
According to a statement released by the White House on Nov 18, 2021, DTE Energy participated in the American Rescue Plan by committing to help customers during the COVID-19 pandemic, by proactively using resources.
As of 2022, DTE's electricity generation was comprised of 54.16% coal, 18.16% nuclear, 14.22% natural gas, and 13.11% renewable energy sources like wind, solar, and hydroelectric power.
On January 16, 2025, DTE Gas and DTE Electric received a total of $8.81 billion in conditional commitments for loan guarantees through the US Department of Energy's Loan Programs Office that would be used to install thousands of megawatts of renewable energy generation and storage.
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