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Stock impact report

DTE proposes $474M Michigan electric rate hike [Yahoo! Finance]

DTE Energy Company (DTE) 
Last dte energy company earnings: 4/28 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.dteenergy.com
Company Research Source: Yahoo! Finance
Dive Brief: DTE Energy said Thursday that it plans to file a $474.3 million electric rate case in Michigan next week , adding that it would subsequently freeze the rates for two years — so long as certain new customer projects come online as anticipated and other regulatory approvals are received. Utilities in Michigan are allowed to file new rate cases every 12 months, but a pending proposal in the state legislature would set a three-year minimum between rate cases in response to public backlash over back-to-back increases. DTE Electric has filed five cases in the last seven years, DTE spokesperson Ryan Lowry told Utility Dive. The revenue request DTE intends to file next week supports the conversion of DTE's Belle River Power Plant from coal to natural gas and the development of the 220-MW Trenton Channel Energy Center , which is “expected to be the largest stand-alone battery energy storage facility in the Great Lakes region when it is commissioned,” the utility said. Dive Show less Read more
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