Michigan Commission Approves DTE Plans to Keep Stable Electric Rates until 2022 and Achieve 2021 Renewable Energy Goal
July 09 2020 - 3:43PM
- Innovative plan maintains stable electric rates until 2022
- DTE to attain renewable energy mandate in 2021
- DTE further accelerates River Rouge coal plant closing
DETROIT, July 9, 2020 – DTE Electric today received
approval from the Michigan Public Service Commission (MPSC) for an
innovative plan to keep electric rates unchanged from today until
2022. The company’s Renewable Energy Plan was also approved by the
Commission.
Following a 12-week moratorium on service interruptions in
response to the COVID-19 pandemic, and $30-40 million bill
reduction for electric customers in June and July, the regulatory
plan maintains current electric rates to help customers as they
recover from the pandemic. The plan also allows continued
investments in infrastructure and tree trimming programs plus the
accelerated retirement of the River Rouge power plant, now only
10-months away. The plant was previously scheduled to retire in
2022.
“Today’s decision will allow DTE to continue to prioritize
affordability for our customers as the communities we serve recover
from the public health impacts and economic fallouts related to the
pandemic,” said Trevor Lauer, president of the electric company at
DTE Energy. “These approved plans will enable DTE to meet our
commitment to clean, affordable renewable energy while, at the same
time, keeping rates stable for our customers. By bringing new
renewable energy projects online, our clean energy efforts will
benefit the environment and aid in Michigan’s economic recovery.”
DTE’s Renewable Energy Plan will bring an additional 353
megawatts of wind and solar projects online by 2022. New solar
projects in 2022 will triple DTE’s solar generation capacity. When
operational, the new projects will annually offset 619,154 metric
tons of C02e, equivalent to the greenhouse gas emissions from
134,000 cars.* DTE is Michigan’s largest renewable energy producer
and, when these projects are complete, the company will generate
enough clean energy to power 620,000 homes.
DTE’s commitment to clean energy also benefits Michigan’s
economy. Since 2009, DTE has been the largest investor in
renewables in Michigan, driving $3 billion in solar and wind energy
infrastructure and investments. Over the next four years, the
company will invest an additional $2 billion in renewable energy
assets and more than double its renewable energy capacity.
By 2021, 15% of DTE customer’s energy will be generated by
renewable energy. Customers can opt in for a greater percentage, up
to 100%, of Michigan made renewable energy through MiGreenPower,
DTE’s voluntary renewable energy program.
To learn more about DTE’s long-term carbon reduction goals,
please visit dtecleanenergy.com.
About DTE Energy
DTE Energy (NYSE: DTE) 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 company serving 2.2 million customers
in Southeast Michigan and a natural gas company serving
1.3 million customers in Michigan. The DTE portfolio includes
energy businesses focused on power and industrial projects;
renewable natural gas; natural gas pipelines, gathering and
storage; and energy marketing and trading. As an environmental
leader, DTE utility operations will reduce carbon dioxide and
methane emissions by more than 80% by 2040 to produce cleaner
energy while keeping it safe, reliable and affordable. DTE Electric
and Gas aspire to achieve net zero carbon and greenhouse gas
emissions by 2050. DTE is committed to serving with its energy
through volunteerism, education and employment initiatives,
philanthropy and economic progress. Information about DTE is
available at dteenergy.com, empoweringmichigan.com,
twitter.com/dte_energy and facebook.com.
*Avoided emissions and equivalencies are based on the
Environmental Protection Agency equivalencies calculator at
http://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator.
Cindy Hecht
DTE Energy
313.235.5555
Pete Ternes
DTE Energy
313.235.5555
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