DTE Energy proposes $388M investment into Michigan’s grid funded by rate increase
In an effort to meet future electrification needs, adapt to climate change, and increase reliability, DTE Energy this week suggested a $388 million modernization effort for Michigan’s energy grid, electric storage, and generation system.
However, such an investment would have to come from somewhere, and to that end, DTE sought approval from the Michigan Public Service Commission (MPSC) for a rate increase. If approved following a 10-month review process, the company’s first rate increase in more than two years could increase the average residential customer’s bills by as much as $10 per month.
“DTE Energy and our customers imagine a future for Michigan when Michigander’s lives and livelihoods are enhanced by their connection to new technologies powered by a strong and reliable system; when we’re powering our electric grid with clean energy sources; and when the state’s energy mix makes Michigan a beacon for economic development,” Trevor Lauer, president and COO of DTE’s electric company, said. “That bright future is within our reach if we invest in a modernized grid of the future powered by cleaner energy generation.”
All investment funds in this proposal would improve its service, including modernizing infrastructure and producing cleaner energy. Part of this would also make room for the continuation of the company’s tree trimming surge program, deployment of smart technologies for the reliability push, and modernization investments in key items such as substations, poles, wires, transformers, and more.
On the clean energy side, the proposal also included arrangements for the company’s Blue Water Energy Center, the retirement of its St. Clair and Trenton Channel Power Plants, and the launch of new battery and hydrogen storage pilot programs.
