DTE Energy Company (DTE) is underperforming compared to its competitors despite recent strong trading days. Many contested DTE’s proposed 10% rate hike for customers, including the Michigan Attorney General Dana Nessel, who proposed reducing it to under 3%. This announcement sparked protests and an intervention from the AG. Nevertheless, DTE seems to be pushing for further rate increase. The company unveiled plans to install a gas pipeline in Ann Arbor and aims to construct a power storage center at a former coal plant site. Additionally, AG Nessel challenged private jet expenses included in DTE gas rate case. DTE Energy also faces oversight of 'hardship-inducing' debt collection practices. DTE was included in a federal lawsuit over excessive pollution emissions on Zug Island. On the upside, DTE's Q2 earnings beat estimates; it exceeded profit expectations, indicating a rise Y/Y. DTE’s renewable expansion continued, including the 220 MW energy storage center and Little Trout Solar Farm’s project. Recent strategic investments bolstered the company’s position, although investors were unhappy about private jet expenses included in its gas rate case.
Dte Energy Company DTE News Analytics from Thu, 14 Dec 2023 08:00:00 GMT to Sat, 03 Aug 2024 05:46:05 GMT -
Rating -2
- Innovation 5
- Information 7
- Rumor -1
