AG Nessel asks MPSC to cut DTE's proposed $474 million rate hike by 71%

DTE Energy plans to build two new gas plants in Michigan, totaling 2,100 MW, as part of its strategy to replace retiring coal capacity. The company filed a notice with regulators, indicating it will seek approval for the projects. DTE had previously allocated $2.5 billion for one gas plant, but now plans two. Michigan produces little natural gas, so imports will likely increase.

The U.S. government is urging the 6th Circuit Court to uphold a $100 million penalty against DTE Energy Co. for Clean Air Act violations at a Michigan facility, according to a court filing.

Peter Thiel's hedge fund, Thiel Macro, reported a $418.7M portfolio, with seven of eight positions in energy companies, including Vista Energy, Vistra, and American Electric Power. The fund's largest holding is Amazon, at $118M, 28% of the portfolio, betting on AI-driven electricity demand.

DTE Energy (DTE), a $29B diversified energy company, has underperformed the S&P 500 over 52 weeks, down 1.7% vs. 19.5% gain. Q2 2026 adjusted EPS beat estimates at $1.32, but shares fell due to weaker utility performance. Analysts expect 4.8% FY2026 EPS growth to $7.71. The consensus rating is 'Moderate Buy' with a mean price target of $159.03, a 15.1% premium to current price.

Michigan’s Public Service Commission, via Chair Dan Scripps’ July 16 letter to Gov. Gretchen Whitmer, urged lawmakers to end annual utility rate hikes and change how DTE Electric and Consumers Energy earn profits. It recommended multiyear performance-based rates, limits on capital bias, and changes to power-purchase bonuses and plant shutdown cost recovery, plus data center and virtual power plant rules. It cited $868M collected since 2019 and DTE/Consumers rate hikes of $242.4M/$276.6M plus lat

Utility Dive roundup covers US climate grants, state VPP and microgrid bills, and utility earnings and projects. It notes a divided appeals court blocked EPA efforts to reclaim $20B Greenhouse Gas Reduction Fund grants. It also cites Southern Co’s 17 GW large-load contracts, Eversource’s Q2 income drop, and PJM’s capacity backstop plan amid data-center demand.