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DTE ENERGY (DTE)

DTE Energy is a diversified energy company headquartered in Detroit, specializing in the development and management of energy-related businesses and services across the United States . The company operates through several key segments, including DTE Electric and DTE Gas, which are public utilities providing electricity and natural gas to millions of customers in Michigan . Additionally, DTE Energy engages in non-utility operations through DTE Vantage, focusing on renewable natural gas projects and custom energy solutions, and Energy Trading, which involves energy marketing and trading activities .

  1. DTE Electric - Generates, purchases, distributes, and sells electricity to approximately 2.3 million customers in southeastern Michigan.
  2. Energy Trading - Engages in energy marketing and trading operations, contributing significantly to the company's non-utility revenue.
  3. DTE Gas - Purchases, stores, transports, distributes, and sells natural gas to about 1.3 million customers throughout Michigan.
  4. DTE Vantage - Focuses on renewable natural gas projects and provides custom energy solutions to industrial, commercial, and institutional customers.

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NamePositionExternal RolesShort Bio

Gerardo Norcia

ExecutiveBoard

Chairman and CEO

None

Gerardo Norcia has been with DTE since 2002, holding various leadership roles. He became CEO in 2019 and Chairman in 2022.

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David Ruud

Executive

Executive Vice President and CFO

None

David Ruud is the CFO of DTE Energy and DTE Electric. No additional details about his tenure or achievements are provided.

Diane M. Antishin

Executive

SVP - Human Resources and Chief Diversity and Inclusion Officer

None

Diane Antishin oversees HR and diversity initiatives at DTE. No additional details about her tenure or achievements are provided.

JoAnn Chavez

Executive

Senior Vice President and Chief Legal Officer

None

JoAnn Chavez has been with DTE for over five years and became Chief Legal Officer in 2019.

Mark W. Stiers

Executive

President and COO, DTE Vantage and Energy Trading

None

Mark Stiers has been President and COO of DTE Vantage and Energy Trading since 2019.

Trevor F. Lauer

Executive

Vice Chairman and Group President

None

Trevor Lauer has been with DTE for over five years, previously serving as President and COO of DTE Electric.

Casey Santos

Board

Independent Director

CTO at Caliber; Board Chair of Nashville Technology Council

Former CIO at Asurion. Appointed to DTE's board in 2025.

Charles G. McClure

Board

Independent Director

Managing Partner at Michigan Capital Advisors; Board Member at Crane Co. and 3D Systems Inc.

Former CEO of Meritor, Inc. and Federal-Mogul Corporation. Has been a DTE director since 2012.

David A. Brandon

Board

Independent Director

Executive Chairman of Domino’s Pizza, Inc.; Board Member at MillerKnoll, Inc.

Former CEO of Domino’s Pizza and Toys “R” Us. Has been a DTE director since 2010.

David A. Thomas

Board

Independent Director

President of Morehouse College; Board Member at Vanguard Family of Funds

President of Morehouse College since 2018. Has been a DTE director since 2013.

Deborah L. Byers

Board

Independent Director

Board Member at Civitas Resources, Excelerate Energy, and Kinetik Inc.; Senior Advisor at Veriten

Former Americas Industry Leader at Ernst & Young LLP. Joined DTE's board in 2023.

Gail J. McGovern

Board

Independent Director

President and CEO of the American Red Cross; Board Member at PayPal Holdings, Inc.

President and CEO of the American Red Cross since 2008. Has been a DTE director since 2003.

Gary Torgow

Board

Independent Director

Chairman of The Huntington National Bank; Board Member at Huntington Bancshares Incorporated

Former Executive Chairman of TCF Financial Corporation. Has been a DTE director since 2019.

Mark A. Murray

Board

Independent Director

Board Member at Fidelity Fixed Income and Asset Allocation

Former President of Meijer, Inc. and Grand Valley State University. Has been a DTE director since 2009.

Nicholas K. Akins

Board

Independent Director

Chairman of Fifth Third Bancorp; Chairman of OhioHealth

Retired CEO of American Electric Power (AEP). Joined DTE's board in 2023.

Robert C. Skaggs

Board

Independent Director

Board Member at DT Midstream, Inc.

Former CEO of NiSource, Inc. and Columbia Pipeline Group. Has been a DTE director since 2017.

  1. Given the significant capital investments required for grid reliability and clean generation, how confident are you that the Michigan Public Service Commission will approve your requested rate increases and the expansion of the infrastructure recovery mechanism, especially considering the emphasis on maintaining customer affordability?

  2. The independent audit confirmed your proposed investment plan to reduce power outages by 30% and cut outage time in half by 2029; however, were there any critical findings or recommendations that might necessitate adjustments to your strategy or additional investments beyond what you've planned?

  3. With the projected average annual residential bill growth of just over 1% from 2021 through 2025 despite substantial capital expenditures, how sustainable is this rate of bill increase in the long term, and do you foresee any potential for higher rate pressures on customers beyond 2025?

  4. Regarding the potential need to design tailored tariffs for new large loads to prevent stranded asset risks, what specific strategies are you considering to ensure that these new customers contribute appropriately to infrastructure costs without adversely impacting existing customers' rates?

  5. In your Vantage segment focusing on renewable natural gas and carbon capture solutions, can you elaborate on the profitability outlook and any significant risks or challenges you anticipate, particularly in advancing these projects amid evolving regulatory policies and technological developments?

YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
20243,200Long-Term Debt (Current)N/A13.5% = (3,200 / 23,659) * 100
2024966Short-Term BorrowingsN/A4.1% = (966 / 23,659) * 100
2026500Mortgage Bonds4.852.1% = (500 / 23,659) * 100
20271,200Senior Notes4.955.1% = (1,200 / 23,659) * 100
20291,200Senior Notes5.105.1% = (1,200 / 23,659) * 100
2034500Mortgage Bonds5.202.1% = (500 / 23,659) * 100
2034850Senior Notes5.853.6% = (850 / 23,659) * 100
2034160First Mortgage Bonds4.870.7% = (160 / 23,659) * 100
2054160First Mortgage Bonds5.430.7% = (160 / 23,659) * 100
NameStart DateEnd DateReason for Change
PricewaterhouseCoopers LLP2008PresentCurrent auditor

Recent press releases and 8-K filings for DTE.

DTE Energy issues $600M 6.25% junior subordinated debentures due 2085
·$DTE
Debt Issuance
  • On September 17, 2025, DTE Energy Company completed the sale of $600 million aggregate principal amount of its 2025 Series H 6.25% Junior Subordinated Debentures due 2085.
  • The Debentures were registered under the Securities Act via the shelf registration on Form S-3 (File No. 333-286383) and issued under the Amended and Restated Indenture dated April 9, 2001, as supplemented by a Supplemental Indenture dated September 15, 2025.
  • The Supplemental Indenture establishes a stated maturity of October 1, 2085, a 6.25% annual coupon, subordinated ranking to Senior Indebtedness, and optional redemption at par from October 1, 2030.
  • Filed exhibits include the Supplemental Indenture (Exhibit 4.1), DTE’s legal opinion and consent from Senior VP & CLO Kathrine Lorenz (Exhibit 5.1), and Hunton Andrews Kurth LLP’s U.S. federal tax opinion (Exhibit 8.1).
Sep 17, 2025, 8:17 PM
DTE Energy Leadership Transition & Compensation Update
·$DTE
CEO Change
Board Change
Management Change
CFO Change
Executive Compensation
  • DTE’s Board unanimously elects Joi Harris as President and CEO effective September 8, 2025, succeeding Jerry Norcia, who will transition to Executive Chairman.
  • Harris’s annual base salary will rise to $1,200,000, with incentive targets of 125% (annual) and 500% (long-term), plus $1,000,000 in restricted shares vesting after three years; meanwhile, Norcia’s salary will decrease to $900,000 (and to $750,000 in 2027) with lower incentive percentages.
  • David Ruud, current Executive Vice President and CFO, is appointed Vice Chairman and Chief Financial Officer effective September 8, 2025.
  • Harris brings a 34-year track record at DTE and, as President and COO, oversaw a 70% improvement in electric reliability in 2024.
  • Norcia, CEO since 2019 and Board Chairman since 2022, will continue serving as Executive Chairman and advisor, maintaining roles on community boards including Henry Ford Health and Business Leaders for Michigan.
  • DTE Energy serves 2.3 million electric and 1.3 million gas customers in Michigan while operating diversified energy businesses nationwide.
Jun 23, 2025, 8:30 PM
DTE Energy Announces Q1 2025 Investor and Operational Update
·$DTE
Guidance Update
New Projects/Investments
  • Investor Meeting Update: DTE Energy will meet with investors from May 18-20, 2025, and the related presentation is available on its website as of May 16, 2025.
  • Earnings Guidance: The filing outlines revised 2025 operating EPS guidance with a 7% growth over 2024 and a long-term target of 6%-8% operating EPS growth through 2029.
  • Capital and Operational Investments: The company is advancing projects to enhance grid reliability, expand renewable energy capacity, and maintain robust cash flows and strong credit ratings.
May 16, 2025, 12:00 AM
DTE Energy Q1 2025 Financial & Operational Highlights
·$DTE
Earnings
New Projects/Investments
  • DTE Energy reported Q1 2025 earnings of $445 million (EPS of $2.14) and operating earnings of $436 million (EPS of $2.10), marking significant improvement .
  • The company delivered strong operational performance with a net income of $205 million and net cash provided from operations of $405 million in Q1 2025 .
  • In Q1 2025, unaudited financials showed total assets of $8,679 million and shareholder equity of $3,141 million as of March 31, 2025 .
  • Disaggregated gas operating revenues reached $868 million, driven by robust gas sales and transportation services .
  • DTE Energy invested over $850 million in Q1 2025 and is on track to invest $4.4 billion in 2025 to enhance grid reliability, renewable generation, and natural gas services .
  • Key milestones include launching Michigan’s largest battery energy storage system and awarding energy efficiency grants to small businesses .
May 2, 2025, 12:00 AM