(DTW) DTE Energy Pref Series E - Ratings and Ratios

DTE Energy Company operates as a diversified energy company engaged in utility operations, with a focus on electricity and natural gas delivery. Its Electric segment serves approximately 2.2 million customers in southeastern Michigan, generating electricity through a mix of fossil-fuel, hydroelectric pumped storage, nuclear, wind, and other renewable assets. The segment operates 692 distribution substations and 440,500 line transformers. The Gas segment provides natural gas to 1.3 million customers, managing 19,500 miles of distribution mains, 1,216,000 service pipelines, and 1,262,000 active meters, alongside 2,000 miles of transmission pipelines. The Gas Storage and Pipelines segment owns storage fields, gathering systems, and compression facilities, with stakes in interstate pipelines serving the Midwest, Ontario, and Northeast markets. The Power and Industrial Projects segment supplies metallurgical coke, pulverized coal, and petroleum coke to industrial customers, while also producing power, steam, and chilled water, and offering wastewater treatment and compressed air services. This segment includes 5 renewable generating plants with 217 MW capacity, 21 landfill gas recovery sites, and 11 reduced emissions fuel facilities. The Energy Trading segment focuses on power and gas marketing, structured transactions, and optimization of natural gas pipeline and storage positions. DTE Energy, founded in 1903, is headquartered in Detroit, Michigan.

The company’s operational scale is supported by significant infrastructure, including its renewable energy portfolio, which aligns with broader industry trends toward decarbonization. Its diversified business model, spanning electric and gas utilities, storage, and industrial projects, positions it to balance regulatory and market risks. The integration of renewable assets and energy trading capabilities underscores its strategic approach to navigating the energy transition while maintaining reliability and cost efficiency for its customer base.