DTE Energy reduces customers' bills by passing on $300 million savings in fuel and transportation costs
November 17 2023 - 9:00AM
DETROIT, November 17, 2023 — DTE Energy’s customers will
soon see a decrease in their electric bills. DTE will be reducing
the Power Supply Cost Recovery mechanism (PSCR), which represents
the actual cost of the fuel and other sources the company uses to
produce electricity, by approximately $300 million annually. This
reduction will go into effect December 1 and will reduce average
electric bills for residential customers by approximately $5 per
month*.
“This is good news for our customers,” said Matt Paul, president
and chief operating officer, DTE Electric. “We strive to provide
our customers with safe, reliable and affordable energy, and this
operating savings will give them some relief on their bills.”
The PSCR line item on customers’ bills reflects a portion of the
costs of the fuel and other sources DTE uses to produce, purchase
and transport electricity, which are beginning to stabilize.
DTE reviews PSCR annually and adjusts customer bills to
reflect these costs accordingly - customers pay what the company
pays. When these costs decrease (or increase), DTE passes this on
to its customers.
This reduction will automatically post to customer bills
beginning December 1, 2023.
Earlier this year, DTE Energy filed a request with the MPSC to
raise rates in order to continue investing to improve electric
reliability and to support the transition toward cleaner energy for
its 2.3 million electric customers – a decision on this request is
expected by Dec 10, 2023.
DTE is leading the way in energy savings for customers,
having recently been named a Top Five energy company in the nation
for energy efficiency savings by the American Council for an
Energy-Efficient Economy (ACEEE).
DTE offers over 20 energy efficiency programs, rebates and
offerings to residential and business customers and encourages
customers to save even more energy and money by following these
winter energy efficiency tips and information at
dteenergy.com/heatingseason:
- Setting your thermostat to 68° Fahrenheit during winter months
and turning it down a few degrees while asleep can help you save up
to 10% annually on energy costs.
- Keep your furnace working at peak efficiency by regularly
changing the air filters, cleaning the vents and getting routine
tune-ups. If it’s older, consider a modern, high-efficiency model
and save with rebates.
- You can save up to 10% on your annual energy bills by sealing
air leaks and adding insulation. Install caulking and
weatherstripping around doors and windows. Allow warm sunlight in
south-facing windows during the day and cover them at night to
reduce drafts.
- LED light bulbs are more efficient, durable and last up to 15
times longer than incandescent bulbs. They also use up to 90% less
energy while providing the same amount of light.
About DTE Energy
DTE Energy (NYSE:DTE) is a Detroit-based diversified energy
Company involved in the development and management of
energy-related businesses and services nationwide. Its operating
units include an electric Company serving 2.3 million customers in
Southeast Michigan and a natural gas Company serving 1.3 million
customers in Michigan. The DTE portfolio includes energy businesses
focused on custom energy solutions, renewable energy generation and
energy marketing and trading. Through our commitment to cleaner
energy, DTE Electric plans to reduce CO2 emissions by 90% and DTE
Gas will plan to reduce methane emissions 80% by 2040 to produce
cleaner energy while keeping it safe, reliable and affordable. DTE
Electric and Gas aspire to achieve net zero carbon emissions by
2050. DTE is committed to serving with its energy through
volunteerism, education and employment initiatives, philanthropy
and economic progress. Information about DTE is available at
dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and
facebook.com/dteenergy.
Pete Ternes
DTE Energy
3132355555
kayla.chriss@dteenergy.com
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