Michigan’s Big Electric, Gas Monopoly Hikes Rates, Rakes In Billions

DTE Energy is a regulated monopoly that provides electricity to 2.2 million customers in southeastern Michigan and gas to 1.2 million customers around the state. The company is also a major player in the expansion of industrial wind turbine sites in rural counties.
In 2012, DTE posted net profits of $666 million, an amount that rose to $866 million in 2016. From 2012 to 2016, the company posted $3.8 billion in cumulative profits. Despite these earnings, the company imposed a $245 million rate increase in 2016, which state regulators later dialed back to $184.3 million.