DTE electric rates will stay unchanged until 2022
DTE Electric customers won't see their utility rates go up this year or next.
The Detroit-based energy company received approval Thursday from the Michigan Public Service Commission for a plan that will keep rates for energy unchanged until 2022. The stable electric rates are intended to aid customers in recovering from the recent COVID-19 lockdown.
The move comes after a 12-week moratorium on service interruptions in response to the COVID-19 pandemic.
“Today’s decision will allow DTE to continue to prioritize affordability for our customers as the communities we serve recover from the public health impacts and economic fallouts related to the pandemic,” said Trevor Lauer, president of the electric company at DTE Energy. “These approved plans will enable DTE to meet our commitment to clean, affordable renewable energy while, at the same time, keeping rates stable for our customers. By bringing new renewable energy projects online, our clean energy efforts will benefit the environment and aid in Michigan’s economic recovery.”
An additional 353 megawatts of wind and solar projects will come online by 2022. New solar projects in 2022 will triple DTE’s solar generation capacity.
By next year, 15% of DTE customer’s energy will be generated by renewable energy. Customers can opt for a greater percentage, up to 100%, through MiGreenPower, DTE’s voluntary renewable energy program.
Approval of a plan by the Michigan Public Service Commission has also led to the accelerated closing of the River Rouge coal plant, a retirement that was not scheduled to take place until 2022.
Since 2009, DTE has invested over $3 billion into renewable energy and expects to invest another $2 billion within the next four years.