CUB Statement on the DTE Integrated Resource Plan (IRP) Case Settlement
July 26, 2023
By Amy Bandyk
Executive Director
Citizens Utility Board (CUB) of Michigan
********************************
"DTE’s integrated resource plan shows that the company will support clean energy only if it can also saddle ratepayers with unnecessary profit for shareholders from coal plant retirements at the same time. The IRP settlement agreement that the MPSC is approving today includes a provision that allows DTE to charge its ratepayers for a 9% return for DTE shareholders on billions of dollars that make up the undepreciated book value of the Monroe coal-fired power plant, which will be retired. For 15 years, DTE’s customers will be paying off the Monroe coal plant plus the 9% return that represents pure profit for shareholders. DTE residential customers already pay some of the highest rates in the country for substandard service with frequent outages. It is obscene to pile this shareholder return on top of their already high bills.
It didn’t have to be this way. The clean energy progress that beneficial provisions of the IRP will achieve could have gone forward without the giveaway to shareholders. DTE could have planned to charge ratepayers for the undepreciated value of the Monroe coal plant over time, but without the 9% shareholder return.
Read moreCUB in the News: MPSC OKs higher compensation for residents after power outages
Michigan Advance
By Jon King
March 27, 2023
https://michiganadvance.com/blog/mpsc-oks-higher-compensation-for-residents-after-power-outages/
CUB in the News: Can Michigan’s troubled utilities handle the climate crisis?
Planet Detroit
By Brian Allnutt
March 23, 2023
https://planetdetroit.org/2023/03/can-michigans-troubled-utilities-handle-the-climate-crisis/?
CUB in the News: Michigan utilities will need to restore power faster under proposed state rules
MLive
By Sheri McWhirter
March 22, 2023
CUB in the News: DTE, Consumers Energy among worst utilities in US for blackout durations
Detroit Free Press
By Keith Matheny
March 22, 2023
CUB in the News: DTE Energy cut operations to meet profits months before power outages
Bridge Michigan
By Paula Gardner
March 10, 2023
https://www.bridgemi.com/business-watch/dte-energy-cut-operations-meet-profits-months-power-outages
CUB in the News: DTE is asking to hike electric rates again. What Michigan customers need to know.
Planet Detroit
By Sarah Alvarez
March 6, 2023
CUB in the News: Flashpoint: Power outage frustrations
WDIV Local 4 Detroit
Flashpoint
Devin Scillian, Anchor
March 5, 2023
CUB in the News: Can infrastructure upgrades, more utility regulation prevent future power outages?
WXYZ 7 Action News
By Kim Russell
March 1, 2023
CUB in the News: After the ice: Anger and a push for public utilities
Planet Detroit
By Brian Allnutt
March 1, 2023
https://planetdetroit.org/2023/03/after-the-ice-anger-and-a-push-for-public-utilities/