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Share Name | Share Symbol | Market | Type |
---|---|---|---|
DTE Energy Company | NYSE:DTE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.84 | 0.75% | 112.75 | 112.85 | 111.445 | 112.55 | 1,020,972 | 01:00:00 |
DETROIT, March 28, 2019 /PRNewswire/ -- DTE Energy today announced a bold new goal to reduce carbon emissions 80 percent by 2040 – accelerating by a full decade the carbon reduction commitment it made to Michigan residents and businesses just two years ago. In the company's Integrated Resource Plan (IRP) being submitted to the Michigan Public Service Commission on Friday, DTE outlines the steps it will take over the next five years, and beyond, to transform to a cleaner generation mix – adding more renewables, increasing energy efficiency for its customers above state requirements and retiring coal plants sooner than previously announced. DTE also announced it will reduce carbon emissions at least 50 percent by 2030, surpassing its previous carbon reduction commitment of 45 percent by that timeframe.
"In Michigan, we are in the midst of a fundamental energy transformation. Two years ago, we were one of the first energy companies in the country to commit to reducing carbon emissions 80 percent by 2050. Our plan has evolved, and we now are accelerating that goal by a decade," said Gerry Anderson, DTE Energy chairman and CEO. "Achieving these goals will require significant investments in the years ahead – and we are convinced we can make those investments while ensuring that electricity remains highly reliable and affordable for Michigan homes and businesses."
The 2016 energy law passed by the Michigan Legislature requires energy companies in the state to file an Integrated Resource Plan every five years. The IRP provides a comprehensive road map for meeting customers' energy and capacity needs.
DTE's plan includes:
The plan DTE is submitting today focuses most heavily on the next five years and considers the most affordable and reliable mix of generation sources that are currently available. Longer-term, DTE will continue to evaluate and refine future options to meet its carbon emissions commitment as technology develops and costs decline.
With this plan, DTE's average annual carbon emissions will drop by 400,000 tons in 2020 and 2021. In 2022, when Trenton Channel, St. Clair and the River Rouge power plants retire, DTE's annual carbon emissions will be reduced by an additional 7.5 million tons. That's the greenhouse gas emissions equivalent of nearly 1.6 million passenger vehicles driven for a year. 1
"As we developed this plan, we reached out into the community and listened to our customers' inputs and feedback," Anderson said. "Our customers care about climate change and want to make sure we are doing everything we can to transition to cleaner energy. All of our customers want us to ensure high reliability as we transition – and we know we need to keep energy affordable for Michigan's homes and businesses as we evolve as well."
For more information about the Integrated Resource Plan and DTE's journey to 80 percent carbon reduction by 2040, visit www.journeyto80.com
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 2.2 million customers in Southeastern Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on natural gas pipelines, gathering and storage, power and industrial projects, renewable natural gas, and energy marketing and trading. As an environmental leader, DTE will reduce carbon dioxide and methane emissions by more than 80 percent to produce cleaner energy while keeping it safe, reliable and affordable. DTE is committed to being a force for good in the communities where it serves 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.
1 EPA Greenhouse Gas Equivalencies Calculator
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SOURCE DTE Energy
Copyright 2019 PR Newswire
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