Michigan Utility Regulators Approve $368M Rate Hike for DTE Energy Customers

The Michigan Public Service Commission has approved a $368 million electric rate increase for DTE Energy customers, which is about 60% of what the utility initially requested. The increase will cost the average residential customer about $6.51 more per month on their electricity bill. DTE argued that the impact to customers' bills will be offset by other recent cost savings realized by the company. The rate hike is aimed at improving grid reliability and reducing outages in the state. The approved rates will be effective from December 15 for DTE's 2.3 million electricity customers in southeast Michigan and the Thumb area.