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DTE Energy posts fall in fourth-quarter profit on lower rates
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DTE Energy posts fall in fourth-quarter profit on lower rates
Feb 13, 2025 5:00 AM

Feb 13 (Reuters) - DTE Energy ( DTE ) reported a fall in

fourth-quarter profit on Thursday, as the utility took a hit

from lower pricing for electricity.

Regulated utilities use rate-case proceedings to determine

the amount customers need to pay for electricity and natural

gas. DTE had filed one such rate case to help reduce the cost of

producing electricity.

The utility said it saved about $300 million in fuel and

transportation costs after the rate case came into effect in

November, but it also reduced the electricity rates for

residential customers by roughly $5 a month.

DTE provides electricity to 2.3 million customers in

Southeast Michigan and natural gas to 1.3 million customers in

Michigan.

At the company's electric segment - its largest by income

-operating earnings fell to $195 million during the

October-December quarter from $244 million a year earlier.

Meanwhile, operating earnings from its natural gas segment

remained flat year-over-year.

DTE said it expects 2025 operating earnings to be in the

range of $7.09 to $7.23 per share, the midpoint of which is

below analysts' estimate of $7.20 according to data compiled by

LSEG.

The utility's net income fell to $292 million, or $1.41 per

share, for the quarter ended December 31, from $419 million, or

$2.02 per share, a year earlier.

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