DETROIT DTE Energy announced Thursday that electric rates will remain unchanged until 2022 amid the coronavirus (COVID-19) pandemic.
The Michigan Public Service Commission (MSPC) approved a regulatory plan on Thursday that will maintain current electric rates for DTE customers.
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.The news comes after the MSPC previously approved a $188.3 million rate increase for DTE -- a 4.7 percent rate increase for DTE customers -- in early May.
DTE is Michigans largest renewable energy producer and, when these projects are complete, the company will generate enough clean energy to power 620,000 homes.Officials say the company will invest an addition $2 billion in renewable energy assets over the next four years.
Consumers Energy also requested a rate increase of $244 million just ahead of the pandemic in February, which would result in a 14 percent increase for customers.