Dte Energy Company · NYSE:DTE
Dte Energy — AGA Financial Forum 2024
25 slides from Dte Energy's conference presentation, May 17, 2024
Slide 1: AGA Financial Forum May 19-21, 2024
AGA Financial Forum May 19 - 21, 2024 EXHIBIT 99.1
Slide 2: Safe harbor statement
Safe harbor statement 2 The information contained herein is as of the date of this document. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information or future events or developments. Words such as “antici
Slide 3: Continuing best-in-class engagement, health and safety of our employees
3 Continuing best-in-class engagement, health and safety of our employees ✓ Received Gallup Great Workplace Award for 12th consecutive year ✓ 2024 Best Employers award for excellence in health and well-being Addressing our customers’ most vital needs ✓ DTE Gas celebrates 175 years of delivering natu
Slide 4: Executing customer-focused capital investment plan while maintaining affordability
Modernizing electric grid Preparing for impacts of increased extreme weather events and increased demand from vehicle electrification Transitioning to cleaner generation Shifting generation from coal to renewables supported by cleaner natural gas and storage Executing customer-focused capital invest
Slide 5: Rate case underpins next step in grid reliability and cleaner generation investment
Rate case underpins next step in our $9 billion grid reliability and $7 billion cleaner generation investment commitment while maintaining affordability 5 Committed to improve reliability… • Creating a more reliable grid over the next five years, reducing power outages by 30% and cutting outage time
Slide 6: DTE Electric: transformational investments in distribution and generation
DTE Electric: transformational investments in distribution and generation 6 $4 $4 $9 $9 $5 $7 2023 - 2027 prior plan 2024 - 2028 current plan Base infrastructure Cleaner generation $18 DTE Electric investment (billions) $20 Distribution infrastructure 1. Definition of net zero included in the append
Slide 7: DTE Gas: replacing aging infrastructure to ensure reliability and transition to net zero
DTE Gas: replacing aging infrastructure to ensure reliability and transition to net zero emissions 7 Gas renewal program Base infrastructure $1.6 $1.6 $2.0 $2.1 2023 - 2027 prior plan 2024 - 2028 current plan $3.6 $3.7 DTE Gas investment (billions) Continuing main renewal to improve system reliabili
Slide 8: DTE Vantage: strategic focus on decarbonization solutions for customers
DTE Vantage: strategic focus on decarbonization solutions for customers 1. Renewables includes wood and landfill gas facilities 2. Refer to the appendix for information regarding the reconciliation of operating earnings (non-GAAP) to reported earnings 8 Opportunities and strong project pipeline in 2
Slide 9: Maintaining strong cash flows, balance sheet and credit profile
Maintaining strong cash flows, balance sheet and credit profile 9 Credit ratings S&P Moody’s Fitch DTE Energy (unsecured) BBB Baa2 BBB DTE Electric (secured) A Aa3 A+ DTE Gas (secured) A A1 A Strong balance sheet supports robust customer-focused investment agenda • Customer-focused capital investmen
Slide 10: Appendix
10 Appendix
Slide 11: 2024 operating EPS guidance midpoint provides 7% growth over 2023
2024 operating EPS1 guidance midpoint provides 7% growth over 2023 original guidance midpoint 11 (millions, except EPS) 2024 guidance DTE Electric $1,100 - $1,120 DTE Gas 295 - 305 DTE Vantage 125 - 135 Energy Trading 30 - 40 Corporate & Other (195) - (185) DTE Energy $1,355 - $1,415 Operating EPS $
Slide 12: Cash flow and capital expenditures guidance
2024 guidance DTE Electric Base infrastructure $630 New generation 1,200 Distribution infrastructure 1,550 $3,380 DTE Gas Base infrastructure $380 Gas renewal program 335 $715 Non-utility $550 - $650 Total $4,645 - $4,745 2024 guidance Cash from operations1 $3.3 Capital expenditures (4.7) Free cash
Slide 13: ESG efforts are key priorities; aspiring to be the best in the industry
Environmental, social and governance (ESG) efforts are key priorities; aspiring to be the best in the industry Environment • Transitioning towards net zero emissions at both utilities • Accelerating transition to cleaner generation • Protecting our natural resources Social • Focusing on the diversit
Slide 14: IRP outlines accelerated path to cleaner energy
IRP outlines accelerated path to cleaner energy 77% 31% 15% 17% 19% 20% 18% 12% 2% 24% 27% 34% 20% 3% 4% 6% 6% 6% 1% 22% 32% 42% 62% 2005 2027 2029 2033 2042 Coal Nuclear Natural gas RenewablesStorage Generation mix1 (MWh %) First 5 years (2023 - 2027) • Ceasing coal use at one Belle River unit in 2
Slide 15: IRP supports transition to cleaner energy future while focusing on reliability and affordability
IRP supports transition to cleaner energy future while focusing on reliability and affordability Accelerating path to cleaner generation… …while continuing to focus on customer affordability and economic development • Transforming generation by targeting carbon emission reductions of 85% in 2032, 90
Slide 16: Energy policy drives Michigan's clean energy future
Energy policy drives Michigan’s clean energy future and supports our cleaner energy journey • Accelerates the pace of decarbonization and deployment of renewables − Renewable compliance standard of 50% by 2030 and 60% by 2035 − Clean energy standard of 80% by 2035 and 100% by 2040 − Allows MPSC to a
Slide 17: Progressing on EV initiatives
Progressing on EV initiatives Charging Forward Program • Promoting EV education, infrastructure and adoption • Providing residential and commercial rebates, infrastructure support and fleet advisory services • Offering unique solutions such as EV rebates for low and moderate income customers Program
Slide 18: MIGreenPower program continues significant growth
MIGreenPower program continues significant growth 1,830 business customers 99,400 residential customers 2,440 MW subscribed • Allows customers to attribute up to 100% of electricity use to renewable sources • Recognized by National Renewable Energy Laboratory as having the largest Green Tariff progr
Slide 19: Natural Gas Balance program empowers customers to manage their carbon footprint
Natural Gas Balance program empowers customers to manage their carbon footprint • Offering an affordable way to balance 25% to 100% of customers’ GHG emissions • RNG will be sourced by transforming landfill emissions and wastewater treatment plant by-products into usable gas • Carbon offset program
Slide 20: Committed to Michigan investments and supplier diversity
$2.7b invested with Michigan businesses in 2023 $890m invested with Detroit suppliers in 2023 $990m invested with suppliers owned by women, minorities, veterans, members of the LGBTQ+ community and disability-owned businesses in 2023 60+ supplier diversity awards earned since 2018 77,000 jobs create
Slide 21: Economic development fuels Michigan's growth
Economic development fuels Michigan’s growth ✓ Michigan ranked in the top 10 by CNBC for America’s Top States for Business in 2023 ✓ $4 billion General Motors investment to convert an assembly plant to produce full-size electric pickup trucks, creating 2,300 jobs ✓ $1.7 billion LG Energy Solution in
Slide 22: Committed to Diversity, Equity and Inclusion; creating a safe and welcoming environment
Committed to Diversity, Equity and Inclusion (DEI); creating a safe and welcoming environment Health and safety of our people is a priority • Multiple safety committees spanning all levels of the company providing input into safety plans, addressing unique challenges of each business unit • Earned A
Slide 23: Governance framework provides shareholder rights and enables sustainable value creation
9.5 years average tenure 4 - 7 8 - 11 >11 Governance framework provides shareholder rights and enables sustainable value creation Best-in-class governance practices • Lead Independent Director • All board committees are composed exclusively of independent Directors • Stock ownership guidelines for n
Slide 24: Executive compensation aligned with stakeholder priorities
Annual or long-term incentive metrics Our team • Employee engagement • Employee safety Our customers • Customer satisfaction • System reliability Our communities • Customer satisfaction • System reliability Our investors • EPS • Cash flow • Relative total shareholder return Executive management comp
Slide 25: Reconciliation of reported to operating earnings (non-GAAP)
Reconciliation of reported to operating earnings (non-GAAP) 25 Use of Operating Earnings Information – Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. DTE Energy management believes that operating earnings provide a meaningful represent