Dte Energy Company · NYSE:DTE
Dte Energy — Corporate Update (March 2024)
23 slides from Dte Energy's corporate update, Mar 5, 2024
Slide 1: Business Update
Business Update March 5, 2024
Slide 2: Safe harbor statement
Safe harbor statement 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 “anticipa
Slide 3: Highly engaged team committed to delivering best-in-class results for our customers, communities and investors
Highly engaged team committed to delivering best-in-class results for our customers, communities and investors Continuing best-in-class engagement, health and safety of our employees 95% of 5-year investment plan in utilities 2024 - 2028 ✓ Received Gallup Great Workplace Award for 11th consecutive y
Slide 4: Executing on over $50 billion, 10-year customer-focused capital investment plan while maintaining affordability
Executing on over $50 billion, 10-year customer-focused capital investment plan while maintaining affordability Investing in customer-focused initiatives… …while maintaining affordability ✓ Distinctive continuous improvement culture drives cost Modernizing electric grid management Preparing for impa
Slide 5: DTE Electric: transformational investments in distribution and generation
DTE Electric: transformational investments in distribution and generation Capital investment plan focused on building the grid of the future and transitioning to cleaner generation DTE Electric investment • DGP outlines detailed roadmap to increase reliability by over 60% over the next 5 years (bill
Slide 6: DTE Gas: replacing aging infrastructure to ensure reliability and transition to net zero emissions
DTE Gas: replacing aging infrastructure to ensure reliability and transition to net zero emissions DTE Gas investment (billions) Capital investment focused on infrastructure improvements and decarbonization $3.6 $3.7 • Significant investment recovered through Infrastructure Recovery Mechanism (IRM)
Slide 7: DTE Vantage: strategic focus on decarbonization solutions for customers
JN DTE Vantage: strategic focus on decarbonization solutions for customers Capitalizing on a growing preference for cleaner, more efficient energy • Strong development pipeline in RNG, large custom energy solutions and carbon capture and sequestration projects − Expanded long-term, fixed fee custom
Slide 8: Maintaining strong cash flows, balance sheet and credit profile
Maintaining strong cash flows, balance sheet and credit profile Strong balance sheet supports robust customer-focused investment agenda • Investment is primarily funded with consistent, healthy cash flows • Targeting minimal equity issuances of $0 - $100 million annually through 2026 • Effectively m
Slide 9: Appendix
Appendix 9
Slide 10: 2024 operating EPS guidance midpoint provides 7% growth over 2023 original guidance midpoint
2024 operating EPS1 guidance midpoint provides 7% growth over 2023 original guidance midpoint (millions, except EPS) 2023 2024 original guidance guidance DTE Electric $1,010 - $1,030 $1,100 - $1,120 DTE Gas 262 - 272 295 - 305 DTE Vantage 115 - 125 125 - 135 Energy Trading 20 - 30 30 - 40 Corporate
Slide 11: Cash flow and capital expenditures guidance
Cash flow and capital expenditures guidance Cash flow Capital expenditures (billions) (millions) 2024 2024 guidance guidance Cash from operations1 $3.3 DTE Electric Capital expenditures (4.7) Base infrastructure $630 Free cash flow ($1.4) New generation 1,200 Dividends (0.8) Distribution infrastruct
Slide 12: IRP outlines accelerated path to cleaner energy
IRP outlines accelerated path to cleaner energy First 5 years (2023 - 2027) Generation mix1 (MWh %) • Ceasing coal use at one Belle River unit in 2025 and remaining unit in 2026; converting to 1,300 MW natural gas peaking resource 1% 3% 2% • Adding 1,200 MW of solar 22% 17% 32% • Adding 350 MW of en
Slide 13: 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 • Investing over $
Slide 14: Energy policy drives Michigan's clean energy future and supports our cleaner energy journey
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 15: Progressing on EV initiatives
Progressing on EV initiatives Charging Forward Program 2019 • Promoting EV education, infrastructure and adoption program inception • Providing residential and commercial rebates, infrastructure support and fleet advisory services • Offering unique solutions such as home charger installation financi
Slide 16: MIGreenPower program continues significant growth
MIGreenPower program continues significant growth 1,650 • Allows customers to attribute up to 100% of electricity use to business customers renewable sources • Recognized by National Renewable Energy Laboratory as having the largest Green Tariff program in the country, fulfilling more load under con
Slide 17: Natural Gas Balance program empowers customers to manage their carbon footprint
Natural Gas Balance program empowers customers to manage their carbon footprint 2021 program inception • 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 1
Slide 18: Building on the momentum of the last decade, committed to Michigan investments and supplier diversity
Building on the momentum of the last decade, committed to Michigan investments and supplier diversity 2023 Michigan spend (millions) $2.7b invested in Michigan businesses in 2023 $890m invested with Detroit suppliers in 2023 $28 invested with suppliers owned by women, minorities, veterans, $990m mem
Slide 19: 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 ✓ $2.4 billion Gotion investment to
Slide 20: Committed to Diversity, Equity and Inclusion (DEI); creating a safe and welcoming environment
Committed to Diversity, Equity and Inclusion (DEI); creating a safe and welcoming environment Employee groups create an inclusive environment where differences Health and safety of our people is a priority are celebrated and a sense of belonging exists for all employees • Multiple safety committees
Slide 21: Governance framework provides shareholder rights and enables sustainable value creation
Governance framework provides shareholder rights and enables sustainable value creation Best-in-class governance practices Composition of DTE Board of Directors • Lead Independent Director 1 8 • All board committees are composed exclusively of independent Directors 33% 92% gender or • Stock ownershi
Slide 22: Executive management compensation plan is aligned with our stakeholder priorities
Executive management compensation plan is aligned with our stakeholder priorities Annual or long-term incentive metrics • Employee engagement Our team • Employee safety • Customer satisfaction Our customers • Customer complaints • System reliability • Customer satisfaction Our communities • Customer
Slide 23: Reconciliation of reported to operating earnings (non-GAAP)
Reconciliation of reported to operating earnings (non-GAAP) 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 representati