Dte Energy Company · NYSE:DTE
Dte Energy — Corporate Update (October 2024)
25 slides from Dte Energy's corporate update, Oct 2, 2024
Slide 1: Business Update
Business Update October 2, 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 stakeholders
Highly engaged team committed to delivering best-in-class results for our stakeholders 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 Address
Slide 4: Executing customer-focused capital investment plan while maintaining affordability
Executing customer-focused capital investment plan while maintaining affordability Investing in reliability and cleaner generation 5-year investment plan (2024 – 2028) • Modernizing electric grid: preparing for impacts of increased extreme weather Investing 95% in utilities (billions) events and inc
Slide 5: DTE Electric: transformational investments in distribution and generation
DTE Electric: transformational investments in distribution and generation Achieving success in cleaner generation and reliability in 2024 • Initiated construction of 220-megawatt battery energy storage center at site of former Trenton Channel power plant; expected to be operational in 2026, will be
Slide 6: Rate case underpins next step in our $9 billion grid reliability and $7 billion cleaner generation investment
Rate case underpins next step in our $9 billion grid reliability and $7 billion cleaner generation investment commitment while maintaining affordability Committed to improve reliability… …while transitioning to cleaner generation and keeping bill • Creating a more reliable grid over the next five ye
Slide 7: 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 Continuing main renewal to improve system reliability in 2024 DTE Gas investment (billions) • Modernizing gas transmission system through continuation of main renewal program • Filed rate case in Janua
Slide 8: DTE Vantage: strategic focus on decarbonization solutions for customers
DTE Vantage: strategic focus on decarbonization solutions for customers Advancing project development and growth in 2024 • Placing an RNG and a large custom energy solutions project into commercial operation in 2024 Capitalizing on a growing preference for cleaner, more efficient energy • Strong dev
Slide 9: 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 • Customer-focused capital investment plan is supported by consistent, healthy cash flows • Targeting minimal equity issuances of $0 - $100 million annually through
Slide 10: Appendix
Appendix 10
Slide 11: 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) 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 $6.5
Slide 12: 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 13: Environmental, social and governance (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 Award-winning commitment to ESG priorities • Transitioning towards net zero emissions at both utilities • Accelerating transition to cleaner generation • Protecting our natural
Slide 14: 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 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 • Investing over $
Slide 16: 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 17: 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 EV rebates for low and moderate i
Slide 18: MIGreenPower program continues significant growth
MIGreenPower program continues significant growth ~1,900 • 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 co
Slide 19: 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 • Affordable way to address up to 100% of carbon emissions from natural gas usage in heating, water heaters, cooking and other home uses without adjusting a customer’s energy use or making changes
Slide 20: 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 with Michigan businesses in 2023 $890m invested with Detroit suppliers in 2023 $28 invested with suppliers owned by women, minorities, veterans, $990m m
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 2024 ✓ $4 billion General Motors investment to convert an assembly plant to produce full-size electric pickup trucks, creating 2,300 jobs ✓ $3 billion Henry Ford Health, Detr
Slide 22: 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 23: 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 24: 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 • System reliability • Customer satisfaction Our communities • System reliability • EPS Our i
Slide 25: 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