FOR IMMEDIATE RELEASE
May 12, 2020
Contact: Bridget Vial, 313-720-4330, [email protected]
Community Advocacy Impacted Public Service Commission Ruling on DTE
DETROIT - Last week, the Public Service Commission – the 3-member, governor-appointed Commission which regulates utilities – approved a 4.6% rate increase for DTE Energy in the midst of a pandemic and the worst economic crisis since the Great Depression.
There’s good news, however. Facing mounting pressure from advocates, the Public Service Commission took DTE to task for a number of outrageous budget items, nixing hundreds of millions of dollars requested for bloated executive compensation, and unjustified spending on fossil fuel plants and IT infrastructure. Most notably, the commission ruled to reduce DTE’s return on equity from 10% to 9.9%, flaunting DTE’s request for an increase in profits.Read more