Fact Sheet/Backgrounder
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Company Name:
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DTE Energy Co. (NYSE:DTE)
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Corporate Headquarters:
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One Energy Plaza
Detroit, Michigan 48226
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Chief Executive Officer:
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Anthony F. Earley Jr.
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Employees:
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10,471
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Financial Information: 2008 Annual Report data
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Revenue
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$9.3 billion
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Net Income
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$546 million
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Assets
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$24.6 billion
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Diluted Earnings per Share
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$3.36
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Corporate Governance:
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Anthony Earley (Chairman) |
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Executive Committee:
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Anthony F. Earley Jr.
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Chairman and Chief Executive Officer
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Gerard M. Anderson
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President and Chief Operating Officer
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Steven E. Kurmas
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President and Chief Operating Officer, Detroit Edison
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| Jerry Norcia | President and Chief Operating Officer, MichCon |
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Lynne Ellyn
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Senior Vice President and Chief Information Officer
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Paul Hillegonds
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Senior Vice President, Corporate Affairs
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Ron A. May
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Senior Vice President, Major Enterprise Projects
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David E. Meador
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Executive Vice President and Chief Financial Officer
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| Peter Oleksiak | Vice President & Controller |
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Bruce Peterson
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Senior Vice President, General Counsel
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Larry Steward
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Vice President, Human Resources
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Sandy Ennis
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Corporate Secretary, Chief of Staff
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DTE Energy (NYSE: DTE) is a Detroit-based, diversified energy company involved in the development and management of energy-related businesses and services nationwide.
Built on a strong utility base, DTE Energy's largest operating subsidiaries are Detroit Edison, an electric utility serving 2.2 million customers in Southeastern Michigan, and Michigan Consolidated Gas Co. (MichCon), a natural gas utility serving 1.2 million customers in Michigan.
DTE Energy has more than 10,400 employees in utility and non-utility subsidiaries involved in a wide range of energy-related businesses. The company's growing non-utility businesses are built around the strengths, skills and assets of DTE Energy's electric and gas utilities.
Our Utility Business Units
Detroit Edison
Detroit Edison is an electric utility that generates, distributes and sells electricity to 2.2 million customers in Southeastern Michigan. Founded in 1903, it is the largest electric utility in Michigan and one of the largest electric utilities in the country. Detroit Edison has a 7,600-square-mile service area, which encompasses about 1 million utility poles and 44,000 miles of power lines. The utility operates nine fossil-fuel generating plants, as well as the Fermi 2 nuclear power plant. The company also co-owns with Consumers Energy a hydroelectric pumped storage facility in Ludington, Mich. Detroit Edison's system capacity is approximately 11,094 megawatts. The company uses coal to generate about 70 percent of its total electrical output, with the remainder produced from nuclear fuel, natural gas, oil, renewable sources and hydroelectric pumped storage.
Detroit Edison is an electric utility that generates, distributes and sells electricity to 2.2 million customers in Southeastern Michigan. Founded in 1903, it is the largest electric utility in Michigan and one of the largest electric utilities in the country. Detroit Edison has a 7,600-square-mile service area, which encompasses about 1 million utility poles and 44,000 miles of power lines. The utility operates nine fossil-fuel generating plants, as well as the Fermi 2 nuclear power plant. The company also co-owns with Consumers Energy a hydroelectric pumped storage facility in Ludington, Mich. Detroit Edison's system capacity is approximately 11,094 megawatts. The company uses coal to generate about 70 percent of its total electrical output, with the remainder produced from nuclear fuel, natural gas, oil, renewable sources and hydroelectric pumped storage.
MichCon
MichCon is one of the nation's largest natural gas utilities. It is engaged in the purchase, storage, transmission, distribution and sale of natural gas to approximately 1.2 million customers in Michigan. Founded in 1849, MichCon safely delivers natural gas to families and businesses in a 14,700-mile service area. In addition to relying on Michigan's abundant supply of natural gas, MichCon uses its pipelines to link customers to energy sources in Texas, Oklahoma, Louisiana, The Rockies, the Gulf of Mexico and Western Canada. Because of Michigan's unique geology, MichCon is able to store up to 132 billion cubic feet of gas in naturally occurring, underground rock formations. This storage capability assures MichCon customers a reliable gas supply at a competitive price.
MichCon is one of the nation's largest natural gas utilities. It is engaged in the purchase, storage, transmission, distribution and sale of natural gas to approximately 1.2 million customers in Michigan. Founded in 1849, MichCon safely delivers natural gas to families and businesses in a 14,700-mile service area. In addition to relying on Michigan's abundant supply of natural gas, MichCon uses its pipelines to link customers to energy sources in Texas, Oklahoma, Louisiana, The Rockies, the Gulf of Mexico and Western Canada. Because of Michigan's unique geology, MichCon is able to store up to 132 billion cubic feet of gas in naturally occurring, underground rock formations. This storage capability assures MichCon customers a reliable gas supply at a competitive price.
Our Non-Utility Business Units
Our non-utility business segments fall into these main categories:
- Power and Industrial Projects provide private, utility-type services to select energy-intensive industries. Ventures include on-site energy projects, industrial-scale generation, and cogeneration and biomass projects.
- Unconventional Gas Production comes from drilling in shale and coal seams. DTE Energy produces unconventional gas in Texas' Barnett Shale.
- Our Coal and Gas Midstream businesses leverage our large physical energy asset base to transport gas, coal and power to customers. We are the largest marketer and transporter of coal to third-party customers in North America. We are a leader in gas storage and regional pipeline operations.
- Energy trading is a strong marketer/trader of both physical and financial power and natural gas.
DTE Biomass Energy
DTE Biomass Energy provides energy solutions to landfill owners and operators across the U.S., helping owners benefit from the increasing emphasis on renewable energy. They acquire, build, develop, own, and operate landfill gas recovery systems, landfill gas-to-energy projects and carbon offset projects providing environmentally sustainable products to the market. In business since 1988 and headquartered in Ann Arbor, Mich, DTE Biomass Energy serves customers at over 20 operating facilities across the United States - a proven leader in the renewable energy sector.
DTE Biomass Energy provides energy solutions to landfill owners and operators across the U.S., helping owners benefit from the increasing emphasis on renewable energy. They acquire, build, develop, own, and operate landfill gas recovery systems, landfill gas-to-energy projects and carbon offset projects providing environmentally sustainable products to the market. In business since 1988 and headquartered in Ann Arbor, Mich, DTE Biomass Energy serves customers at over 20 operating facilities across the United States - a proven leader in the renewable energy sector.
DTE Coal Services
DTE Coal Services provides coal sourcing, marketing, risk management, transportation, rail management and trading services nationally to coal producers, electric utilities, steel companies and other industries. Building on Detroit Edison's coal expertise, DTE Coal Services transports coal to third parties by rail and aids power plants in reducing fuel costs. It also supplies coal procurement and logistics services to its customers, and is active in trading coal, emissions and carbon in the financial and physical markets. Based in Ann Arbor, Mich., DTE Coal Services and its affiliates handle coal management services for more than 30 million tons annually or 5 percent of all coal shipments throughout North America.
DTE Energy Services
DTE Energy Services, based in Ann Arbor, Mich., develops, acquires, builds, owns and operates energy projects. DTE Energy Services has facilities in 18 states and the company's portfolio includes electric power generation facilities, as well as a wide array of energy projects for industrial, commercial and institutional customers. DTE Energy Services has a broad view of the complex energy web and a full complement of integrated resources to deliver focused solutions, creating value for its business partners.
DTE Energy Services, based in Ann Arbor, Mich., develops, acquires, builds, owns and operates energy projects. DTE Energy Services has facilities in 18 states and the company's portfolio includes electric power generation facilities, as well as a wide array of energy projects for industrial, commercial and institutional customers. DTE Energy Services has a broad view of the complex energy web and a full complement of integrated resources to deliver focused solutions, creating value for its business partners.
DTE Energy Trading
DTE Energy Trading buys and sells power and natural gas on the commodities market to find the best price and right supply for its customers. The Ann Arbor, Mich.-based company is an active participant in the physical and financial markets for natural gas and power as well as the related assets (gas transport and storage, power generation and transmission) in the Midwest, Northeast and Texas markets. DTE Energy Trading also provides energy sourcing and risk management solutions to wholesale customers, such as investor-owned gas and electric utilities and retail marketers.
DTE Energy Trading buys and sells power and natural gas on the commodities market to find the best price and right supply for its customers. The Ann Arbor, Mich.-based company is an active participant in the physical and financial markets for natural gas and power as well as the related assets (gas transport and storage, power generation and transmission) in the Midwest, Northeast and Texas markets. DTE Energy Trading also provides energy sourcing and risk management solutions to wholesale customers, such as investor-owned gas and electric utilities and retail marketers.
DTE Energy Ventures
DTE Energy Ventures Inc. makes venture capital investments in new energy technologies and has partial ownership of Plug Power Inc., a fuel cell development and manufacturing company. Plug Power was formed in June 1997 to develop and manufacture fuel cells that use an electrochemical process to convert methane, natural gas and gasoline into electricity for residential and automotive applications.
DTE Energy Ventures Inc. makes venture capital investments in new energy technologies and has partial ownership of Plug Power Inc., a fuel cell development and manufacturing company. Plug Power was formed in June 1997 to develop and manufacture fuel cells that use an electrochemical process to convert methane, natural gas and gasoline into electricity for residential and automotive applications.
DTE Gas Resources
With our strong technical and operating expertise related to shale formations, our newest endeavor -- the exploration and production of Barnett shale gas -- is a natural fit. The Texas Barnett shale has emerged as one of the largest and most active gas fields in North America. DTE Gas Resources holds in excess of 60,000 leasehold acres in Fort Worth, Texas, with plans to expand. We operate more than 150 producing wells, and continue to add wells.
With our strong technical and operating expertise related to shale formations, our newest endeavor -- the exploration and production of Barnett shale gas -- is a natural fit. The Texas Barnett shale has emerged as one of the largest and most active gas fields in North America. DTE Gas Resources holds in excess of 60,000 leasehold acres in Fort Worth, Texas, with plans to expand. We operate more than 150 producing wells, and continue to add wells.
DTE Pipeline Co.
DTE Gas Pipelines manages a network of natural gas transmission pipelines. DTE Gas Storage, an affiliate, has 89 billion cubic feet of gas storage capacity. Its Washington 10 and Washington 28 facilities near Detroit connect to the Vector and MichCon pipelines, which provides easy access to Midwest and Northeast markets. DTE Pipeline manages the company's interests in the Vector and Millennium pipelines.
DTE Gas Pipelines manages a network of natural gas transmission pipelines. DTE Gas Storage, an affiliate, has 89 billion cubic feet of gas storage capacity. Its Washington 10 and Washington 28 facilities near Detroit connect to the Vector and MichCon pipelines, which provides easy access to Midwest and Northeast markets. DTE Pipeline manages the company's interests in the Vector and Millennium pipelines.
DTE Rail Services
DTE Rail Services provides rail car repair, maintenance and storage services. It has a servicing capacity of more than 20,000 cars per year with 32 miles of track for storage and fleet services. DTE Rail Services' railcar maintenance and repair services include rebuilding, repair, fabricating, JIC inspection, preventive maintenance, painting and mobile repair. In addition, DTE Rail Services provides rail car and fleet management, spare-car storage, railcar maintenance, car tracking and reporting, car trading and fleet-pooling operations to a variety of industries throughout the United States.
DTE Rail Services provides rail car repair, maintenance and storage services. It has a servicing capacity of more than 20,000 cars per year with 32 miles of track for storage and fleet services. DTE Rail Services' railcar maintenance and repair services include rebuilding, repair, fabricating, JIC inspection, preventive maintenance, painting and mobile repair. In addition, DTE Rail Services provides rail car and fleet management, spare-car storage, railcar maintenance, car tracking and reporting, car trading and fleet-pooling operations to a variety of industries throughout the United States.
Midwest Energy Resources Co.
Midwest Energy Resources Co. (MERC) was formed in 1974 to provide Detroit Edison with the lowest possible transportation cost for low-sulfur Western coal. MERC utilizes its Superior Midwest Energy Terminal in Superior, Wis., to facilitate an innovative rail-vessel transshipment system. MERC handles much of the Great Lakes market for low-sulfur Western coal.
Midwest Energy Resources Co. (MERC) was formed in 1974 to provide Detroit Edison with the lowest possible transportation cost for low-sulfur Western coal. MERC utilizes its Superior Midwest Energy Terminal in Superior, Wis., to facilitate an innovative rail-vessel transshipment system. MERC handles much of the Great Lakes market for low-sulfur Western coal.
Key Contacts
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