radio and TV stating how they are working to cut costs and want consumers to pay less. They also state they natural gas prices are the lowest they have been since 2008 and that they buy their natural gas during the summer months when rates are low. DTE says that they store that natural gas so it is ready for winter.
Well if gas prices are so low and DTE wants us to pay less, why are they seeking a rate increase that could on average raise one's bill by $39 annually?
Here is the press release DTE snuck out during the slow news period of the holidays and on the slowest news day of any week, a Friday:
Friday December 19th, 2014
DTE Electric, a subsidiary of DTE Energy, has filed its first electric residential rate increase in four years.
Because of already-planned rate adjustments, commercial and industrial customers will actually see a rate reduction since the last rate case.
DTE is asking the Michigan Public Service Commission to recover investments made over the last four years to ensure adequate electric supply, improve reliability and install environmental controls at its power plants to reduce emissions.
"DTE has been an industry leader in controlling operating costs over the last 10 years," said Jerry Norcia, president and chief operating officer of DTE Electric. "However, because of the significant investments we're making to ensure that Michigan has adequate and reliable electric supply in the long term, we have requested a rate increase at this time."
If the increase is approved by the MPSC late next year, on average, residential customers will see a $3.25 increase in their monthly bills since 2013. This represents an annual increase of approximately 1.5 percent and includes other rate offsets in 2014 and 2015.
"We have made, and will continue to make, significant investments," Norcia said. "These investments not only help us deliver cleaner, reliable energy for Michigan's families and businesses, but also make Michigan a more competitive place to do business."