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August 03, 2015 8:08 PM ET

Electric Utilities

Company Overview of DTE Electric Company

Company Overview

DTE Electric Company, an electric utility, engages in the generation, purchase, distribution, and sale of electricity in southeastern Michigan. The company generates electricity from various fossil-fuel plants, a hydroelectric pumped storage plant, a nuclear plant, and wind and other renewable plants, as well as purchases electricity from generators, suppliers, and wholesalers. It owns and operates 675 distribution substations with a capacity of approximately 32,867,000 kilovolt-amperes (kVA) and approximately 432,900 line transformers with a capacity of approximately 23,359,000 kVA. It serves approximately 2.1 million customers, including residential, commercial, and industrial customers. T...

One Energy Plaza

Detroit, MI 48226

United States

Founded in 1903

4,900 Employees

Phone:

313-235-4000

Key Executives for DTE Electric Company

Chairman and Chief Executive Officer
Age: 56
Chief Financial Officer and Senior Vice President
Age: 49
Senior Vice President of Major Enterprise Projects
Age: 63
Senior Vice President of Electical Operations
Age: 62
Senior Vice President and Chief Nuclear Officer
Compensation as of Fiscal Year 2015.

DTE Electric Company Key Developments

DTE Electric Company Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings Guidance for 2015

DTE Electric Company reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported earnings of $99 million or $0.55 per diluted share compared to $129 million or $0.73 per diluted share a year ago. Operating earnings were $111 million or $0.62 per diluted share compared to $129 million or $0.73 per diluted share a year ago. For six months, the company reported earnings of $235 million or $1.31 per diluted share compared to $265 million or $1.50 per diluted share a year ago. Operating earnings were $247 million or $1.38 per diluted share compared to $265 million or $1.50 per diluted share a year ago. Capital expenditure was $905 million compared to $832 million a year ago. The company reaffirmed earnings guidance for the full year of 2015. For the year, the company expects operating earnings of $554 million to $570 million.

DTE Electric Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reaffirms Earnings Guidance for the Fiscal 2015; Announces to Invest in Capital Projects

DTE Electric announced unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company’s reported and operating earnings were $128 million against $101 million a year ago. Diluted earnings per share were $0.72 against $0.57 a year ago. For the year, the company’s reported and operating earnings were $528 million against $484 million a year ago. Diluted earnings per share were $2.98 against $2.76 a year ago. The company has reaffirmed earnings guidance for the fiscal 2015. The company now expected operating income of $554 to $570 million. Capital expenditure of $1,820 million. Capital expenditure higher due to increased generation and reliability investment. The company will invest over $7.5 billion in capital projects to drive growth through 2019.

DTE Electric Company Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

DTE Electric Company announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income was $135 million or $0.76 per share compared to $179 million $1.02 per share for the same period a year ago. For the nine months, the company reported net income was $400 million or $2.26 per share compared to $383 million $2.19 per share for the same period a year ago.

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