8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________

FORM 8-K

_____________________________

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 26, 2017

Commission File Number	Exact Name of Registrant as Specified in its Charter, State of Incorporation, Address of Principal Executive Offices and Telephone Number	IRS Employer Identification No.
1-11607	DTE Energy Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-3217752
1-2198	DTE Electric Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-0478650

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under Exchange Act (17 CFR 240.12b-2).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

DTE Energy Company (DTE Energy) is furnishing the Securities and Exchange Commission (SEC) with its earnings release issued July 26, 2017, announcing financial results for the quarter ended June 30, 2017. A copy of the earnings release and the slide presentation, including supplemental financial information, are furnished as Exhibits 99.1 and 99.2 and incorporated herein by reference. In its earnings release and the slide presentation discussed below,DTE Energy increased its 2017 operating earnings guidance range from $5.15 - $5.46 to $5.26 - $5.57 per share.

Item 7.01. Regulation FD Disclosure.

DTE Energy is furnishing the SEC with its slide presentation issued July 26, 2017. A copy of the slide presentation is furnished as Exhibit 99.2 and incorporated herein by reference.

In its earnings release, slide presentation and this filing, DTE Energy discusses 2017 operating earnings guidance. It is likely that certain items that impact the company's 2017 reported results will be excluded from operating results. Reconciliations to the comparable 2017 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items (i.e. future non-recurring items, certain mark-to-market adjustments and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1     Earnings Release of DTE Energy Company dated July 26, 2017.

99.2     Slide Presentation of DTE Energy Company dated July 26, 2017.

Forward-Looking Statements:

This Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the “Forward-Looking Statements” section in DTE Energy's and DTE Electric Company's (DTE Electric) 2016 Form 10-K and 2017 10-Qs (which sections are incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric that discuss important factors that could cause DTE Energy's and DTE Electric's actual results to differ materially. DTE Energy and DTE Electric expressly disclaim any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date: July 26, 2017
	DTE ENERGY COMPANY (Registrant)
	/s/ Peter B. Oleksiak Peter B. Oleksiak Senior Vice President and Chief Financial Officer

DTE ELECTRIC COMPANY

(Registrant)

/s/ Peter B. Oleksiak

Peter B. Oleksiak

Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit

NumberDescription

99.1    Earnings Release of DTE Energy Company dated July 26, 2017.

99.2    Slide Presentation of DTE Energy Company dated July 26, 2017.

EX-99.1

EXHIBIT 99.1

July 26, 2017

DTE Energy reports second quarter 2017 results, raises guidance

• Announced broad sustainability initiative to reduce carbon emissions

• Ranked second in overall customer satisfaction with electric residential customers in the Midwest

• Named a top 10 ‘best place to work’ by Indeed in nationwide survey

DETROIT - DTE Energy (NYSE:DTE) today reported second quarter 2017 earnings of $177 million, or $0.99 per diluted share, compared with $152 million or $0.84 per diluted share in 2016.

Operating earnings for the second quarter 2017 were $191 million or $1.07 per diluted share, compared with 2016 operating earnings of $177 million, or $0.98 per diluted share. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this news release.

“Our financial performance this quarter was strong, putting us in a position to raise our 2017 earnings guidance,” said Gerry Anderson, DTE Energy Chairman and CEO. “The second quarter was important and encouraging on many fronts as well: we announced our strategy to reduce carbon emissions by more than 80 percent, achieved top decile customer satisfaction and employee safety results, received national recognition from Gallup and Indeed for the quality of our workplace, and continued our investments in Michigan companies.”

Anderson also noted the following recent company accomplishments:

• Commitment to reduce carbon emissions over 80 percent by 2050: In May, DTE Energy announced a broad sustainability initiative that will reduce the company’s carbon emissions by more than 80 percent by 2050. This reduction and the 2050 timeframe align with the target scientists broadly have identified as necessary to help address climate change. DTE's efforts to cut its carbon emissions will garner a 30 percent reduction by the early 2020s, 45 percent by 2030, 75 percent by 2040 and more than 80 percent by 2050.

• Top decile customer satisfaction: Earlier this month, DTE Energy ranked second in overall customer satisfaction with electric utility residential customers in the Midwest among large utilities in J.D. Power's 2017 study. The recent results mark the seventh consecutive year that DTE Energy has ranked in the top quartile for Midwest large utilities. DTE has improved its customer satisfaction score every year since 2012.

• Recognized as great workplace: For the fifth consecutive year, DTE Energy was recognized by the Gallup organization as a Gallup Great Workplace, Gallup’s highest honor that was created to recognize organizations for their ability to create an engaged and high-performing workplace. This award is given to only a select group of companies and DTE ranks in the 97^th percentile or top three percent in the world.

• Nationally-ranked employer: DTE Energy ranked seventh, ahead of Nike, Apple and The Walt Disney Company, in Indeed’s list of 50 Best Places to Work in 2017. The survey analyzed all Fortune 500 Index companies with over 5,000 employees, heavily weighting the site’s 15 million employee reviews as part of the evaluation criteria. DTE Energy’s top ten ranking was in the company of Salesforce, Facebook and Google.

• Consecutive years of gas safety recognition: For the second consecutive year, DTE Energy received the American Gas Association's (AGA) Safety Achievement Award for excellence in employee safety. The award, based on safety results in 2016, recognizes companies that have the lowest number of employee injuries and illnesses as measured by the Federal Occupational Safety and Health Administration (OSHA).

• Investing in Michigan: Through the first half of 2017, DTE Energy spent more than $840 million with Michigan-based companies as part of the Pure Michigan Business Connect initiative, with nearly $250 million spent within the City of Detroit. The company is 40 percent ahead of its year-to-date target putting

DTE on track to spend more than $1 billion again this year with companies located in the state of Michigan. This spend helps drive the state and local economies and creates jobs without compromising cost or quality.

Outlook for 2017

DTE Energy increased its 2017 operating earnings per share guidance to $5.26 - $5.57 from $5.15 - $5.46.

“We are confident in raising our operating earnings guidance from a midpoint of $5.31 to $5.42 per share based on our continued strong performance within our non-utility businesses,” said Peter Oleksiak, DTE Energy senior vice president and chief financial officer.

This earnings announcement and presentation slides are available at dteenergy.com/investors.

DTE Energy plans to conduct a conference call with the investment community hosted by Anderson at 9 a.m. ET today to discuss second quarter 2017 earnings results. Investors, the news media and the public may listen to a live internet broadcast of the call at dteenergy.com/investors. The telephone dial-in numbers are U.S. and Canada toll free: (888) 505-4377 or International toll: (719) 325-2390. The passcode is 9327084. The webcast will be archived on the DTE Energy website at dteenergy.com/investors. An audio replay of the call will be available from noon today through noon Wednesday August 9, 2017. To access the replay, dial US and Canada toll free (888) 203-1112 or International toll (719) 457-0820 and enter passcode 9327084.

About DTE Energy

DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.2 million customers in Southeastern Michigan and a natural gas utility serving 1.3 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.

Use of Operating Earnings Information - DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors.

In this release, DTE Energy discusses 2017 operating earnings guidance. It is likely that certain items that impact the company's 2017 reported results will be excluded from operating results. Reconciliations to the comparable 2017 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items (i.e. future non-recurring items, certain mark-to-market movements and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

The information contained herein is as of the date of this release. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this release as a result of new information or future events or developments. Words such as “anticipate,” “believe,” “expect,” “may,” “could,” “projected,” “aspiration,” “plans” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various assumptions, risks and uncertainties. This release contains forward-looking statements about DTE Energy’s financial results and estimates of future prospects, and actual results may differ materially.

Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the EPA, the FERC, the MPSC, the NRC, and for DTE Energy, the CFTC, as well as other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals, or new legislation, including legislative amendments and retail access programs; economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation, and thefts of electricity and, for DTE Energy, natural gas; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental, and regulatory risks associated with ownership and operation of nuclear facilities; changes in the cost and availability of coal and other raw materials, purchased power, and natural gas; volatility in the short-term natural gas storage markets impacting third-party storage revenues related to DTE Energy; impact of volatility of prices in the oil and gas markets on DTE Energy's gas storage and pipelines operations; impact of volatility in prices in the international steel markets on DTE Energy's power and industrial projects operations; volatility in commodity markets, deviations in weather, and related risks

impacting the results of DTE Energy's energy trading operations; changes in the financial condition of DTE Energy's significant customers and strategic partners; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for increased costs or delays in completion of significant capital projects; changes in, and application of, federal, state, and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings, and audits; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, cyber crime and terrorism; employee relations and the impact of collective bargaining agreements; the risk of a major safety incident at an electric distribution or generation facility and, for DTE Energy, a gas storage, transmission, or distribution facility; the availability, cost, coverage, and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy, and other business issues; contract disputes, binding arbitration, litigation, and related appeals; implementation of new information systems; and the risks discussed in our public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This presentation should also be read in conjunction with the Forward-Looking Statements section of the joint DTE Energy and DTE Electric 2016 Form 10-K and 2017 Forms 10-Q (which section is incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric.

For further information, members of the media may call:

Stephanie Beres, DTE Energy, 313.235.5555    

For further information, analysts and investors may call:

Barbara Tuckfield, DTE Energy, 313.235.1018    

Joyce Leslie, DTE Energy, 313.235.3209

DTE Energy Company
Consolidated Statements of Operations (Unaudited)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
	(In millions, except per share amounts)
Operating Revenues
Utility operations	$	1,423		$	1,435		$	3,141		$	3,099
Non-utility operations	1,432			827			2,950			1,729
	2,855			2,262			6,091			4,828
Operating Expenses
Fuel, purchased power, and gas — utility	396			414			925			979
Fuel, purchased power, and gas — non-utility	1,248			717			2,428			1,493
Operation and maintenance	559			542			1,159			1,058
Depreciation and amortization	249			243			498			472
Taxes other than income	97			91			206			190
Asset (gains) losses and impairments, net	3			(1		)	3			(1		)
	2,552			2,006			5,219			4,191
Operating Income	303			256			872			637
Other (Income) and Deductions
Interest expense	133			114			258			227
Interest income	(2		)	(3		)	(5		)	(14		)
Other income	(66		)	(57		)	(130		)	(109		)
Other expenses	6			7			13			15
	71			61			136			119
Income Before Income Taxes	232			195			736			518
Income Tax Expense	57			50			167			133
Net Income	175			145			569			385
Less: Net Loss Attributable to Noncontrolling Interests	(2		)	(7		)	(8		)	(14		)
Net Income Attributable to DTE Energy Company	$	177		$	152		$	577		$	399
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	0.99		$	0.84		$	3.21		$	2.22
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	0.99		$	0.84		$	3.21		$	2.22
Weighted Average Common Shares Outstanding
Basic	179			179			179			179
Diluted	179			180			179			180
Dividends Declared per Common Share	$	0.825		$	0.73		$	1.65		$	1.46

DTE Energy Company
Segment Net Income (Unaudited)
	Three Months Ended June 30,
	2017									2016
	Reported Earnings			Adjustments			Operating Earnings			Reported Earnings			Adjustments			Operating Earnings
	(In millions)
DTE Electric	$	138		$	10	A	$	148		$	135		$	—		$	135
DTE Gas	1			—			1			13			—			13
Non-utility operations
Gas Storage and Pipelines	40			—			40			35			—			35
Power and Industrial Projects	30			—			30			15			2		C	17
Energy Trading	—			4		B	4			(23		)	23		B	—
Total Non-utility operations	70			4			74			27			25			52
Corporate and Other	(32		)	—			(32		)	(23		)	—			(23		)
Net Income Attributable to DTE Energy Company	$	177		$	14		$	191		$	152		$	25		$	177
Adjustments key
A) MPSC disallowance of power supply recovery costs related to a customer settlement — recorded in Operating Revenues — Utility operations and Other (Income) and Deductions — Interest expense (net of tax of $6M)
B) Certain adjustments resulting from derivatives being marked-to-market without revaluing the underlying non-derivative contracts and assets — recorded in Operating Expenses — Fuel, purchased power, and gas — non-utility (net of tax of $2M in 2017 and $15M in 2016)
C) Closure of Shenango coke battery due to impacts from downturn in North American steel industry — recorded in Operating Expenses — Asset (gains) losses and impairments (net of tax of $1M)

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited)
	Three Months Ended June 30,
	2017									2016
	Reported Earnings			Adjustments(1)			Operating Earnings			Reported Earnings			Adjustments(1)			Operating Earnings
DTE Electric	$	0.77		$	0.06	A	$	0.83		$	0.75		$	—		$	0.75
DTE Gas	0.01			—			0.01			0.07			—			0.07
Non-utility operations
Gas Storage and Pipelines	0.22			—			0.22			0.20			—			0.20
Power and Industrial Projects	0.17			—			0.17			0.08			0.01		C	0.09
Energy Trading	—			0.02		B	0.02			(0.13		)	0.13		B	—
Total Non-utility operations	0.39			0.02			0.41			0.15			0.14			0.29
Corporate and Other	(0.18		)	—			(0.18		)	(0.13		)	—			(0.13		)
Net Income Attributable to DTE Energy Company	$	0.99		$	0.08		$	1.07		$	0.84		$	0.14		$	0.98
(1) Per share amounts for the adjustments are based on the after-tax effect for each item, divided by the diluted weighted average common shares outstanding, as noted on the Consolidated Statements of Operations (Unaudited)
Adjustments key — see previous page

DTE Energy Company
Segment Net Income (Unaudited)
	Six Months Ended June 30,
	2017										2016
	Reported Earnings			Adjustments				Operating Earnings			Reported Earnings			Adjustments			Operating Earnings
	(In millions)
DTE Electric	$	244		$	10		A	$	254		$	262		$	—		$	262
DTE Gas	108			—				108			100			—			100
Non-utility operations
Gas Storage and Pipelines	85			—				85			65			—			65
Power and Industrial Projects	60			—				60			32			6		C	38
Energy Trading	96			(74		)	B	22			(30		)	46		B	16
Total Non-utility operations	241			(74		)		167			67			52			119
Corporate and Other	(16		)	—				(16		)	(30		)	—			(30		)
Net Income Attributable to DTE Energy Company	$	577		$	(64	)		$	513		$	399		$	52		$	451
Adjustments key
A) MPSC disallowance of power supply recovery costs related to a customer settlement — recorded in Operating Revenues — Utility operations and Other (Income) and Deductions — Interest expense (net of tax of $6M)
B) Certain adjustments resulting from derivatives being marked-to-market without revaluing the underlying non-derivative contracts and assets — recorded in Operating Expenses — Fuel, purchased power, and gas — non-utility (net of tax of $47M in 2017 and $30M in 2016)
C) Closure of Shenango coke battery due to impacts from downturn in North American steel industry — recorded in Operating Expenses — Asset (gains) losses and impairments (net of tax of $3M)

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited)
	Six Months Ended June 30,
	2017										2016
	Reported Earnings			Adjustments(1)				Operating Earnings			Reported Earnings			Adjustments(1)			Operating Earnings
DTE Electric	$	1.36		$	0.06		A	$	1.42		$	1.46		$	—		$	1.46
DTE Gas	0.60			—				0.60			0.56			—			0.56
Non-utility operations
Gas Storage and Pipelines	0.47			—				0.47			0.36			—			0.36
Power and Industrial Projects	0.33			—				0.33			0.18			0.03		C	0.21
Energy Trading	0.54			(0.41		)	B	0.13			(0.17		)	0.26		B	0.09
Total Non-utility operations	1.34			(0.41		)		0.93			0.37			0.29			0.66
Corporate and Other	(0.09		)	—				(0.09		)	(0.17		)	—			(0.17		)
Net Income Attributable to DTE Energy Company	$	3.21		$	(0.35	)		$	2.86		$	2.22		$	0.29		$	2.51
(1) Per share amounts for the adjustments are based on the after-tax effect for each item, divided by the diluted weighted average common shares outstanding, as noted on the Consolidated Statements of Operations (Unaudited)
Adjustments key — see previous page

EX-99.2

Click to edit Master title style 2nd Quarter 2017 Earnings Conference Call July 26, 2017 EXHIBIT 99.2

Safe Harbor Statement Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the EPA, the FERC, the MPSC, the NRC, and for DTE Energy, the CFTC, as well as other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals, or new legislation, including legislative amendments and retail access programs; economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation, and thefts of electricity and, for DTE Energy, natural gas; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental, and regulatory risks associated with ownership and operation of nuclear facilities; changes in the cost and availability of coal and other raw materials, purchased power, and natural gas; volatility in the short-term natural gas storage markets impacting third-party storage revenues related to DTE Energy; impact of volatility of prices in the oil and gas markets on DTE Energy's gas storage and pipelines operations; impact of volatility in prices in the international steel markets on DTE Energy's power and industrial projects operations; volatility in commodity markets, deviations in weather, and related risks impacting the results of DTE Energy's energy trading operations; changes in the financial condition of DTE Energy's significant customers and strategic partners; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for increased costs or delays in completion of significant capital projects; changes in, and application of, federal, state, and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings, and audits; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, cyber crime and terrorism; employee relations and the impact of collective bargaining agreements; the risk of a major safety incident at an electric distribution or generation facility and, for DTE Energy, a gas storage, transmission, or distribution facility; the availability, cost, coverage, and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy, and other business issues; contract disputes, binding arbitration, litigation, and related appeals; implementation of new information systems; and the risks discussed in our public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This presentation should also be read in conjunction with the Forward-Looking Statements section of the joint DTE Energy and DTE Electric 2016 Form 10-K and 2017 Forms 10-Q (which section is incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric. 2

• Gerry Anderson – Chairman and CEO • Jerry Norcia – President and COO • Peter Oleksiak – Senior Vice President and CFO • Barbara Tuckfield – Investor Relations Director 3 Participants

4 • Overview • Long-Term Growth Update • 2nd Quarter 2017 Financial Update

• Increasing 2017 operating EPS guidance midpoint $0.11 to $5.42 • Announced plan to reduce carbon emissions by more than 80 percent • Ranked 2nd in residential customer satisfaction** in Midwest at DTE Electric • Gas Storage & Pipelines (GSP) ‒ Achieved milestone at Bluestone Pipeline & Gathering ‒ Updating NEXUS in-service • Power & Industrial Projects (P&I) ‒ Closed on second landfill gas project ‒ Finalizing agreements on a large scale central energy plant project * Reconciliation of operating earnings (non-GAAP) to reported earnings included in the appendix ** J.D. Power 2017 Electric Utility Residential Customer Satisfaction Study (sm)(large providers). Visit jdpower.com 5 Strong results in 2nd quarter and increasing operating EPS* guidance

6 Committed to providing cleaner energy to customers and reducing carbon emissions by over 80% Carbon emissions reduction goals • Retiring aging coal-fired plants - ending use of coal by 2040 • Adding 3,500 megawatts of natural gas-fired energy capacity to supply 24/7 power and ensure reliability • Constructing up to 4,000 megawatts of additional renewable energy capacity Early 2020s 2030 2040 2050 2005 45% 75% 30% >80%

7 • Overview • Long-Term Growth Update • 2nd Quarter 2017 Financial Update

8 Bluestone achieved 1.0 Bcf/d delivery milestone; NEXUS and Link continue to progress • Construction ready ‒ Right-of-way acquisition essentially completed ‒ Majority of permits granted • Two FERC nominees approved by the Senate Energy and Natural Resources Committee; two additional candidates announced • 2018 in-service date • Additional wells continue to be brought online by key producers • Commercial expansion discussions with producers on-going * Includes Appalachia Gathering System (AGS) and 55% of Stonewall Gas Gathering (SGG) Bluestone Pipeline & Gathering NEXUS Link* Lateral & Gathering 0.3 Bcf/d 2017 • Achieved 1.0 Bcf/d 2011 • Established long- term agreement to build and operate Bluestone 2012 - 2016 • Multiple expansions completed 1.0 Bcf/d

• Commenced operations of recently acquired landfill gas plant • Began construction of new landfill gas plant ‒ Contract signed 2Q 2017 ‒ Targeting in-service 1H 2018 • Advanced discussions for several other landfill gas opportunities 9 Recent developments support P&I’s long-term growth plan Landfill Gas Projects Industrial Central Energy Plant • Both Boards approved in 2Q 2017 ‒ Currently finalizing agreements ‒ Targeting in-service 2H 2019 • Multiple energy products ‒ Combined heat and power ‒ Chilled and hot water

10 • Overview • Long-Term Growth Update • 2nd Quarter 2017 Financial Update

2Q 2016 2Q 2017 Change DTE Electric 135$ 148$ 13$ DTE Gas 13 1 (12) Gas Storage & Pipelines 35 40 5 Power & Industrial Projects 17 30 13 Corporate & Other (23) (32) (9) Growth segments** 177$ 187$ 10$ Growth segments operating EPS 0.98$ 1.05$ 0.07$ Energy Trading -$ 4$ 4$ DTE Energy 177$ 191$ 14$ Operating EPS 0.98$ 1.07$ 0.09$ Avg. Shares Outstanding 179.5 179.5 * Reconciliation of operating earnings (non-GAAP) to reported earnings included in the appendix DTE Electric • Rate implementation partially offset by return to normal May 2017 weather DTE Gas • Warmer April 2017 weather and higher O&M offset by rate implementation Gas Storage & Pipelines • Stronger pipeline and gathering earnings Power & Industrial Projects • Higher REF volumes and steel-related earnings Corporate & Other • Timing of taxes Energy Trading • Stronger gas performance ** Total DTE Energy excluding Energy Trading (millions, except EPS) Primary DriversOperating Earnings 11 2nd quarter operating earnings* were strong, up $14 million versus prior year

DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth segments** Growth segments operating EPS Energy Trading DTE Energy Operating EPS* Avg. Shares Outstanding $610 - $624 143 - 151 140 - 150 90 - 100 (64) - (60) $919 - $965 $5.12 - $5.38 $5 - $15 $924 - $980 179.5 $5.15 - $5.46 (millions, except EPS) * Reconciliation of operating earnings (non-GAAP) to reported earnings also included in the appendix ** Total DTE Energy excluding Energy Trading Increasing 2017 operating EPS* guidance midpoint by $0.11 12 Original Guidance Revised Guidance $610 - $624 143 - 151 145 - 155 100 - 110 (64) - (60) $934 - $980 $5.21 - $5.46 $10 - $20 $944 - $1,000 179.5 $5.26 - $5.57

* Reconciliation of operating earnings (non-GAAP) to reported earnings included in the appendix 13 Summary • Increasing 2017 operating EPS* guidance given strong financial performance • Transforming generation fleet to reduce carbon emissions by more than 80 percent • Driving utility growth through infrastructure investments focused on improving reliability and the customer experience • Continuing strategic and sustainable growth in non-utility businesses • Delivering strong EPS and dividend growth that drive premium total shareholder returns

DTE Energy Investor Relations dteenergy.com/investors (313) 235-8030 14 Contact us

Appendix

• Cooler weather Variance to normal weather – 2Q 2016: $14 – 2Q 2017: $1 • Rate implementation supports infrastructure improvements to enhance customer reliability $135 $148($8) ($13) $3 Primary DriversOperating Earnings* Variance (millions) 2Q 2016 Operating Earnings 2Q 2017 Operating Earnings Weather Rate Implementation Other * Reconciliation of operating earnings (non-GAAP) to reported earnings also included in the appendix $31 Rate Base 16 DTE Electric variance analysis

YTD 2016 YTD 2017 DTE Electric Distribution Infrastructure $224 $313 New Generation 55 34 Replacement & Other 361 390 $640 $737 DTE Gas Base Infrastructure $93 $112 NEXUS Related 14 48 Main Replacement 50 71 $157 $231 Non-Utility $184 $243 Total $981 $1,211 YTD 2016 YTD 2017 Cash From Operations $1.3 $1.2 Capital Expenditures (1.0) (1.2) Free Cash Flow $0.3 $0.0 Asset Sales & Other $0.0 ($0.1) Dividends (0.3) (0.3) Net Cash $0.0 ($0.4) Debt Financing: Issuances $0.6 $0.5 Redemptions (0.6) (0.1) Change in Debt $0.0 $0.4 Capital ExpendituresCash Flow (billions) (millions) 17 Cash flow and capital expenditures

2016 Actual 2017 Guidance DTE Electric Distribution infrastructure $567 $690 New generation 131 45 Replacement & other 805 725 $1,503 $1,460 DTE Gas Base infrastructure $177 $200 NEXUS related 94 90 Main replacement 124 145 $395 $435 Non-Utility $1,533 $900 - $1,100 Total $3,431 $2,795 - $2,995 2016 Actual 2017 Guidance Cash from operations $2.1 $1.9 Capital expenditures (3.4) (3.0) Free cash flow ($1.3) ($1.1) Asset sales & other $0.0 $0.0 Dividends (0.5) (0.6) Net cash ($1.8) ($1.7) Debt financing: Issuances $2.7 $2.0 Redemptions (0.9) (0.3) Change in debt $1.8 $1.7 Capital ExpendituresCash Flow (billions) (millions) Cash flow and capital expenditures guidance support growth target 18 * Updated guidance based on $300 million redemptions announced July 2017 and planned issuances * *

21% 2016 2017-2019E 51% 2016 2017-2019E Leverage* Funds from Operations** / Debt* Target 50% - 53% Target 20% + * Debt excludes a portion of DTE Gas’ short-term debt and considers 50% of the junior subordinated notes and 100% of the convertible equity units as equity ** Funds from Operations (FFO) is calculated using operating earnings • Update on equity issuances: ‒ No equity issuances planned for 2017 ‒ Acquisition related equity of $675 million in late 2019 (through convertible equity units) ‒ No additional equity planned through 2019 • $1.7 billion of available liquidity at June 2017 • Successfully extended the existing $1.9 billion credit facilities to 2022 Cash flow and balance sheet remain strong 19

Earnings impact of weather Cooling degree days ** Includes choice of 2,486 YTD 2016 and 2,393 YTD 2017 Heating degree days Earnings impact of weather Weather Normal Electric Sales* DTE Electric service territory Variance from normal weather (GWh) Variance from normal weather 2Q 2016 2Q 2017 % change Actuals 274 232 (15%) Normal 215 215 0% Deviation from normal 27% 8% 2Q 2016 2Q 2017 % change Actuals 838 668 (20%) Normal 774 786 2% Deviation from normal 8% (15%) ($ millions, after-tax) 2Q YTD 2016 $14 $6 2017 $1 ($12) ($ millions, after-tax) 2Q YTD 2016 $3 ($11) 2017 ($5) ($26) DTE Gas service territory ($ per share) 2Q YTD 2016 $0.08 $0.03 2017 $0.01 ($0.06) ($ per share) 2Q YTD 2016 $0.02 ($0.06) 2017 ($0.03) ($0.15) YTD 2016 YTD 2017 % change Residential 7,112 7,121 0% Commercial 9,825 9,884 1% Industrial 5,957 5,804 (3%) Other 136 140 3% TOTAL SALES** 23,030 22,949 0% DTE Electric DTE Gas DTE Electric service territory 20* Includes adjustments for temperature normalization and customer outages due to weather YTD 2016 YTD 2017 % change Actuals 274 232 (15%) Normal 215 215 0% Deviation from normal 27% 8% YTD 2016 YTD 2017 % change Actuals 3,755 3,461 (8%) Normal 4,095 4,049 (1%) Deviation from normal (8%) (15%) Weather and DTE Electric weather normal sales

DTE Electric and DTE Gas Regulatory update 21 DTE Gas DTE Electric • Expect to file late 2017 / early 2018 • General rate case - April 2017 (U-18255) – Requested rate recovery: $231 million; 10.5% ROE  Staff testimony: August 2017  Cross examination: October 2017  Self implementation: November 2017  Briefs: November 2017  Final order: by April 2018 • Capacity charge case - April 2017 (U-18248) • 5 year draft electric distribution plan - June 2017 (U-18014) • Certificate of Necessity filing - July 2017 • Annual rate cases 2018+

*** Economic gross margin is the change in net fair value of realized and unrealized purchase and sale contracts including certain non-derivative contract costs ** Consists of 1) the income statement effect of not recognizing changes in the fair market value of certain non-derivative contracts including physical inventory and capacity contracts for transportation, transmission and storage. These contracts are not marked-to-market, instead are recognized for accounting purposes on an accrual basis; 2) operating adjustments for unrealized marked-to-market changes of certain derivative contracts * Reconciliation of operating earnings (non-GAAP) to reported earnings also included in the appendix 2nd quarter and YTD 2017 Energy Trading reconciliation of operating earnings* to economic net income 22 • Economic net income equals economic gross margin*** minus O&M expenses and taxes • DTE Energy management uses economic net income as one of the performance measures for external communications with analysts and investors • Internally, DTE Energy uses economic net income as one of the measures to review performance against financial targets and budget 2Q YTD 2016 2017 Operating Earnings* $0 $4 Accounting Adjustments** 12 (2) Economic Net Income $12 $2 2016 2017 Operating Earnings* $16 $22 Accounting Adjustments** 14 0 Economic Net Income $30 $22

2Q 2017 Net Income (millions)* After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $138 $1 $40 $30 ($32) $177 $0 $177 PSCR disallowance 10 10 10 Certain mark-to- market transactions 4 4 Operating Earnings $148 $1 $40 $30 ($32) $187 $4 $191 2nd quarter 2017 reconciliation of reported to operating earnings (non-GAAP) Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. Operating earnings are presented both with and without Energy Trading. The term “Growth Segments” refers to DTE Energy without Energy Trading and represents the business segments that management expects to generate earnings growth going forward. 2Q 2017 EPS** After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $0.77 $0.01 $0.22 $0.17 ($0.18) $0.99 $0.00 $0.99 PSCR disallowance 0.06 0.06 0.06 Certain mark-to- market transactions 0.02 0.02 Operating Earnings $0.83 $0.01 $0.22 $0.17 ($0.18) $1.05 $0.02 $1.07 * Total tax impact of adjustments to reported earnings: $9 million ** Total tax impact of adjustments to reported EPS: $0.05 23

2Q 2016 Net Income (millions)* After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $135 $13 $35 $15 ($23) $175 ($23) $152 Plant closure 2 2 2 Certain mark-to- market transactions 23 23 Operating Earnings $135 $13 $35 $17 ($23) $177 $ 0 $177 2nd quarter 2016 reconciliation of reported to operating earnings (non-GAAP) * Total tax impact of adjustments to reported earnings: $16 million ** Total tax impact of adjustments to reported EPS: $0.09 2Q 2016 EPS** After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $0.75 $0.07 $0.20 $0.08 ($0.13) $0.97 ($0.13) $0.84 Plant closure 0.01 0.01 0.01 Certain mark-to- market transactions 0.13 0.13 Operating Earnings $0.75 $0.07 $0.20 $0.09 ($0.13) $0.98 $0.00 $0.98 Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. Operating earnings are presented both with and without Energy Trading. The term “Growth Segments” refers to DTE Energy without Energy Trading and represents the business segments that management expects to generate earnings growth going forward. 24

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 more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. In this presentation, DTE Energy provides guidance for future period operating earnings. It is likely that certain items that impact the company’s future period reported results will be excluded from operating results. A reconciliation to the comparable future period reported earnings is not provided because it is not possible to provide a reliable forecast of specific line items (i.e. future non-recurring items, certain mark-to- market adjustments and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings. Reconciliation of reported to operating earnings (non-GAAP) 25