0000936340-17-000265.txt : 20171122 0000936340-17-000265.hdr.sgml : 20171122 20171122161520 ACCESSION NUMBER: 0000936340-17-000265 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20171122 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20171122 DATE AS OF CHANGE: 20171122 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DTE ENERGY CO CENTRAL INDEX KEY: 0000936340 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 383217752 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11607 FILM NUMBER: 171220050 BUSINESS ADDRESS: STREET 1: ONE ENERGY PLAZA CITY: DETROIT STATE: MI ZIP: 48226 BUSINESS PHONE: 3132354000 MAIL ADDRESS: STREET 1: ONE ENERGY PLAZA CITY: DETROIT STATE: MI ZIP: 48226 FORMER COMPANY: FORMER CONFORMED NAME: DTE HOLDINGS INC DATE OF NAME CHANGE: 19950127 8-K 1 a8-k2017dtegascompanyratec.htm 8-K Document


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): November 22, 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

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 8.01. Other Events.

On November 22, 2017, DTE Gas Company (DTE Gas) filed a general rate case, No. U-18999, with the Michigan Public Service Commission (MPSC). The full text of the filing is available on the MPSC’s website (http://efile.mpsc.state.mi.us/efile/) under case number U-18999.  DTE Gas is a wholly-owned subsidiary of DTE Energy Company (DTE Energy).
    
On November 22, 2017, DTE Energy will post a summary and discussion of the filing in the DTE Gas rate case to the DTE Energy website at www.dteenergy.com. The summary is attached as Exhibit 99.1.


Item 9.01.      Financial Statements and Exhibits.

(d) Exhibits



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 2016 Form 10-K and 2017 Forms 10-Q (which sections are incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy that discuss important factors that could cause DTE Energy's actual results to differ materially. DTE Energy expressly disclaims 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 registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: November 22, 2017            
    
 
DTE Energy Company
 
(Registrant)
 
 
 
/s/ Don M. Stanczak
 
Don M. Stanczak
 
Vice President
 
 



EX-99.1 2 dtegasratecaseinitialfilin.htm EXHIBIT 99.1 Exhibit


EXIBIT 99.1
dtegasratecaseinitial_image2.gif

Summary of DTE Gas’s Rate Case Filing U-18999

DTE Gas Company (DTE Gas) filed a general rate case on November 22, 2017 with the MPSC. This document provides additional information relative to DTE Gas’s filing. The full filing will be available on the MPSC’s website (http://efile.mpsc.state.mi.us/efile/) under case number U-18999.
Consistent with Michigan’s Public Act 341, DTE Gas anticipates an MPSC order by late September 2018, allowing new rates to be implemented October 1, 2018. DTE Gas looks forward to working through the elements of the filing with the MPSC Staff and other stakeholders.
Highlights of DTE Gas’s Rate Filing
DTE Gas’s rate case filing is based on a fully projected test year on October 1, 2018 ending September 30, 2019. The projected average rate base for the test year is $4.3 billion.
DTE Gas’s rate case filing seeks a return on equity of 10.5% (40 bps increase from its current authorized rate); 52% equity and 48% debt.
DTE Gas’s rate case filing seeks to accelerate the replacement of aging cast-iron and unprotected steel main (IRM1) from a 25 to a 15-year pace.
The table below shows the major components of DTE Gas’s rate filing.










___________________________
1 Infrastructure recovery mechanism






Item
Amount
($ millions)

Description
Return on and of Plant
$74
Increase in rate base of approximately $600 million; primarily distribution (including IRM capital through 2018) and compression related to NEXUS in-service in Q3 2018

 
O&M
31
Driven by inflation, incentive compensation and increased pipeline integrity work to meet Pipeline and Hazardous Materials Safety Administration (PHMSA) requirements, partially offset by lower uncollectible expenses
 

Sales Revenue and Other
 
(20)

Related to NEXUS in-service
 
Total Request
$85
 
 





Base Rates/Infrastructure Recovery Mechanism
DTE Gas seeks to accelerate the replacement of aging cast-iron and unprotected steel main from a 25 to a 15-year pace to provide both safe, reliable and cost effective service to its customers, and efficient system operation.
$28 million of the $85 million revenue requirement is related to incorporating IRM capital investments made through 2018 into base rates (currently recovered through a separate surcharge). This surcharge will end when new base rates are established. Therefore, the revenue requirement of $85 million will only result in a net effective rate increase to customers of $57 million. The rate proceeding also includes a proposed new IRM surcharge that will begin in 2019.
Gas Sales Forecast
Energy Waste Reduction (formerly Energy Optimization) efforts and a slightly higher Btu content of natural gas is driving down average residential consumption, resulting in lower sales volumes over which to collect the cost to serve customers. Average annual residential consumption is projected to decrease by 2 Mcf (approximately 2%) from 2017 levels of 93 Mcf to 91 Mcf in 2019.







Impact to Customer Bills
With continued decreases in the cost of natural gas and lower usage due to energy waste reduction programs, the average annual bill for a typical residential customer will increase approximately $1 per month in October 2018.




































For further information, please contact Barbara Tuckfield at 313.235.1018 or John Dermody at 313.235.8750



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