DTE Energy (DTE) announced the construction of three new electric substations as part of the company’s ongoing commitment to reducing power outage frequency by 30% while cutting outage time in half by 2029. The new substations will be in Northville Township, Pontiac and Shelby Township and represent a total investment of more than $100 million. The new substations under construction are: Northville Township: $57M investment to build a new substation from 2024 to 2026 to support the expanding technology corridor in Northville Township and Plymouth. Pontiac: $17M investment to build a new substation from 2024 to 2026 to help improve reliability and increase capacity on the southwest side of Pontiac. Shelby Township: $39M investment to build a new substation from 2024 to 2026 to support the growing industrial and commercial demand along 23 and 24 Mile Roads.
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Read More on DTE:
- Barclays remains Buy on DTE Energy on weakness
- Jefferies power/utilities analysts hold an analyst/industry conference call
- DTE Energy price target raised to $145 from $133 at Wells Fargo
- DTE Energy reports Q3 operating EPS $2.22, consensus $1.88
- DTE Energy sees FY24 operating EPS $6.54 – $6.83, consensus $6.70
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