Detroit

316 readers

6 users here now

The birthplace of techno and the Motown sound. The center of the automotive industry. Resurget cineribus.

Welcome to !detroit@midwest.social, a place to talk about what’s happening in Detroit.

Rules

Please respect each other. Post anything related to Detroit or the two cities within it, Hamtramck and Highland Park. Racist and classist language will not be tolerated.

Icon photo courtesy of
Jubbar J.
at Unsplash

Banner:
Family by Hebru Brantley, Murals in the Market 2017, 2611 Russell Street, Eastern Market.
Photo courtesy of
Terence Faircloth at Flickr

founded 2 years ago

MODERATORS

FaygoOfficial@midwest.social

Really?! DTE Energy signals another electric rate hike request for spring (planetdetroit.org)

submitted 8 months ago by raoulraoul@midwest.social to c/detroit@midwest.social

0 comments fedilink hide all child comments

DTE Energy Chairman and CEO Jerry Norcia indicated on a recent earnings call that the company would pursue another electric rate case this spring, potentially hiking electric bills for customers just hit with a $368,000,000.00 rate increase in December.

That increase added $6.51 to the average bill. DTE Energy took in $1,400,000,000.00 in earnings in 2023, an increase from $1,200,000,000.00 in 2023.

Chris Bzdok, an environmental attorney{…]told Outlier in December that spending money on tree trimming, for example, only allows the utility to recoup the maintenance cost. However, if the utility spends the same amount of money on new equipment, it can be added to the company’s rate base, earning it their rate of return on investment, including 50% equity for stockholders. […] These shareholders include DTE’s top management, who receive millions in stock options.

no comments (yet)

sorted by: hot top controversial new old

there doesn't seem to be anything here