As energy costs skyrocket, state regulators grant DTE $242m rate hike

LANSING – The Michigan League of Conservation Voters today issued the following statement after the Michigan Public Service Commission allowed DTE Energy to raise its electric rates on Michigan families businesses and families by $242 million – the corporation’s fourth major electric hike in five years.

“DTE Energy made almost $1.5 billion in profits last year. Michiganders are grappling with skyrocketing energy costs, and now they just hiked our energy bills again,” said Alex Kellogg, Energy Accountability Manager for the Michigan LCV. “Michiganders pay the highest energy costs in the Midwest with some of the worst reliability in the country. The constant rate hikes year after year are putting major strains on working families. Our bills are too damn high. It’s time for leaders in Lansing to pass a Ratepayer Bill of Rights to rein in rising energy costs and out of control utility greed.”

On Tuesday, DTE reported a profit of $1.46 billion in 2025 – a jump from $1.41 billion in 2024. On a recent earnings call, executives attributed the increase in profits to raising energy bills on Michigan families and businesses.

Investor reports also clearly show DTE Energy’s CEO and executives receive bonuses based on how much they are able to raise our bills. In 2024, DTE Energy’s CEO made more than $12 million, for example, a $2 million increase from 2023. 

Research by the advocacy group the Citizens Utility Board of Michigan has repeatedly found Michigan families and businesses pay the highest energy bills in the Midwest yet endure some of the longest power outages in the country. 

DTE’s new electric rates will take effect on March 5 and affect approximately 2.3 million families and businesses across Southeast Michigan.

A Ratepayer Bill of Rights would:

• Ban political contributions from regulated utilities to lawmakers.
• Stop Michigan families and businesses from funding CEO bonuses and corporate lavish lifestyles while customers sit in the dark for too long.
• Guarantee the right to reliable, affordable energy for every household.
• Empower residents to choose their own electric provider and communities to produce more of their own clean energy, like community solar, without obstruction from monopoly utilities.