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 8, 2019

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))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
 
Trading Symbol(s)
 
Name of Exchange on which Registered
Common stock, without par value
 
DTE
 
New York Stock Exchange
 
 
 
 
 
2012 Series C 5.25% Junior Subordinated Debentures due 2062
 
DTQ
 
New York Stock Exchange
 
 
 
 
 
2016 Series B 5.375% Junior Subordinated Debentures due 2076
 
DTJ
 
New York Stock Exchange
 
 
 
 
 
2016 Series F 6.00% Junior Subordinated Debentures due 2076
 
DTY
 
New York Stock Exchange
 
 
 
 
 
2017 Series E 5.25% Junior Subordinated Debentures due 2077
 
DTW
 
New York Stock Exchange
 
 
 
 
 
6.50% Corporate Units
 
DTV
 
New York Stock Exchange
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 July 8, 2019, DTE Electric Company (DTE Electric) filed a general rate case, No. U-20561, 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-20561. DTE Electric is a wholly-owned subsidiary of DTE Energy Company (DTE Energy).
On July 8, 2019, DTE Energy posted a summary and discussion of the filing in the DTE Electric 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

99.1 Summary of DTE Electric's Rate Case Filing U-20561 .


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's 2018 Form 10-K and 2019 10-Q (which section is 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 8, 2019

 
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 99.1 Summary of DTE Electric’s Rate Case Filing U-20561 DTE Electric Company (DTE Electric) filed a general rate case on July 8, 2019 with the Michigan Public Service Commission (MPSC). This document is a summary of DTE Electric’s filing. The full testimony of the filing will be available on the MPSC’s website (http://efile.mpsc.state.mi.us/efile/) under case number U-20561. DTE Electric is focused on providing clean, affordable and reliable energy. This case allows DTE Electric to continue to make the investments needed to modernize and improve its infrastructure to ensure it is able to provide power to Michigan families and businesses now and in the future. Projected test year: May 1, 2020 through April 30, 2021 Major components of the rate filing: Amount Item ($ millions) Description Plant additions $157 $1.2 billion increase in net plant; primarily distribution and generation Capital structure 62 Primarily ROE (10.5%) O&M 88 Primarily driven by inflation and incentive compensation Sales / revenue 43 Energy efficiency Other 1 Revenue deficiency $351 Plant additions The projected average rate base for the test year is $18.3 billion. The rate base increase is primarily driven by continued infrastructure investments to improve distribution reliability and ensure generation availability. The investments will be used to replace aging distribution infrastructure by upgrading circuits to improve reliability, redesigning substations to avoid system overload and adding remote monitoring capabilities to detect outages, as well as to invest in long-term generation assets. Capital structure Return on equity (ROE) of 10.5% is a 50 bps increase from the current authorized ROE of 10.0%. Weighted cost of capital is 5.73% after tax, 7.15% pre-tax with a permanent capital structure of 50% equity and 50% long-term debt.


 
Operation and maintenance expense Increase is primarily driven by wage escalation and inclusion of total incentive compensation. Lower electric sales forecast Projected period sales are 41,307 GWh for bundled sales and 4,700 for electric choice sales. The bundled sales are lower than sales levels approved in the last rate case due to energy efficiency. Residential customer impact Proposed rate increase would increase the average residential bill by less than $10 per month. Low-income renewables pilot program The Company is proposing to implement a low-income renewables pilot program that will better enable low income customers to participate in the Company’s MIGreenPower (MIGP) program. For further information, please contact DTE Energy’s investor relations group at (313) 235-8030. 2