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Lower natural gas costs, tax credits help DTE Energy keep bills down this winter

Customers can expect to spend 7.5 percent less through March

DETROIT, Nov. 19, 2018 /PRNewswire/ -- Winter is on its way to Michigan, but natural gas customers of DTE Energy may see some relief from energy costs this season.

DTE Energy (PRNewsFoto/DTE Energy)

Across the November-March heating season, the typical residential natural gas customer can expect to spend about 7.5 percent, or about $44, less than over the same period last year. The decrease is the result of reductions in the cost of natural gas and a usage-based tax credit reflecting the company's federal tax savings from 2018.

"Customers are going to save this winter because DTE has been able to keep its cost for natural gas down through our buying strategy, and what we pay is what customers pay," said Dan Brudzynski, vice president of Gas Sales and Supply at DTE Energy. "By purchasing gas throughout the year and storing it until now when customers need it, we've been able to take advantage of lower prices and lock those savings in."

Bills will also be lighter this heating season as DTE returns federal tax savings to customers through a usage-based credit. Under DTE's plan approved by the Michigan Public Service Commission, customers will see their share of DTE's tax savings from the first half of 2018 returned as credits based on monthly usage in the first half of 2019.

"DTE is committed to returning 100 percent of its tax savings back to customers, and this credit will benefit customers by lowering their monthly bills when their gas usage is at its peak," said Brudzynski.

Both the National Weather Service and DTE's internal meteorologist are forecasting the winter to be slightly warmer than last year and closer to historic norms. "Weather is one of the primary factors that influences monthly bills for customers," said Brudzynski. "As the weather gets colder, usage increases, and that makes bills go up."

To help customers find ways to manage their usage and monthly bills over the winter, DTE has launched a one-stop webpage for energy efficiency tips, billing information and winter safety information at dteenergy.com/staywarm. Commercial customers can visit dteenergy.com/heatingseason for tips and information specifically for businesses.

"We've relaunched our heating season webpages to serve as a quick and simple way for customers to get the information they need to take control of their usage and bills this winter," said Brudzynski.

In addition to the online resources, DTE is launching a statewide campaign throughout the fall and winter to educate and empower customers to manage their heating costs.

"We want to make sure everyone, whether they're in Detroit, Grand Rapids or up north in the U.P., knows what they can do to keep their heating costs under control," said Brudzynski.

About DTE Energy
DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.2 million customers in Southeastern Michigan and a natural gas utility serving 1.3 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading.  As one of Michigan's leading corporate citizens, DTE Energy is a force for growth and prosperity in the 450 Michigan communities it serves in a variety of ways, including philanthropy, volunteerism and economic progress. Information about DTE Energy is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com/dteenergy.

 

SOURCE DTE Energy

For further information: Brian Smith or Jill Wilmot, DTE Energy, 313.235.5555