DTE Energy announces strategic sale of its non-utility DTE Vantage business; reports third quarter accomplishments including advancing data center growth that delivers unprecedented customer affordability benefits and filing long-term generation plan

Announced strategic sale of the non-utility DTE Vantage business, advancing DTE's long-term strategy and continued focus on customer affordability

Google data center contracts approved, advancing responsible data center growth that delivers unprecedented affordability benefits to existing customers

Continued substantial investment to improve reliability, support cleaner generation; on track to invest $6.1 billion into its utilities in 2026

Filed Integrated Resource Plan for future power generation

Expanded Michigan-made renewable energy, completing Cold Creek Solar Park

Delivered progress toward a cleaner, more reliable and affordable energy future

, /PRNewswire/ -- DTE Energy (NYSE: DTE ) has entered into an agreement to sell its non-utility DTE Vantage business 1 for approximately $3 billion to institutional investors advised by the Global Infrastructure group at J.P. Morgan Asset Management, with the sale expected to close in the first half of 2027. The transaction advances DTE's long-term strategy and continued focus on customer affordability, while strengthening its ability to make significant utility investments that deliver affordable, clean and reliable energy for the customers and communities it serves. It supports a substantial increase in investment in the electric and gas utilities, which will total approximately $44 billion of customer-focused capital planned over the next five years. This includes investment to serve growing data center demand, which provides significant affordability benefits for existing customers.

The company has invested nearly $4.1 billion in its utilities through the third quarter of 2026 and remains on track to invest $6.1 billion this year as part of its long-term plan to meet Michigan's growing energy needs. The capital investments are strengthening and modernizing the company's electric and natural gas systems and supporting the transition to cleaner power generation, helping deliver safer, cleaner, more reliable and more affordable energy for customers today while preparing Michigan's energy infrastructure for continued growth.

The company also reported third quarter earnings of $470 million or $2.25 per diluted share, compared with $419 million, or $2.01 per diluted share in 2025. Operating earnings for the third quarter 2026 were $481 million, or $2.30 per diluted share, compared with 2025 operating earnings of $468 million, or $2.25 per diluted share. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this news release.

"DTE Vantage has been a strong non-utility business and valued part of DTE Energy for more than 30 years," said Joi Harris, DTE president and CEO. "This transaction advances our strategy to focus our resources on our regulated electric and gas utilities, where we see significant opportunities to invest on behalf of customers and communities. The sale supports our plan to deliver meaningful affordability benefits for customers, strengthens our ability to execute a substantial utility investment plan and positions DTE as a high-growth, premium utility with a stronger long-term outlook."

Harris noted the following accomplishments:

Advanced responsible data center growth that delivers unprecedented affordability benefits to existing customers: Following the Michigan Public Service Commission's approval of DTE's energy contracts with Google for its planned data center in Van Buren Township, DTE is moving forward to serve two hyperscale data center customers in Michigan. These agreements are expected to deliver significant affordability benefits for DTE customers, with data centers covering the full cost of the energy and grid investments needed to serve them, while contributing billions of dollars to the electric system through 2045. These contributions will help reduce the amount needed from existing customers while supporting economic growth and cleaner energy. Michigan is uniquely positioned to lead the country in responsible data center development, supported by strong regulatory oversight, clear laws and additional safeguards in DTE's service contracts that protect customers .

Filed Integrated Resource Plan for future power generation: DTE Electric filed its 20-year plan with the Michigan Public Service Commission to deliver reliable and cleaner energy, while keeping customer bills as low as possible. Shaped by extensive customer input, the Integrated Resource Plan calls for a balanced mix of renewable energy, energy storage, nuclear and natural gas. It also maintains DTE's commitment to end coal use in 2032, reduces carbon dioxide emissions by 84% and is projected to cost $3.5 billion less than the company's previous IRP.

Partnered with Ford Motor Company to expand Michigan-made renewable energy: Through Ford's participation in DTE's MIGreenPower program, DTE completed the 100-megawatt Cold Creek Solar Park near Coldwater, advancing Ford's goal to assemble every vehicle made in Michigan with the equivalent of 100% carbon-free electricity by the end of 2027, while creating local jobs, generating tax revenue for the host community and bringing more Michigan-made renewable energy to the grid.

Delivered progress toward a cleaner, more reliable and affordable energy future : DTE's 2025 Sustainability Report details the company's work to strengthen the grid, expand renewable energy and support customers and communities. At year-end 2025, DTE operated 20 wind parks and 34 solar parks, generating enough energy to power more than 900,000 homes. The company also kept customer bills below regional and national averages and connected customers with nearly $125 million in energy assistance.

Outlook for 2026 and 2027