DTE Energy to pause rate increases till 2028 as data center boom pushes prices higher

DTE Energy Co

23/04/2026 19:11

April 23 (Reuters) - DTE Energy DTE.N said on Thursday its electric utility does not plan to seek rate increases for at least the next two years, subject to conditions, as it aims to keep customer bills in check amid surging electricity prices across the U.S.

DTE said it would file a rate request with Michigan's regulatory body later this month, following which it would forego asking for rate increases until 2028.

The data center boom has lifted U.S. power consumption out of two decades of flat demand, but it has also led to rising electricity prices for a large swath of the country.

The planned filing in April seeks $474.3 million to help fund several billion dollars of investment in its electric grid and power generation.

CEO Joi Harris said that as long as the first data center comes online by 2027 and DTE receives other regulatory approvals, the company will "refrain from filing another rate request ... providing customers two years without an increase in rates after the current request is complete."

DTE said it has two data‑center contracts, of which one has been approved. The contracts are expected to contribute nearly $9 billion toward upgrades to DTE’s electric system through 2045 and reduction of costs for other customers.

Regulated utilities like DTE use rate case proceedings to determine the cost customers pay for electricity and natural gas.

In the U.S., utilities have been advocating for higher bills to help fund infrastructure upgrades.

DTE said that a final decision by the Michigan regulator and any potential rate changes are not expected until late February 2027.

 (Reporting by Varun Sahay in Bengaluru; Editing by Sahal Muhammed)

 ((Varun.Sahay@thomsonreuters.com;))