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DTE Energy Company : DTE Energy schedules advanced meter installations

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02/20/2012 | 08:45pm CET
New meters to be installed in several Washtenaw County communities

Feb 20, 2012

DETROIT - DTE Energy today announced plans to install an additional 450,000 advanced electric meters and gas modules by the end of 2013, including 120,000 in Ann Arbor and Washtenaw County.

More than 1 million DTE Energy customers will have the technology by the end of next year.

The technology provides the backbone for DTE Energy's smart circuit infrastructure, which will allow electric customers to communicate with the company, provide detailed information about their energy usage and recognize power outages without customer input.

The meters incorporate technology that will allow them to be read remotely and provide a wide range of optional benefits to customers, as well as operational savings through increased efficiencies to DTE Energy.

"Our advanced metering program will provide our customers with new technology that is both safe and secure," said Vince Dow, DTE Energy vice president, Distribution Operations. "This technology will allow us to quickly locate and reduce the length of power outages and other problems, virtually eliminate estimated bills through automated meter reading and remotely connect and disconnect service, which means faster, less intrusive service."

The digital meter technology will serve as a platform that will provide remote monitoring of the electric distribution system and allow customers to better manage their energy usage and bills.

About 650,000 advanced meters have been installed, mostly in Oakland County communities.

DTE Energy will begin installing about 120,000 advanced meters this month in Ann Arbor, Ypsilanti and Ypsilanti Township, then move to Ann Arbor Township and Barton Hills in March. Work will begin in Dexter, Dexter Township and Scio Township in April, and in Saline, Saline Township, Superior Township and Whitmore Lake in May. Residents in Chelsea, Manchester, Milan and York Township will see new meters beginning in June.

Future installation areas will be announced as implementation nears.

Other customer benefits are many:

· Manual meter reading is eliminated, which means vastly fewer estimated bills and improved billing accuracy

· Provides customers with online access to their individual energy usage

· Allows remote turn-on/turn-off and reconnect/disconnect capabilities without the wait for a service technician

· Theft and tamper detection

· New products and rate options available.

Customers will benefit because the company will know, to an individual meter, the extent of a power outage and how best to respond to that outage.

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 Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, MichCon, a natural gas utility serving 1.2 million customers in Michigan and other non-utility, energy businesses focused on gas storage and pipelines, unconventional gas production, power and industrial projects, and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.

For further information, members of the media may contact:

Scott Simons, (313) 235-8808, [email protected]

Len Singer, (313) 235-8809, [email protected]

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Sales 2018 11 693 M
EBIT 2018 1 727 M
Net income 2018 1 045 M
Debt 2018 14 315 M
Yield 2018 3,44%
P/E ratio 2018 17,82
P/E ratio 2019 16,77
EV / Sales 2018 2,81x
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Average target price 112 $
Spread / Average Target 8,9%
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Gerard M. Anderson Chairman & Chief Executive Officer
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Peter B. Oleksiak Chief Financial Officer & Senior Vice President
Steven B. Ambrose Chief Information Officer & Vice President
Gail J. McGovern Independent Director
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