DTE Energy Co. (NYSE: DTE) is a Detroit, Michigan-based utility incorporated in 1995 involved in the development and management of energy-related businesses and services nationwide.
DTE Energy's largest operating subsidiaries are Detroit Edison, an investor-owned electric utility serving 2.1 million customers in Southeastern Michigan, and Michigan Consolidated Gas Co. (MichCon), a natural gas utility serving 1.2 million customers in Michigan.
The name "DTE" is taken from the stock symbol for Detroit Edison, DTE.
DTE Energy Company (DTE Energy), incorporated in 1995, is a diversified energy company. The Company’s utility operations consist of The Detroit Edison Company (Detroit Edison) and Michigan Consolidated Gas Company (MichCon). The Company operates in four segments that are engaged in a variety of energy-related business. Detroit Edison is engaged in the generation, purchase, distribution and sale of electricity to approximately 2.1 million customers in south-eastern Michigan. MichCon is engaged in the purchase, storage, transmission, gathering, distribution and sale of natural gas to approximately 1.2 million customers throughout Michigan. Its other segments are engaged in gas pipelines and storage; unconventional gas and oil project development and production; power and industrial projects, and energy marketing and trading operations. During the year ended December 31, 2010, DTE Energy sold some of the non-strategic rail services.
Electric Utility
The Electric Utility segment consists of Detroit Edison. The generating plants are regulated by numerous federal and state governmental agencies. Electricity is generated from its fossil plants, a hydroelectric pumped storage plant and a nuclear plant, and is purchased from electricity generators, suppliers and wholesalers. The electricity produced and purchased is sold to residential, commercial and industrial customers, principally throughout south-eastern Michigan. Detroit Edison owns generating plants and facilities that are located in the State of Michigan.
Gas Utility
The Gas Utility segment consists of the MichCon and Citizens. Citizens distributes natural gas in Adrian, Michigan, to approximately 17,000 customers. Its Gas Utility segment includes gas sales, end user transportation, intermediate transportation, and storage and other. Gas sales include the sale and delivery of natural gas primarily to residential and small-volume commercial and industrial customers. End user transportation includes gas delivery service provided primarily to commercial and industrial customers. Intermediate transportation includes gas delivery service provided to producers, brokers and other gas companies that own the natural gas. Storage and other includes revenues from gas storage, appliance maintenance, facility development and other energy-related services.
The Company’s gas distribution system has a daily send-out capacity of 2.4 billion cubic feet of gas, with approximately 65% of the volume coming from underground storage, during 2010. The Company purchases natural gas supplies in the open market by contracting with producers and marketers, and maintains a diversified portfolio of natural gas supply contracts. It obtains natural gas supply from Gulf Coast, Mid-Continent, Canada and Michigan. The Company owns distribution, storage and transportation properties that are located in the State of Michigan. Its distribution system includes approximately 19,000 miles of distribution mains, approximately 1,036,000 service lines and approximately 1,319,000 active meters.
The Company owns approximately 2,000 miles of transmission lines that deliver natural gas to the distribution districts and interconnect its storage fields with the sources of supply and the market areas. It owns properties relating to four underground natural gas storage fields with an aggregate working gas storage capacity of approximately 134 billion cubic feet of gas. In addition, the Company sells storage services to third parties. It owns 602 miles of transportation and gathering (non-utility) pipelines in the northern lower peninsula of Michigan. DTE Energy leases a portion of its pipeline system to the Vector Pipeline Partnership, through a capital lease arrangement.
Gas Storage and Pipelines
Gas Storage and Pipelines owns partnership interests in two interstate transmission pipelines and two natural gas storage fields. The pipeline and storage assets are primarily supported by long-term and fixed-price revenue contracts. The Company has a partnership interest in the Vector Pipeline (Vector) and an interstate transmission pipeline, which connects Michigan to Chicago and Ontario. It also holds partnership interests in Millennium Pipeline Company, which indirectly connects southern New York State to Upper Midwest/Canadian supply, while providing transportation service into the New York City markets. The Company has storage assets in Michigan, which stores upto 90 billion cubic feet in natural gas storage fields located in Southeast Michigan. The Washington 10 and 28 storage facilities are storage fields having bi-directional interconnections with Vector Pipeline and MichCon, providing its customers access to the Chicago, Michigan, other Midwest and Ontario markets. Its customers include various utilities, pipelines, producers and marketers.
Unconventional Gas Production
The Company’s Unconventional Gas Production business is engaged in natural gas exploration, development and production within the Barnett shale in north Texas. During 2010, the Company’s total net acreage position was 70,246 acres and produced approximately five billions of cubic feet equivalents of natural gas.
Power and Industrial Projects
Power and Industrial Projects consist of projects that deliver energy products and services to industrial, commercial and institutional customers; provide coal transportation and marketing, and sell electricity from biomass-fired energy projects. This business segment provides services using project assets located on or near the customer’s premises in the steel, automotive, pulp and paper, airport and other industries. The Company produces metallurgical coke from two coke batteries with a capacity of 1.4 million tons per year. It has an investment in a third coke battery with a capacity of 1.2 million tons per year. It also provides pulverized coal and petroleum coke to the steel, pulp and paper, and other industries. The Company provides power generation, steam production, chilled water production, wastewater treatment and compressed air supply to industrial customers.
DTE Energy owns and operates three biomass-fired electric generating plants with a capacity of 133 megawatts. It also owns two coal-fired power plants, one gas-fired peaking electric generating plant. It develops landfill gas recovery systems that capture the gas and provide local utilities, industry and consumers. The Company’s coal services business provides coal transportation and related services, including fuel to its customers with energy requirements, which include electric utilities, merchant power producers, integrated steel mills and industrial companies. It owns and operates a coal transloading terminal, which provides storage and blending for its customers. DTE Energy delivers reduced emission fuel to utilities with coal-fired electric generation power plants. The Company owns and operates five facilities that process raw coal into reduced emission fuel resulting in reductions in nitrogen oxide (NO) and mercury (Hg) emissions.
Energy Trading
Energy Trading focuses on physical and financial power, gas marketing and trading, structured transactions, improvement of returns from DTE Energy’s asset portfolio, optimization of contracted natural gas pipeline transportation and storage, power transmission and generating capacity positions. Energy Trading also provides natural gas, power and ancillary services to various utilities, which include the management of associated storage and transportation contracts on the customer’s behalf. The customer base includes the utilities, local distribution companies, pipelines, and other marketing and trading companies. Energy Trading also provides commodity risk management services to the other businesses within DTE Energy.
Corporate and Other
The Corporate and Other includes various holding company activities. The Company holds non-utility debt and energy-related investments.
Into the mid-1990s, Michigan's economy and state policy continued to be uncertain as its basic industries struggled to compete with foreign manufacturers. In addition, a new governor was redefining state goals. For these reasons, Detroit Edison continued to minimize staff levels, reduce its use of foreign crude, and cut its dependence on industrial sales, thereby maximizing the company's flexibility. Net income in 1993 reflected these efforts: $588 million, a jump of 14 percent over 1990's record levels.
As the decade advanced, it became increasingly clear that the utility industry was on the brink of major changes. In late 1992 Congress passed the Energy Policy Act, which allowed competition in the utility industry's wholesale sector by mandating existing utilities to transmit electricity generated by other producers through their lines. The company received yet another setback on Christmas Day 1993, when a turbine generator fire at Fermi 2 caused the high-production plant to close while repairs were made. The plant returned to partial service in 1995, as the company posted sales of $3.64 billion against net income of $406 million.
The Federal Energy Regulatory Commission issued a new set of rules in April 1996 that affected transmission capacity, wholesale and retail competition, and other issues. The following year the industry was deregulated when Congress repealed the Public Utility Holding Company Act of 1935, which had allowed utility companies such as Detroit Edison to operate as monopolies. Under the new federal law, the shift to a fully competitive industry could be phased in over a period of as little as two years. Where its primary concern had been to produce power and expand and maintain its plants and equipment, Detroit Edison now looked to its economic structure, further streamlining costs in preparation for battling competition on a level playing field.
To supplement the new federal legislation, the MPSC designed a framework for the gradual restructuring of Michigan's electricity business. Beginning July 1, 1997, the state's utility load would be gradually opened to competition through a bidding process, with all customers able to select their energy supplier by January 1, 2002. Technical, environmental, and business-related issues would also be addressed and responded to during this five-year period.
In response to these industry-wide changes, Detroit Edison was reorganized in late 1995. On January 1, 1996, DTE Energy Company became the holding company for subsidiaries that included Detroit Edison and several non-utility assets, among them Biomass Energy Systems, Edison Energy Services, and Midwest Energy Resources. The new structure allowed the company greater financial flexibility in creating new energy-related businesses and separated regulated subsidiaries from those not under state or federal regulations.
The biggest challenge facing DTE and CEO John E. Lobbia in a competitive market was the company's high cost of production, as well as the huge investment the company had made in its Fermi 2 plant. With deregulation and competition from other providers, electrical rates would be sure to drop drastically, and DTE feared it would be priced out of the market it had controlled for decades. In preparation for full-scale deregulation in 2002, DTE strong-armed its major commercial and industrial electricity customers--including the Big Three automakers--into 10-year contracts in order to help recover the company's high capital equipment costs. These capital costs would also diminish as a result of debt refinancing through the Michigan Legislature's approval of the issuance rate-reduction bonds in mid-1997.
DTE also began to leverage its extensive expertise in energy-related systems' engineering and installation. In an effort to increase consumption and attract new residential customers, new programs were developed, including an interruptible air conditioning program that promised to improve system management and also lower electricity rates by up to 20 percent. Over 250,000 customers were enrolled in the system in its first years of operation.
Continuing Its Commitment to Consumers in a Changing Climate
In addition to navigating in a changing business climate, DTE has continued its support of the communities that it serves, providing funding and other support to over 30 schools in the metropolitan Detroit area in tandem with other business and community leaders. Educational programs are aimed at teaching younger children how to use electricity safely, and DTE's The Heat and Warmth Fund (THAW) helps low-income families and the elderly pay their winter utility bills by matching company funds with those donated by generous electricity customers.
In addressing its portion of the upcoming statewide rate decrease to electric customers&mdash′edicted at $300 million--DTE remained guardedly optimistic. "The challenge will be for all of us to work together constructively to create a competitive utility environment in a way that meets the needs of all interests--our customers, our communities, our company and our state," president and chief operating officer Anthony F. Earley Jr. told the MPSC in early 1997. "The effort will require courage, foresight and trust." By continuing to implement its four-tiered strategy--debt reduction, investment recovery, divestiture of underperforming holdings, and broadening investment in non-utilities--DTE Energy intends to reward both its customers and shareholders in a deregulated industry.
Principal Subsidiaries: Detroit Edison; DE Energy Services, Inc.; Midwest Energy Resources Company; St. Clair Energy Corporation; Edison Illuminating Company; SYNDECO, Incorporated; UTS Systems, Inc.
OVERALL
Beta: 0.67
Market Cap (Mil.): $8,714.56
Shares Outstanding (Mil.): 169.35
Annual Dividend: 2.24
Yield (%): 4.35
FINANCIALS
DTE.N Industry Sector
P/E (TTM): 15.15 22.42 21.65
EPS (TTM): -3.71 -- --
ROI: 2.69 0.97 1.26
ROE: 8.65 2.22 2.82
Name Age Since Current Position
Earley, Anthony 61 2010 Executive Chairman of the Board
Anderson, Gerard 52 2010 President, Chief Executive Officer, Director
Meador, David 54 2004 Chief Financial Officer, Executive Vice President
Norcia, Gerardo 48 2007 Group President; President, Chief Operating Officer of MichCon
Kurmas, Steven 55 2008 Group President; President and Chief Operating Officer of Detroit Edison
Ellyn, Lynne 59 2001 Senior Vice President, Chief Information Officer
Peterson, Bruce 54 2002 Senior Vice President, General Counsel
Hillegonds, Paul 62 2005 Senior Vice President
Oleksiak, Peter 44 2007 Vice President, Chief Accounting Officer, Controller
Steward, Larry 58 2001 Vice President
Muschong, Lisa 41 2010 Corporate Secretary
Lobbia, John 69 1988 Director
Bauder, Lillian 71 1986 Independent Director
Gilmour, Allan 75 1995 Independent Director
Miller, Eugene 73 1989 Independent Presiding Director
Pryor, Charles 66 1999 Independent Director
Hennessey, Frank 72 2001 Independent Director
McGovern, Gail 59 2003 Independent Director
Robles, Josue 65 2003 Independent Director
Vandenberghe, James 61 2006 Independent Director
Fountain, W. Frank 66 2007 Independent Director
Shaw, Ruth 63 2008 Independent Director
Murray, Mark 56 2009 Independent Director
Brandon, David 58 2010 Independent Director
Statistics:
Public Company
Incorporated: 1903 as Detroit Edison Company
Employees: 8,526
Sales: $3.65 billion (1996)
Stock Exchanges: New York Midwest
SICs: 4911 Electrical Services; 4931 Electrical and Other Services; 6719 Holding Company, Not Elsewhere Classified
Address:
2000 Second Avenue
Detroit, Michigan 48226-1279
U.S.A.
DTE Energy's largest operating subsidiaries are Detroit Edison, an investor-owned electric utility serving 2.1 million customers in Southeastern Michigan, and Michigan Consolidated Gas Co. (MichCon), a natural gas utility serving 1.2 million customers in Michigan.
The name "DTE" is taken from the stock symbol for Detroit Edison, DTE.
DTE Energy Company (DTE Energy), incorporated in 1995, is a diversified energy company. The Company’s utility operations consist of The Detroit Edison Company (Detroit Edison) and Michigan Consolidated Gas Company (MichCon). The Company operates in four segments that are engaged in a variety of energy-related business. Detroit Edison is engaged in the generation, purchase, distribution and sale of electricity to approximately 2.1 million customers in south-eastern Michigan. MichCon is engaged in the purchase, storage, transmission, gathering, distribution and sale of natural gas to approximately 1.2 million customers throughout Michigan. Its other segments are engaged in gas pipelines and storage; unconventional gas and oil project development and production; power and industrial projects, and energy marketing and trading operations. During the year ended December 31, 2010, DTE Energy sold some of the non-strategic rail services.
Electric Utility
The Electric Utility segment consists of Detroit Edison. The generating plants are regulated by numerous federal and state governmental agencies. Electricity is generated from its fossil plants, a hydroelectric pumped storage plant and a nuclear plant, and is purchased from electricity generators, suppliers and wholesalers. The electricity produced and purchased is sold to residential, commercial and industrial customers, principally throughout south-eastern Michigan. Detroit Edison owns generating plants and facilities that are located in the State of Michigan.
Gas Utility
The Gas Utility segment consists of the MichCon and Citizens. Citizens distributes natural gas in Adrian, Michigan, to approximately 17,000 customers. Its Gas Utility segment includes gas sales, end user transportation, intermediate transportation, and storage and other. Gas sales include the sale and delivery of natural gas primarily to residential and small-volume commercial and industrial customers. End user transportation includes gas delivery service provided primarily to commercial and industrial customers. Intermediate transportation includes gas delivery service provided to producers, brokers and other gas companies that own the natural gas. Storage and other includes revenues from gas storage, appliance maintenance, facility development and other energy-related services.
The Company’s gas distribution system has a daily send-out capacity of 2.4 billion cubic feet of gas, with approximately 65% of the volume coming from underground storage, during 2010. The Company purchases natural gas supplies in the open market by contracting with producers and marketers, and maintains a diversified portfolio of natural gas supply contracts. It obtains natural gas supply from Gulf Coast, Mid-Continent, Canada and Michigan. The Company owns distribution, storage and transportation properties that are located in the State of Michigan. Its distribution system includes approximately 19,000 miles of distribution mains, approximately 1,036,000 service lines and approximately 1,319,000 active meters.
The Company owns approximately 2,000 miles of transmission lines that deliver natural gas to the distribution districts and interconnect its storage fields with the sources of supply and the market areas. It owns properties relating to four underground natural gas storage fields with an aggregate working gas storage capacity of approximately 134 billion cubic feet of gas. In addition, the Company sells storage services to third parties. It owns 602 miles of transportation and gathering (non-utility) pipelines in the northern lower peninsula of Michigan. DTE Energy leases a portion of its pipeline system to the Vector Pipeline Partnership, through a capital lease arrangement.
Gas Storage and Pipelines
Gas Storage and Pipelines owns partnership interests in two interstate transmission pipelines and two natural gas storage fields. The pipeline and storage assets are primarily supported by long-term and fixed-price revenue contracts. The Company has a partnership interest in the Vector Pipeline (Vector) and an interstate transmission pipeline, which connects Michigan to Chicago and Ontario. It also holds partnership interests in Millennium Pipeline Company, which indirectly connects southern New York State to Upper Midwest/Canadian supply, while providing transportation service into the New York City markets. The Company has storage assets in Michigan, which stores upto 90 billion cubic feet in natural gas storage fields located in Southeast Michigan. The Washington 10 and 28 storage facilities are storage fields having bi-directional interconnections with Vector Pipeline and MichCon, providing its customers access to the Chicago, Michigan, other Midwest and Ontario markets. Its customers include various utilities, pipelines, producers and marketers.
Unconventional Gas Production
The Company’s Unconventional Gas Production business is engaged in natural gas exploration, development and production within the Barnett shale in north Texas. During 2010, the Company’s total net acreage position was 70,246 acres and produced approximately five billions of cubic feet equivalents of natural gas.
Power and Industrial Projects
Power and Industrial Projects consist of projects that deliver energy products and services to industrial, commercial and institutional customers; provide coal transportation and marketing, and sell electricity from biomass-fired energy projects. This business segment provides services using project assets located on or near the customer’s premises in the steel, automotive, pulp and paper, airport and other industries. The Company produces metallurgical coke from two coke batteries with a capacity of 1.4 million tons per year. It has an investment in a third coke battery with a capacity of 1.2 million tons per year. It also provides pulverized coal and petroleum coke to the steel, pulp and paper, and other industries. The Company provides power generation, steam production, chilled water production, wastewater treatment and compressed air supply to industrial customers.
DTE Energy owns and operates three biomass-fired electric generating plants with a capacity of 133 megawatts. It also owns two coal-fired power plants, one gas-fired peaking electric generating plant. It develops landfill gas recovery systems that capture the gas and provide local utilities, industry and consumers. The Company’s coal services business provides coal transportation and related services, including fuel to its customers with energy requirements, which include electric utilities, merchant power producers, integrated steel mills and industrial companies. It owns and operates a coal transloading terminal, which provides storage and blending for its customers. DTE Energy delivers reduced emission fuel to utilities with coal-fired electric generation power plants. The Company owns and operates five facilities that process raw coal into reduced emission fuel resulting in reductions in nitrogen oxide (NO) and mercury (Hg) emissions.
Energy Trading
Energy Trading focuses on physical and financial power, gas marketing and trading, structured transactions, improvement of returns from DTE Energy’s asset portfolio, optimization of contracted natural gas pipeline transportation and storage, power transmission and generating capacity positions. Energy Trading also provides natural gas, power and ancillary services to various utilities, which include the management of associated storage and transportation contracts on the customer’s behalf. The customer base includes the utilities, local distribution companies, pipelines, and other marketing and trading companies. Energy Trading also provides commodity risk management services to the other businesses within DTE Energy.
Corporate and Other
The Corporate and Other includes various holding company activities. The Company holds non-utility debt and energy-related investments.
Into the mid-1990s, Michigan's economy and state policy continued to be uncertain as its basic industries struggled to compete with foreign manufacturers. In addition, a new governor was redefining state goals. For these reasons, Detroit Edison continued to minimize staff levels, reduce its use of foreign crude, and cut its dependence on industrial sales, thereby maximizing the company's flexibility. Net income in 1993 reflected these efforts: $588 million, a jump of 14 percent over 1990's record levels.
As the decade advanced, it became increasingly clear that the utility industry was on the brink of major changes. In late 1992 Congress passed the Energy Policy Act, which allowed competition in the utility industry's wholesale sector by mandating existing utilities to transmit electricity generated by other producers through their lines. The company received yet another setback on Christmas Day 1993, when a turbine generator fire at Fermi 2 caused the high-production plant to close while repairs were made. The plant returned to partial service in 1995, as the company posted sales of $3.64 billion against net income of $406 million.
The Federal Energy Regulatory Commission issued a new set of rules in April 1996 that affected transmission capacity, wholesale and retail competition, and other issues. The following year the industry was deregulated when Congress repealed the Public Utility Holding Company Act of 1935, which had allowed utility companies such as Detroit Edison to operate as monopolies. Under the new federal law, the shift to a fully competitive industry could be phased in over a period of as little as two years. Where its primary concern had been to produce power and expand and maintain its plants and equipment, Detroit Edison now looked to its economic structure, further streamlining costs in preparation for battling competition on a level playing field.
To supplement the new federal legislation, the MPSC designed a framework for the gradual restructuring of Michigan's electricity business. Beginning July 1, 1997, the state's utility load would be gradually opened to competition through a bidding process, with all customers able to select their energy supplier by January 1, 2002. Technical, environmental, and business-related issues would also be addressed and responded to during this five-year period.
In response to these industry-wide changes, Detroit Edison was reorganized in late 1995. On January 1, 1996, DTE Energy Company became the holding company for subsidiaries that included Detroit Edison and several non-utility assets, among them Biomass Energy Systems, Edison Energy Services, and Midwest Energy Resources. The new structure allowed the company greater financial flexibility in creating new energy-related businesses and separated regulated subsidiaries from those not under state or federal regulations.
The biggest challenge facing DTE and CEO John E. Lobbia in a competitive market was the company's high cost of production, as well as the huge investment the company had made in its Fermi 2 plant. With deregulation and competition from other providers, electrical rates would be sure to drop drastically, and DTE feared it would be priced out of the market it had controlled for decades. In preparation for full-scale deregulation in 2002, DTE strong-armed its major commercial and industrial electricity customers--including the Big Three automakers--into 10-year contracts in order to help recover the company's high capital equipment costs. These capital costs would also diminish as a result of debt refinancing through the Michigan Legislature's approval of the issuance rate-reduction bonds in mid-1997.
DTE also began to leverage its extensive expertise in energy-related systems' engineering and installation. In an effort to increase consumption and attract new residential customers, new programs were developed, including an interruptible air conditioning program that promised to improve system management and also lower electricity rates by up to 20 percent. Over 250,000 customers were enrolled in the system in its first years of operation.
Continuing Its Commitment to Consumers in a Changing Climate
In addition to navigating in a changing business climate, DTE has continued its support of the communities that it serves, providing funding and other support to over 30 schools in the metropolitan Detroit area in tandem with other business and community leaders. Educational programs are aimed at teaching younger children how to use electricity safely, and DTE's The Heat and Warmth Fund (THAW) helps low-income families and the elderly pay their winter utility bills by matching company funds with those donated by generous electricity customers.
In addressing its portion of the upcoming statewide rate decrease to electric customers&mdash′edicted at $300 million--DTE remained guardedly optimistic. "The challenge will be for all of us to work together constructively to create a competitive utility environment in a way that meets the needs of all interests--our customers, our communities, our company and our state," president and chief operating officer Anthony F. Earley Jr. told the MPSC in early 1997. "The effort will require courage, foresight and trust." By continuing to implement its four-tiered strategy--debt reduction, investment recovery, divestiture of underperforming holdings, and broadening investment in non-utilities--DTE Energy intends to reward both its customers and shareholders in a deregulated industry.
Principal Subsidiaries: Detroit Edison; DE Energy Services, Inc.; Midwest Energy Resources Company; St. Clair Energy Corporation; Edison Illuminating Company; SYNDECO, Incorporated; UTS Systems, Inc.
OVERALL
Beta: 0.67
Market Cap (Mil.): $8,714.56
Shares Outstanding (Mil.): 169.35
Annual Dividend: 2.24
Yield (%): 4.35
FINANCIALS
DTE.N Industry Sector
P/E (TTM): 15.15 22.42 21.65
EPS (TTM): -3.71 -- --
ROI: 2.69 0.97 1.26
ROE: 8.65 2.22 2.82
Name Age Since Current Position
Earley, Anthony 61 2010 Executive Chairman of the Board
Anderson, Gerard 52 2010 President, Chief Executive Officer, Director
Meador, David 54 2004 Chief Financial Officer, Executive Vice President
Norcia, Gerardo 48 2007 Group President; President, Chief Operating Officer of MichCon
Kurmas, Steven 55 2008 Group President; President and Chief Operating Officer of Detroit Edison
Ellyn, Lynne 59 2001 Senior Vice President, Chief Information Officer
Peterson, Bruce 54 2002 Senior Vice President, General Counsel
Hillegonds, Paul 62 2005 Senior Vice President
Oleksiak, Peter 44 2007 Vice President, Chief Accounting Officer, Controller
Steward, Larry 58 2001 Vice President
Muschong, Lisa 41 2010 Corporate Secretary
Lobbia, John 69 1988 Director
Bauder, Lillian 71 1986 Independent Director
Gilmour, Allan 75 1995 Independent Director
Miller, Eugene 73 1989 Independent Presiding Director
Pryor, Charles 66 1999 Independent Director
Hennessey, Frank 72 2001 Independent Director
McGovern, Gail 59 2003 Independent Director
Robles, Josue 65 2003 Independent Director
Vandenberghe, James 61 2006 Independent Director
Fountain, W. Frank 66 2007 Independent Director
Shaw, Ruth 63 2008 Independent Director
Murray, Mark 56 2009 Independent Director
Brandon, David 58 2010 Independent Director
Statistics:
Public Company
Incorporated: 1903 as Detroit Edison Company
Employees: 8,526
Sales: $3.65 billion (1996)
Stock Exchanges: New York Midwest
SICs: 4911 Electrical Services; 4931 Electrical and Other Services; 6719 Holding Company, Not Elsewhere Classified
Address:
2000 Second Avenue
Detroit, Michigan 48226-1279
U.S.A.