Business UpdateMay 15, 2026, 04:27 PM
DTE Energy Secures Google Data Center Deal; Boosts Capital Plan to $36.5B
AI Summary
DTE Energy will meet with investors from May 17-19, 2026, to discuss its business presentation and 2026 operating earnings guidance. The company announced a new agreement with Google to serve a 1 GW data center, which is expected to provide upside to its current long-term plan, alongside the already approved 1.4 GW Oracle data center. DTE Energy also updated its five-year capital plan (2026-2030) to $36.5 billion, a significant increase from the prior plan, driven by data center development and cleaner generation investments. The company reiterated its long-term operating EPS growth target of 6%-8% through 2030, with confidence in achieving the high end of the range.
Key Highlights
- Executed agreement with Google to serve a 1 GW data center, providing upside to current long-term plan.
- Oracle 1.4 GW data center approved, with construction started and demand ramping up.
- Potential for additional ~5 GW data center load from other hyperscalers in the pipeline.
- Updated five-year capital plan (2026-2030) to $36.5 billion, up from $24 billion (2025-2029 prior plan).
- 2026 operating EPS guidance of $7.59 - $7.73, targeting the high end due to RNG tax credits.
- Long-term operating EPS growth target of 6%-8% through 2030, aiming for the high end.
- Oracle data center provides ~$300 million annual affordability benefits for existing customers.
- Google data center expected to generate ~$1.7 billion in affordability benefits over contract life.
- On track to reduce power outages by 30% and cut outage time in half by 2029.
Price Impact
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