DETROIT, May 15 MI-DTE-Energy-Policy
DETROIT, May 15 /PRNewswire-FirstCall/ -- DTE Energy officials told the
company's shareholders today that energy policy initiatives, including
Michigan's energy reform legislation, will shape the state's and the nation's
energy and environmental agenda for decades to come.
A growing demand for electricity, combined with an aging energy
infrastructure, will lead to a need for new baseload power plant construction
at a cost of more than $400 billion nationally, said Anthony F. Earley Jr.,
DTE Energy chairman and CEO.
In Michigan, at least one new baseload plant will be needed by 2015 and up
to nine new plants by 2025, according to the Michigan 21st Century Energy
Plan. Nationally, Earley cited The Energy Information Agency, which estimates
that 50 additional nuclear plants, 93 wind farms, 279 natural gas plants and
261 new coal plants will be required by 2030 just to keep the same mix of
fuels currently powering the country.
"DTE Energy is working hard to shape the national energy policies that
will affect our industry, our company and our customers for years to come,"
Earley said. "At the same time, we're working diligently to craft a state
energy policy that will allow Michigan utilities to succeed in investing in
new generation and electric infrastructure as we grapple with the challenges
of climate change."
In addition, Earley pointed to the need for billions of dollars of
investment nationally to reinforce today's electric and gas infrastructures.
"The bottom line is that America's utilities are about to enter a period
of renewal unlike anything we've seen since the post World War II years. And
as we grow, we must minimize our impact on the environment and keep costs
affordable."
Gerard M. Anderson, DTE Energy president and chief operating officer, also
emphasized how legislation will affect the company's future on many levels.
Anderson said the comprehensive energy legislation approved by the
Michigan House of Representatives last month will ensure a clean, affordable
and reliable electric supply well into the future, but the state Senate needs
to act now and send a completed bill to the governor.
"Everyone in this room understands that our economic growth is
inextricably linked to affordable, abundant electricity," Anderson said. "But
Michigan's current, one-of-a-kind hybrid electric policy is failing.
Investment in energy efficiency, renewables, other alternative energy
technologies and baseload power plants simply will not occur until policy
changes are made to ensure that customers for whom new power generation is
constructed will still be around when that generation comes online."
Anderson urged the Senate to complete the legislative process before the
summer recess to protect the state's future.
"The 'do nothing' approach will leave Michigan ever more reliant on
volatile market-priced power from out-of-state suppliers. The 'take action'
approach will give Michigan sound new energy policy to take control of our own
energy future, attract investment, create needed jobs and ensure a balanced
and diversified energy portfolio that boasts strong energy-efficiency
programs, an array of renewable technologies and clean, affordable baseload
power plants," Anderson added.
Earley and Anderson also addressed several other critical issues and
initiatives for the company moving forward.
Anderson noted that the Michigan legislative package includes energy
efficiency programs.
"We have the experience and know-how to help residential and business
customers," Anderson said. "If legislation is adopted, we can begin
immediately to educate energy consumers so they can play a more active role in
managing their own energy expenses."
At the federal level, Earley said legislation to stop the growth of
greenhouse gas emissions will pose a challenge to the nation's electricity
generators because there is no commercially viable carbon capture technology.
A key ingredient to successfully manage climate change is the development of
new technologies.
Earley said DTE Energy intends to play a role in making those
technological breakthroughs occur.
"I'm pleased to announce a new partnership with the University of Michigan
to engage the next generation of leaders in clean energy and increase the
speed of energy innovation," Earley said. "Our goal is to drive clean energy
ideas and technologies from the research lab to commercialization. To do that,
we've made a five year, $450,000 commitment to fund the DTE Clean Energy
Prize, a new competition open to the best and brightest students and faculty
at Michigan's colleges and universities."
DTE Energy, he noted, already is stepping up to these new technologies -
subject to the passage of state energy legislation - to file an application to
build a next-generation nuclear plant at the Fermi 2 site in Newport, Mich.
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 2.2 million customers in Southeastern Michigan, MichCon, a
natural gas utility serving 1.3 million customers in Michigan and other
non-utility, energy businesses focused on power and industrial projects, coal
and gas midstream, unconventional gas production and energy trading.
Information about DTE Energy is available at www.dteenergy.com .
SOURCE DTE Energy
