DTE Energy has proposed a two-year rate freeze plan that would take effect after the utility's current rate case concludes, but the company said the freeze depends on whether a 1.4GW Oracle data center comes online as expected, as well as the completion of other regulatory approvals.

"As long as the first data center project supported by DTE comes online as planned by the end of 2027 and the company obtains other regulatory approvals, DTE plans to file no new rate increase requests at least until 2028," the utility said in its second-quarter earnings report released on July 28.

DTE filed a rate increase case exceeding $470 million with the Michigan Public Service Commission in April.

The Oracle data center "remains on track, is fully approved and in the construction phase," DTE President and CEO Joi Harris said in a conference call with analysts on Tuesday. She also noted that a contract to power a 1GW Google data center has been submitted to Michigan regulators for approval.

Data snapshot： DTE Energy Q2 2026
8.4 GW
DTE's total data center pipeline, of which 2.4GW is under signed agreements, with up to 6GW in "additional opportunities."
$36.5B
DTE Energy's 2026-2030 capital investment plan, with $30 billion allocated to DTE Electric.
30%
DTE said it is on track to reduce power outages by 30% and cut outage duration in half by 2029.

In addition to the 2.4GW of agreements already signed with data centers, DTE has 2GW in deep discussions, targeting agreements by year-end, with another 3-4GW in additional pipeline. This figure is unchanged from the company's first-quarter earnings report.

DTE's 2026-2030 electric capital investment plan also remains at first-quarter levels, at $30 billion, but represents a 22% increase from the previous 2025-2029 plan of $24 billion.

According to DTE's earnings presentation materials, this $6 billion increase is "primarily driven by the Oracle data center project and other customer-focused initiatives."

"Our pipeline continues to advance and discussions are deepening, which lays a solid foundation for our future growth," Harris said. "As these projects come online, they will deliver tangible affordability benefits to existing customers, absorbing a significant portion of fixed system costs."

The utility filed its distribution system plan in April, outlining a five-year reliability and grid modernization improvement program, and plans to file its next integrated resource plan "later this quarter," which Harris said "will provide a clear path to meeting long-term generation and capacity needs."

Year-to-date earnings performance "positions us to reach the high end of this year's operating earnings per share guidance range," and "we remain confident in achieving our long-term operating EPS growth target of 6%-8% through 2030," Harris said. "We still see a clear path to hitting the high end of the guidance range each year, driven by renewable natural gas tax credits and the flexibility they provide."