Another Electric Rate Increase Push From DTE Electric

DTE Electric Company announced on Thursday that it has filed an electric rate increase request totaling $456 million with the Michigan Public Service Commission. Should it gain approval, this would translate to roughly an $11 uptick for the average monthly residential bill. The company says that these funds are needed to improve reliability.

According to The Detroit News, this rate increase request, disclosed during a roundtable interview involving several media outlets, is aimed at making the grid "smarter." This entails the installation of devices capable of quickly and accurately pinpointing power outage locations. DTE asserts that these devices could potentially “reduce power outages by 30% and halve outage durations within the next five years.”

Matt Paul, President and COO of DTE Electric, emphasized the importance of this initiative, stating, "This case is incredibly important for us to continue to do the work we need to do to build a grid of the future and continue to improve reliability in the state."

This rate increase request follows about four months after the MPSC greenlit a $368.1 million electricity rate hike for DTE in December. Initially, the company sought an increase of approximately $620 million, which was later revised downward to slightly over $580 million.

DTE plans to deploy roughly 10,000 of these devices, each potentially costing up to $100,000, inclusive of installation expenses. Paul noted at the roundtable that if approved, the increase would also support DTE's strategy of reconstructing the oldest segments of its grid, including the complete overhaul of substations and circuits.

Fox News Detroit reported that some projects DTE highlighted include converting the Belle River coal-fired power plant to natural gas and developing a large energy storage facility at the site of the Trenton Channel Power Plant, which is being demolished.

DTE customers are expressing skepticism regarding the utility's proposed rate hike. Some have taken to Reddit to voice their concerns. "Improve reliability? It's decades too late! They better not approve this," one Reddit user remarked. Another user expressed frustration, stating, "It just keeps coming." Meanwhile, another person shared their experience with DTE's "Budget-wise payment plan," saying, "Ah, so my 'budget-wise payment' that just went from $265 to $307 is about to become $349."

The rate filing initiates a 10-month process during which stakeholders provide feedback. Any approved increase would not take effect until January 2025 according to the company.

Currently, DTE Electric serves 2.3 million customers in southeast Michigan. According to their website, with an 11,084 megawatt system capacity, the company uses coal, nuclear fuel, natural gas, hydroelectric pumped storage, and renewable sources to generate its electrical output.

Do you ever feel like you're working hard but don't have the money to show for it? It's a common sentiment. Well, the good news is that today, there are some ways to make extra money right now that can really add up. Now, there's no "easy" solution to making more cash. But, we've researched some ways that people are making extra money, and they're simple.

Before we get into ways to make extra money, let's start with saving money. NerdWallet.com has some really simple tips for saving cash. A big one is to prepare for grocery shopping. That's so that you aren't grabbing a bunch of stuff that you don't need on a whim. "A little work before you go to the grocery store can go a long way toward helping you save money on groceries," they state. Prepping also means that you can maximize any coupons that you find for items you'll be purchasing or knowing about loyalty programs ahead of time. The big one is to not impulse by. I've done that so many times, when I but cinnamon rolls or something else that I don't really want just because it looks good at the time.

Another savings tip from NerdWallet.com is to restrict online shopping. Boy, that's a good one. It's so easy to sit there on your phone, saving items that look cool in your online cart. Then, all you have to do is hit "order," but often, you're ordering a bunch of stuff that you don't really need. They suggest that, "Instead of saving your billing information, opt to input your shipping address and credit card number each time you order. You'll probably make fewer impulse purchases because of the extra work involved." Good idea. Find more tips on saving money from NerdWallet.com here. Forbes has some good advice, too, in suggesting to do real meal prep. It helps avoid eating out too much, which can really add up.

Now, let's get into easy ways to make extra money.

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I've house sat quite a bit, and I personally love it. It's very peaceful to watch over someone's house. Duties-wise, it can involve anything from watering plants to just staying there so that nobody breaks in during a long vacation. Pet sitting is also a great way to make a little extra money. While you're at it, try being a dog walker, too.

Being a mystery shopper is a real thing. You can shop, either online or in person, and get paid for reviewing your experience. But, watch out for scams. A great way to find legit mystery shopper jobs is by looking on job sites such as Ziprecruiter.com or Indeed.com.

You can make money by simply taking online surveys. It's not usually a lot of money, but it's better than nothing, and you can do it during downtime. A few major survey sites include Swagbucks and Survey Junkie. Find more via NerdWallet.com here.

Self-publishing has never been so easy. If you are very knowledgeable in an area that people want to know about, why not self-publish an e-book? Using Amazon's Kindle Direct Publishing, you can sell your books via the Kindle store. Publishing the book is free, and you can earn an upwards of 70% of each sale in royalties. You can even try your hand at a wild novel and see how it does, if you don't want to write a practical book.

A quick way to make some cash during your off hours is by delivering groceries or food. Services such as Instacart and Shipt use independent contractors to deliver food to clients. Also, services such as Uber Eats and Doordash are often looking for delivery people.

It might seem odd to open a new credit card to try to make money, but it can help. Many credit cards offer new client deals, so if you spend a certain amount after signing up, you could get some cash back or other bonuses. Also, you could find a cash back card, where you get cash back on everyday purchases, such as gas or groceries. Say you don't want a new credit card? You could also open a new bank account at a bank where they are giving cash-back offers for starting business with them. Also, to get the most for your money, look for a high-interest savings.