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Business Update
August 18, 2016
EXHIBIT 99.1
Safe Harbor Statement
2
Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the EPA, FERC, MPSC, NRC,
and CFTC, as well as other applicable governmental proceedings and regulations, including any associated impact on rate structures; the
amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals, or new legislation, including legislative
amendments and retail access programs; economic conditions and population changes in our geographic area resulting in changes in demand,
customer conservation, and thefts of electricity and, for DTE Energy, natural gas; environmental issues, laws, regulations, and the increasing
costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental,
and regulatory risks associated with ownership and operation of nuclear facilities; changes in the cost and availability of coal and other raw
materials, purchased power, and natural gas; volatility in the short-term natural gas storage markets impacting third-party storage revenues
related to DTE Energy; impact of volatility of prices in the oil and gas markets on DTE Energy's gas storage and pipelines operations; impact of
volatility in prices in the international steel markets on DTE Energy's power and industrial projects operations; volatility in commodity markets,
deviations in weather, and related risks impacting the results of DTE Energy's energy trading operations; changes in the financial condition of
DTE Energy's significant customers and strategic partners; the potential for losses on investments, including nuclear decommissioning and
benefit plan assets and the related increases in future expense and contributions; access to capital markets and the results of other financing
efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term
financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for increased costs or delays in completion of
significant capital projects; changes in, and application of, federal, state, and local tax laws and their interpretations, including the Internal
Revenue Code, regulations, rulings, court proceedings, and audits; the effects of weather and other natural phenomena on operations and sales
to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, terrorism or cyber
attacks; employee relations and the impact of collective bargaining agreements; the risk of a major safety incident at an electric distribution or
generation facility and, for DTE Energy, a gas storage, transmission, or distribution facility; the availability, cost, coverage, and terms of
insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the
effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws
and their interpretation with respect to regulation, energy policy, and other business issues; contract disputes, binding arbitration, litigation, and
related appeals; and the risks discussed in our public filings with the Securities and Exchange Commission. New factors emerge from time to
time. We cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-
looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation
to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the
occurrence of unanticipated events. This presentation should also be read in conjunction with the Forward-Looking Statements section of the
joint DTE Energy and DTE Electric 2015 Form 10-K and 2016 Forms 10-Q (which sections are incorporated by reference herein), and in
conjunction with other SEC reports filed by DTE Energy and DTE Electric.
• Overview
• Long-Term Growth Update
• Summary
3
DTE Energy’s growth is driven by strong, stable utilities
and complementary non-utility businesses
4
DTE Electric
• Electric generation
and distribution
• 2.2 million customers
DTE Gas
• Natural gas
transmission, storage
and distribution
• 1.2 million customers
Complementary Non-Utility Businesses Strong, Stable and Growing Utilities
Fully Regulated by Michigan Public Service Commission
Gas Storage & Pipelines
• Transport and store natural gas
• 4 pipelines, 2 storage sites
Power & Industrial Projects
• Own and operate energy related
assets
• 66 sites, 17 states
Energy Trading
Generates economic value and
provide strategic benefits
~80% of total earnings ~20% of total earnings
DTE’s earnings are ~95% regulated or contracted, consisting of electric and gas utilities,
FERC regulated pipelines and long-term contracted energy projects
Our business strategy is fundamental to how we create
value for our investors
5
5% - 6% Annual
EPS Growth
Attractive
Dividend
Strong
Balance Sheet
Utility growth plan driven by infrastructure
investments
Strategic and transparent growth opportunities
in non-utility businesses provide diversity in
earnings and geography
Constructive regulatory structure and continued
cost savings enable utilities to earn their
authorized returns
Operational excellence and customer
satisfaction that are distinctive in our industry
Strong BBB credit rating; grow dividends with
earnings
$4.82
$2.35
$2.48
$2.62
$2.76
$2.92
$3.08
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Raised 2016 operating EPS* guidance to a midpoint
of $5.05
6 * Reconciliation to GAAP reported earnings included in the appendix
(dollars per share)
Operating
EPS
Dividend
(Annualized)
Actuals Forecast
Dividend per
share 5.6%
CAGR
2011 – 2015
$3.75
$5.05
5.5% increase
Operating EPS
6.5% CAGR
2011 – 2015
2016 Operating EPS
Guidance Midpoint
Growth segments $4.97
Total DTE Energy $5.05
Original guidance $4.93
$4.93
• Overview
• Long-Term Growth Update
• Summary
7
~$13
$8.2 Distribution infrastructure,
maintenance, new generation
$1.6 Base investments, infrastructure
renewal, NEXUS related
$2.0-$2.6 Gathering investments, NEXUS,
pipeline expansions
$0.6-$0.9 Cogeneration, on-site energy
2016 – 2020
Current Plan
8
~$10
2011 – 2015
Actual
P&I
GSP
Gas
Electric
Distribution and generation infrastructure improvements
drive capital investments through 2020
(billions)
Electric generation and infrastructure renewal will
significantly increase investment in the decade ahead
32%
DTE Electric Investment
$8.2
$9.7
2016-2020 2021-2025
$7.1
2011-2015
New generation
Distribution
infrastructure
9
Maintenance
and other
projects
(billions)
~$18 billion
next 10 years
The electric company started serving its first customers in 1886
DTE Electric has already begun to retire its coal-fired
generation
10 Note: Estimated amounts. Timing and mix of generation impacted by MISO capacity requirements and Michigan and EPA policies
2030
Scenario
55%
2015
20%
15%
12.4
25%
15%-30%
15% Nuclear/Other
Gas
Renewables
Coal
10%
30%-45%
Electric Capacity Shift
(GW)
12 - 13
2015 - 2016
2017 - 2020
2021 - 2025
2026 - 2030
Coal-fired Generation Retirement Timeline
(MW)
Total
Retirements
• Trenton Channel 7
• Trenton Channel 8
• River Rouge 2
275
375
1,850
1,000
3,500
• Trenton Channel 9
• River Rouge 3
• St. Clair (6 units)
Strengthening and expanding our gas infrastructure
will reduce leaks and lost gas while creating and
supporting Michigan jobs
11
2011-2015 2016-2020
$1.1
$1.6
DTE Gas Investment
Base infrastructure
Infrastructure renewal
NEXUS related
(billions)
• $200 million through 2017
• Primarily additional compression
• Supported by long-term transport
agreement with NEXUS
• Main renewal
• Meter move-out
• Pipeline integrity
• Transmission
• Compression
• Distribution
• Storage
The gas company was formed in 1849 and started lighting the streets of
Detroit with gas in 1851
12
Gas Storage & Pipelines has an asset portfolio with
multiple growth platforms
NEXUS Pipeline
DTE
Gas DTE Storage
Marcellus
Shale
Utica
Shale
Bluestone
Pipeline
Bluestone
Gathering System
Michigan
Gathering
Millennium
Pipeline
Vector Pipeline (40%)
• Bi-directional pipe
• Firm capacity/demand-based contracts
1.3 Bcf/d
Millennium Pipeline (26.25%)
• 0.1 Bcf/d lateral expansion 2Q17
• 0.2 Bcf/d expansion 2H18
• Firm capacity/demand-based contracts
1.0 Bcf/d*
Bluestone Pipeline & Gathering
• Bi-directional pipe
• 0.1 Bcf/d expansion 4Q16
• Firm capacity/demand-based contracts
• Gathering is minimum volume based
1.0 Bcf/d*
NEXUS Pipeline (50%)
• 4Q17 in-service
• Firm capacity/demand-based contracts
1.5 Bcf/d
GSP Gas Storage
• Strategically located between
Chicago and Dawn trading hubs
91 Bcf
* Includes expansions
13
NEXUS project is progressing and originates in the
most economical geology in the country
Natural Gas LDC
Industrial Customer
Power Generation
Marcellus
/ Utica Dry
Gas Core
DTE
Gas
Vector
• Project on track for 4th quarter 2017 in-
service
• FERC Notice of Schedule issued 2nd
quarter 2016
• Draft Environmental Impact Statement
(EIS) received on July 8, 2016
• Final EIS expected by November 30,
2016
• FERC certificate of construction
expected within 90 days of final EIS
• Right of way acquisitions and detailed
engineering progressing
• Constructive work with FERC and other
regulatory agencies continues
Power & Industrial Projects operates within three distinct
business lines in 17 states
DTW Airport,
Michigan
Gallia Fuels
Project, Ohio
Mt. Poso Waste Wood
Project, California
• On-site utility services
for industrial and
commercial customers
• Coke and pulverized
coal for steel
customers
• Wood-fired power
plants
• Landfill gas to energy
projects
• Projects reduce
emissions from coal-
fired plants
• Utility contracted
Industrial Energy
Services
Renewable Energy
Reduced Emissions
Fuel (REF)
14
Current duration* ~6+ years Current duration* ~15 years Current duration ~5 years
Typical contract 5-20 years Typical contract 10-25 years
* Current duration does not include expected contract extensions
• Overview
• Long-Term Growth Update
• Summary
15
• Raised 2016 operating EPS* guidance by $0.12...
...in light of strong year-to-date performance
• Increased dividend for 7th consecutive year...
...as we continue to grow dividends with earnings
• Investing in utilities and strategic growth opportunities in our non-utility businesses...
...providing consistent 5% to 6% annual EPS growth
• Retiring coal plants and replacing with a combination of gas and renewables...
...paving the way to cleaner energy by significantly reducing emissions
• Maintaining strong cash flow and balance sheet...
...supporting our future growth opportunities
16 * Reconciliation to GAAP reported earnings included in the appendix
Summary
DTE Energy Investor Relations
www.dteenergy.com/investors
(313) 235-8030
17
Contact Us
Appendix
19
Financial performance
Strong year-to-date financial results
2016 operating EPS* guidance raised
7th consecutive year with a dividend increase
Regulatory framework
New commissioner appointed to MPSC
Regulatory proceedings progressing in a constructive manner,
including a supportive position regarding NEXUS
Operations
DTE Electric ranked 2nd in Midwest for residential customer satisfaction**
Year to date safety performance best in company’s history
NEXUS project on track for 4th quarter 2017 in-service
* Reconciliation to GAAP reported earnings included in the appendix
We continue to make progress on many fronts
** J.D. Power 2016 Electric Utility Residential Customer Satisfaction Study(sm)(large providers). Visit jdpower.com
20
Energy legislation continues to move forward
• Key provisions include
− Capacity requirements for all electricity
providers
− Integrated resource planning pre-
approval process
− Energy efficiency related incentives and
revenue decoupling
• 2008 law works well and includes
− 10% retail open access cap
− Certificate of Need for large capital
projects
− 12 month final order; 6 month rate case
self implementation
− 10% renewable portfolio standard
DTE Energy’s 5% to 6% growth is not dependent on new energy legislation
Proposed Legislation 2008 Law
...DTE customers would benefit from new capacity and reliability requirements
* Reconciliation to GAAP reported earnings included in the appendix
** Total DTE Energy excluding Energy Trading
2016
Original
Guidance
DTE Electric
DTE Gas
Gas Storage & Pipelines
Power & Industrial Projects
Corporate & Other
Growth segments**
Growth segments operating EPS
Energy Trading
DTE Energy
Operating EPS
Avg. Shares Outstanding
$4.80 - $5.05
$4.80 - $5.05
$584 - $600
135 - 141
105 - 115
90 - 100
(50) - (46)
$864 - $910
0
$864 - $910
180
(millions, except EPS)
21
Increased our 2016 operating EPS* guidance
2016
Revised
Guidance
$4.85 - $5.08
$4.91 - $5.19
$589 - $605
135 - 141
110 - 115
90 - 100
(50) - (46)
$874 - $915
10 - 20
$884 - $935
180
Capital Expenditures Summary
YTD
2015
YTD
2016
DTE Electric
Distribution Infrastructure $288 $224
New Generation 253 55
Maintenance & Other 364 361
$905 $640
DTE Gas
Base Infrastructure $82 $93
Nexus Related - 14
Main Replacement** 35 50
$117 $157
Non-Utility $146 $184
Total $1,168 $981
(millions)
** Includes Main Renewal / Meter Move-out / Pipeline Integrity 22
Cash Flow Summary
YTD
2015
YTD
2016
Cash From Operations* $1.2 $1.3
Capital Spending (1.2) (1.0)
Free Cash Flow $0.0 $0.3
Asset Sales & Other 0.1 -
Dividends (0.2) (0.3)
Net Cash ($0.1) $0.0
Debt Financing:
Issuances $0.8 $0.6
Redemptions (0.5) (0.6)
Change in Debt $0.3 $0.0
(billions)
* Includes ~$0.2b and $0 of equity issued for employee benefit programs in 2015 and
2016, respectively
2016 Cash Flow and Capital Guidance
25%
21%
2014 2015 2016-2018E
51% 52%
2014 2015 2016-2018E
Leverage*
A strong balance sheet remains a key priority
to support growth
* Debt excludes securitization, a portion of DTE Gas’ short-term debt, and considers 50% of the Junior Subordinated Notes as equity
Funds from Operations** / Debt*
Target
50%- 53%
Target
20% +
• Strong year-to-date cash performance;
2016 financing plan is on track
− $100 million equity issuance possible,
but may not be necessary
• Target $200 to $300 million total equity
issuances over the next 3 years
• Successfully extended the existing
$1.9 billion credit facilities to 2021
− $1.8 billion of available liquidity as of
June 30, 2016
• Maintain strong balance sheet metrics
23
** Funds from Operations (FFO) is calculated using operating earnings
DTE targets total shareholder returns of 8-10%
24
* Source: Bloomberg (as of 6/30/16)
2009 2010 2011 2012 2013 2014 2015 2016
Annualized Dividend per Share
$2.12
$3.08
140%
280%
107%
184%
DTE Energy
S&P 500 Utilities
10-YR 5-YR
Total Shareholder Return (TSR)*
Top quartile
(dollars per share)
Over 100 consecutive years of
paying dividends
Total return in top quartile of S&P
Utilities for 5 and 10 years
Of the $18 billion investment over the next 10 years,
we will invest $6.5 billion on distribution infrastructure
32%
2016-2025
~$18
Maintenance
and other
projects
New
generation
Distribution
infrastructure
DTE Electric
Total Investment
25
(billions)
• $6.5 billion over next 10 years
• Potential to increase to $10.5 billion
• Replace aging infrastructure
• Address overloaded substations
• Enhance technology
Customer benefits
Reduce restoration time
Improve reliability
Decrease outages
Create and support Michigan jobs
26
Paving the way for cleaner energy for our customers
Generated/contracted enough electricity from renewable sources
to power over 400,000 homes in 2015
• Announced retirement of 2.5 GW of less-efficient
coal-fired generation
– Capacity will be retired by 2023
– Combination of baseload gas and solar/wind
renewables replace retired generation
– ~$3 billion of expected investment
• Will retire additional 1.0 GW by 2030
– Coal generation reduced by more than half
• Reducing CO2 and conventional emissions
significantly through 2030
• Purchased two natural gas combustion turbine plants
in 2015
• Developing largest utility-owned solar array east of
the Mississippi in service 1Q17
• Installed nearly 250 wind turbines
• Drove over $2 billion in renewable energy
investments over the past 5 years
Significant emissions reductions have already been
achieved and we continue on the path to clean energy
32%
27
2005 2015 2030
CO2 Emissions
16%
Reduction
2005 2015 2030
2005 2015 2030
NOX Emissions
SO2 Emissions
• Emissions reductions are largely
due to $2 billion in controls installed
at Monroe Power Plant, new
technology and reduced reliance on
coal-fired generation
• In addition, mercury emissions have
been reduced 42% since 2005 with
75% reduction expected by 2030
67%
Reduction
61%
Reduction
40%
Reduction
85%
Reduction
95%
Reduction
Average Annual Residential Bill*
DTE Electric
We remain focused on customer affordability
28
$1,223 $1,225
2012 2013 2014 2015 2016E 2017E
Average Annual Residential Bill**
DTE Gas
$910
2012 2013 2014 2015 2016E 2017E
9%
Flat
** Assumes normal weather and implementing $180 million rate increase
beginning November 2016
* Assumes average usage per year times the average residential rate per year and
implementing $344 million rate increase beginning August 2016
(dollars)
$830
DTE Electric plans $8.2 billion of investments over the
next 5 years
2015A 2016E 2017E 2018E 2019E 2020E
Distribution
infrastructure
New
generation
Maintenance
and other
projects*
2016E - 2020E
Total
$14.8B ~$19.8B YE Rate Base**
$662M ~$886M Depreciation
* Includes power reliability, existing generation maintenance, AMI, Ludington expansion and other investments
** Includes working capital and rate base associated with surcharges
$1,200
$8,200
$3,800
$3,200
$1,787
$1,550
$1,450
$1,700 $1,700
$1,800
29
Targeting 6% - 7% growth
(millions)
DTE Gas plans $1.6 billion of investments over the
next 5 years
2015A 2016E 2017E 2018E 2019E 2020E 2016E - 2020E
Total
Base
infrastructure
Main
Replacement*
NEXUS related
$1,600
$200
$600
$800
$3.3B ~$4.6B - $4.7B YE Rate Base**
$102M ~$137M Depreciation
** Includes working capital
$273
$430
$375
$265 $265 $265
30
* Includes main renewal, meter move-out and pipeline integrity
Targeting 7% - 8% growth
(millions)
0
5
10
15
20
25
30
2010 2015 2020 2025
2016
Forecast
Utica / SW Marcellus Supply Growth
(Bcf/d)
Actuals
2012
Forecast
2013
Forecast
2014
Forecast
2015
Forecast
Strong results from the Utica and Marcellus region are
increasing expectations for the basin
31 Source: IHS CERA
US Shale Basin Economics
(NYMEX Gas Price Required for 15% After-Tax IRR)
$ / MMBtu
$2 $4 $5 $0
Marcellus – NE Core
Utica – Dry Gas
Utica – Wet Gas
Marcellus – SW
$3 $1
Source: Credit Suisse February 2016 report
Interconnect agreements provide strong support on the
NEXUS path up to 1.75 Bcf/d
32
Gas Storage & Pipelines is focused on continued
success in pipeline and gathering
• Accelerated Marcellus development
in 2015 delivered 30% year over
year earnings growth
• Earnings growth driven by both
pipeline and gathering platforms
• Assessing investment opportunities
given current sector dynamics
Near-Term
• Current sector dynamics not
expected to impact targets
• Growth driven by
– Further Millennium and
Bluestone development
– NEXUS project operational
and potential expansions
– Bolt on acquisitions to
complement existing assets
Long-Term
Operating earnings*
2015 Actual
$107 million
2016 Guidance
$110-115 million
Operating earnings*
2020 Target
$170 million
Capital investment
2016-2020
$2.0-2.6 billion
* Reconciliation to GAAP reported earnings included in the appendix 33
Power & Industrial Projects is focused on replacing
REF earnings over the 5 year outlook
• 2016 earnings in line with
2015 actuals
• Higher REF earnings offset
by lower steel related
earnings
Near-Term
• Grow cogeneration portfolio
• Pursue strategic asset
acquisitions
• Maximize REF opportunities
Long-Term
Operating earnings*
2015 Actual
$95 million
2016 Guidance
$90-100 million
* Reconciliation to GAAP reported earnings included in the appendix 34
Operating earnings*
2020 target
$105 million
Capital investment
2016-2020
$0.6-0.9 billion
8.5%
7.1%
5.4% 4.8% 4.9%
2013 2014 2015 2016E 2017E
Michigan’s economy continues to improve
35 Source: IHS
15.1 15.8
18.6
21.4 22.6
2013 2014 2015 2016E 2017E
Unemployment Rate
Housing Start Ups
(000s)
$407 $414
$419 $425
$432
2013 2014 2015 2016E 2017E
Gross State Product
(billions)
Top decile in Gross Domestic
Product five year growth***
Unemployment below national
rate
7th most competitive state for job
creation****
Most new manufacturing jobs
since 2009*
Ranked Top 10 in pro-business
50 state rankings**
**** Source: Site Selection magazine
* Source: State of Michigan website
** Source: Pollina Corporate/Aedi Pro-Business 50 State Rankings
*** Source: Bureau of Economic Analysis, real GDP 2009 chained dollars (2009-2014)
Filed December 18, 2015 Filed February 1, 2016
DTE Gas - 2015
Docket U-17999*
DTE Electric - 2016
Docket U-18014*
DTE rate case highlights
• Requested rate recovery: $183 million
• Test year: November 1, 2016 to October
31, 2017
• Return on Equity: 10.75%
• Self implement*: $103 million on or after
November 1, 2016
• Briefs: July 27, 2016
• Proposal for decision: October 5, 2016
• MPSC order: on or before December 17,
2016
• Requested rate recovery: $344 million
• Test year: August 1, 2016 to July 31, 2017
• Return on Equity: 10.5%
• Self implement: $245 million August 1,
2016
• Briefs: September 16, 2016
• Proposal for decision: November 21,
2016
• MPSC order: on or before January 31,
2017
36 * Excludes $41m of IRM surcharges
Dates may be subject to change
2011 – 2015 Full Year
Reconciliation of Reported to Operating Earnings
37
Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing
operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating
earnings to measure performance against budget and to report to the Board of Directors.
2011 2012 2013 2014 2015 2011 2012 2013 2014 2015
DTE Energy Reported Earnings 711$ 610$ 661$ 905$ 727$ 4.18$ 3.55$ 3.76$ 5.10$ 4.05$
DTE Electric
Fermi 1 asset retirement obligation 9 0.05
2011/2012 PSCR disallowance 12 0.07
Tree trimming disallowance 8 0.05
DTE Gas
Gas Storage & Pipelines
Power & Industrial Projects
Coke oven gas settlement 7 0.04
Chicago Fuels terminal sale 2 0.01
Pet coke mill impairment 1 0.01
Asset impairment 4 0.02
Contract termination 10 0.05
Plant closure 69 0.39
Energy Trading
Certain mark-to-market transactions 55 (102) 47 0.31 (0.57) 0.26
Natural gas pipeline refund (10) (0.05)
Corporate & Other
Michigan corporate income tax adj. (87) (0.50)
Investment impairment 5 0.03
NY state tax law change 8 0.04
Unconventional Gas
Discontinued operations 3 56 0.02 0.33
DTE Energy Operating Earnings 636$ 676$ 720$ 816$ 863$ 3.75$ 3.94$ 4.09$ 4.60$ 4.82$
Net Income (millions) EPS
Use of Operating Earnings Information – DTE Energy management believes that operating earnings
provide a more meaningful representation of the company’s earnings from ongoing operations and uses
operating earnings as the primary performance measurement for external communications with analysts
and investors. Internally, DTE Energy uses operating earnings to measure performance against budget
and to report to the Board of Directors.
In this presentation, DTE Energy provides guidance for future period operating earnings. It is likely that
certain items that impact the company’s future period reported results will be excluded from operating
results. A reconciliation to the comparable future period reported earnings is not provided because it is not
possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from
period to period and may have a significant impact on reported earnings.
For comparative purposes, 2011 and 2012 operating earnings exclude the Unconventional Gas Production
segment that was classified as a discontinued operation on 12/31/2012.
Reconciliation of Other Reported to Operating
Earnings
38