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DTE Energy says rates will go down due to new tax reform

Posted: 7:54 AM, Jan 23, 2018
Updated: 2018-01-23 12:54:46Z

DTE Energy announced that rates in Michigan will go down due to the recent tax reform signed into law before the end of the year.

According to DTE, the passage of the Federal Tax Cuts and Jobs Act will offer benefits to energy companies across the country, including DTE customers in Michigan.

"The reduction in the corporate tax rate will result in lower bills for DTE's 2.2 million electric and 1.3 million gas customers," the company said in a statement.

This year, DTE says there will be a savings of around $190 million.

According to the company, the average customer will see a reduction around three percent.

"The reduction in rates due to the tax law change will be a significant infusion into the Michigan economy as our customers will enjoy this benefit for years to come," the company said.