8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________

FORM 8-K

_____________________________

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 26, 2017

Commission File Number	Exact Name of Registrant as Specified in its Charter, State of Incorporation, Address of Principal Executive Offices and Telephone Number	IRS Employer Identification No.
1-11607	DTE Energy Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-3217752
1-2198	DTE Electric Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-0478650

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under Exchange Act (17 CFR 240.12b-2).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

DTE Energy Company (DTE Energy) is furnishing the Securities and Exchange Commission (SEC) with its earnings release issued April 26, 2017, announcing financial results for the quarter ended March 31, 2017. A copy of the earnings release and the slide presentation, including supplemental financial information, are furnished as Exhibits 99.1 and 99.2 and incorporated herein by reference. In its earnings release and the slide presentation discussed below,DTE Energy reaffirms its 2017 operating earnings guidance range of $5.15 - $5.46 per share.

Item 7.01. Regulation FD Disclosure.

DTE Energy is furnishing the SEC with its slide presentation issued April 26, 2017. A copy of the slide presentation is furnished as Exhibit 99.2 and incorporated herein by reference.

In its earnings release, slide presentation and this filing, DTE Energy discusses 2017 operating earnings guidance. It is likely that certain items that impact the company's 2017 reported results will be excluded from operating results. Reconciliations to the comparable 2017 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items (i.e. future non-recurring items, certain mark-to-market adjustments and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1     Earnings Release of DTE Energy Company dated April 26, 2017.

99.2     Slide Presentation of DTE Energy Company dated April 26, 2017.

Forward-Looking Statements:

This Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the “Forward-Looking Statements” section in DTE Energy's and DTE Electric Company's (DTE Electric) 2016 Form 10-K and 2017 10-Q (which section is incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric that discuss important factors that could cause DTE Energy's and DTE Electric's actual results to differ materially. DTE Energy and DTE Electric expressly disclaim any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date: April 26, 2017
	DTE ENERGY COMPANY (Registrant)
	/s/ Peter B. Oleksiak Peter B. Oleksiak Senior Vice President and Chief Financial Officer

DTE ELECTRIC COMPANY

(Registrant)

/s/ Peter B. Oleksiak

Peter B. Oleksiak

Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit

NumberDescription

99.1    Earnings Release of DTE Energy Company dated April 26, 2017.

99.2    Slide Presentation of DTE Energy Company dated April 26, 2017.

EX-99.1

EXHIBIT 99.1

April 26, 2017

DTE Energy reports first quarter 2017 results

• Company manages largest storm in its history

• Company begins commercial operation of 50MW Pinnebog wind park

• MDOT partnership lights up Michigan freeways, bridges with 13,000 LED lights, saving taxpayers $2 million annually beginning in 2017

• Company earns fifth consecutive Gallup award for workplace excellence

DETROIT - DTE Energy (NYSE: DTE) today reported first quarter 2017 earnings of $400 million, or $2.23 per diluted share, compared with $247 million, or $1.37 per diluted share in 2016. Reported earnings were higher driven in large part by DTE Energy’s businesses outside of its utilities. The combined reported earnings at the utilities were flat.

Operating earnings for the first quarter 2017 were $322 million, or $1.79 per diluted share, compared with 2016 operating earnings of $274 million, or $1.52 per diluted share. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations and are reconciled to Reported earnings, prepared in accordance with generally accepted accounting principles (GAAP), at the end of this news release.

The company experienced the largest weather event in its more than 100-year history in early March when unseasonably warm temperatures combined with sustained tropical storm force winds gusting to 70 mph pounded Michigan for 12 hours. With 800,000 customers impacted, thousands of DTE employees along with out-of-state crews from seven states worked around the clock to restore customers.

“Given the size of this wind storm, I couldn’t be more proud of our employees and the out-of-state crews who worked so hard to restore power to our customers. We will continue to make investments to strengthen and automate our system to prevent future outages and improve the speed of our restoration efforts for customers,” said Gerry Anderson, DTE chairman and CEO.

Anderson also noted the following recent company accomplishments:

• DTE began commercial operation of its 50 megawatt Pinnebog Wind Park in Huron County, generating enough energy to power 22,000 homes. This brings the number of DTE owned or operated wind parks to 13 across Michigan. This year, the company will finish work on a $100 million solar project in Lapeer, which is the largest utility owned array in Michigan. Once this project is completed, DTE Energy's entire renewable

energy portfolio, including solar, wind and biomass, will be large enough to power 450,000 homes, or a city more than four times the size of Ann Arbor, Michigan.

• DTE Energy partnered with the Michigan Department of Transportation (MDOT) to re-light Michigan roads. The six-month project involved DTE installing more than 13,000 LED lights above Michigan freeways and overpasses. The lighting upgrade is expected to save MDOT and Michigan residents an estimated $2 million in energy costs annually beginning this year.

• DTE Energy customers will see the cost of natural gas drop nearly 9 percent in their April gas bills due to the downward trend of natural gas prices. Over the past 10 years, residential customers’ overall natural gas bills have dropped by 27 percent, or about $300 annually, as the cost for the natural gas DTE buys has declined.

• In 2016, DTE Energy gas crews replaced 140 miles of cast iron gas lines with new polyethylene lines. We are on track to meet this goal again in 2017.In total, the effort, which enhances the company’s natural gas infrastructure by increasing reliability, employs more than 300 people, either at DTE or in other Michigan-based companies.

• DTE was recognized again by the Gallup organization as a Gallup Great Workplace for the fifth consecutive year. This award is given to only a handful of companies worldwide for their extraordinary ability to create a highly engaged workplace culture. DTE remains the only utility company ever recognized by the Gallup organization.

Outlook for 2017

DTE reiterated its 2017 operating earnings per share guidance of $5.15 - $5.46.

"While our winter was warmer than expected and we experienced a historic wind storm, our continued focus on operational cost savings will allow us to achieve our financial goals and improve service levels for our customers,” said Peter Oleksiak, DTE Energy senior vice president and CFO.

This earnings announcement and the presentation slides are available at www.dteenergy.com/investors.

DTE Energy plans to conduct a conference call with the investment community hosted by Anderson at 9 a.m. ET today to discuss first quarter 2017 earnings results. Investors, the news media and the public may listen to a live internet broadcast of the call at www.dteenergy.com/investors. The telephone dial-in numbers are U.S. and Canada toll free: (888) 505-4377 or International toll: (719) 325-2390. The passcode is 9327084. The webcast will be archived on the DTE Energy website at www.dteenergy.com/investors. An audio replay of the call will be available from noon today to May 10, 2017. To access the replay, dial US and Canada toll free (888) 203-1112 or International toll (719) 457-0820 and enter passcode 9327084.

About DTE Energy

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 an electric utility serving 2.2 million customers in Southeastern Michigan and a natural gas utility serving 1.3 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.

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 release, DTE Energy discusses 2017 operating earnings guidance. It is likely that certain items that impact the company's 2017 reported results will be excluded from operating results. Reconciliations to the comparable 2017 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items (i.e. future non-recurring items, certain mark-to-market movements and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

The information contained herein is as of the date of this release. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this release as a result of new information or future events or developments. Words such as “anticipate,” “believe,” “expect,” “projected,” “aspiration” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various assumptions, risks and uncertainties. This release contains forward-looking statements about DTE Energy’s financial results and estimates of future prospects, and actual results may differ materially.

Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the EPA, the FERC, the MPSC, the NRC, and for DTE Energy, the 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, cyber crime and terrorism; 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; implementation of new information systems; 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 2016 Form 10-K and 2017 Form 10-Q (which section is incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric.

For further information, members of the media may call:

Stephanie Beres, DTE Energy, 313.235.5555

Analysts, for further information call:

Barbara Tuckfield, DTE Energy, 313. 235.1018

Joyce Leslie, DTE Energy, 313.235.3209

DTE Energy Company
Consolidated Statements of Operations (Unaudited)
	Three Months Ended
	March 31,
	2017			2016
	(In millions, except per share amounts)
Operating Revenues
Utility operations	$	1,718		$	1,664
Non-utility operations	1,518			902
	3,236			2,566
Operating Expenses
Fuel, purchased power, and gas — utility	529			565
Fuel, purchased power, and gas — non-utility	1,180			776
Operation and maintenance	600			516
Depreciation and amortization	249			229
Taxes other than income	109			99
	2,667			2,185
Operating Income	569			381
Other (Income) and Deductions
Interest expense	125			113
Interest income	(3		)	(11		)
Other income	(64		)	(52		)
Other expenses	7			8
	65			58
Income Before Income Taxes	504			323
Income Tax Expense	110			83
Net Income	394			240
Less: Net Loss Attributable to Noncontrolling Interests	(6		)	(7		)
Net Income Attributable to DTE Energy Company	$	400		$	247
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	2.23		$	1.38
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	2.23		$	1.37
Weighted Average Common Shares Outstanding
Basic	179			179
Diluted	179			180
Dividends Declared per Common Share	$	0.825		$	0.73

DTE Energy Company
Segment Net Income (Unaudited)
	Three Months Ended March 31,
	2017								2016
	Reported Earnings		Adjustments				Operating Earnings		Reported Earnings			Adjustments			Operating Earnings
	(In millions)
DTE Electric	$	106	$	—			$	106	$	127		$	—		$	127
DTE Gas	107		—				107		87			—			87
Non-utility operations
Gas Storage and Pipelines	45		—				45		30			—			30
Power and Industrial Projects	30		—				30		17			4		B	21
Energy Trading	96		(78		)	A	18		(7		)	23		A	16
Total Non-utility operations	171		(78		)		93		40			27			67
Corporate and Other	16		—				16		(7		)	—			(7		)
Net Income Attributable to DTE Energy Company	$	400	$	(78	)		$	322	$	247		$	27		$	274
Adjustments key
A) Certain adjustments resulting from derivatives being marked-to-market without revaluing the underlying non-derivative contracts and assets — recorded in Operating Expenses — Fuel, purchased power, and gas — non-utility (net of tax of $50M in 2017 and $15M in 2016)
B) Closure of Shenango coke battery due to impacts from downturn in North American steel industry — recorded in Operating Expenses — Asset (gains) losses and impairments (net of tax $2M)

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited)
	Three Months Ended March 31,
	2017								2016
	Reported Earnings		Adjustments(1)				Operating Earnings		Reported Earnings			Adjustments(1)			Operating Earnings
DTE Electric	$	0.59	$	—			$	0.59	$	0.71		$	—		$	0.71
DTE Gas	0.60		—				0.60		0.48			—			0.48
Non-utility operations
Gas Storage and Pipelines	0.25		—				0.25		0.17			—			0.17
Power and Industrial Projects	0.17		—				0.17		0.09			0.02		B	0.11
Energy Trading	0.53		(0.44		)	A	0.09		(0.04		)	0.13		A	0.09
Total Non-utility operations	0.95		(0.44		)		0.51		0.22			0.15			0.37
Corporate and Other	0.09		—				0.09		(0.04		)	—			(0.04		)
Net Income Attributable to DTE Energy Company	$	2.23	$	(0.44	)		$	1.79	$	1.37		$	0.15		$	1.52
(1) Per share amounts for the adjustments are based on the after-tax effect for each item, divided by the diluted weighted average common shares outstanding, as noted on the Consolidated Statements of Operations (Unaudited)
Adjustments key — see previous page

EX-99.2

Click to edit Master title style 1st Quarter 2017 Earnings Conference Call April 26, 2017 EXHIBIT 99.2

Safe Harbor Statement Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the EPA, the FERC, the MPSC, the NRC, and for DTE Energy, the 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, cyber crime and terrorism; 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; implementation of new information systems; 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 2016 Form 10-K and 2017 Form 10-Q (which section is incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric. 2

• Gerry Anderson – Chairman and CEO • Jerry Norcia – President and COO • Peter Oleksiak – Senior Vice President and CFO • Barbara Tuckfield – Investor Relations Director Participants 3

• Overview • Long-Term Growth Update • 1st Quarter 2017 Financial Update and Summary 4

* Reconciliation of operating EPS (non-GAAP) to reported earnings included in the appendix 2017 has started strong and we are confident in achieving our operating EPS* guidance 5 • On track to achieve 2017 operating EPS guidance range of $5.15 to $5.46 ‒ Faced largest storm in company’s 100+ year history ‒ Experienced third warmest 1st quarter • Filed electric rate case on April 19th • Gas Storage & Pipelines (GSP) ‒ NEXUS in-service date will not affect 2017 guidance, 2018 plan or 5-7% EPS growth target ‒ Continued portfolio growth • Power & Industrial Projects (P&I) ‒ Closed one project and are finalizing two more

During the largest weather event in our history, we executed a safe and efficient restoration effort 6 The weather event impacted 800,000 (nearly 40%) of our electric customers and affected every county in our service territory • Deployed over 3,000 linemen and support crews • Smart meter technology proved valuable in delineating storm tracking restoration real-time • Recent process changes also enabled faster restoration 1998 2008 1991 2017 Largest Number of Customer Outages Due to Weather Events 500 500 670 800 (thousands)

• Overview • Long-Term Growth Update • 1st Quarter 2017 Financial Update and Summary 7

• NEXUS Pipeline ‒ Targeting year-end 2017 in-service date with second quarter FERC certificate ‒ Earnings not affected by in-service date • Millennium Pipeline ‒ Expansion received favorable FERC environmental assessment  0.2 Bcf/d of firm transportation service  In-service 2H 2018 • Link* Lateral & Gathering ‒ Renegotiated agreement with key shipper  Significantly extends contract duration  Materially increases volumes GSP continues to make progress across its portfolio * Includes Appalachia Gathering System (AGS) and 55% of Stonewall Gas Gathering (SGG) • Lateral Pipeline Projects ‒ Birdsboro Pipeline: 14-mile lateral to serve new power plant in Pennsylvania  Targeting in-service 2Q 2018 ‒ Advanced discussions for similar growth opportunities 8

• Acquisition of existing landfill gas plant ‒ Closed April 24, 2017 • Construction of new landfill gas plant ‒ Permitting and right-of-way complete ‒ Expect to begin operations 1H 2018 • Construction of combined heat and power (CHP) plant ‒ Expect approval mid-2017 ‒ In-service 2H 2019 • Projects cover approximately one- third of earnings growth needed to achieve 2021 target 9 Landfill Gas P roj e ct s Industrial CH P P lan t P&I expanding portfolio with landfill gas and combined heat and power projects

• Overview • Long-Term Growth Update • 1st Quarter 2017 Financial Update and Summary 10

1Q 2016 1Q 2017 Change DTE Electric 127$ 106$ (21)$ DTE Gas 87 107 20 Gas Storage & Pipelines 30 45 15 Power & Industrial Projects 21 30 9 Corporate & Other (7) 16 23 Growth segments** 258$ 304$ 46$ Growth segments operating EPS 1.43$ 1.70$ 0.27$ Energy Trading 16$ 18$ 2$ DTE Energy 274$ 322$ 48$ Operating EPS 1.52$ 1.79$ 0.27$ Avg. Shares Outstanding 179.5 179.5 * Reconciliation of operating earnings (non-GAAP) to reported earnings included in the appendix DTE Electric • Warmer weather, storm expenses and higher O&M offset by rate implementation DTE Gas • Rate implementation offset by warmer weather Gas Storage & Pipelines • Pipeline and gathering earnings and timing of expenses Power & Industrial Projects • REF volumes and steel-related earnings offset by lower renewable earnings Corporate & Other • Accounting change for stock-based compensation and timing of taxes ** Total DTE Energy excluding Energy Trading (millions, except EPS) Primary Drivers Operating Earnings Operating Earnings* Variance 11

• Confident we will achieve our 2017 operating EPS* guidance given our solid first quarter results • Utility growth plan driven by infrastructure investments focused on improving reliability and the customer experience • Strategic and sustainable growth in non-utility businesses continues • On track to deliver strong EPS and dividend growth that drive premium total shareholder return Summary * Reconciliation of operating earnings (non-GAAP) to reported earnings included in the appendix 12

DTE Energy Investor Relations www.dteenergy.com/investors (313) 235-8030 Contact Us

Appendix

• Warmer weather Variance to normal weather – 2016: ($8) – 2017: ($13) • O&M primarily planned outage projects and timing $127 $106 ($5) ($6) ($15) ($23) Primary Drivers Operating Earnings* Variance (millions) 1Q 2016 Operating Earnings 1Q 2017 Operating Earnings Weather Storm Rate Implementation O&M / Other * Reconciliation of operating earnings (non-GAAP) to reported earnings also included in the appendix DTE Electric Variance Analysis 15 $28 Rate Base

1Q 2016 1Q 2017 DTE Electric Distribution Infrastructure $111 $156 New Generation 13 9 Replacement & Other 191 243 $315 $408 DTE Gas Base Infrastructure $58 $75 NEXUS Related 2 22 Main Replacement 19 28 $79 $125 Non-Utility $57 $134 Total $451 $667 1Q 2016 1Q 2017 Cash From Operations $0.7 $0.8 Capital Expenditures (0.5) (0.7) Free Cash Flow $0.2 $0.1 Asset Sales & Other - - Dividends (0.1) (0.1) Net Cash $0.1 $0.0 Debt Financing: Issuances - $0.5 Redemptions (0.1) (0.5) Change in Debt ($0.1) $0.0 Capital Expenditures Cash Flow (billions) (millions) Cash Flow and Capital Expenditures 16

Cooling degree days ** Includes choice of 1,164 1Q 2016 and 1,204 1Q 2017 Heating degree days Earnings impact of weather Earnings impact of weather Weather Normal Electric Sales* DTE Electric service territory Variance from normal weather (GWh) Variance from normal weather 1Q 2016 1Q 2017 % change Actuals - - Normal - - Deviation from normal 0% 0% 1Q 2016 1Q 2017 % change Actuals 2,917 2,793 (4%) Normal 3,321 3,263 (2%) Deviation from normal (12%) (14%) ($ millions, after-tax) 1Q 2016 ($8) 2017 ($13) ($ millions, after-tax) 1Q 2016 ($14) 2017 ($21) DTE Gas service territory ($ per share) 1Q 2016 ($0.04) 2017 ($0.07) ($ per share) 1Q 2016 ($0.08) 2017 ($0.12) 1Q 2016 1Q 2017 % change Residential 3,712 3,690 (0.6%) Commercial 4,846 4,852 0.1% Industrial 2,878 2,882 0.1% Other 78 79 1.3% TOTAL SALES** 11,514 11,503 (0.1%) Weather and DTE Electric Weather Normal Sales DTE Electric DTE Gas DTE Electric service territory 17 * Includes adjustments for temperature normalization and customer outages due to weather

DTE Gas DTE Electric • Expect rate case filing in 1-2 years • 4Q 2016 order – $122 million – 10.1% ROE • Annual rate cases 2018+ • 1Q 2017 order – $184 million – 10.1% ROE • Filed rate case April 19, 2017 – Requested rate recovery: $231 million – Test year: November 1, 2017 to October 31, 2018 – Self implementation: November 2017 – Return on Equity: 10.5% – Rate Base: $15.4 billion – Rate of Return: 5.57% 18 Regulatory Update – Electric and Gas

2017 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 $610 - $624 143 - 151 140 - 150 90 - 100 (64) - (60) $919 - $965 $5.12 - $5.38 $5 - $15 $924 - $980 179.5 $5.15 - $5.46 1Q 2017 Actuals $106 107 45 30 16 $304 $1.70 $18 $322 179.5 $1.79 (millions, except EPS) * Reconciliation of operating earnings (non-GAAP) to reported earnings also included in the appendix ** Total DTE Energy excluding Energy Trading Operating EPS* guidance supports 5% - 7% growth 19

2017 Guidance DTE Electric Distribution Infrastructure $690 New Generation 45 Replacement & Other 725 $1,460 DTE Gas Base Infrastructure $200 NEXUS Related 90 Main Replacement 145 $435 Non-Utility $900 - $1,100 Total $2,795 - $2,995 2017 Guidance Cash From Operations $1.9 Capital Expenditures (3.0) Free Cash Flow ($1.1) Asset Sales & Other - Dividends (0.6) Net Cash ($1.7) Debt Financing: Issuances $1.7 Redemptions - Change in Debt $1.7 Capital Expenditures Cash Flow (billions) (millions) Cash flow and capital expenditures guidance support growth target 20

21% 2016 2017-2019E 51% 2016 2017-2019E Leverage* Funds from Operations** / Debt* Target 50% - 53% Target 20% + * Debt excludes a portion of DTE Gas’ short-term debt and considers 50% of the junior subordinated notes and 100% of the convertible equity units as equity ** Funds from Operations (FFO) is calculated using operating earnings • No equity issuances planned for 2017 ‒ Acquisition related equity of $675 million in late 2019 (through convertible equity units) ‒ No additional equity planned through 2019 • $2 billion of available liquidity at March 31, 2017 Cash flow and balance sheet remain strong 21

$16 $18 • Economic net income equals economic gross margin*** minus O&M expenses and taxes • DTE Energy management uses economic net income as one of the performance measures for external communications with analysts and investors • Internally, DTE Energy uses economic net income as one of the measures to review performance against financial targets and budget Operating Earnings* Realized Unrealized O&M / Other 1Q 2016 1Q 2017 $31 $38 (7) (4) (11) (13) (millions, after-tax) $16 $18 $2 $18 $1 $19 *** Economic gross margin is the change in net fair value of realized and unrealized purchase and sale contracts including certain non-derivative contract costs ** Consists of 1) the income statement effect of not recognizing changes in the fair market value of certain non-derivative contracts including physical inventory and capacity contracts for transportation, transmission and storage. These contracts are not marked-to-market, instead are recognized for accounting purposes on an accrual basis; 2) operating adjustments for unrealized marked-to-market changes of certain derivative contracts * Reconciliation of operating earnings (non-GAAP) to reported earnings also included in the appendix 1Q 2017 Economic Net Income Accounting Adjustments** 1Q 2017 Operating Earnings* 1Q 2016 Operating Earnings* 1Q 2016 Economic Net Income Accounting Adjustments** (millions) 1st Quarter 2017 Energy Trading Reconciliation of Operating Earnings* to Economic Net Income 22

1Q 2017 Net Income (millions)* After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $106 $107 $45 $30 $16 $304 $96 $400 Certain mark-to- market transactions – – – – – – (78) (78) Operating Earnings $106 $107 $45 $30 $16 $304 $18 $322 1st Quarter 2017 Reconciliation of Reported to Operating Earnings (non-GAAP) 23 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. Operating earnings are presented both with and without Energy Trading. The term “Growth Segments” refers to DTE Energy without Energy Trading and represents the business segments that management expects to generate earnings growth going forward. 1Q 2017 EPS** After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $0.59 $0.60 $0.25 $0.17 $0.09 $1.70 $0.53 $2.23 Certain mark-to- market transactions – – – – – – (0.44) (0.44) Operating Earnings $0.59 $0.60 $0.25 $0.17 $0.09 $1.70 $0.09 $1.79 * Total tax impact of adjustments to reported earnings: ($50m) ** Total tax impact of adjustments to reported EPS: ($0.28)

1Q 2016 Net Income (millions)* After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $127 $87 $30 $17 ($7) $254 ($7) $247 Plant closure – – – 4 – 4 – 4 Certain mark-to- market transactions – – – – – – 23 23 Operating Earnings $127 $87 $30 $21 ($7) $258 $16 $274 1st Quarter 2016 Reconciliation of Reported to Operating Earnings (non-GAAP) 24 * Total tax impact of adjustments to reported earnings: $17m ** Total tax impact of adjustments to reported EPS: $0.10 1Q 2016 EPS** After-tax items: DTE Electric DTE Gas Gas Storage & Pipelines Power & Industrial Projects Corporate & Other Growth Segments Energy Trading DTE Energy Reported Earnings $0.71 $0.48 $0.17 $0.09 ($0.04) $1.41 ($0.04) $1.37 Plant closure – – – 0.02 – 0.02 – 0.02 Certain mark-to- market transactions – – – – – – 0.13 0.13 Operating Earnings $0.71 $0.48 $0.17 $0.11 ($0.04) $1.43 $0.09 $1.52 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. Operating earnings are presented both with and without Energy Trading. The term “Growth Segments” refers to DTE Energy without Energy Trading and represents the business segments that management expects to generate earnings growth going forward.

Use of Operating Earnings Information – Operating earnings exclude non-recurring items, certain mark-to- market adjustments and discontinued operations. 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 (i.e. future non-recurring items, certain mark-to- market adjustments and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings. Reconciliation of Reported to Operating Earnings (non-GAAP) 25