DTE Energy

Pricing is regulated rather than discretionary. The January 2025 order granted 217 million dollars of incremental revenue while holding authorized ROE at 9.9 percent and a 50/50 capital structure, underscoring a balanced but disciplined commission.

DTE can also expand bilateral and programmatic offerings, such as MIGreenPower and special contracts, which broaden fixed‑cost recovery without cross‑subsidies. Latent pricing power is modest compared with tollbooth software but adequate for a utility, backed by mechanisms that reduce regulatory lag.

Risks are regulatory disallowances, political scrutiny, and customer sensitivity post‑storms.