How much do DTE, Consumers customers pay in utility profits?

A new analysis shows that a larger portion of DTE Energy and Consumers Energy bills in Michigan go towards utility profits than most investor-owned utilities tracked nationally. According to an online calculator developed by the Energy & Policy Institute, a DTE Energy customer with a $150 monthly electric bill pays an estimated 16.7% of their bill, or $25.05, in utility profits. A Consumers Energy customer with the same bill pays 13.9%, or $20.82, towards company profits. This puts both DTE and Consumers in the top half of utilities nationally for the percentage of bills going to profits. The article notes that the Michigan Public Service Commission sets the return on equity rates for utilities, and consumer advocates are calling for lower profit margins to reduce customer bills. Former Connecticut regulator Marissa Gillett, who now works with the American Economic Liberties Project, compared utility returns on equity to a mortgage that compounds over time, leading to high profits for shareholders at the expense of ratepayers. The article concludes by stating that consumer advocates need to be better resourced and more involved in utility regulatory proceedings to address the burden of high utility profits.