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Dte Electric Co (28385) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Dte Electric Co

CIK: 28385


EXHIBIT 99.1

DTE Energy reports strong third-quarter 2018 results, raises 2018 guidance and provides 2019 early outlook
Recognized as top corporate citizen in Michigan
Ranked second in customer satisfaction
Broke ground on Blue Water Energy Center

DETROIT, October 24, 2018
- DTE Energy (NYSE:DTE) today reported third quarter 2018 earnings of $334 million, or $1.84 per diluted share, compared with $270 million, or $1.51 per diluted share in 2017.

Operating earnings for the third quarter 2018 were $388 million, or $2.13 per diluted share, compared with 2017 operating earnings of $264 million, or $1.48 per diluted share. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this news release.
 
"This year, DTE Energy has made significant strides in our drive for a cleaner energy future,” said DTE Energy Chairman and CEO Gerry Anderson. “At the same time, our financial performance continues to be strong and we are well positioned for another successful year.

Anderson noted the following business and environmental accomplishments:
Ranked as one of the country’s top corporate citizens by Points of Light. DTE Energy was the only Michigan company named to the Civic 50 - the top 50 companies nationwide in corporate citizenship - by Points of Light, the world’s largest organization dedicated to volunteer service. DTE was also recognized as the leading energy company nationally.

Ranked second in overall customer satisfaction with gas and electric residential customers in the Midwest in J.D. Power’s 2018 study.

Broke ground on Blue Water Energy Center. DTE took a significant step toward its goal of reducing carbon emissions by more than 80 percent by breaking ground on a state-of-the-art, $1 billion natural gas-fueled plant. The Blue Water Energy Center will be the most efficient power plant in the state when it begins producing affordable and reliable low-emission electricity.

Pioneered a renewable natural gas project partnership. DTE’s Power and Industrial group announced its first dairy-to-renewable natural gas (RNG) project with a Wisconsin based dairy farm. Natural gas generated from agricultural waste will power compressed natural gas vehicles, offsetting the use of fossil-based fuels.

Announced industry leading plan to reduce methane emissions by 80 percent by 2040 at DTE Gas. DTE is achieving these reductions by replacing steel and cast iron pipelines at an accelerated pace and through best practices for compressor operations.

Placed NEXUS gas pipeline into service. NEXUS is a 256 mile pipe that will bring low cost gas supply to Michigan from nearby states.

Continued support of Michigan businesses: DTE Energy spent nearly $1.2 billion with Michigan-based companies through the third quarter of this year, exceeding its commitment to the Pure Michigan Business Connect local supplier initiative. This includes $380 million spent in the city of Detroit.





The following information was filed by Dte Electric Co on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Dte Electric Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parentheticals)
Consolidated Statements Of Financial Position (Unaudited)
Consolidated Statements Of Financial Position (Unaudited) (Parenthetical)
Consolidated Statements Of Operations (Unaudited)
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value
Fair Value (Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (Details)
Fair Value (Details Textuals)
Fair Value (Fair Value And Unrealized Gains And Losses For The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Fair Value Of Financial Instruments) (Details)
Fair Value (Fair Value Of Nuclear Decommissioning Trust Fund Assets) (Details)
Fair Value (Gains And Losses And Proceeds From The Sale Of Securities By The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Reconciliation Of Level 3 Assets And Liabilities At Fair Value On A Recurring Basis) (Details)
Fair Value (Tables)
Fair Value (Unobservable Inputs Related To Level 3 Assets And Liabilities) (Details)
Fair Value Fair Value (Fair Value Of Fixed Income Securities Held In Nuclear Decommissioning Trust Funds (Details)
Financial And Other Derivative Instruments
Financial And Other Derivative Instruments (Cumulative Gross Volume Of Derivative Contracts Outstanding) (Details)
Financial And Other Derivative Instruments (Details Textuals)
Financial And Other Derivative Instruments (Effect Of Derivatives Not Designated As Hedging Instruments On The Consolidated Statement Of Operations) (Details)
Financial And Other Derivative Instruments (Fair Value Of Derivative Instruments) (Details)
Financial And Other Derivative Instruments (Netting Offsets Of Derivative Assets And Liabilities) (Details)
Financial And Other Derivative Instruments (Netting Offsets Reconciliation To Balance Sheet) (Details)
Financial And Other Derivative Instruments (Tables)
Long-Term Debt
Long-Term Debt (Details)
Long-Term Debt (Tables)
New Accounting Pronouncements
New Accounting Pronouncements - Narrative (Details)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Details Textuals)
Organization And Basis Of Presentation (Non-Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Tables)
Regulatory Matters
Regulatory Matters (Details Textuals)
Retirement Benefits And Trusteed Assets
Retirement Benefits And Trusteed Assets (Details Textuals)
Retirement Benefits And Trusteed Assets (Details)
Retirement Benefits And Trusteed Assets (Tables)
Retirement Benefits And Trusteed Assets - Veba Contributions (Details)
Revenue
Revenue (Tables)
Revenue - Deferred Revenue (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Expected Recognition Of Deferred Revenue (Details)
Revenue - Expected Timing Of Performance Obligation Satisfaction (Details)
Revenue - Narrative (Details)
Segment And Related Information
Segment And Related Information (Details Textuals)
Segment And Related Information (Financial Data - Inter-Segment Billing) (Details)
Segment And Related Information (Financial Data - Net Income (Loss) Attributable To Dte Energy By Segment) (Details)
Segment And Related Information (Financial Data - Operating Revenues Including Inter-Segment Revenues) (Details)
Segment And Related Information (Tables)
Short-Term Credit Arrangements And Borrowings
Short-Term Credit Arrangements And Borrowings (Details Textuals)
Short-Term Credit Arrangements And Borrowings (Details)
Short-Term Credit Arrangements And Borrowings (Tables)
Significant Accounting Policies
Significant Accounting Policies (Cash And Restricted Cash) (Details)
Significant Accounting Policies (Details Textuals)
Significant Accounting Policies (Income Taxes) (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies Significant Accounting Policies (Other Income) (Details)
CIK: 28385
Form Type: 10-Q Quarterly Report
Accession Number: 0000936340-18-000233
Submitted to the SEC: Tue Oct 23 2018 11:59:49 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Electric Services

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