DTE Energy Co will look to move 350 megawatts of natural gas-fired peaking generation from its unregulated arm to its utility, the power company's Chief Executive told Reuters on Monday.
DTE Energy Chief Executive Anthony Earley said the company would work very closely with state regulator, including valuing the plants. If DTE is unable to shift 350 megawatts of peaking generation, usually three power plants, the company would build rather than buy additional peaking units. That dcision would be made in the 2010 to 2011 timeframe.
The company has no plans to build or buy any additional coal-fired power plants. Early also said the company has one more option for its non-utility magnetisation plan. DTE will make a decision on the future of its Barnett Shale natural gas asset probably late this quarter. If DTE decides to go-ahead, the transaction, which could include a sale, should be completed by the end of the year. He also said the company plans to update its earnings forecast when it announces its second quarter earnings results. When asked if the company expects an upward revision, Earley said its recent sales will immediately add to earnings.