Overview Key strengths Key risks The company derives most (90%) of its consolidated cash flow from its more predictable and lower-risk regulated electric and gas businesses. Higher-risk nonutility operations are a modest contributor. The supportive regulatory environment in Michigan enhances the company?s cash flow predictability. The company primarily generates electricity from coal, despite its commitment to a gradual carbon-reduction plan. DTE Energy Co. benefits from its vertically integrated electric and gas distribution operations. Following the completion of the midstream business spin-off, DTE will focus on improving its regulated utility business without disproportionately expanding its other businesses. In addition, we expect DTE to benefit from the cost-recovery mechanisms allowed under the favorable Michigan regulatory framework. The stable outlook reflects our view
