DTE will continue to focus on its regulated utility business growth, while not disproportionately expanding its other businesses. Management continues to demonstrate and indicate its commitment to a strategy that retains its focus on its regulated operations. We expect the company to continue to benefit from the cost recovery mechanisms allowed under the favorable Michigan regulatory framework. S&P Global Ratings' stable outlook on DTE Energy Co. (DTE) reflects the expectation that, even after expanding its pipeline operation, management will continue to maintain its business risk profile by focusing on core utility operations and reaching constructive regulatory outcomes while not disproportionately expanding non-utility operations. The outlook also reflects our base-case scenario expectation that management will maintain credit protection measures in line