Note: Single-source report; awaiting corroboration.
The Department of Energy's Office of Energy Dominance Financing has approved a $1.6 billion loan to DTE Gas Company to lower electricity prices and modernize natural gas infrastructure across Michigan. According to the DOE, the loan is projected to generate more than $700 million in cost savings for millions of Michigan customers.
The funds will support the modernization and reinforcement of about 800 miles of natural gas distribution mains and service lines. This includes rebuilding an existing compressor station that allows DTE to store natural gas during low demand, reducing costs during peak periods, the statement says.
The initiative is made possible by President Trump’s Working Families Tax Cut and aligns with the Executive Order "Unleashing American Energy," which aims to ensure affordability and reliability in the nation’s energy distribution system. DOE Secretary Wright said the loan will lower energy costs, create jobs, and increase grid reliability for Michigan residents.
The Department of Energy emphasized its commitment to responsible energy financing, ensuring taxpayer funds are used to provide affordable, reliable, and secure energy access for Americans.