DTE Energy Company (NYSE:DTE) Q1 2024 Earnings Call Transcript

Gerardo Norcia: Angie, it’s too early to tell. These conversations, as I mentioned earlier are very early. They are sizable conversations in terms of the load that we’re talking about. And again, we’re really well positioned. But in terms of timing, we haven’t gotten that far just yet. But I think that will come. I think the key catalyst here in Michigan will be this legislation that needs to pass on the sales and use tax. That’s a big deal for the data centers that are considering Michigan and considering investing at some of the sites that we put in front of them. That should happen. We expect that to happen hopefully this summer. But with an election year, it is a volatile year, as you know.

Operator: Your next question comes from the line of Travis Miller with Morningstar.

Travis Miller: You answered most of my questions and discuss most of the topics I was hoping to hit. So just real quick, I saw residential commercial demand looked like it was up. I know this is a small — relatively small quarter for that. But anything there either relative to plan or notable where you’re seeing residential commercial demand pick up a little bit?

David Ruud: Yes, we did see residential up quarter-over-quarter. I would say that for the year, we’re expecting it to come in on plan and probably pretty well consistent with last year. We have a lot of energy efficiency we do and that and the growth kind of work together and will be fairly flat to last year.

Operator: I will now turn the call back over to Jerry Norcia for closing remarks. Please go ahead.

Gerardo Norcia: Well, thank you, everyone, for joining us today. And I’ll close by saying that we’re feeling really confident about 2024 and of course, our long-term plan beyond that in terms of providing value for our customers and for our investors. Have a great morning. Stay healthy and stay safe.

Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining and you may now disconnect your lines.