DTE Energy is a regulated electric and natural gas utility serving customers across Michigan, delivering energy under rates approved by state utility regulators. As a regulated utility, its earnings are tied to a rate of return approved by regulators on the capital it invests in its electric grid and gas distribution infrastructure, providing predictable earnings in exchange for accepting limits on customer rates. The company has invested significantly in transitioning its electric generation portfolio away from coal toward natural gas and renewable energy sources, part of a broader shift among Midwest utilities responding to environmental regulations and aging infrastructure. DTE Energy's growth is tied to the rate base expansion it can achieve through regulator-approved infrastructure investment across its Michigan service territory, along with regional economic and population growth.