DTE gas customers to see $700M in savings thanks to massive loan
DTE receives $1.6 billion loan to lower energy costs
A Department of Energy loan will lead to $700 million in savings for DTE gas customers.
(FOX 2) - Customers of DTE will see $700 million in savings thanks to a massive loan from the federal government aimed at both lowering electricity prices and improving the infrastructure that feeds the utility's natural gas.
The relief comes thanks to a $1.6 billion loan from the Department of Energy.
The money will help rebuild and replace 800 miles of natural gas lines.
"It will have a big impact on the state," said Greg Beard, a director with the federal energy department. "Eight hundred miles — those are big projects."
The money will help 1.4 million customers that receive gas from DTE.
The Source: A news release from the Department of Energy.