DTE Energy touted the recently approved settlement on its 20-year resource plan in its second-quarter earnings call.

The Michigan Public Service Commission on Wednesday accepted DTE Energy’s negotiated integrated resource plan that accelerates renewable energy additions, hastens the closure of its last coal plant from 2035 to 2032 and sets a path for the utility to reduce carbon by 85% from 2005 levels within nine years. (See DTE, Activists Announce Agreement to Exit Coal by 2032.)

“Our CleanVision integrated resource plan outlines our investment in Michigan’s future, and we are grateful to the 21 organizations from across Michigan for their diligent work on this settlement agreement,” DTE Energy CEO Jerry Norcia said in an earnings press release. “From ending the use of coal in 2032 to reducing future costs of our clean energy transformation by $2.5 billion, this plan is a road map to cleaner, more reliable and affordable energy for our customers.”

Speaking during a July 27 earnings teleconference, Norcia said DTE conducted analyses and outreach to come up with a “balanced and diversified” approach to the future energy mix. He said over the next decade, DTE Energy will invest more than $11 billion in the clean energy transition. He also said by 2042, the utility will add 15 GW of renewable energy and nearly 2 GW of energy storage.

Norcia said the IRP settlement demonstrates the “constructive nature” of the regulatory environment in Michigan.

DTE Energy reported $206 million ($0.99/share) of earnings in the second quarter. That compares to the $171 million ($0.88/share) DTE earned this time in 2022.

DTE Energy said it invested $1.5 billion over the first half of the year on electric reliability improvements and cleaner energy generation. Norcia noted that during the quarter, it placed Michigan’s largest wind park — the 225-MW Meridian Wind Park — into service.