The disclosure and our analysis
Evidence dates
Evidence: DTE Energy investor presentation furnished to the SEC on September 28, 2026 (dated September 28 to 29, 2026); Michigan Attorney General releases dated March 17 and June 11, 2026.
What DTE disclosed
DTE Energy furnished an investor presentation with the SEC on September 28, 2026. It says the utility has 2.4 GW of executed data center agreements. DTE describes these figures as data center load. The presentation does not say whether they are peak demand, contract demand or IT load. [Source 1]
Oracle, 1.4 GW. DTE says the contracts were approved by the MPSC and construction has started. It expects demand to ramp in the 2027 to 2028 timeframe. DTE describes a 19-year power supply agreement with minimum monthly charges and a 15-year energy storage contract that covers the capital investment. It says termination fees, credit and collateral requirements protect existing customers. DTE plans nearly $2 billion of storage investment to support the load ramp. [Source 1] The Michigan Attorney General identifies this project as the Saline Township data center and the contract counterparty as Green Chile Ventures LLC. [Source 3]
Google, 1 GW. DTE says the contracts were filed with the MPSC and are in its approval process. DTE expects demand to fully ramp by the end of 2028. It lists up to 1,600 MW of renewable generation, 480 MW of energy storage and 350 MW of demand response to support the ramp, with about 700 MW of longer-term generation to be identified in its resource plan. DTE puts the related generation and storage capital at about $5 billion through 2032 and calls that figure preliminary. The structure is a 20-year power supply agreement with minimum monthly charges and a 20-year clean capacity acceleration agreement. [Source 1] The Attorney General identifies the site as Van Buren Township and says the contracts are being reviewed as a contested case. [Source 2] [Source 3]
The pipeline behind the signed deals
DTE says it is in advanced discussions with additional hyperscalers for about 2 GW of additional load and is targeting another agreement by the end of 2026. It lists 3 to 4 GW of further opportunities with hyperscalers and other customers. It says a large load tariff is moving through the approval process. DTE notes that new load beyond the signed deals would require new generation, renewables or storage, to be settled through its integrated resource plan. [Source 1]
DTE's five-year capital plan is now $36.5 billion, up about $6 billion from its prior plan, which it attributes mainly to the Oracle project and other customer initiatives. [Source 1]
Contract protections under review
In testimony described in a June 11, 2026 release, the Attorney General recommended raising Google's minimum monthly charge from 80% to no lower than 90% of anticipated demand and raising the proposed exit fees. The Attorney General also asked for tracking of transmission and other costs of serving the data center. [Source 3] The reviewed sources do not show an MPSC order on the Google contracts. DTE's September 28 presentation still lists them as in the approval process. [Source 1]
Buyer analysis
This is our analysis. The figures describe utility load commitments for two named hyperscale campuses. They are not colocation inventory, and none of the reviewed documents says any of this capacity is available to third parties.
For buyers looking at Southeast Michigan, the more useful signal is the utility's terms. DTE's large contracts pair long power supply terms with minimum monthly charges, exit fees and collateral. The Attorney General is pushing for higher minimums. Operators planning new Michigan campuses should expect similar terms, and a pending large load tariff may set them for smaller loads too.
The 2 GW in advanced talks and 3 to 4 GW pipeline are DTE's descriptions of discussions. They are not signed load, and their timing depends on new generation that is still going through the resource plan process. Buyers should ask any Michigan provider which utility agreement backs its capacity and what ramp schedule that agreement allows.
