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DTE says merger is saving money, but cost of business has risen.(News)(DTE Energy Co. acquired MCN Energy Group Inc.)(Detroit Edison Co. and Michigan Consolidated Gas Co. merger)
Crain's Detroit Business, December, 2005 by Lane, Amy
Byline: Amy Lane When DTE Energy Co. bought Detroit neighbor MCN Energy Group Inc. in 2001, it expected to reap some $1.1 billion in cost savings during the next 10 years. To date, DTE says it's saving about $174 million annually, largely from combining functions such as customer service, information technology, accounting and human resources.
New cost-cutting and efficiencies unrelated to the merger are likely to sweep throughout the company as DTE completes an internal review that is expected to result in eliminating jobs. Efficiency and cost reductions were measures that the Association of Businesses Advocating Tariff Equity hoped would lead to lower rates as a result of DTE acquiring MCN. But ABATE says such projected benefits of the $3.9 billion...
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