DTE ELECTRIC CO, 10-Q filed on 11/1/2023
Quarterly Report
v3.23.3
Document and Entity Information
 9 Months Ended
Sep. 30, 2023
shares
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Sep. 30, 2023
Document Transition Report false
Entity File Number 1-11607
Entity Registrant Name DTE Energy Co
Entity Incorporation, State or Country Code MI
Entity Tax Identification Number 38-3217752
Entity Address, Address Line One One Energy Plaza
Entity Address, City or Town Detroit
Entity Address, State or Province MI
Entity Address, Postal Zip Code 48226-1279
City Area Code 313
Local Phone Number 235-4000
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 206,258,727
Entity Central Index Key 0000936340
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2023
Document Fiscal Period Focus Q3
Amendment Flag false
DTE Electric  
Entity File Number 1-2198
Entity Registrant Name DTE Electric Co
Entity Incorporation, State or Country Code MI
Entity Tax Identification Number 38-0478650
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Non-accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 138,632,324
Entity Central Index Key 0000028385
Common stock, without par value  
Title of 12(b) Security Common stock, without par value
Trading Symbol DTE
Security Exchange Name NYSE
2017 Series E 5.25% Junior Subordinated Debentures due 2077  
Title of 12(b) Security 2017 Series E 5.25% Junior Subordinated Debentures due 2077
Trading Symbol DTW
Security Exchange Name NYSE
2020 Series G 4.375% Junior Subordinated Debentures due 2080  
Title of 12(b) Security 2020 Series G 4.375% Junior Subordinated Debentures due 2080
Trading Symbol DTB
Security Exchange Name NYSE
2021 Series E 4.375% Junior Subordinated Debentures due 2081  
Title of 12(b) Security 2021 Series E 4.375% Junior Subordinated Debentures due 2081
Trading Symbol DTG
Security Exchange Name NYSE
v3.23.3
Consolidated Statements of Operations (Unaudited) - DTE Energy Company - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating Revenues        
Utility operations $ 1,827 $ 2,053 $ 5,504 $ 6,196
Non-utility operations 1,061 3,198 3,847 8,556
Operating Revenues 2,888 5,251 9,351 14,752
Operating Expenses        
Fuel, purchased power, and gas — utility 435 594 1,364 1,901
Fuel, purchased power, gas, and other — non-utility 864 3,023 3,226 8,324
Operation and maintenance 545 608 1,650 1,803
Depreciation and amortization 404 369 1,185 1,093
Taxes other than income 114 111 350 349
Asset (gains) losses and impairments, net (12) 1 (11) (4)
Operating Expenses 2,350 4,706 7,764 13,466
Operating Income 538 545 1,587 1,286
Other (Income) and Deductions        
Interest expense 200 171 583 486
Interest income (15) (10) (45) (26)
Non-operating retirement benefits, net 1 (5) 9 (13)
Other income (13) (16) (70) (35)
Other expenses 11 12 26 56
Other (Income) and Deductions 184 152 503 468
Income Before Income Taxes 354 393 1,084 818
Income Tax Expense 22 6 106 0
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 332 $ 387 $ 978 $ 818
Basic Earnings per Common Share        
Net Income Attributable to DTE Energy Company (in dollars per share) $ 1.61 $ 2.00 $ 4.74 $ 4.22
Diluted Earnings per Common Share        
Net Income Attributable to DTE Energy Company (in dollars per share) $ 1.61 $ 1.99 $ 4.74 $ 4.21
Weighted Average Common Shares Outstanding        
Basic (in shares) 206 193 206 193
Diluted (in shares) 206 194 206 194
v3.23.3
Consolidated Statements of Comprehensive Income (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net Income $ 332 $ 387 $ 978 $ 818
Other comprehensive income (loss), net of tax:        
Benefit obligations, net of taxes of $—, $—, $1, and $2, respectively 1 2 2 7
Net unrealized gains on derivatives, net of taxes of $4, $1, $5, and $2, respectively 15 4 17 7
Foreign currency translation (3) 0 (1) 0
Other comprehensive income 13 6 18 14
Comprehensive Income $ 345 $ 393 $ 996 $ 832
v3.23.3
Consolidated Statements of Comprehensive Income (Unaudited) - DTE Energy Company (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Statement of Comprehensive Income [Abstract]        
Tax effect on benefit obligations $ 0 $ 0 $ 1 $ 2
Tax effect on net unrealized losses on derivatives during the period $ 4 $ 1 $ 5 $ 2
v3.23.3
Consolidated Statements of Financial Position (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 36 $ 33
Restricted cash 30 10
Accounts receivable (less allowance for doubtful accounts of $76 and $79, respectively)    
Accounts receivable 1,393 2,038
Other 173 144
Inventories    
Fuel and gas 463 433
Materials, supplies, and other 647 509
Derivative assets 228 328
Regulatory assets 135 450
Prepaid property tax 180 76
Other 135 159
Total Current Assets 3,420 4,180
Investments    
Nuclear decommissioning trust funds 1,913 1,825
Investments in equity method investees 180 165
Other 157 165
Total Investments 2,250 2,155
Property    
Property, plant, and equipment 36,397 39,346
Accumulated depreciation and amortization (8,869) (10,579)
Total Property 27,528 28,767
Other Assets    
Goodwill 1,993 1,993
Regulatory assets 6,715 3,886
Securitized regulatory assets 178 206
Intangible assets 159 166
Notes receivable 400 331
Derivative assets 81 105
Prepaid postretirement costs 616 571
Operating lease right-of-use assets 137 89
Other 253 234
Total Other Assets 10,532 7,581
Total Assets 43,730 42,683
Current Liabilities    
Accounts payable 1,135 1,604
Accrued interest 213 154
Dividends payable 196 196
Short-term borrowings 1,217 1,162
Current portion long-term debt, including securitization bonds and finance leases 594 1,124
Derivative liabilities 145 342
Regulatory liabilities 52 34
Operating lease liabilities 18 13
Other 475 544
Total Current Liabilities 4,045 5,173
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 17,497 15,807
Securitization bonds 153 172
Junior subordinated debentures 883 883
Finance lease liabilities 9 11
Total Long-Term Debt (net of current portion) 18,542 16,873
Other Liabilities    
Deferred income taxes 2,575 2,394
Regulatory liabilities 2,597 2,673
Asset retirement obligations 3,589 3,460
Unamortized investment tax credit 180 182
Derivative liabilities 154 315
Accrued pension liability 319 378
Accrued postretirement liability 288 287
Nuclear decommissioning 299 282
Operating lease liabilities 112 68
Other 176 197
Total Other Liabilities 10,289 10,236
Commitments and Contingencies (Notes 5 and 12)
Equity    
Common stock (No par value, 400,000,000 shares authorized, and 206,258,727 and 205,632,393 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively) 6,697 6,651
Retained earnings 4,197 3,808
Accumulated other comprehensive loss (44) (62)
Total DTE Energy/DTE Electric Company Equity 10,850 10,397
Noncontrolling interests 4 4
Total Equity 10,854 10,401
Total Liabilities and Equity $ 43,730 $ 42,683
v3.23.3
Consolidated Statements of Financial Position (Unaudited) - DTE Energy Company (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current Assets    
Allowance for doubtful accounts $ 76 $ 79
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 206,258,727 205,632,393
Common stock, shares outstanding (in shares) 206,258,727 205,632,393
v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net Income Attributable to DTE Energy Company $ 978 $ 818
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 1,185 1,093
Nuclear fuel amortization 43 26
Allowance for equity funds used during construction (26) (20)
Deferred income taxes 119 15
Equity (earnings) losses of equity method investees (7) 15
Dividends from equity method investees 3 4
Asset (gains) losses and impairments, net (11) (4)
Changes in assets and liabilities:    
Accounts receivable, net 614 (150)
Inventories (170) (204)
Prepaid postretirement benefit costs (45) (60)
Accounts payable (438) 228
Accrued pension liability (59) (71)
Accrued postretirement liability 1 (8)
Derivative assets and liabilities (234) 77
Regulatory assets and liabilities 509 (552)
Other current and noncurrent assets and liabilities (87) 205
Net cash from operating activities 2,375 1,412
Investing Activities    
Plant and equipment expenditures — utility (2,772) (2,342)
Plant and equipment expenditures — non-utility (41) (55)
Proceeds from sale of nuclear decommissioning trust fund assets 527 707
Investment in nuclear decommissioning trust funds (524) (710)
Distributions from equity method investees 16 11
Contributions to equity method investees (27) (12)
Notes receivable (56) (13)
Other (64) (39)
Net cash used for investing activities (2,941) (2,453)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 2,278 1,771
Redemption of long-term debt (1,146) (316)
Short-term borrowings, net 55 236
Repurchase of common stock 0 (55)
Dividends paid on common stock (564) (514)
Other (34) (65)
Net cash from financing activities 589 1,057
Net Increase in Cash, Cash Equivalents, and Restricted Cash 23 16
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 43 35
Cash, Cash Equivalents, and Restricted Cash at End of Period 66 51
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable $ 401 $ 331
v3.23.3
Consolidated Statements of Changes in Equity (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
Total
Common Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning Balance (in shares) at Dec. 31, 2021   193,748,000      
Beginning Balance at Dec. 31, 2021 $ 8,713 $ 5,379 $ 3,438 $ (112) $ 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 394   394    
Dividends declared on common stock (171)   (171)    
Repurchase of common stock (in shares)   (465,000)      
Repurchase of common stock (55) $ (55)      
Other comprehensive income (loss), net of tax 3     3  
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (in shares)   456,000      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (17) $ (14) 1   (4)
Ending Balance (in shares) at Mar. 31, 2022   193,739,000      
Ending Balance at Mar. 31, 2022 8,867 $ 5,310 3,662 (109) 4
Beginning Balance (in shares) at Dec. 31, 2021   193,748,000      
Beginning Balance at Dec. 31, 2021 8,713 $ 5,379 3,438 (112) 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 818        
Other comprehensive income (loss), net of tax 14        
Ending Balance (in shares) at Sep. 30, 2022   193,742,000      
Ending Balance at Sep. 30, 2022 8,986 $ 5,337 3,741 (98) 6
Beginning Balance (in shares) at Mar. 31, 2022   193,739,000      
Beginning Balance at Mar. 31, 2022 8,867 $ 5,310 3,662 (109) 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 37   37    
Dividends declared on common stock (343)   (343)    
Other comprehensive income (loss), net of tax 5     5  
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (in shares)   (3,000)      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other 13 $ 13 (1)   1
Ending Balance (in shares) at Jun. 30, 2022   193,736,000      
Ending Balance at Jun. 30, 2022 8,579 $ 5,323 3,355 (104) 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 387   387   0
Other comprehensive income (loss), net of tax 6     6  
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (in shares)   6,000      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other 14 $ 14 (1)   1
Ending Balance (in shares) at Sep. 30, 2022   193,742,000      
Ending Balance at Sep. 30, 2022 $ 8,986 $ 5,337 3,741 (98) 6
Beginning Balance (in shares) at Dec. 31, 2022 205,632,393 205,632,000      
Beginning Balance at Dec. 31, 2022 $ 10,401 $ 6,651 3,808 (62) 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 445   445    
Dividends declared on common stock (196)   (196)    
Issuance of common stock (in shares)   76,000      
Issuance of common stock 9 $ 9      
Other comprehensive income (loss), net of tax (3)     (3)  
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (in shares)   401,000      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (10) $ (8) (2)    
Ending Balance (in shares) at Mar. 31, 2023   206,109,000      
Ending Balance at Mar. 31, 2023 $ 10,646 $ 6,652 4,055 (65) 4
Beginning Balance (in shares) at Dec. 31, 2022 205,632,393 205,632,000      
Beginning Balance at Dec. 31, 2022 $ 10,401 $ 6,651 3,808 (62) 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 978        
Other comprehensive income (loss), net of tax $ 18        
Ending Balance (in shares) at Sep. 30, 2023 206,258,727 206,259,000      
Ending Balance at Sep. 30, 2023 $ 10,854 $ 6,697 4,197 (44) 4
Beginning Balance (in shares) at Mar. 31, 2023   206,109,000      
Beginning Balance at Mar. 31, 2023 10,646 $ 6,652 4,055 (65) 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 201   201    
Dividends declared on common stock (393)   (393)    
Issuance of common stock (in shares)   76,000      
Issuance of common stock 8 $ 8      
Other comprehensive income (loss), net of tax 8     8  
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (in shares)   (9,000)      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other 15 $ 16 (1)   0
Ending Balance (in shares) at Jun. 30, 2023   206,176,000      
Ending Balance at Jun. 30, 2023 10,485 $ 6,676 3,862 (57) 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 332   332    
Issuance of common stock (in shares)   75,000      
Issuance of common stock 9 $ 9      
Other comprehensive income (loss), net of tax 13     13  
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (in shares)   8,000      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other $ 15 $ 12 3   0
Ending Balance (in shares) at Sep. 30, 2023 206,258,727 206,259,000      
Ending Balance at Sep. 30, 2023 $ 10,854 $ 6,697 $ 4,197 $ (44) $ 4
v3.23.3
Consolidated Statements of Changes in Equity (Unaudited) - DTE Energy Company (Parenthetical) - $ / shares
 3 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]        
Dividends declared on common stock (in dollars per share) $ 1.91 $ 0.95 $ 1.77 $ 0.89
v3.23.3
Consolidated Statements of Operations (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating Revenues — Utility operations $ 1,827 $ 2,053 $ 5,504 $ 6,196
Operating Expenses        
Fuel, purchased power, and gas — utility 435 594 1,364 1,901
Taxes other than income 114 111 350 349
Operating Expenses 2,350 4,706 7,764 13,466
Operating Income 538 545 1,587 1,286
Other (Income) and Deductions        
Interest expense 200 171 583 486
Interest income (15) (10) (45) (26)
Non-operating retirement benefits, net 1 (5) 9 (13)
Other income (13) (16) (70) (35)
Other expenses 11 12 26 56
Other (Income) and Deductions 184 152 503 468
Income Before Income Taxes 354 393 1,084 818
Income Tax Expense 22 6 106 0
Net Income Attributable to DTE Energy Company/DTE Electric Company 332 387 978 818
DTE Electric        
Operating Revenues — Utility operations 1,623 1,844 4,324 4,896
Operating Expenses        
Fuel, purchased power, and gas — utility 440 595 1,120 1,551
Operation and maintenance 371 403 1,099 1,167
Depreciation and amortization 334 304 979 899
Taxes other than income 87 85 255 257
Operating Expenses 1,232 1,387 3,453 3,874
Operating Income 391 457 871 1,022
Other (Income) and Deductions        
Interest expense 114 93 319 271
Interest income (3) 0 (14) 0
Non-operating retirement benefits, net (1) (1) (3) (2)
Other income (16) (15) (56) (46)
Other expenses 9 11 22 37
Other (Income) and Deductions 103 88 268 260
Income Before Income Taxes 288 369 603 762
Income Tax Expense 19 6 55 12
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 269 $ 363 $ 548 $ 750
v3.23.3
Consolidated Statements of Comprehensive Income (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net Income $ 332 $ 387 $ 978 $ 818
Other comprehensive income 13 6 18 14
Comprehensive Income 345 393 996 832
DTE Electric        
Net Income 269 363 548 750
Other comprehensive income 0 0 0 0
Comprehensive Income $ 269 $ 363 $ 548 $ 750
v3.23.3
Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 36 $ 33
Restricted cash 30 10
Accounts receivable (less allowance for doubtful accounts of $46 and $49, respectively)    
Accounts receivable 1,393 2,038
Other 173 144
Inventories    
Fuel 463 433
Materials and supplies 647 509
Regulatory assets 135 450
Prepaid property tax 180 76
Other 135 159
Total Current Assets 3,420 4,180
Investments    
Nuclear decommissioning trust funds 1,913 1,825
Other 157 165
Total Investments 2,250 2,155
Property    
Property, plant, and equipment 36,397 39,346
Accumulated depreciation and amortization (8,869) (10,579)
Total Property 27,528 28,767
Other Assets    
Regulatory assets 6,715 3,886
Securitized regulatory assets 178 206
Operating lease right-of-use assets 137 89
Other 253 234
Total Other Assets 10,532 7,581
Total Assets 43,730 42,683
Accounts payable    
Accounts payable 1,135 1,604
Accrued interest 213 154
Current portion long-term debt, including securitization bonds and finance leases 594 1,124
Regulatory liabilities 52 34
Short-term borrowings    
Short-term borrowings 1,217 1,162
Operating lease liabilities 18 13
Other 475 544
Total Current Liabilities 4,045 5,173
Long-Term Debt (net of current portion)    
Securitization bonds 153 172
Finance lease liabilities 9 11
Total Long-Term Debt (net of current portion) 18,542 16,873
Other Liabilities    
Deferred income taxes 2,575 2,394
Regulatory liabilities 2,597 2,673
Asset retirement obligations 3,589 3,460
Unamortized investment tax credit 180 182
Nuclear decommissioning 299 282
Operating lease liabilities 112 68
Other 176 197
Total Other Liabilities 10,289 10,236
Commitments and Contingencies (Notes 5 and 12)
Equity    
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods) 6,697 6,651
Retained earnings 4,197 3,808
Total DTE Energy/DTE Electric Company Equity 10,850 10,397
Total Liabilities and Equity 43,730 42,683
DTE Electric    
Current Assets    
Cash and cash equivalents 13 15
Restricted cash 24 9
Accounts receivable (less allowance for doubtful accounts of $46 and $49, respectively)    
Other 67 75
Inventories    
Fuel 199 167
Materials and supplies 388 331
Regulatory assets 132 421
Prepaid property tax 133 54
Other 31 44
Total Current Assets 1,790 1,851
Investments    
Nuclear decommissioning trust funds 1,913 1,825
Other 49 44
Total Investments 1,962 1,869
Property    
Property, plant, and equipment 27,268 30,591
Accumulated depreciation and amortization (6,376) (8,095)
Total Property 20,892 22,496
Other Assets    
Regulatory assets 6,102 3,219
Securitized regulatory assets 178 206
Prepaid postretirement costs — affiliates 371 345
Operating lease right-of-use assets 105 56
Other 218 194
Total Other Assets 6,974 4,020
Total Assets 31,618 30,236
Accounts payable    
Accrued interest 120 105
Current portion long-term debt, including securitization bonds and finance leases 542 248
Regulatory liabilities 49 33
Short-term borrowings    
Operating lease liabilities 15 9
Other 165 204
Total Current Liabilities 2,182 1,902
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 10,172 9,282
Securitization bonds 153 172
Finance lease liabilities 0 1
Total Long-Term Debt (net of current portion) 10,325 9,455
Other Liabilities    
Deferred income taxes 3,056 2,946
Regulatory liabilities 1,729 1,778
Asset retirement obligations 3,356 3,221
Unamortized investment tax credit 180 182
Nuclear decommissioning 299 282
Accrued pension liability — affiliates 348 387
Accrued postretirement liability — affiliates 277 275
Operating lease liabilities 85 39
Other 69 74
Total Other Liabilities 9,399 9,184
Commitments and Contingencies (Notes 5 and 12)
Equity    
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods) 6,602 6,602
Retained earnings 3,110 3,093
Total DTE Energy/DTE Electric Company Equity 9,712 9,695
Total Liabilities and Equity 31,618 30,236
DTE Electric | Affiliates    
Accounts receivable (less allowance for doubtful accounts of $46 and $49, respectively)    
Accounts receivable 9 8
Accounts payable    
Accounts payable 44 71
Short-term borrowings    
Short-term borrowings 0 27
DTE Electric | Customer/ Other    
Accounts receivable (less allowance for doubtful accounts of $46 and $49, respectively)    
Accounts receivable 794 727
Accounts payable    
Accounts payable 591 637
Short-term borrowings    
Short-term borrowings $ 656 $ 568
v3.23.3
Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current Assets    
Allowance for doubtful accounts $ 76 $ 79
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 206,258,727 205,632,393
Common stock, shares outstanding (in shares) 206,258,727 205,632,393
DTE Electric    
Current Assets    
Allowance for doubtful accounts $ 46 $ 49
Shareholder’s Equity    
Par value (in dollars per share) $ 10 $ 10
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 138,632,324 138,632,324
Common stock, shares outstanding (in shares) 138,632,324 138,632,324
v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net Income $ 978 $ 818
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 1,185 1,093
Nuclear fuel amortization 43 26
Allowance for equity funds used during construction (26) (20)
Deferred income taxes 119 15
Changes in assets and liabilities:    
Accounts receivable, net 614 (150)
Inventories (170) (204)
Accounts payable (438) 228
Regulatory assets and liabilities 509 (552)
Other current and noncurrent assets and liabilities (87) 205
Net cash from operating activities 2,375 1,412
Investing Activities    
Proceeds from sale of nuclear decommissioning trust fund assets 527 707
Investment in nuclear decommissioning trust funds (524) (710)
Net cash used for investing activities (2,941) (2,453)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 2,278 1,771
Redemption of long-term debt (1,146) (316)
Short-term borrowings, net 55 236
Dividends paid on common stock (564) (514)
Other (34) (65)
Net cash from financing activities 589 1,057
Net Increase in Cash, Cash Equivalents, and Restricted Cash 23 16
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 43 35
Cash, Cash Equivalents, and Restricted Cash at End of Period 66 51
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 401 331
DTE Electric    
Operating Activities    
Net Income 548 750
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 979 899
Nuclear fuel amortization 43 26
Allowance for equity funds used during construction (25) (18)
Deferred income taxes 59 11
Changes in assets and liabilities:    
Accounts receivable, net (57) (77)
Inventories (89) (26)
Accounts payable (33) 17
Prepaid postretirement benefit costs — affiliates (26) (37)
Accrued pension liability — affiliates (39) (40)
Accrued postretirement liability — affiliates 2 (6)
Regulatory assets and liabilities 402 (563)
Other current and noncurrent assets and liabilities (183) 166
Net cash from operating activities 1,581 1,102
Investing Activities    
Plant and equipment expenditures (2,215) (1,853)
Proceeds from sale of nuclear decommissioning trust fund assets 527 707
Investment in nuclear decommissioning trust funds (524) (710)
Notes receivable and other (30) (38)
Net cash used for investing activities (2,242) (1,894)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 1,284 1,118
Redemption of long-term debt (121) (316)
Capital contribution by parent company 0 296
Dividends paid on common stock (531) (600)
Other (19) (15)
Net cash from financing activities 674 814
Net Increase in Cash, Cash Equivalents, and Restricted Cash 13 22
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 24 9
Cash, Cash Equivalents, and Restricted Cash at End of Period 37 31
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 295 242
DTE Electric | Affiliates    
Financing Activities    
Short-term borrowings, net (27) 25
DTE Electric | Other    
Financing Activities    
Short-term borrowings, net $ 88 $ 306
v3.23.3
Consolidated Statements of Changes in Shareholder's Equity (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
Total
Common Stock
Retained Earnings
DTE Electric
DTE Electric
Common Stock
DTE Electric
Additional Paid-in Capital
DTE Electric
Retained Earnings
Beginning Balance (in shares) at Dec. 31, 2021   193,748,000     138,632,000    
Beginning Balance at Dec. 31, 2021       $ 8,903 $ 1,386 $ 4,616 $ 2,901
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       201     201
Dividends declared on common stock $ (171)   $ (171) (277)     (277)
Ending Balance (in shares) at Mar. 31, 2022   193,739,000     138,632,000    
Ending Balance at Mar. 31, 2022       8,827 $ 1,386 4,616 2,825
Beginning Balance (in shares) at Dec. 31, 2021   193,748,000     138,632,000    
Beginning Balance at Dec. 31, 2021       8,903 $ 1,386 4,616 2,901
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income 818     750      
Ending Balance (in shares) at Sep. 30, 2022   193,742,000     138,632,000    
Ending Balance at Sep. 30, 2022       9,349 $ 1,386 4,912 3,051
Beginning Balance (in shares) at Mar. 31, 2022   193,739,000     138,632,000    
Beginning Balance at Mar. 31, 2022       8,827 $ 1,386 4,616 2,825
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       186     186
Dividends declared on common stock (343)   (343) (162)     (162)
Ending Balance (in shares) at Jun. 30, 2022   193,736,000     138,632,000    
Ending Balance at Jun. 30, 2022       8,851 $ 1,386 4,616 2,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 387     363     363
Dividends declared on common stock       (161)     (161)
Capital contribution by parent company       296   296  
Ending Balance (in shares) at Sep. 30, 2022   193,742,000     138,632,000    
Ending Balance at Sep. 30, 2022       $ 9,349 $ 1,386 4,912 3,051
Beginning Balance (in shares) at Dec. 31, 2022 205,632,393 205,632,000   138,632,324 138,632,000    
Beginning Balance at Dec. 31, 2022 $ 10,397     $ 9,695 $ 1,386 5,216 3,093
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       100     100
Dividends declared on common stock $ (196)   (196) (182)     (182)
Ending Balance (in shares) at Mar. 31, 2023   206,109,000     138,632,000    
Ending Balance at Mar. 31, 2023       $ 9,613 $ 1,386 5,216 3,011
Beginning Balance (in shares) at Dec. 31, 2022 205,632,393 205,632,000   138,632,324 138,632,000    
Beginning Balance at Dec. 31, 2022 $ 10,397     $ 9,695 $ 1,386 5,216 3,093
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 978     $ 548      
Ending Balance (in shares) at Sep. 30, 2023 206,258,727 206,259,000   138,632,324 138,632,000    
Ending Balance at Sep. 30, 2023 $ 10,850     $ 9,712 $ 1,386 5,216 3,110
Beginning Balance (in shares) at Mar. 31, 2023   206,109,000     138,632,000    
Beginning Balance at Mar. 31, 2023       9,613 $ 1,386 5,216 3,011
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       179     179
Dividends declared on common stock (393)   $ (393) (174)     (174)
Ending Balance (in shares) at Jun. 30, 2023   206,176,000     138,632,000    
Ending Balance at Jun. 30, 2023       9,618 $ 1,386 5,216 3,016
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 332     269     269
Dividends declared on common stock       $ (175)     (175)
Ending Balance (in shares) at Sep. 30, 2023 206,258,727 206,259,000   138,632,324 138,632,000    
Ending Balance at Sep. 30, 2023 $ 10,850     $ 9,712 $ 1,386 $ 5,216 $ 3,110
v3.23.3
Organization and Basis of Presentation
 9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Basis of Presentation ORGANIZATION AND BASIS OF PRESENTATION
Corporate Structure
DTE Energy owns the following businesses:
•DTE Electric is a public utility engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.3 million customers in southeastern Michigan
•DTE Gas is a public utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million customers throughout Michigan and the sale of storage and transportation capacity
•Other businesses include (1) DTE Vantage, which is primarily involved in renewable natural gas projects and providing custom energy solutions to industrial, commercial, and institutional customers, and 2) energy marketing and trading operations
DTE Electric and DTE Gas are regulated by the MPSC. Certain activities of DTE Electric and DTE Gas, as well as various other aspects of businesses under DTE Energy, are regulated by the FERC. In addition, the Registrants are regulated by other federal and state regulatory agencies including the NRC, the EPA, EGLE, and for DTE Energy, the CFTC and CARB.
Basis of Presentation
The Consolidated Financial Statements should be read in conjunction with the Combined Notes to Consolidated Financial Statements included in the combined DTE Energy and DTE Electric 2022 Annual Report on Form 10-K.
The accompanying Consolidated Financial Statements of the Registrants are prepared using accounting principles generally accepted in the United States of America. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from the Registrants' estimates.
The Consolidated Financial Statements are unaudited but, in the Registrants' opinions, include all adjustments necessary to present a fair statement of the results for the interim periods. All adjustments are of a normal recurring nature, except as otherwise disclosed in these Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2023.
The information in these combined notes relates to each of the Registrants as noted in the Index of Combined Notes to Consolidated Financial Statements. However, DTE Electric does not make any representation as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.
Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation.
Principles of Consolidation
The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the equity investment is valued at cost minus any impairments, if applicable. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions.
The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.
Legal entities within the DTE Vantage segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are generally accounted for under the equity method.
The Registrants hold ownership interests in certain limited partnerships. The limited partnerships include investment funds which support regional development and economic growth, and an operational business providing energy-related products. These entities are generally VIEs as a result of certain characteristics of the limited partnership voting rights. The ownership interests are accounted for under the equity method as the Registrants are not the primary beneficiaries.
DTE Energy has variable interests in VIEs through certain of its long-term purchase and sale contracts. DTE Electric has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2023, the carrying amount of assets and liabilities in DTE Energy's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts are predominantly related to working capital accounts and generally represent the amounts owed by or to DTE Energy for the deliveries associated with the current billing cycle under the contracts. As of September 30, 2023, the carrying amount of assets and liabilities in DTE Electric's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominantly related to working capital accounts and generally represent the amounts owed by DTE Electric for the deliveries associated with the current billing cycle under the contracts. The Registrants have not provided any significant form of financial support associated with these long-term contracts. There is no material potential exposure to loss as a result of DTE Energy's variable interests through these long-term purchase and sale contracts. In addition, there is no material potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts.
During 2022, DTE Electric financed regulatory assets for previously deferred costs related to the River Rouge generation plant and tree trimming surge program through the sale of bonds by a wholly-owned special purpose entity, DTE Securitization. DTE Securitization is a VIE. DTE Electric has the power to direct the most significant activities of DTE Securitization, including performing servicing activities such as billing and collecting surcharge revenue. Accordingly, DTE Electric is the primary beneficiary and DTE Securitization is consolidated by the Registrants. Securitization bond holders have no recourse to the Registrants' assets, except for those held by DTE Securitization. Surcharges collected by DTE Electric to pay for bond servicing and other qualified costs reflect securitization property solely owned by DTE Securitization. These surcharges are remitted to a trustee and are not available to other creditors of the Registrants.
The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, and future funding commitments.
The table below summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2023 and December 31, 2022. All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. Assets and liabilities of the VIEs are presented in aggregate due to the similar nature of the entities, except for DTE Electric amounts that reflect DTE Securitization and are separately stated. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below.
During the third quarter 2023, a consolidated VIE of DTE Vantage entered into a contract that restricts certain assets of the VIE to be used only to settle the VIE's obligations. As a result, the assets and liabilities of the VIE, which primarily include receivables and payables recognized in 2023, no longer meet the exclusion criteria above. Accordingly, these assets and liabilities have been added to the DTE Energy amounts in the table below.
Amounts for the Registrants' consolidated VIEs are as follows:
September 30, 2023December 31, 2022
DTE Energy
DTE Electric(a)
DTE Energy
DTE Electric(a)
(In millions)
ASSETS
Cash and cash equivalents$11 $— $14 $— 
Restricted cash28 23 9 9 
Accounts receivable115 2 6 3 
Securitized regulatory assets178 178 206 206 
Notes receivable153 — 81 — 
Other current and long-term assets2 — 8 — 
$487 $203 $324 $218 
LIABILITIES
Accounts payable$57 $— $3 $— 
Short-term borrowings— — 81 — 
Securitization bonds(b)
193 193 211 211 
Other current and long-term liabilities18 10 11 9 
$268 $203 $306 $220 
_______________________________________
(a)DTE Electric amounts reflect DTE Securitization.
(b)Includes $40 million and $39 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the periods ended September 30, 2023 and December 31, 2022, respectively.
Amounts for DTE Energy's non-consolidated VIEs are as follows:
September 30, 2023December 31, 2022
(In millions)
Investments in equity method investees$125 $137 
Notes receivable$15 $15 
Future funding commitments$1 $2 
v3.23.3
Significant Accounting Policies
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES
Other Income
The following is a summary of DTE Energy's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Allowance for equity funds used during construction$8 $6 $26 $20 
Contract services5 7 18 21 
Investment income(a)
— — 9 — 
Equity earnings (losses) of equity method investees3 — 7 (15)
Other(3)3 10 9 
$13 $16 $70 $35 
_______________________________________
(a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations.
The following is a summary of DTE Electric's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Allowance for equity funds used during construction$8 $6 $25 $18 
Contract services6 7 18 21 
Investment income(a)
— — 6 — 
Other2 2 7 7 
$16 $15 $56 $46 
_______________________________________
(a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations.
Changes in Accumulated Other Comprehensive Income (Loss)
Comprehensive income (loss) is the change in common shareholders' equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for DTE Energy include changes in benefit obligations, consisting of deferred actuarial losses and prior service costs, unrealized gains and losses from derivatives accounted for as cash flow hedges, and foreign currency translation adjustments, if any. DTE Energy releases income tax effects from accumulated other comprehensive income when the circumstances upon which they are premised cease to exist.
Changes in Accumulated other comprehensive income (loss) are presented in DTE Energy's Consolidated Statements of Changes in Equity and DTE Electric's Consolidated Statements of Changes in Shareholder's Equity, if any. For the three and nine months ended September 30, 2023 and 2022, reclassifications out of Accumulated other comprehensive income (loss) were not material.
Income Taxes
Tax rates are affected by estimated annual permanent items, production and investment tax credits, regulatory adjustments, and discrete items that may occur in any given period, but are not consistent from period to period. The tables below summarize how the Registrants' effective income tax rates have varied from the statutory federal income tax rate:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
DTE Energy
Statutory federal income tax rate21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit4.8 4.4 4.5 4.5 
Production tax credits(7.8)(9.1)(6.4)(9.4)
TCJA amortization(4.9)(13.6)(4.2)(14.8)
Investment tax credits(3.8)— (2.6)(0.1)
Enactment of West Virginia income tax legislation, net of federal benefit— — (0.6)— 
Other(3.0)(1.2)(1.9)(1.2)
Effective income tax rate6.3 %1.5 %9.8 %— %
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
DTE Electric
Statutory federal income tax rate21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit5.7 5.7 5.7 5.7 
Production tax credits(11.1)(9.5)(9.4)(9.2)
TCJA amortization(6.9)(14.6)(5.9)(15.0)
Other(1.9)(0.9)(2.2)(0.9)
Effective income tax rate6.8 %1.7 %9.2 %1.6 %
DTE Electric had income tax receivables with DTE Energy of $7 million at September 30, 2023, primarily related to federal taxes, and $1 million at December 31, 2022, primarily related to state taxes, which are included in Accounts Receivable — Affiliates on the DTE Electric Consolidated Statements of Financial Position.
During the second quarter 2023, DTE Energy and DTE Electric unrecognized tax benefits decreased by $10 million and $13 million, respectively, as a result of an audit settlement related to state exposures. Recognition of these state tax benefits, net of federal benefit, resulted in a reduction of $8 million and $10 million to Income Tax Expense on the respective DTE Energy and DTE Electric Consolidated Statements of Operations for the nine months ended September 30, 2023.
During the third quarter 2023, DTE Energy unrecognized tax benefits decreased by an additional $5 million due to recognition of a federal tax claim. Recognition of this federal tax benefit resulted in a $5 million reduction to Income Tax Expense on the DTE Energy Consolidated Statements of Operations for the three and nine months ended September 30, 2023. As of September 30, 2023, DTE Energy and DTE Electric have no remaining unrecognized tax benefits.
As of December 31, 2022, DTE Energy and DTE Electric had $5 million and $8 million of accrued interest pertaining to income taxes, respectively, included in Accrued Interest on the Consolidated Statements of Financial Position. As a result of the state tax audit settlement noted above, the Registrants have no remaining accrued interest pertaining to income taxes.
Unrecognized Compensation Costs
As of September 30, 2023, DTE Energy had $77 million of total unrecognized compensation cost related to non-vested stock incentive plan arrangements. That cost is expected to be recognized over a weighted-average period of 1.4 years.
Allocated Stock-Based Compensation
DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $7 million and $9 million for the three months ended September 30, 2023 and 2022, respectively, while such allocation was $27 million and $30 million for the nine months ended September 30, 2023 and 2022, respectively.
Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash includes funds held in separate bank accounts and principally consists of amounts at DTE Securitization to pay for debt service and other qualified costs. Restricted cash designated for payments within one year is classified as a Current Asset.
Financing Receivables
Financing receivables are primarily composed of trade receivables, notes receivable, and unbilled revenue. The Registrants' financing receivables are stated at net realizable value.
The Registrants monitor the credit quality of their financing receivables on a regular basis by reviewing credit quality indicators and monitoring for trigger events, such as a credit rating downgrade or bankruptcy. Credit quality indicators include, but are not limited to, ratings by credit agencies where available, collection history, collateral, counterparty financial statements and other internal metrics. Utilizing such data, the Registrants have determined three internal grades of credit quality. Internal grade 1 includes financing receivables for counterparties where credit rating agencies have ranked the counterparty as investment grade. To the extent credit ratings are not available, the Registrants utilize other credit quality indicators to determine the level of risk associated with the financing receivable. Internal grade 1 may include financing receivables for counterparties for which credit rating agencies have ranked the counterparty as below investment grade; however, due to favorable information on other credit quality indicators, the Registrants have determined the risk level to be similar to that of an investment grade counterparty. Internal grade 2 includes financing receivables for counterparties with limited credit information and those with a higher risk profile based upon credit quality indicators. Internal grade 3 reflects financing receivables for which the counterparties have the greatest level of risk, including those in bankruptcy status.
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk, including current year-to-date gross write-offs, if any. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2023.
DTE EnergyDTE Electric
Year of Origination
202320222021 and PriorTotal2023 and Prior
(In millions)
Notes receivable
Internal grade 1$14 $— $6 $20 $16 
Internal grade 219 85 17 121 — 
Total notes receivable(a)
$33 $85 $23 $141 $16 
Net investment in leases
Internal grade 1$— $— $37 $37 $— 
Internal grade 2— 65 185 250 — 
Total net investment in leases(a)
$— $65 $222 $287 $— 
_______________________________________
(a)For DTE Energy and DTE Electric, the current portion is included in Current Assets — Other on the respective Consolidated Statements of Financial Position. For DTE Electric, the noncurrent portion is included in Other Assets — Other.
The allowance for doubtful accounts on accounts receivable for the utility entities is generally calculated using an aging approach that utilizes rates developed in reserve studies. DTE Electric and DTE Gas establish an allowance for uncollectible accounts based on historical losses and management's assessment of existing and future economic conditions, customer trends and other factors. Customer accounts are generally considered delinquent if the amount billed is not received by the due date, which is typically in 21 days, however, factors such as assistance programs may delay aggressive action. DTE Electric and DTE Gas generally assess late payment fees on trade receivables based on past-due terms with customers. Customer accounts are written off when collection efforts have been exhausted. The time period for write-off is 150 days after service has been terminated.
The customer allowance for doubtful accounts for non-utility businesses and other receivables for both utility and non-utility businesses is generally calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. Existing and future economic conditions, customer trends and other factors are also considered. Receivables are written off on a specific identification basis and determined based upon the specific circumstances of the associated receivable.
Notes receivable for DTE Energy are primarily comprised of finance lease receivables and loans that are included in Notes Receivable and Other current assets on DTE Energy's Consolidated Statements of Financial Position. Notes receivable for DTE Electric are primarily comprised of loans.
The Registrants establish an allowance for credit loss for principal and interest amounts due that are estimated to be uncollectible in accordance with the contractual terms of the note receivable. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty's ability to pay including existing and future economic conditions. Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. If amounts are no longer probable of collection, the Registrants may consider the note receivable impaired, adjust the allowance, and cease accruing interest (nonaccrual status).
Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to the contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current.
The following tables present a roll-forward of the activity for the Registrants' financing receivables credit loss reserves:
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2023$78 $1 $79 $49 
Current period provision44 — 44 28 
Write-offs charged against allowance(78)— (78)(51)
Recoveries of amounts previously written off31 — 31 20 
Ending reserve balance, September 30, 2023$75 $1 $76 $46 
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2022$89 $3 $92 $54 
Current period provision49 — 49 33 
Write-offs charged against allowance(105)(2)(107)(66)
Recoveries of amounts previously written off45 — 45 28 
Ending reserve balance, December 31, 2022$78 $1 $79 $49 
Uncollectible expense for the Registrants is primarily comprised of the current period provision for allowance for doubtful accounts and is summarized as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
DTE Energy$10 $12 $45 $46 
DTE Electric$11 $12 $28 $28 
There are no material amounts of past due financing receivables for the Registrants as of September 30, 2023.
v3.23.3
New Accounting Pronouncements
 9 Months Ended
Sep. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Pronouncements NEW ACCOUNTING PRONOUNCEMENTS
Recently Adopted Pronouncements
In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the Current Expected Credit Loss (“CECL”) model under ASC 326 and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. Additionally, the amendments require the disclosure of current period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The Registrants adopted the ASU effective January 1, 2023 using the prospective approach, with no impact on the Registrants' financial position or results of operations. Gross write-offs, if any, will be disclosed in the Financing Receivables section of Note 2 to the Consolidated Financial Statements, "Significant Accounting Policies."
v3.23.3
Revenue
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Disaggregation of Revenue
The following is a summary of revenues disaggregated by segment for DTE Energy:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Electric(a)
Residential$861 $882 $2,173 $2,273 
Commercial585 541 1,604 1,505 
Industrial190 167 545 498 
Other(b)
(10)257 12 631 
Total Electric operating revenues$1,626 $1,847 $4,334 $4,907 
Gas
Gas sales$119 $128 $936 $955 
End User Transportation44 42 184 195 
Intermediate Transportation16 15 63 60 
Other(b)
48 45 62 148 
Total Gas operating revenues$227 $230 $1,245 $1,358 
Other segment operating revenues
DTE Vantage$199 $227 $572 $626 
Energy Trading$893 $3,024 $3,365 $8,059 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $3 million of Other revenues related to DTE Sustainable Generation for both the three months ended September 30, 2023 and 2022, and $10 million and $11 million for the nine months ended September 30, 2023 and 2022, respectively.
(b)Includes revenue adjustments related to various regulatory mechanisms, including the PSCR at the Electric segment and GCR at the Gas segment. Revenues related to these mechanisms may vary based on changes in the cost of fuel, purchased power, and gas.
Revenues included the following which were outside the scope of Topic 606:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Electric — Other revenues $8 $7 $18 $15 
Gas — Alternative Revenue Programs$— $— $4 $— 
Gas — Other revenues$2 $2 $7 $6 
DTE Vantage — Leases$19 $24 $44 $63 
Energy Trading — Derivatives$670 $2,531 $2,527 $6,691 
Deferred Revenue
The following is a summary of deferred revenue activity:
DTE Energy
(In millions)
Beginning Balance, January 1, 2023$94 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period113 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(42)
Ending Balance, September 30, 2023$165 
The deferred revenues at DTE Energy generally represent amounts paid by or receivables from customers for which the associated performance obligation has not yet been satisfied. Deferred revenues include amounts associated with REC performance obligations under certain wholesale full requirements power contracts. Deferred revenues associated with RECs are recognized as revenue when control of the RECs has transferred. Other performance obligations associated with deferred revenues include providing products and services related to customer prepayments. Deferred revenues associated with these products and services are recognized when control has transferred to the customer.
The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:
DTE Energy
(In millions)
2023$95 
202468 
20251 
20261 
2027— 
2028 and thereafter— 
$165 
Transaction Price Allocated to the Remaining Performance Obligations
In accordance with optional exemptions available under Topic 606, the Registrants did not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Registrants have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation.
Such contracts consist of varying types of performance obligations across the segments, including the supply and delivery of energy related products and services. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Contract lengths vary from cancellable to multi-year.
The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:
DTE EnergyDTE Electric
(In millions)
2023$33 $2 
2024247 8 
2025184 — 
202699 — 
202767 — 
2028 and thereafter375 — 
$1,005 $10 
v3.23.3
Regulatory Matters
 9 Months Ended
Sep. 30, 2023
Public Utilities, General Disclosures [Abstract]  
Regulatory Matters REGULATORY MATTERS
Ludington Accounting Application
During April 2022, DTE Electric and Consumers Energy Company (“Consumers”) filed a complaint against Toshiba America Energy Systems (“TAES”) and its parent corporation for defective and non-conforming work relating to the overhaul and upgrade of the Ludington Hydroelectric Pumped Storage Plant (“Ludington”). Refer to the Ludington Plant Contract Dispute section of Note 12 to the Consolidated Financial Statements, “Commitments and Contingencies,” for additional information regarding the complaint and ongoing legal proceedings.
DTE Electric and Consumers, joint owners of Ludington, believe that certain costs must be incurred in the near term for repairing and/or replacing defective work performed by TAES in order to ensure the continued safe and reliable operation of the plant. In November 2022, DTE Electric and Consumers filed an accounting application with the MPSC for authority to defer these costs as a regulatory asset. DTE Electric and Consumers requested the regulatory asset for their respective 49% and 51% shares of these costs, to be offset by any potential litigation proceeds. The parties also requested that appropriate recovery and ratemaking treatment be granted in a future rate case or other proceeding. In May 2023, the MPSC approved the accounting application as requested. Costs incurred and deferred as regulatory assets will be reviewed in future rate proceedings for cost recovery.
2023 Electric Rate Case Filing
DTE Electric filed a rate case with the MPSC on February 10, 2023 requesting an increase in base rates of $622 million based on a projected twelve-month period ending November 30, 2024, and an increase in return on equity from 9.9% to 10.25%. The requested increase in base rates is primarily due to increased investments in plant involving generation and the electric distribution system, as well as related increases to depreciation and property tax expenses. These investments will support DTE Energy's goals to reduce carbon emissions and improve power reliability. The requested increase in base rates is also due to a projected sales decline from the level included in current rates and inflationary impacts on operating and interest costs. A final MPSC order in this case is expected in December 2023.
2023 Securitization Filing
On April 3, 2023, DTE Electric filed an application with the MPSC requesting a financing order to approve the securitization of $496 million of qualified costs related to the net book value of the St. Clair and Trenton Channel generation plants. The filing requested recovery of these qualifying costs from DTE Electric's customers.
The MPSC issued a financing order on June 22, 2023 authorizing DTE Electric to proceed with the issuance of Securitization bonds for qualified costs up to $602 million, increased for the inclusion of deferred income taxes. These costs include up to $594 million for the net book value of the St. Clair and Trenton Channel plants and up to $8 million for other qualified costs. The financing order further authorized customer charges for the timely recovery of debt service costs on the Securitization bonds and other ongoing qualified costs.
On November 1, 2023, DTE Electric closed on the issuance of Securitization bonds of $602 million, including two separate tranches of $301 million. Refer to Note 9 to the Consolidated Financial Statements, "Long-Term Debt," for additional information regarding the terms of the bonds and use of proceeds. For the fourth quarter, DTE Electric will reclassify $594 million of Regulatory assets to Securitized regulatory assets for the net book value of the St. Clair and Trenton Channel plants. Debt service costs for the first tranche will be recovered over a period not to exceed 10 years and costs for the second tranche will be recovered over a period not to exceed 15 years.
Integrated Resource Plan
In November 2022, DTE Electric filed an Integrated Resource Plan (IRP) with the MPSC, a comprehensive plan to meet the electricity needs of customers over the next 20 years. The IRP included details on planned coal plant retirements and replacement generation, including investments in renewables and battery storage, with a focus on providing increasingly clean, reliable, and affordable electricity to customers.
On July 12, 2023, DTE Energy announced that DTE Electric reached a settlement agreement with the various stakeholders involved in the IRP. The MPSC issued an order approving the settlement agreement on July 26, 2023. The agreement confirmed DTE Electric's plans to convert its Belle River facility from a coal-fired power plant to a natural gas peaking resource in 2025-2026, and to retire the Monroe power plant generation units 3 and 4 in 2028. DTE Electric also accelerated its planned retirement of Monroe generation units 1 and 2 from 2035 to 2032.
The settlement agreement approved the recovery of undepreciated plant costs that will be retired at Belle River and Monroe. As a result, approximately $2.7 billion of net Property, plant, and equipment was reclassified to a long-term regulatory asset during the third quarter 2023. Future capital expenditures will also be recovered, and the regulatory asset will be remeasured each reporting period for changes in expenditures, retirements, and depreciation.
DTE Electric will securitize $1.05 billion of the plant costs, including approximately $200 million for the estimated net book value of Belle River coal handling assets to be retired in 2025-2026. The remaining $845 million reflects the net book value of Monroe assets to be securitized upon the full retirement of the plant in 2032. Securitization will include the issuance of bonds for the respective plant costs and customer charges for the timely recovery of debt service costs. DTE Electric plans to reclassify amounts to Securitized regulatory assets upon completing the respective securitization financings. Terms of the securitization bonds and recovery periods for the debt service costs will also be determined at that time.
For the remaining net book value of Monroe plant assets, approximately $1.6 billion will be recovered through a regulatory asset with a return on equity of 9.0% and will be amortized over a 15-year period. Amortization will begin upon the issuance of an order in DTE Electric's next rate case, which is currently expected in early 2025. Until then, amounts will continue to be depreciated.
Pursuant to the IRP settlement agreement, DTE Electric has also committed to donate a total of $38 million, including $2 million each year from 2024 to 2027 to organizations providing various energy support to low-income customers. The remaining $30 million of donations will be made to organizations providing customers with bill assistance. The $30 million of donations may be made in varying annual amounts over the 15-year period of the Monroe regulatory asset discussed above, with a minimum amount of $1 million each year beginning in 2028. Organizations receiving donations will be determined at a later date in consultation with Michigan's Attorney General and MPSC staff, among others. Donations will not be recovered in rates and will be recorded as Other Expenses on the Consolidated Statements of Operations in future periods as the donations occur.
v3.23.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
Basic earnings per share is calculated by dividing net income, adjusted for income allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares. DTE Energy’s participating securities are restricted shares under the stock incentive program that contain rights to receive non-forfeitable dividends. Equity units and performance shares do not receive cash dividends; as such, these awards are not considered participating securities.
The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company$332 $387 $978 $818 
Less: Allocation of earnings to net restricted stock awards— 1 2 2 
Net income available to common shareholders — basic$332 $386 $976 $816 
Average number of common shares outstanding — basic206 193 206 193 
Basic Earnings per Common Share$1.61 $2.00 $4.74 $4.22 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company$332 $387 $978 $818 
Less: Allocation of earnings to net restricted stock awards— 1 2 2 
Net income available to common shareholders — diluted$332 $386 $976 $816 
Average number of common shares outstanding — basic206 193 206 193 
Average performance share awards— 1 — 1 
Average number of common shares outstanding — diluted206 194 206 194 
Diluted Earnings per Common Share(a)
$1.61 $1.99 $4.74 $4.21 
_______________________________________
(a)Equity units excluded from the calculation of diluted EPS were approximately 10.1 million and 10.2 million for the three and nine months ended September 30, 2022, respectively, as the dilutive stock price threshold was not met. The equity units were settled in November 2022 resulting in the issuance of common stock.
v3.23.3
Fair Value
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Fair Value FAIR VALUE
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Registrants make certain assumptions they believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. Credit risk of the Registrants and their counterparties is incorporated in the valuation of assets and liabilities through the use of credit reserves, the impact of which was immaterial at September 30, 2023 and December 31, 2022. The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs.
A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows:
•Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date.
•Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.
•Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints.
The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis:
September 30, 2023December 31, 2022
Level
1		Level
2		Level
3
Other(a)
Netting(b)
Net BalanceLevel
1		Level
2		Level
3
Other(a)
Netting(b)
Net Balance
(In millions)
Assets
Cash equivalents(c)
$27 $— $— $— $— $27 $10 $— $— $— $— $10 
Nuclear decommissioning trusts
Equity securities716 — — 136 — 852 701 — — 138 — 839 
Fixed income securities105 346 — 91 — 542 115 359 — 89 — 563 
Private equity and other— — — 308 — 308 — — — 262 — 262 
Hedge funds and similar investments106 66 — — — 172 78 41 — — — 119 
Cash equivalents39 — — — — 39 42 — — — — 42 
Other investments(d)
Equity securities54 — — — — 54 56 — — — — 56 
Fixed income securities7 — — — — 7 7 — — — — 7 
Cash equivalents35 — — — — 35 72 — — — — 72 
Derivative assets
Commodity contracts(e)
Natural gas140 143 158 — (299)142 426 183 135 — (649)95 
Electricity— 223 110 — (198)135 — 720 243 — (643)320 
Environmental & Other— 154 17 — (162)9 — 201 12 — (196)17 
Other contracts — 23 — — — 23 — 2 — — (1)1 
Total derivative assets140 543 285 — (659)309 426 1,106 390 — (1,489)433 
Total$1,229 $955 $285 $535 $(659)$2,345 $1,507 $1,506 $390 $489 $(1,489)$2,403 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(124)$(166)$(186)$— $301 $(175)$(297)$(331)$(390)$— $645 $(373)
Electricity— (212)(106)— 208 (110)— (659)(276)— 665 (270)
Environmental & Other— (169)(6)— 162 (13)— (213)(1)— 201 (13)
Other contracts— (1)— — — (1)— (2)— — 1 (1)
Total$(124)$(548)$(298)$— $671 $(299)$(297)$(1,205)$(667)$— $1,512 $(657)
Net Assets (Liabilities) at end of period$1,105 $407 $(13)$535 $12 $2,046 $1,210 $301 $(277)$489 $23 $1,746 
Assets
Current$137 $427 $196 $— $(505)$255 $360 $881 $286 $— $(1,189)$338 
Noncurrent1,092 528 89 535 (154)2,090 1,147 625 104 489 (300)2,065 
Total Assets$1,229 $955 $285 $535 $(659)$2,345 $1,507 $1,506 $390 $489 $(1,489)$2,403 
Liabilities
Current$(101)$(410)$(146)$— $512 $(145)$(273)$(876)$(386)$— $1,193 $(342)
Noncurrent(23)(138)(152)— 159 (154)(24)(329)(281)— 319 (315)
Total Liabilities$(124)$(548)$(298)$— $671 $(299)$(297)$(1,205)$(667)$— $1,512 $(657)
Net Assets (Liabilities) at end of period$1,105 $407 $(13)$535 $12 $2,046 $1,210 $301 $(277)$489 $23 $1,746 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.
(c)Amounts include $25 million and $10 million of cash equivalents recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at September 30, 2023 and December 31, 2022, respectively. All other amounts are included in Cash and cash equivalents on DTE Energy's Consolidated Statements of Financial Position.
(d)Excludes cash surrender value of life insurance investments and certain securities classified as held-to-maturity that are recorded at amortized cost and not material to the consolidated financial statements.
(e)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of:
September 30, 2023December 31, 2022
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(b)
$23 $— $— $— $23 $9 $— $— $— $9 
Nuclear decommissioning trusts
Equity securities716 — — 136 852 701 — — 138 839 
Fixed income securities105 346 — 91 542 115 359 — 89 563 
Private equity and other— — — 308 308 — — — 262 262 
Hedge funds and similar investments106 66 — — 172 78 41 — — 119 
Cash equivalents39 — — — 39 42 — — — 42 
Other investments
Equity securities19 — — — 19 16 — — — 16 
Cash equivalents12 — — — 12 11 — — — 11 
Derivative assets — FTRs— — 10 — 10 — — 11 — 11 
Total$1,020 $412 $10 $535 $1,977 $972 $400 $11 $489 $1,872 
Assets
Current$23 $— $10 $— $33 $9 $— $11 $— $20 
Noncurrent997 412 — 535 1,944 963 400 — 489 1,852 
Total Assets$1,020 $412 $10 $535 $1,977 $972 $400 $11 $489 $1,872 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Cash equivalents of $23 million and $9 million are included in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at September 30, 2023 and December 31, 2022, respectively.
Cash Equivalents
Cash equivalents include investments with maturities of three months or less when purchased. The cash equivalents shown in the fair value table are comprised of short-term investments and money market funds.
Nuclear Decommissioning Trusts and Other Investments
The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly, as well as publicly-traded commingled funds, are valued using quoted market prices in actively traded markets. Non-exchange traded fixed income securities are valued based upon quotations available from brokers or pricing services.
Non-publicly traded commingled funds holding exchange-traded equity or debt securities are valued based on stated NAVs. There are no significant restrictions for these funds and investments may be redeemed with 7 to 65 days notice depending on the fund. There is no intention to sell the investment in these commingled funds.
Private equity and other assets include a diversified group of funds that are classified as NAV assets. These funds primarily invest in limited partnerships, including private equity, private real estate and private credit. Distributions are received through the liquidation of the underlying fund assets over the life of the funds. There are generally no redemption rights. The limited partner must hold the fund for its life or find a third-party buyer, which may need to be approved by the general partner. The funds are established with varied contractual durations generally in the range of 7 years to 12 years. The fund life can often be extended by several years by the general partner, and further extended with the approval of the limited partners. Unfunded commitments related to these investments totaled $158 million and $177 million as of September 30, 2023 and December 31, 2022, respectively.
Hedge funds and similar investments utilize a diversified group of strategies that attempt to capture uncorrelated sources of return. These investments include publicly traded mutual funds that are valued using quoted prices in actively traded markets, as well as insurance-linked and asset-backed securities that are valued using quotations from broker or pricing services.
For pricing the nuclear decommissioning trusts and other investments, a primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary source of a given security if the trustee determines that another price source is considered preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.
Derivative Assets and Liabilities
Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy.
The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy:
Three Months Ended September 30, 2023Three Months Ended September 30, 2022
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of June 30$(54)$(4)$16 $(42)$(362)$(96)$30 $(428)
Transfers into Level 3 from Level 2— — — — (3)— — (3)
Transfers from Level 3 into Level 2— — — — — — (5)(5)
Total gains (losses)
Included in earnings(a)
1 79 (1)79 (32)40 (1)7 
Recorded in Regulatory liabilities— — (2)(2)— — (4)(4)
Purchases, issuances, and settlements
Settlements25 (71)(2)(48)84 (20)(5)59 
Net Assets (Liabilities) as of September 30$(28)$4 $11 $(13)$(313)$(76)$15 $(374)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30(a)
$4 $26 $(6)$24 $29 $37 $(5)$61 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $1 $1 $— $— $(1)$(1)
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
Nine Months Ended September 30, 2023Nine Months Ended September 30, 2022
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$(255)$(33)$11 $(277)$(179)$(45)$9 $(215)
Transfers from Level 3 into Level 2— — — — 5 — 5 
Total gains (losses)
Included in earnings(a)
163 109 1 273 (382)22 1 (359)
Recorded in Regulatory liabilities— — 3 3 — — 20 20 
Purchases, issuances, and settlements
Settlements64 (72)(4)(12)243 (53)(15)175 
Net Assets (Liabilities) as of September 30$(28)$4 $11 $(13)$(313)$(76)$15 $(374)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30a)
$94 $94 $(36)$152 $(248)$(2)$(31)$(281)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $10 $10 $— $— $16 $16 
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Net Assets as of beginning of period$14 $25 $11 $9 
Total gains (losses) recorded in Regulatory liabilities(2)(4)3 20 
Purchases, issuances, and settlements
Settlements(2)(5)(4)(13)
Net Assets as of September 30$10 $16 $10 $16 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$1 $(1)$10 $16 
Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period. There were no transfers from or into Level 3 for DTE Electric during the three and nine months ended months ended September 30, 2023 and 2022.
The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:
September 30, 2023
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$158 $(186)Discounted Cash FlowForward basis price (per MMBtu)$(1.69)—$4.79 /MMBtu$0.01 /MMBtu
Electricity$110 $(106)Discounted Cash FlowForward basis price (per MWh)$(17.56)—$12.03 /MWh$(4.15)/MWh
December 31, 2022
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$135 $(390)Discounted Cash FlowForward basis price (per MMBtu)$(1.91)—$39.94 /MMBtu$0.18 /MMBtu
Electricity$243 $(276)Discounted Cash FlowForward basis price (per MWh)$(29.41)—$15.00 /MWh$(3.04)/MWh
The unobservable inputs used in the fair value measurement of the electricity and natural gas commodity types consist of inputs that are less observable due in part to lack of available broker quotes, supported by little, if any, market activity at the measurement date or are based on internally developed models. Certain basis prices (i.e., the difference in pricing between two locations) included in the valuation of natural gas and electricity contracts were deemed unobservable. The weighted average price for unobservable inputs was calculated using the average of forward price curves for natural gas and electricity and the absolute value of monthly volumes.
The inputs listed above would have had a direct impact on the fair values of the above security types if they were adjusted. A significant increase (decrease) in the basis price would have resulted in a higher (lower) fair value for long positions, with offsetting impacts to short positions.
Fair Value of Financial Instruments
The following table presents the carrying amount and fair value of financial instruments for DTE Energy:
September 30, 2023December 31, 2022
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$141 $— $— $141 $80 $— $— $82 
Short-term borrowings$1,217 $— $1,217 $— $1,162 $— $1,162 $— 
Notes payable(b)
$20 $— $— $20 $18 $— $— $18 
Long-term debt(c)
$19,123 $742 $14,875 $934 $17,978 $710 $14,084 $1,199 
_______________________________________
(a)Current portion included in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
The following table presents the carrying amount and fair value of financial instruments for DTE Electric:
September 30, 2023December 31, 2022
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$16 $— $— $16 $17 $— $— $17 
Short-term borrowings — affiliates$— $— $— $— $27 $— $— $27 
Short-term borrowings — other$656 $— $656 $— $568 $— $568 $— 
Notes payable(b)
$20 $— $— $20 $17 $— $— $17 
Long-term debt(c)
$10,865 $— $8,994 $126 $9,696 $— $8,289 $128 
_______________________________________
(a)Included in Current Assets — Other and Other Assets — Other on DTE Electric's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
For further fair value information on financial and derivative instruments, see Note 8 to the Consolidated Financial Statements, "Financial and Other Derivative Instruments."
Nuclear Decommissioning Trust Funds
DTE Electric has a legal obligation to decommission its nuclear power plants following the expiration of its operating licenses. This obligation is reflected as an Asset retirement obligation on DTE Electric's Consolidated Statements of Financial Position. Rates approved by the MPSC provide for the recovery of decommissioning costs of Fermi 2 and the disposal of low-level radioactive waste.
The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:
September 30, 2023December 31, 2022
(In millions)
Fermi 2$1,898 $1,807 
Fermi 13 3 
Low-level radioactive waste12 15 
$1,913 $1,825 
The costs of securities sold are determined on the basis of specific identification. The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Realized gains$5 $19 $24 $65 
Realized losses$(6)$(19)$(32)$(42)
Proceeds from sale of securities$104 $194 $527 $707 
Realized gains and losses from the sale of securities and unrealized gains and losses incurred by the Fermi 2 trust are recorded to Regulatory assets and the Nuclear decommissioning liability. Realized gains and losses from the sale of securities and unrealized gains and losses on the low-level radioactive waste funds are recorded to the Nuclear decommissioning liability.
The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:
September 30, 2023December 31, 2022
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$852 $388 $(19)$839 $342 $(23)
Fixed income securities542 — (53)563 1 (56)
Private equity and other308 76 (7)262 63 (5)
Hedge funds and similar investments172 3 (14)119 — (18)
Cash equivalents39 — — 42 — — 
$1,913 $467 $(93)$1,825 $406 $(102)
The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:
September 30, 2023
(In millions)
Due within one year$7 
Due after one through five years105 
Due after five through ten years86 
Due after ten years253 
$451 
Fixed income securities held in nuclear decommissioning trust funds include $91 million of non-publicly traded commingled funds that do not have a contractual maturity date.
Other Securities
At September 30, 2023 and December 31, 2022, DTE Energy's securities included in Other investments on the Consolidated Statements of Financial Position were comprised primarily of investments within DTE Energy's rabbi trust. The rabbi trust is comprised primarily of trading securities recorded at fair value, as well as debt securities classified as held-to-maturity and recorded at amortized cost. The trust was established to fund certain non-qualified pension benefits, and therefore changes in market value of the trading securities and interest on the held-to-maturity securities are recognized in earnings. Gains and losses are allocated from DTE Energy to DTE Electric and are included in Other Income or Other Expense, respectively, in the Registrants' Consolidated Statements of Operations. Gains (losses) related to the trading securities were immaterial for the three and nine months ended September 30, 2023 and 2022.
v3.23.3
Financial and Other Derivative Instruments
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial and Other Derivative Instruments FINANCIAL AND OTHER DERIVATIVE INSTRUMENTSThe Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the derivative gain or loss is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period.
The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain environmental contracts, forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas and environmental inventory, pipeline transportation contracts, certain environmental contracts, and natural gas storage assets.
DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized.
DTE Gas — DTE Gas purchases, stores, transports, distributes, and sells natural gas, and buys and sells transportation and storage capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2026. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method.
DTE Vantage — This segment manages and operates renewable gas recovery projects, power generation assets, and other customer specific energy solutions. Long-term contracts and hedging instruments are used in the marketing and management of the segment assets. These contracts and hedging instruments are generally not derivatives and are therefore accounted for under the accrual method.
Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. Energy Trading enters into these contracts to mitigate price volatility with respect to fluctuations of the Canadian dollar relative to the U.S. dollar. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Corporate and Other — Interest Rate Risk — DTE Energy may use interest rate swaps, treasury locks, and other derivatives to hedge the risk associated with interest rate market volatility.
Credit Risk — DTE Energy maintains credit policies that significantly minimize overall credit risk. These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees. DTE Energy generally uses standardized agreements that allow the netting of positive and negative transactions associated with a single counterparty. DTE Energy maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends, and other information. Based on DTE Energy's credit policies and its September 30, 2023 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements.
Derivative Activities
DTE Energy manages its MTM risk on a portfolio basis based upon the delivery period of its contracts and the individual components of the risks within each contract. Accordingly, it records and manages the energy purchase and sale obligations under its contracts in separate components based on the commodity (e.g. electricity or natural gas), the product (e.g. electricity for delivery during peak or off-peak hours), the delivery location (e.g. by region), the risk profile (e.g. forward or option), and the delivery period (e.g. by month and year). The following describes the categories of activities represented by their operating characteristics and key risks:
•Asset Optimization — Represents derivative activity associated with assets owned and contracted by DTE Energy, including forward natural gas purchases and sales, natural gas transportation, and storage capacity. Changes in the value of derivatives in this category typically economically offset changes in the value of underlying non-derivative positions, which do not qualify for fair value accounting. The difference in accounting treatment of derivatives in this category and the underlying non-derivative positions can result in significant earnings volatility.
•Marketing and Origination — Represents derivative activity transacted by originating substantially hedged positions with wholesale energy marketers, producers, end-users, utilities, retail aggregators, and alternative energy suppliers.
•Fundamentals Based Trading — Represents derivative activity transacted with the intent of taking a view, capturing market price changes, or putting capital at risk. This activity is speculative in nature as opposed to hedging an existing exposure.
•Other — Includes derivative activity at DTE Electric related to FTRs. Changes in the value of derivative contracts at DTE Electric are recorded as Derivative assets or liabilities, with an offset to Regulatory assets or liabilities as the settlement value of these contracts will be included in the PSCR mechanism when realized.
The following table presents the fair value of derivative instruments for DTE Energy:
September 30, 2023December 31, 2022
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
  Interest rate contracts $22 $— $1 $— 
  Foreign currency exchange contracts— (1)— (2)
Total derivatives designated as hedging instruments$22 $(1)$1 $(2)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$441 $(476)$744 $(1,018)
Electricity333 (318)963 (935)
Environmental & Other171 (175)213 (214)
Foreign currency exchange contracts1 — 1 — 
Total derivatives not designated as hedging instruments$946 $(969)$1,921 $(2,167)
Current$733 $(657)$1,517 $(1,535)
Noncurrent235 (313)405 (634)
Total derivatives$968 $(970)$1,922 $(2,169)
The fair value of derivative instruments at DTE Electric was $10 million and $11 million at September 30, 2023 and December 31, 2022, respectively, comprised of FTRs recorded to Current Assets - Other on the Consolidated Statements of Financial Position and not designated as hedging instruments.
Certain of DTE Energy's derivative positions are subject to netting arrangements which provide for offsetting of asset and liability positions as well as related cash collateral. Such netting arrangements generally do not have restrictions. Under such netting arrangements, DTE Energy offsets the fair value of derivative instruments with cash collateral received or paid for those contracts executed with the same counterparty, which reduces DTE Energy's Total Assets and Liabilities. Cash collateral is allocated between the fair value of derivative instruments and customer accounts receivable and payable with the same counterparty on a pro-rata basis to the extent there is exposure. Any cash collateral remaining, after the exposure is netted to zero, is reflected in Accounts receivable and Accounts payable as collateral paid or received, respectively.
DTE Energy also provides and receives collateral in the form of letters of credit which can be offset against net Derivative assets and liabilities as well as Accounts receivable and payable. DTE Energy had $1 million of letters of credit issued and outstanding at September 30, 2023 and $81 million at December 31, 2022, which could be used to offset net Derivative liabilities. Letters of credit received from third parties which could be used to offset net Derivative assets were $18 million and $82 million at September 30, 2023 and December 31, 2022, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.
For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2023December 31, 2022
(In millions)
Cash collateral netted against Derivative assets$— $(90)
Cash collateral netted against Derivative liabilities12 113 
Cash collateral recorded in Accounts receivable(a)
52 77 
Cash collateral recorded in Accounts payable(a)
(15)(27)
Total net cash collateral posted (received)$49 $73 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2023December 31, 2022
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$441 $(299)$142 $744 $(649)$95 
Electricity333 (198)135 963 (643)320 
Environmental & Other171 (162)9 213 (196)17 
Interest rate contracts 22 — 22 1 — 1 
Foreign currency exchange contracts1 — 1 1 (1)— 
Total derivative assets$968 $(659)$309 $1,922 $(1,489)$433 
Derivative liabilities
Commodity contracts(a)
Natural gas$(476)$301 $(175)$(1,018)$645 $(373)
Electricity(318)208 (110)(935)665 (270)
Environmental & Other(175)162 (13)(214)201 (13)
Foreign currency exchange contracts(1)— (1)(2)1 (1)
Total derivative liabilities$(970)$671 $(299)$(2,169)$1,512 $(657)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position:
September 30, 2023December 31, 2022
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$733 $235 $(657)$(313)$1,517 $405 $(1,535)$(634)
Counterparty netting(505)(154)505 154 (1,127)(272)1,127 272 
Collateral adjustment— — 7 5 (62)(28)66 47 
Total derivatives as reported$228 $81 $(145)$(154)$328 $105 $(342)$(315)
The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows:
Location of Gain (Loss) Recognized in Income on DerivativesGain (Loss) Recognized in Income on Derivatives for the Three Months Ended September 30,Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
2023202220232022
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(41)$(52)$89 $(315)
Natural gasFuel, purchased power, gas, and other — non-utility37 108 120 8 
ElectricityOperating Revenues — Non-utility operations85 61 30 173 
Environmental & OtherOperating Revenues — Non-utility operations(4)(3)(5)15 
Foreign currency exchange contractsOperating Revenues — Non-utility operations1 5 — 5 
Total$78 $119 $234 $(114)
Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, gas, and other — non-utility.
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2023:
CommodityNumber of Units
Natural gas (MMBtu)2,208,451,991 
Electricity (MWh)37,535,900 
Oil (Gallons)4,740,000 
Foreign currency exchange ($ CAD)150,049,286 
FTR (MWh)98,119 
Renewable Energy Certificates (MWh)10,856,311 
Carbon emissions (Metric Tons)1,652,108 
Interest rate contracts ($ USD)500,000,000 
Various subsidiaries of DTE Energy have entered into derivative and non-derivative contracts which contain ratings triggers and are guaranteed by DTE Energy. These contracts contain provisions which allow the counterparties to require that DTE Energy post cash or letters of credit as collateral in the event that DTE Energy’s credit rating is downgraded below investment grade. Certain of these provisions (known as "hard triggers") state specific circumstances under which DTE Energy can be required to post collateral upon the occurrence of a credit downgrade, while other provisions (known as "soft triggers") are not as specific. For contracts with soft triggers, it is difficult to estimate the amount of collateral which may be requested by counterparties and/or which DTE Energy may ultimately be required to post. The amount of such collateral which could be requested fluctuates based on commodity prices (primarily natural gas, power, and environmental) and the provisions and maturities of the underlying transactions. As of September 30, 2023, DTE Energy's contractual obligation to post collateral in the form of cash or letters of credit in the event of a downgrade to below investment grade, under both hard trigger and soft trigger provisions, was $437 million.
As of September 30, 2023, DTE Energy had $761 million of derivatives in net liability positions, for which hard triggers exist. There is $12 million of collateral that has been posted against such liabilities, including cash and letters of credit. Associated derivative net asset positions for which contractual offset exists were $632 million. The net remaining amount of $117 million is derived from the $437 million noted above.
v3.23.3
Long-Term Debt
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
Debt Issuances
Refer to the table below for debt issued through September 30, 2023:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricMarch
Mortgage bonds(a)
5.20%2033$600 
DTE ElectricMarch
Mortgage bonds(a)
5.40%2053600 
DTE EnergyMarch
Term loan facility draw(b)
Variable2023200 
DTE EnergyMay
Senior notes(c)
4.875%2028800 
DTE ElectricJune
Tax-exempt revenue bonds(d)
3.875%2053100 
$2,300 
_______________________________________
(a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.
(b)Proceeds used for general corporate purposes.
(c)Proceeds used for the repayment of amounts outstanding under the term loan facility.
(d)Tax-exempt revenue bonds are issued by a public body that loans the proceeds to DTE Electric with terms substantially mirroring the revenue bonds. Proceeds were used to finance costs relating to solid waste disposal facilities at the Monroe and St. Clair power plants. The bonds will be subject to mandatory tender in June 2030.
In June 2022, DTE Energy entered into a $1.125 billion unsecured term loan with a maturity date of December 2023. Any borrowings on the loan were determined to be long-term debt, as the term of the facility exceeded one year. Through the first quarter 2023, DTE Energy had drawn $1.0 billion on the term loan, bearing interest at SOFR plus 0.90% per annum. These borrowings were repaid in May and June 2023, as noted in the debt redemptions table below. Unused term loan capacity of $125 million terminated in June 2023 per the terms of the credit agreement.
In October 2023, DTE Gas issued $150 million of 5.57% First Mortgage Bonds due October 1, 2030 and $145 million of 5.73% First Mortgage Bonds due October 1, 2035 to a group of institutional investors in a private placement transaction. Proceeds have been used for the repayment of short-term borrowings and for general corporate purposes, including capital expenditures.
In November 2023, DTE Electric issued Securitization bonds of $602 million, including two separate tranches of $301 million. The first tranche was issued with an interest rate of 5.97% and a final maturity date of March 1, 2033. Principal payments will be due semi-annually beginning September 2024, with the final payment scheduled for March 2032. The second tranche was issued with an interest rate of 6.09% and a final maturity date of September 1, 2038. Payments will be due semi-annually beginning March 2032, with the final payment scheduled for September 2037.
The Securitization bonds were issued in alignment with Green Bond principles to support the closure and recovery of St. Clair and Trenton Channel generation plants and DTE Electric's transition to cleaner energy. Proceeds from the bonds were used to reimburse DTE Electric for qualified costs incurred for the net book value of the St. Clair and Trenton Channel plants and other qualified costs. The securitization financing order from the MPSC required that the net proceeds be subsequently applied by DTE Electric to retire existing debt or equity. Accordingly in the fourth quarter 2023, DTE Electric plans to use proceeds of approximately $300 million towards the retirement of debt and approximately $300 million to issue a special dividend to DTE Energy. Refer to Note 5 to the Consolidated Financial Statements, "Regulatory Matters," for additional information.
Debt Redemptions
Refer to the table below for debt redeemed through September 30, 2023:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE GasAprilSenior notes6.44%2023$25 
DTE EnergyMayTerm loan facilityVariable2023800 
DTE ElectricJuneSecuritization bonds2.64%202319 
DTE EnergyJuneTerm loan facilityVariable2023200 
DTE ElectricSeptemberMortgage bonds4.31%2023102 
$1,146 
In October 2023, DTE Electric redeemed at maturity its $100 million 2005 Series C 5.19% Senior Notes.
v3.23.3
Short-Term Credit Arrangements and Borrowings
 9 Months Ended
Sep. 30, 2023
Short-Term Debt [Abstract]  
Short-Term Credit Arrangements and Borrowings SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS
DTE Energy, DTE Electric, and DTE Gas have unsecured revolving credit agreements that can be used for general corporate borrowings, but are intended to provide liquidity support for each of the companies’ commercial paper programs. Borrowings under the revolvers are available at prevailing short-term interest rates. Letters of credit of up to $500 million may also be issued under the DTE Energy revolver. DTE Energy and DTE Electric also have other facilities to support letter of credit issuance and increase liquidity.
The unsecured revolving credit agreements require a total funded debt to capitalization ratio of no more than 0.70 to 1 for DTE Energy and 0.65 to 1 for DTE Electric and DTE Gas. In the agreements, "total funded debt" means all indebtedness of each respective company and their consolidated subsidiaries, including finance lease obligations, hedge agreements, and guarantees of third parties’ debt, but excluding contingent obligations, nonrecourse and junior subordinated debt, and certain equity-linked securities and, except for calculations at the end of the second quarter, certain DTE Gas short-term debt. "Capitalization" means the sum of (a) total funded debt plus (b) "consolidated net worth," which is equal to consolidated total equity of each respective company and their consolidated subsidiaries (excluding pension effects under certain FASB statements), as determined in accordance with accounting principles generally accepted in the United States of America. At September 30, 2023, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.64 to 1, 0.54 to 1, and 0.46 to 1, respectively, and were in compliance with this financial covenant.
During May 2023, DTE Energy paid the amount outstanding and terminated its unsecured Canadian revolving credit facility. In June 2023, DTE Energy entered into a new $100 million uncommitted letter of credit facility, with availability to either DTE Energy or DTE Electric.
In July 2023, DTE Energy entered into an additional $50 million uncommitted letter of credit facility. DTE Energy has also amended the terms of several other letter of credit facilities during 2023, including capacities and maturity dates.
The availability under these facilities as of September 30, 2023 is shown in the following table:
DTE EnergyDTE ElectricDTE GasTotal
(In millions)
Unsecured revolving credit facility, expiring October 2028$1,500 $800 $300 $2,600 
Unsecured letter of credit facility, expiring June 2024175 — — 175 
Unsecured letter of credit facility, expiring February 2025150 — — 150 
Unsecured letter of credit facility(a)
100 — — 100 
Unsecured letter of credit facility(b)
— 100 — 100 
Unsecured letter of credit facility(a)
50 — — 50 
1,975 900 300 3,175 
Amounts outstanding at September 30, 2023
Commercial paper issuances371 656 190 1,217 
Letters of credit144 23 — 167 
515 679 190 1,384 
Net availability at September 30, 2023$1,460 $221 $110 $1,791 
_______________________________________
(a)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration.
(b)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration. DTE Energy may also utilize availability under this facility.
In conjunction with maintaining certain exchange-traded risk management positions, DTE Energy may be required to post collateral with a clearing agent. DTE Energy has a demand financing agreement with its clearing agent, which allows the right of setoff with posted collateral. At September 30, 2023, the capacity under the facility was $200 million. The amounts outstanding under demand financing agreements were $139 million and $166 million at September 30, 2023 and December 31, 2022, respectively, and were fully offset by posted collateral.
v3.23.3
Leases
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases LEASES
Lessor
Interest income recognized under finance leases was $6 million for both the three months ended September 30, 2023 and 2022, and $20 million and $17 million for the nine months ended September 30, 2023 and 2022, respectively.
DTE Energy’s lease income associated with operating leases, included in Operating Revenues — Non-utility operations in the Consolidated Statements of Operations, was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Fixed payments$4 $3 $11 $11 
Variable payments15 21 33 52 
$19 $24 $44 $63 
Leases LEASES
Lessor
Interest income recognized under finance leases was $6 million for both the three months ended September 30, 2023 and 2022, and $20 million and $17 million for the nine months ended September 30, 2023 and 2022, respectively.
DTE Energy’s lease income associated with operating leases, included in Operating Revenues — Non-utility operations in the Consolidated Statements of Operations, was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Fixed payments$4 $3 $11 $11 
Variable payments15 21 33 52 
$19 $24 $44 $63 
v3.23.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Environmental
DTE Electric
Air — DTE Electric is subject to the EPA ozone and fine particulate transport and acid rain regulations that limit power plant emissions of SO2 and NOX. The EPA and the State of Michigan have also issued emission reduction regulations relating to ozone, fine particulate, regional haze, mercury, and other air pollution. These rules have led to controls on fossil-fueled power plants to reduce SO2, NOX, mercury, and other emissions. Additional rule making may occur over the next few years which could require additional controls for SO2, NOX, and other hazardous air pollutants.
In 2015, the EPA finalized National Ambient Air Quality Standards ("NAAQS") for ground level ozone. In August 2018, the EPA designated southeast Michigan as "marginal non-attainment" with the 2015 ozone NAAQS. In January 2022, after collecting several years of data, the State submitted a request to the EPA for redesignation of the southeast Michigan ozone non-attainment area to attainment, and to accept their maintenance plan and emission inventories as a revision to the Michigan State Implementation Plan (SIP). On May 19, 2023, the EPA posted in the Federal Register the redesignation of attainment of the ozone standard for the seven-county Southeast Michigan region. DTE Electric does not expect a significant financial impact related to the ozone NAAQS at this time, pending finalization of the state rules and implementation plans.
In May 2023, the EPA proposed new rules to address emissions of GHGs from existing, new, modified, or reconstructed sources in the power sector. DTE Electric provided individual comments on the proposal and also worked with industry partners on a broader set of comments. The financial impact cannot be estimated until a final rule is issued, which is currently expected in early 2024.
Pending or future legislation or other regulatory actions could have a material impact on DTE Electric's operations and financial position and the rates charged to its customers. Potential impacts include expenditures for environmental equipment beyond what is currently planned, financing costs related to additional capital expenditures, the purchase of emission credits from market sources, higher costs of purchased power, and the retirement of facilities where control equipment is not economical. DTE Electric would seek to recover these incremental costs through increased rates charged to its utility customers, as authorized by the MPSC.
To comply with air pollution requirements, DTE Electric has spent approximately $2.4 billion. DTE Electric does not anticipate additional capital expenditures for air pollution requirements, subject to the results of future rulemakings.
Water — In response to EPA regulations and in accordance with the Clean Water Act section 316(b), DTE Electric was required to examine alternatives for reducing the environmental impacts of the cooling water intake structures at several of its facilities. A final rule became effective in October 2014, which required studies to be completed and submitted as part of the NPDES permit application process to determine the type of technology needed to reduce impacts to fish. DTE Electric has completed the required studies and submitted reports for most of its generation plants, and a final study is in-process for Monroe power plant. Final compliance for the installation of any required technology to reduce the impacts of water intake structures will be determined by the state on a case by case, site specific basis. DTE Electric is currently evaluating the compliance options and working with the State of Michigan on determining whether any controls are needed. These evaluations/studies may require modifications to some existing intake structures. It is not possible to quantify the impact of this rule making at this time.
As part of the Monroe power plant NPDES permit, EGLE has added requirements to evaluate the thermal discharge of the facility as it relates to Clean Water Act section 316(a) regulations. DTE Electric will submit to EGLE a biological demonstration study plan to evaluate the thermal discharge impacts to an aquatic community. After approval of the plan by EGLE and completion of field sampling, data will be processed and compiled into a comprehensive report. At the present time, DTE Electric cannot predict the outcome of this evaluation or financial impact.
Contaminated and Other Sites — Prior to the construction of major interstate natural gas pipelines, gas for heating and other uses was manufactured locally from processes involving coal, coke, or oil. The facilities, which produced gas, have been designated as MGP sites. DTE Electric conducted remedial investigations at contaminated sites, including three former MGP sites. Cleanup of one of the MGP sites is complete, and that site is closed. The investigations have revealed contamination related to the by-products of gas manufacturing at each MGP site. In addition to the MGP sites, DTE Electric is also in the process of cleaning up other contaminated sites, including the area surrounding an ash landfill, electrical distribution substations, electric generating power plants, and underground and above ground storage tank locations. The findings of these investigations indicated that the estimated cost to remediate these sites is expected to be incurred over the next several years. At September 30, 2023 and December 31, 2022, DTE Electric had $9 million and $10 million, respectively, accrued for remediation. These costs are not discounted to their present value. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Electric’s financial position and cash flows. DTE Electric believes the likelihood of a material change to the accrued amount is remote based on current knowledge of the conditions at each site.
Coal Combustion Residuals and Effluent Limitations Guidelines — A final EPA rule for the disposal of coal combustion residuals, commonly known as coal ash, became effective in October 2015 and has continued to be updated in subsequent years. The rule is based on the continued listing of coal ash as a non-hazardous waste and relies on various self-implementation design and performance standards. DTE Electric owns and operates three permitted engineered coal ash storage facilities to dispose of coal ash from coal-fired power plants and operates a number of smaller impoundments at its power plants subject to certain provisions in the CCR rule. At certain facilities, the rule currently requires ongoing sampling and testing of monitoring wells, compliance with groundwater standards, and the closure of basins at the end of the useful life of the associated power plant.
On August 28, 2020, Part A of the CCR rule was published in the Federal Register and required all unlined impoundments to initiate closure as soon as technically feasible, but no later than April 11, 2021. Additionally, the rule amends certain reporting requirements and CCR website requirements. On November 12, 2020, Part B of the CCR Rule was published in the Federal Register and provides a process to determine if certain unlined impoundments with an alternative liner system may be sufficiently protective and therefore may continue to operate.
DTE Electric submitted applications to the EPA that support continued use of all impoundments through their active lives. The forced closure date of April 11, 2021 was effectively delayed, pending the EPA completing review of the applications. On September 1, 2022, DTE Electric ceased receipt of CCR and non-CCR waste streams at the St. Clair power plant bottom ash basins and initiated closure. Therefore, DTE Electric withdrew the Part A rule demonstration for St. Clair, as it was no longer necessary for the EPA to issue an extension of the April 11, 2021 deadline to cease receipt of waste.
On January 25, 2023, DTE Electric received notice of the EPA's proposed denial of Part B applications. DTE Electric provided comments on April 10, 2023, in response to the proposed decision. DTE Electric has since implemented projects at the Belle River power plant to cease receipt of waste within any unlined CCR surface impoundments. Therefore, on September 21, 2023, DTE Electric withdrew the Part B applications for the Belle River power plant, leaving only the part B application for the Monroe power plant fly ash basin pending final review of the EPA. If the EPA's final decision remains unchanged, DTE Electric does not expect the denied application to have a significant operational or financial impact; however, DTE Electric is continuing to review and analyze potential outcomes of this matter.
On May 18, 2023, the EPA posted in the Federal Register a proposed rule to regulate legacy CCR surface impoundments and CCR management units. The rule proposes to expand the reach of the CCR rule to inactive electric generation sites and previously unregulated locations of CCR at a regulated facility. DTE Electric is currently evaluating the proposed rule. The financial impact of the proposed rule cannot be estimated until a final rule is issued, which is currently expected in mid-2024.
At the State level, legislation was signed in December 2018 and provides for further regulation of the CCR program in Michigan. Additionally, the statutory revision provides the basis of a CCR program that EGLE has submitted to the EPA for approval to fully regulate the CCR program in Michigan in lieu of a Federal permit program. The EPA is currently working with EGLE in reviewing the submitted State program, and DTE Electric will work with EGLE to implement the State program that may be approved in the future.
On October 13, 2020, the EPA finalized the ELG Reconsideration Rule which revised the regulations from the 2015 ELG rule for FGD wastewater and bottom ash transport water only. The Reconsideration Rule re-established the technology-based effluent limitations guidelines and standards applicable to FGD wastewater and bottom ash transport water. The EPA set the applicability dates for bottom ash transport water "as soon as possible" beginning October 13, 2021 and no later than December 31, 2025. FGD wastewater retrofits must be completed "as soon as possible" beginning October 13, 2021 and no later than December 31, 2025 or December 31, 2028 if a permittee decides to pursue the Voluntary Incentives Program (VIP) subcategory for FGD wastewater. If a facility applies for the VIP, they must meet more stringent standards, but are allowed an extended time period to meet the compliance requirements.
The Reconsideration Rule also provides additional compliance opportunities by finalizing low utilization and cessation of coal burning subcategories. The Reconsideration Rule provides new opportunities for DTE Electric to evaluate existing ELG compliance strategies and make any necessary adjustments to ensure full compliance with the ELGs in a cost-effective manner.
Compliance schedules for individual facilities and individual waste streams are determined through issuance of new NPDES permits by the State of Michigan. The State of Michigan has issued an NPDES permit for the Belle River power plant establishing compliance deadlines based on the 2020 Reconsideration Rule. On October 11, 2021, in consideration of the deadlines above, DTE Electric submitted a Notice of Planned Participation ("NOPP") to the State of Michigan that formally announced the intent to pursue compliance subcategories as ELG compliance options: the cessation of coal at the Belle River power plant no later than December 31, 2028 and the VIP for FGD wastewater at Monroe power plant by December 31, 2028.
On March 29, 2023, the EPA published two draft proposals to revise existing ELG rules. The first draft proposal reopened the cessation of coal compliance subcategory from the 2020 ELG rule and allow for compliance by committing to such cessation no later than December 31, 2028. This proposal was finalized by the EPA on May 30, 2023. The second draft proposal is a broader update to the ELG rules that includes revised compliance standards for FGD wastewater, bottom ash transport water, and other wastewater streams with a compliance date no later than December 31, 2029. DTE Electric's compliance strategy includes the conversion of the two generating units at the Belle River power plant to a natural gas peaking resource in 2025-2026, which was included in the NOPP filed in 2021. DTE Electric also submitted a new NOPP to apply for the cessation of coal compliance subcategory for generating units 3 and 4 at the Monroe power plant. DTE Electric plans to retire Monroe's generating units 1 and 2 in 2032.
DTE Electric continues to evaluate compliance strategies, technologies and system designs to achieve compliance with the EPA rules at the Monroe power plant.
DTE Electric currently estimates the impact of the CCR and ELG rules to be $481 million of capital expenditures, including $343 million for 2023 through 2027. This estimate may change in future periods as DTE Electric continues to evaluate the proposed EPA rule from May 18, 2023 to regulate legacy CCR surface impoundments and CCR management units, as noted above.
DTE Gas
Contaminated and Other Sites — DTE Gas owns or previously owned 14 former MGP sites. Investigations have revealed contamination related to the by-products of gas manufacturing at each site. Cleanup of eight MGP sites is complete and those sites are closed. DTE Gas has also completed partial closure of four additional sites. Cleanup activities associated with the remaining sites will continue over the next several years. The MPSC has established a cost deferral and rate recovery mechanism for investigation and remediation costs incurred at former MGP sites. In addition to the MGP sites, DTE Gas is also in the process of cleaning up other contaminated sites, including gate stations, gas pipeline releases, and underground storage tank locations. As of September 30, 2023 and December 31, 2022, DTE Gas had $20 million and $23 million, respectively, accrued for remediation. These costs are not discounted to their present value. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Gas' financial position and cash flows. DTE Gas anticipates the cost amortization methodology approved by the MPSC, which allows for amortization of the MGP costs over a ten-year period beginning with the year subsequent to the year the MGP costs were incurred, will prevent the associated investigation and remediation costs from having a material adverse impact on DTE Gas' results of operations.
Air — The EPA recently finalized its Good Neighbor Rule, which includes provisions for compressor engines operated for the transportation of natural gas. DTE Gas is assessing the applicability of the rule on its engines and what impacts that could have on operations. DTE Gas has not determined whether there will be a financial impact at this time.
Non-utility
DTE Energy's non-utility businesses are subject to a number of environmental laws and regulations dealing with the protection of the environment from various pollutants.
In March 2019, the EPA issued an FOV to EES Coke Battery, LLC ("EES Coke"), the Michigan coke battery facility that is a wholly-owned subsidiary of DTE Energy, alleging that the 2008 and 2014 permits issued by EGLE did not comply with the Clean Air Act. In September 2020, the EPA issued another FOV alleging EES Coke's 2018 and 2019 SO2 emissions exceeded projections and hence violated non-attainment new source review permitting requirements. EES Coke evaluated the EPA's alleged violations and believes that the permits approved by EGLE complied with the Clean Air Act. EES Coke responded to the EPA's September 2020 allegations demonstrating its actual emissions are compliant with non-attainment new source review requirements. On June 1, 2022, the U.S. Department of Justice, on behalf of the EPA, filed a complaint against EES Coke in the U.S. District Court for the Eastern District of Michigan alleging that EES Coke failed to comply with non-attainment new source review requirements under the Clean Air Act when it applied for the 2014 permit. In November 2022, the Sierra Club and City of River Rouge were granted intervention. At the present time, DTE Energy cannot predict the outcome or financial impact of this matter.
Separately, in December 2021, EGLE issued a Notice of Violation to EES Coke alleging excess visible emissions from pushing operations. In January 2022, EES Coke provided EGLE a response describing the corrective actions taken to prevent future recurrences. At the present time, EES Coke cannot predict the outcome or financial impact of this matter.
Other
In 2010, the EPA finalized a new one-hour SO2 ambient air quality standard that requires states to submit plans and associated timelines for non-attainment areas that demonstrate attainment with the new SO2 standard in phases. Phase 1 addresses non-attainment areas designated based on ambient monitoring data. Phase 2 addresses non-attainment areas with large sources of SO2 and modeled concentrations exceeding the National Ambient Air Quality Standards for SO2. Phase 3 addresses smaller sources of SO2 with modeled or monitored exceedances of the new SO2 standard.
Michigan's Phase 1 non-attainment area included DTE Energy facilities. However, the EPA published a Federal Implementation Plan (FIP) for the area in June 2022 that did not impact any DTE Energy facilities. It is also not expected that Phase 3 will have any impact on DTE Energy.
Michigan's Phase 2 non-attainment area includes DTE Electric facilities in St. Clair County. The EPA approved a clean data determination request submitted by EGLE. This determination suspends certain planning requirements and sanctions for the non-attainment area for as long as the area continues to attain the 2010 SO2 air quality standards, but this does not automatically redesignate the area to attainment. Until the area is officially redesignated as attainment, DTE Energy is unable to determine the impacts.
REF Guarantees
DTE Energy provided certain guarantees and indemnities in conjunction with the sales of interests in or lease of its previously operated REF facilities. The guarantees cover potential commercial, environmental, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations. DTE Energy estimates that its maximum potential liability under these guarantees at September 30, 2023 was $414 million. Payments under these guarantees are considered remote.
Other Guarantees
In certain limited circumstances, the Registrants enter into contractual guarantees. The Registrants may guarantee another entity’s obligation in the event it fails to perform and may provide guarantees in certain indemnification agreements. The Registrants may also provide indirect guarantees for the indebtedness of others. DTE Energy’s guarantees are not individually material with maximum potential payments totaling $40 million at September 30, 2023. Payments under these guarantees are considered remote.
The Registrants are periodically required to obtain performance surety bonds in support of obligations to various governmental entities and other companies in connection with its operations. As of September 30, 2023, DTE Energy had $325 million of performance bonds outstanding, including $151 million for DTE Electric. Performance bonds are not individually material, except for $130 million of bonds supporting Energy Trading operations. These bonds are meant to provide counterparties with additional assurance that Energy Trading will meet its contractual obligations for various commercial transactions. The terms of the bonds align with those of the underlying Energy Trading contracts and are estimated to be outstanding approximately 1 to 3 years. In the event that any performance bonds are called for nonperformance, the Registrants would be obligated to reimburse the issuer of the performance bond. The Registrants are released from the performance bonds as the contractual performance is completed and does not believe that a material amount of any currently outstanding performance bonds will be called.
Labor Contracts
There are several bargaining units for DTE Energy subsidiaries' approximately 4,950 represented employees, including DTE Electric's approximately 2,550 represented employees. This represents 49% and 57% of DTE Energy's and DTE Electric's total employees, respectively. Of these represented employees, less than 1% have contracts expiring within one year for DTE Energy. None of the represented employees have contracts expiring within one year for DTE Electric.
Purchase Commitments
Utility capital expenditures and expenditures for non-utility businesses will be approximately $4.2 billion and $3.2 billion in 2023 for DTE Energy and DTE Electric, respectively. The Registrants have made certain commitments in connection with the estimated 2023 annual capital expenditures.
Ludington Plant Contract Dispute
DTE Electric and Consumers Energy Company ("Consumers"), joint owners of the Ludington Hydroelectric Pumped Storage plant ("Ludington"), are parties to a 2010 engineering, procurement, and construction agreement with Toshiba America Energy Systems ("TAES"), under which TAES contracted to perform a major overhaul and upgrade of Ludington. The overhauled Ludington units are operational, but TAES' work has been defective and non-conforming. DTE Electric and Consumers have demanded that TAES provide a comprehensive plan to resolve quality control concerns, including adherence to its warranty commitments and other contractual obligations. DTE Electric and Consumers have taken extensive efforts to resolve these issues with TAES, including a formal demand to TAES' parent, Toshiba Corporation, under a parent guaranty it provided in the contract. TAES has not provided a comprehensive plan or otherwise met its performance obligations. In order to enforce the contract, DTE Electric and Consumers filed a complaint against TAES and Toshiba Corporation in the U.S. District Court for the Eastern District of Michigan in April 2022.
In June 2022, TAES and Toshiba Corporation filed a motion to dismiss the complaint, along with counterclaims seeking approximately $15 million in damages related to payments allegedly owed under the parties' contract. During September 2022, the motion to dismiss the complaint was denied. DTE Electric believes the outstanding counterclaims are without merit, but would be liable for 49% of the damages if approved. In October 2022, the combined parties submitted a joint discovery plan to proceed with the litigation process and a potential trial during the second half of 2024. DTE Electric cannot predict the financial impact or outcome of this matter.
Refer to the Ludington Accounting Application section within Note 5 to the Consolidated Financial Statements, "Regulatory Matters," for additional information regarding costs to address TAES defective work and regulatory accounting treatment.
Other Contingencies
The Registrants are involved in certain other legal, regulatory, administrative, and environmental proceedings before various courts, arbitration panels, and governmental agencies concerning claims arising in the ordinary course of business. These proceedings include certain contract disputes, additional environmental reviews and investigations, audits, inquiries from various regulators, and pending judicial matters. The Registrants cannot predict the final disposition of such proceedings. The Registrants regularly review legal matters and record provisions for claims that they can estimate and are considered probable of loss. The resolution of these pending proceedings is not expected to have a material effect on the Registrants' Consolidated Financial Statements in the periods they are resolved.
For a discussion of contingencies related to regulatory matters and derivatives, see Notes 5 and 8 to the Consolidated Financial Statements, "Regulatory Matters" and "Financial and Other Derivative Instruments," respectively.
v3.23.3
Retirement Benefits and Trusteed Assets
 9 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Retirement Benefits and Trusteed Assets RETIREMENT BENEFITS AND TRUSTEED ASSETS
DTE Energy's subsidiary, DTE Energy Corporate Services, LLC, sponsors defined benefit pension plans and other postretirement benefit plans covering certain employees of the Registrants. Participants of all plans are solely DTE Energy and affiliate participants.
The following tables detail the components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits for DTE Energy:
Pension BenefitsOther Postretirement Benefits
2023202220232022
(In millions)
Three Months Ended September 30,
Service cost$15 $25 $4 $6 
Interest cost54 41 17 12 
Expected return on plan assets(89)(87)(28)(32)
Amortization of:
Net actuarial loss2 29 2 1 
Prior service credit(1)— (4)(4)
Net periodic benefit cost (credit)$(19)$8 $(9)$(17)
Pension BenefitsOther Postretirement Benefits
2023202220232022
(In millions)
Nine Months Ended September 30,
Service cost$43 $72 $13 $20 
Interest cost161 124 49 36 
Expected return on plan assets(264)(260)(83)(95)
Amortization of:
Net actuarial loss5 86 7 3 
Prior service credit(2)— (14)(14)
Settlements7 — — — 
Net periodic benefit cost (credit)$(50)$22 $(28)$(50)
DTE Electric accounts for its participation in DTE Energy's qualified and non-qualified pension plans by applying multiemployer accounting. DTE Electric accounts for its participation in other postretirement benefit plans by applying multiple-employer accounting. Within multiemployer and multiple-employer plans, participants pool plan assets for investment purposes and to reduce the cost of plan administration. The primary difference between plan types is that assets contributed in multiemployer plans can be used to provide benefits for all participating employers, while assets contributed within a multiple-employer plan are restricted for use by the contributing employer.
As a result of multiemployer accounting treatment, capitalized costs associated with these plans are reflected in Property, plant, and equipment in DTE Electric's Consolidated Statements of Financial Position. The same capitalized costs are reflected as Regulatory assets and liabilities in DTE Energy's Consolidated Statements of Financial Position. For service costs recognized in earnings, these costs have historically been presented in Operation and maintenance in the Registrants' Consolidated Statements of Operations. For non-service costs recognized in earnings, these costs have historically been presented in Other (Income) and Deductions — Non-operating retirement benefits, net in DTE Energy's Consolidated Statements of Operations and Operation and maintenance in DTE Electric's Consolidated Statements of Operations.
In November 2022, DTE Electric received a rate order from the MPSC approving the deferral of qualified pension plan service and non-service costs that were previously being recognized in earnings. Therefore, the Registrants are recording these costs as Regulatory assets beginning in December 2022.
DTE Energy's subsidiaries are responsible for their share of qualified and non-qualified pension benefit costs. DTE Electric's allocated portion of pension benefit costs included in regulatory assets, operation and maintenance expense, other income and deductions, and capital expenditures was a credit of $12 million and $28 million for the three and nine months ended September 30, 2023, respectively, and a cost of $9 million and $27 million for the three and nine months ended September 30, 2022, respectively. These amounts may include recognized contractual termination benefit charges, curtailment gains, and settlement charges.
The following table details the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Service cost$3 $5 $10 $15 
Interest cost12 10 37 28 
Expected return on plan assets(18)(22)(55)(64)
Amortization of:
Net actuarial loss— 2 — 4 
Prior service credit(3)(4)(10)(10)
Net periodic benefit credit$(6)$(9)$(18)$(27)
Pension and Other Postretirement Contributions
No contributions are currently expected for DTE Energy's qualified pension plans or postretirement benefit plans in 2023. Plans may be updated at the discretion of management and depending on economic and financial market conditions. DTE Energy anticipates a transfer of up to $50 million of qualified pension plan funds from DTE Gas to DTE Electric during the fourth quarter 2023 in exchange for cash consideration.
v3.23.3
Segment and Related Information
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment and Related Information SEGMENT AND RELATED INFORMATION
DTE Energy sets strategic goals, allocates resources, and evaluates performance based on the following structure:
Electric segment consists principally of DTE Electric, which is engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan.
Gas segment consists principally of DTE Gas, which is engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million residential, commercial, and industrial customers throughout Michigan and the sale of storage and transportation capacity.
DTE Vantage is comprised primarily of renewable energy projects that sell electricity and pipeline-quality gas and projects that deliver custom energy solutions to industrial, commercial, and institutional customers.
Energy Trading consists of energy marketing and trading operations.
Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds certain investments, including funds supporting regional development and economic growth.
Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider. Such billing primarily consists of power sales, sale and transportation of natural gas, and renewable natural gas sales in the segments below, as well as charges from Electric to other segments for use of the shared capital assets of DTE Electric.
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Electric$20 $19 $55 $53 
Gas4 4 13 10 
DTE Vantage13 15 32 57 
Energy Trading20 39 65 78 
Corporate and Other— — — — 
$57 $77 $165 $198 
All inter-segment transactions and balances are eliminated in consolidation for DTE Energy. Centrally incurred costs such as labor and overheads are assigned directly to DTE Energy's business segments or allocated based on various cost drivers, depending on the nature of service provided.
The federal income tax provisions or benefits of DTE Energy’s subsidiaries are determined on an individual company basis and recognize the tax benefit of tax credits and net operating losses, if applicable. The state and local income tax provisions of the utility subsidiaries are also determined on an individual company basis and recognize the tax benefit of various tax credits and net operating losses, if applicable. The subsidiaries record federal, state, and local income taxes payable to or receivable from DTE Energy based on the federal, state, and local tax provisions of each company.
Financial data of DTE Energy's business segments follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Operating Revenues — Utility operations
Electric$1,623 $1,844 $4,324 $4,896 
Gas227 230 1,245 1,358 
Operating Revenues — Non-utility operations
Electric3 3 10 11 
DTE Vantage199 227 572 626 
Energy Trading893 3,024 3,365 8,059 
Corporate and Other— — — — 
Reconciliation and Eliminations(57)(77)(165)(198)
Total$2,888 $5,251 $9,351 $14,752 
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment
Electric$268 $363 $547 $750 
Gas(5)(23)190 179 
DTE Vantage56 26 109 68 
Energy Trading65 56 234 (80)
Corporate and Other(52)(35)(102)(99)
Net Income Attributable to DTE Energy Company$332 $387 $978 $818 
v3.23.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Pay vs Performance Disclosure        
Net Income Attributable to DTE Energy Company $ 332 $ 387 $ 978 $ 818
v3.23.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.23.3
Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The Consolidated Financial Statements should be read in conjunction with the Combined Notes to Consolidated Financial Statements included in the combined DTE Energy and DTE Electric 2022 Annual Report on Form 10-K.
The accompanying Consolidated Financial Statements of the Registrants are prepared using accounting principles generally accepted in the United States of America. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from the Registrants' estimates.
The Consolidated Financial Statements are unaudited but, in the Registrants' opinions, include all adjustments necessary to present a fair statement of the results for the interim periods. All adjustments are of a normal recurring nature, except as otherwise disclosed in these Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2023.
The information in these combined notes relates to each of the Registrants as noted in the Index of Combined Notes to Consolidated Financial Statements. However, DTE Electric does not make any representation as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.
Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation.
Principles of Consolidation
Principles of Consolidation
The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the equity investment is valued at cost minus any impairments, if applicable. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions.
The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.
Legal entities within the DTE Vantage segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are generally accounted for under the equity method.
The Registrants hold ownership interests in certain limited partnerships. The limited partnerships include investment funds which support regional development and economic growth, and an operational business providing energy-related products. These entities are generally VIEs as a result of certain characteristics of the limited partnership voting rights. The ownership interests are accounted for under the equity method as the Registrants are not the primary beneficiaries.
DTE Energy has variable interests in VIEs through certain of its long-term purchase and sale contracts. DTE Electric has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2023, the carrying amount of assets and liabilities in DTE Energy's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts are predominantly related to working capital accounts and generally represent the amounts owed by or to DTE Energy for the deliveries associated with the current billing cycle under the contracts. As of September 30, 2023, the carrying amount of assets and liabilities in DTE Electric's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominantly related to working capital accounts and generally represent the amounts owed by DTE Electric for the deliveries associated with the current billing cycle under the contracts. The Registrants have not provided any significant form of financial support associated with these long-term contracts. There is no material potential exposure to loss as a result of DTE Energy's variable interests through these long-term purchase and sale contracts. In addition, there is no material potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts.
During 2022, DTE Electric financed regulatory assets for previously deferred costs related to the River Rouge generation plant and tree trimming surge program through the sale of bonds by a wholly-owned special purpose entity, DTE Securitization. DTE Securitization is a VIE. DTE Electric has the power to direct the most significant activities of DTE Securitization, including performing servicing activities such as billing and collecting surcharge revenue. Accordingly, DTE Electric is the primary beneficiary and DTE Securitization is consolidated by the Registrants. Securitization bond holders have no recourse to the Registrants' assets, except for those held by DTE Securitization. Surcharges collected by DTE Electric to pay for bond servicing and other qualified costs reflect securitization property solely owned by DTE Securitization. These surcharges are remitted to a trustee and are not available to other creditors of the Registrants.
The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, and future funding commitments.
Changes in Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss)
Comprehensive income (loss) is the change in common shareholders' equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for DTE Energy include changes in benefit obligations, consisting of deferred actuarial losses and prior service costs, unrealized gains and losses from derivatives accounted for as cash flow hedges, and foreign currency translation adjustments, if any. DTE Energy releases income tax effects from accumulated other comprehensive income when the circumstances upon which they are premised cease to exist.
Changes in Accumulated other comprehensive income (loss) are presented in DTE Energy's Consolidated Statements of Changes in Equity and DTE Electric's Consolidated Statements of Changes in Shareholder's Equity, if any.
Cash, Cash Equivalents, and Restricted Cash
Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash includes funds held in separate bank accounts and principally consists of amounts at DTE Securitization to pay for debt service and other qualified costs. Restricted cash designated for payments within one year is classified as a Current Asset.
Financing Receivables
Financing Receivables
Financing receivables are primarily composed of trade receivables, notes receivable, and unbilled revenue. The Registrants' financing receivables are stated at net realizable value.
The Registrants monitor the credit quality of their financing receivables on a regular basis by reviewing credit quality indicators and monitoring for trigger events, such as a credit rating downgrade or bankruptcy. Credit quality indicators include, but are not limited to, ratings by credit agencies where available, collection history, collateral, counterparty financial statements and other internal metrics. Utilizing such data, the Registrants have determined three internal grades of credit quality. Internal grade 1 includes financing receivables for counterparties where credit rating agencies have ranked the counterparty as investment grade. To the extent credit ratings are not available, the Registrants utilize other credit quality indicators to determine the level of risk associated with the financing receivable. Internal grade 1 may include financing receivables for counterparties for which credit rating agencies have ranked the counterparty as below investment grade; however, due to favorable information on other credit quality indicators, the Registrants have determined the risk level to be similar to that of an investment grade counterparty. Internal grade 2 includes financing receivables for counterparties with limited credit information and those with a higher risk profile based upon credit quality indicators. Internal grade 3 reflects financing receivables for which the counterparties have the greatest level of risk, including those in bankruptcy status.
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk, including current year-to-date gross write-offs, if any. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2023.
DTE EnergyDTE Electric
Year of Origination
202320222021 and PriorTotal2023 and Prior
(In millions)
Notes receivable
Internal grade 1$14 $— $6 $20 $16 
Internal grade 219 85 17 121 — 
Total notes receivable(a)
$33 $85 $23 $141 $16 
Net investment in leases
Internal grade 1$— $— $37 $37 $— 
Internal grade 2— 65 185 250 — 
Total net investment in leases(a)
$— $65 $222 $287 $— 
_______________________________________
(a)For DTE Energy and DTE Electric, the current portion is included in Current Assets — Other on the respective Consolidated Statements of Financial Position. For DTE Electric, the noncurrent portion is included in Other Assets — Other.
The allowance for doubtful accounts on accounts receivable for the utility entities is generally calculated using an aging approach that utilizes rates developed in reserve studies. DTE Electric and DTE Gas establish an allowance for uncollectible accounts based on historical losses and management's assessment of existing and future economic conditions, customer trends and other factors. Customer accounts are generally considered delinquent if the amount billed is not received by the due date, which is typically in 21 days, however, factors such as assistance programs may delay aggressive action. DTE Electric and DTE Gas generally assess late payment fees on trade receivables based on past-due terms with customers. Customer accounts are written off when collection efforts have been exhausted. The time period for write-off is 150 days after service has been terminated.
The customer allowance for doubtful accounts for non-utility businesses and other receivables for both utility and non-utility businesses is generally calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. Existing and future economic conditions, customer trends and other factors are also considered. Receivables are written off on a specific identification basis and determined based upon the specific circumstances of the associated receivable.
Notes receivable for DTE Energy are primarily comprised of finance lease receivables and loans that are included in Notes Receivable and Other current assets on DTE Energy's Consolidated Statements of Financial Position. Notes receivable for DTE Electric are primarily comprised of loans.
The Registrants establish an allowance for credit loss for principal and interest amounts due that are estimated to be uncollectible in accordance with the contractual terms of the note receivable. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty's ability to pay including existing and future economic conditions. Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. If amounts are no longer probable of collection, the Registrants may consider the note receivable impaired, adjust the allowance, and cease accruing interest (nonaccrual status).
Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to the contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current.
Recently Adopted Pronouncements
Recently Adopted Pronouncements
In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the Current Expected Credit Loss (“CECL”) model under ASC 326 and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. Additionally, the amendments require the disclosure of current period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The Registrants adopted the ASU effective January 1, 2023 using the prospective approach, with no impact on the Registrants' financial position or results of operations. Gross write-offs, if any, will be disclosed in the Financing Receivables section of Note 2 to the Consolidated Financial Statements, "Significant Accounting Policies."
Fair Value Measurement
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Registrants make certain assumptions they believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. Credit risk of the Registrants and their counterparties is incorporated in the valuation of assets and liabilities through the use of credit reserves, the impact of which was immaterial at September 30, 2023 and December 31, 2022. The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs.
A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows:
•Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date.
•Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.
•Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints.
Nuclear Decommissioning Trusts and Other Investments
Nuclear Decommissioning Trusts and Other Investments
The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly, as well as publicly-traded commingled funds, are valued using quoted market prices in actively traded markets. Non-exchange traded fixed income securities are valued based upon quotations available from brokers or pricing services.
Non-publicly traded commingled funds holding exchange-traded equity or debt securities are valued based on stated NAVs. There are no significant restrictions for these funds and investments may be redeemed with 7 to 65 days notice depending on the fund. There is no intention to sell the investment in these commingled funds.
Private equity and other assets include a diversified group of funds that are classified as NAV assets. These funds primarily invest in limited partnerships, including private equity, private real estate and private credit. Distributions are received through the liquidation of the underlying fund assets over the life of the funds. There are generally no redemption rights. The limited partner must hold the fund for its life or find a third-party buyer, which may need to be approved by the general partner. The funds are established with varied contractual durations generally in the range of 7 years to 12 years. The fund life can often be extended by several years by the general partner, and further extended with the approval of the limited partners. Unfunded commitments related to these investments totaled $158 million and $177 million as of September 30, 2023 and December 31, 2022, respectively.
Hedge funds and similar investments utilize a diversified group of strategies that attempt to capture uncorrelated sources of return. These investments include publicly traded mutual funds that are valued using quoted prices in actively traded markets, as well as insurance-linked and asset-backed securities that are valued using quotations from broker or pricing services.
For pricing the nuclear decommissioning trusts and other investments, a primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary source of a given security if the trustee determines that another price source is considered preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.
Derivative Assets and Liabilities
Derivative Assets and Liabilities
Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy.
Fair Value Transfer Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period.
Derivatives The Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the derivative gain or loss is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period.
The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain environmental contracts, forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas and environmental inventory, pipeline transportation contracts, certain environmental contracts, and natural gas storage assets.
DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized.
DTE Gas — DTE Gas purchases, stores, transports, distributes, and sells natural gas, and buys and sells transportation and storage capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2026. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method.
DTE Vantage — This segment manages and operates renewable gas recovery projects, power generation assets, and other customer specific energy solutions. Long-term contracts and hedging instruments are used in the marketing and management of the segment assets. These contracts and hedging instruments are generally not derivatives and are therefore accounted for under the accrual method.
Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. Energy Trading enters into these contracts to mitigate price volatility with respect to fluctuations of the Canadian dollar relative to the U.S. dollar. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.
Corporate and Other — Interest Rate Risk — DTE Energy may use interest rate swaps, treasury locks, and other derivatives to hedge the risk associated with interest rate market volatility.
Credit Risk — DTE Energy maintains credit policies that significantly minimize overall credit risk. These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees. DTE Energy generally uses standardized agreements that allow the netting of positive and negative transactions associated with a single counterparty. DTE Energy maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends, and other information. Based on DTE Energy's credit policies and its September 30, 2023 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements.
Derivatives, Offsetting Fair Value Amounts
Certain of DTE Energy's derivative positions are subject to netting arrangements which provide for offsetting of asset and liability positions as well as related cash collateral. Such netting arrangements generally do not have restrictions. Under such netting arrangements, DTE Energy offsets the fair value of derivative instruments with cash collateral received or paid for those contracts executed with the same counterparty, which reduces DTE Energy's Total Assets and Liabilities. Cash collateral is allocated between the fair value of derivative instruments and customer accounts receivable and payable with the same counterparty on a pro-rata basis to the extent there is exposure. Any cash collateral remaining, after the exposure is netted to zero, is reflected in Accounts receivable and Accounts payable as collateral paid or received, respectively.
DTE Energy also provides and receives collateral in the form of letters of credit which can be offset against net Derivative assets and liabilities as well as Accounts receivable and payable. DTE Energy had $1 million of letters of credit issued and outstanding at September 30, 2023 and $81 million at December 31, 2022, which could be used to offset net Derivative liabilities. Letters of credit received from third parties which could be used to offset net Derivative assets were $18 million and $82 million at September 30, 2023 and December 31, 2022, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.
For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.
Derivatives, Methods of Accounting Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, gas, and other — non-utility.
v3.23.3
Organization and Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
The table below summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2023 and December 31, 2022. All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. Assets and liabilities of the VIEs are presented in aggregate due to the similar nature of the entities, except for DTE Electric amounts that reflect DTE Securitization and are separately stated. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below.
During the third quarter 2023, a consolidated VIE of DTE Vantage entered into a contract that restricts certain assets of the VIE to be used only to settle the VIE's obligations. As a result, the assets and liabilities of the VIE, which primarily include receivables and payables recognized in 2023, no longer meet the exclusion criteria above. Accordingly, these assets and liabilities have been added to the DTE Energy amounts in the table below.
Amounts for the Registrants' consolidated VIEs are as follows:
September 30, 2023December 31, 2022
DTE Energy
DTE Electric(a)
DTE Energy
DTE Electric(a)
(In millions)
ASSETS
Cash and cash equivalents$11 $— $14 $— 
Restricted cash28 23 9 9 
Accounts receivable115 2 6 3 
Securitized regulatory assets178 178 206 206 
Notes receivable153 — 81 — 
Other current and long-term assets2 — 8 — 
$487 $203 $324 $218 
LIABILITIES
Accounts payable$57 $— $3 $— 
Short-term borrowings— — 81 — 
Securitization bonds(b)
193 193 211 211 
Other current and long-term liabilities18 10 11 9 
$268 $203 $306 $220 
_______________________________________
(a)DTE Electric amounts reflect DTE Securitization.
(b)Includes $40 million and $39 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the periods ended September 30, 2023 and December 31, 2022, respectively.
Summary of Amounts for Non-Consolidated Variable Interest Entities
Amounts for DTE Energy's non-consolidated VIEs are as follows:
September 30, 2023December 31, 2022
(In millions)
Investments in equity method investees$125 $137 
Notes receivable$15 $15 
Future funding commitments$1 $2 
v3.23.3
Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Schedule of Other Income
The following is a summary of DTE Energy's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Allowance for equity funds used during construction$8 $6 $26 $20 
Contract services5 7 18 21 
Investment income(a)
— — 9 — 
Equity earnings (losses) of equity method investees3 — 7 (15)
Other(3)3 10 9 
$13 $16 $70 $35 
_______________________________________
(a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations.
The following is a summary of DTE Electric's Other income:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Allowance for equity funds used during construction$8 $6 $25 $18 
Contract services6 7 18 21 
Investment income(a)
— — 6 — 
Other2 2 7 7 
$16 $15 $56 $46 
_______________________________________
(a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations.
Schedule of Effective Income Tax Rate Reconciliation The tables below summarize how the Registrants' effective income tax rates have varied from the statutory federal income tax rate:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
DTE Energy
Statutory federal income tax rate21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit4.8 4.4 4.5 4.5 
Production tax credits(7.8)(9.1)(6.4)(9.4)
TCJA amortization(4.9)(13.6)(4.2)(14.8)
Investment tax credits(3.8)— (2.6)(0.1)
Enactment of West Virginia income tax legislation, net of federal benefit— — (0.6)— 
Other(3.0)(1.2)(1.9)(1.2)
Effective income tax rate6.3 %1.5 %9.8 %— %
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
DTE Electric
Statutory federal income tax rate21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit5.7 5.7 5.7 5.7 
Production tax credits(11.1)(9.5)(9.4)(9.2)
TCJA amortization(6.9)(14.6)(5.9)(15.0)
Other(1.9)(0.9)(2.2)(0.9)
Effective income tax rate6.8 %1.7 %9.2 %1.6 %
Schedule of Financing Receivables Classified by Internal Grade of Credit Risk
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk, including current year-to-date gross write-offs, if any. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2023.
DTE EnergyDTE Electric
Year of Origination
202320222021 and PriorTotal2023 and Prior
(In millions)
Notes receivable
Internal grade 1$14 $— $6 $20 $16 
Internal grade 219 85 17 121 — 
Total notes receivable(a)
$33 $85 $23 $141 $16 
Net investment in leases
Internal grade 1$— $— $37 $37 $— 
Internal grade 2— 65 185 250 — 
Total net investment in leases(a)
$— $65 $222 $287 $— 
_______________________________________
(a)For DTE Energy and DTE Electric, the current portion is included in Current Assets — Other on the respective Consolidated Statements of Financial Position. For DTE Electric, the noncurrent portion is included in Other Assets — Other.
Schedule of Roll-Forward of Activity for Financing Receivables Credit Loss Reserves
The following tables present a roll-forward of the activity for the Registrants' financing receivables credit loss reserves:
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2023$78 $1 $79 $49 
Current period provision44 — 44 28 
Write-offs charged against allowance(78)— (78)(51)
Recoveries of amounts previously written off31 — 31 20 
Ending reserve balance, September 30, 2023$75 $1 $76 $46 
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2022$89 $3 $92 $54 
Current period provision49 — 49 33 
Write-offs charged against allowance(105)(2)(107)(66)
Recoveries of amounts previously written off45 — 45 28 
Ending reserve balance, December 31, 2022$78 $1 $79 $49 
Schedule of Uncollectible Expense
Uncollectible expense for the Registrants is primarily comprised of the current period provision for allowance for doubtful accounts and is summarized as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
DTE Energy$10 $12 $45 $46 
DTE Electric$11 $12 $28 $28 
v3.23.3
Revenue (Tables)
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following is a summary of revenues disaggregated by segment for DTE Energy:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Electric(a)
Residential$861 $882 $2,173 $2,273 
Commercial585 541 1,604 1,505 
Industrial190 167 545 498 
Other(b)
(10)257 12 631 
Total Electric operating revenues$1,626 $1,847 $4,334 $4,907 
Gas
Gas sales$119 $128 $936 $955 
End User Transportation44 42 184 195 
Intermediate Transportation16 15 63 60 
Other(b)
48 45 62 148 
Total Gas operating revenues$227 $230 $1,245 $1,358 
Other segment operating revenues
DTE Vantage$199 $227 $572 $626 
Energy Trading$893 $3,024 $3,365 $8,059 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $3 million of Other revenues related to DTE Sustainable Generation for both the three months ended September 30, 2023 and 2022, and $10 million and $11 million for the nine months ended September 30, 2023 and 2022, respectively.
(b)Includes revenue adjustments related to various regulatory mechanisms, including the PSCR at the Electric segment and GCR at the Gas segment. Revenues related to these mechanisms may vary based on changes in the cost of fuel, purchased power, and gas.
Revenues included the following which were outside the scope of Topic 606:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Electric — Other revenues $8 $7 $18 $15 
Gas — Alternative Revenue Programs$— $— $4 $— 
Gas — Other revenues$2 $2 $7 $6 
DTE Vantage — Leases$19 $24 $44 $63 
Energy Trading — Derivatives$670 $2,531 $2,527 $6,691 
Summary of Deferred Revenue Activity
The following is a summary of deferred revenue activity:
DTE Energy
(In millions)
Beginning Balance, January 1, 2023$94 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period113 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(42)
Ending Balance, September 30, 2023$165 
Deferred Revenue Amounts Expected to be Recognized as Revenue in Future Periods
The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:
DTE Energy
(In millions)
2023$95 
202468 
20251 
20261 
2027— 
2028 and thereafter— 
$165 
The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:
DTE EnergyDTE Electric
(In millions)
2023$33 $2 
2024247 8 
2025184 — 
202699 — 
202767 — 
2028 and thereafter375 — 
$1,005 $10 
v3.23.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company$332 $387 $978 $818 
Less: Allocation of earnings to net restricted stock awards— 1 2 2 
Net income available to common shareholders — basic$332 $386 $976 $816 
Average number of common shares outstanding — basic206 193 206 193 
Basic Earnings per Common Share$1.61 $2.00 $4.74 $4.22 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company$332 $387 $978 $818 
Less: Allocation of earnings to net restricted stock awards— 1 2 2 
Net income available to common shareholders — diluted$332 $386 $976 $816 
Average number of common shares outstanding — basic206 193 206 193 
Average performance share awards— 1 — 1 
Average number of common shares outstanding — diluted206 194 206 194 
Diluted Earnings per Common Share(a)
$1.61 $1.99 $4.74 $4.21 
_______________________________________
(a)Equity units excluded from the calculation of diluted EPS were approximately 10.1 million and 10.2 million for the three and nine months ended September 30, 2022, respectively, as the dilutive stock price threshold was not met. The equity units were settled in November 2022 resulting in the issuance of common stock.
v3.23.3
Fair Value (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis:
September 30, 2023December 31, 2022
Level
1		Level
2		Level
3
Other(a)
Netting(b)
Net BalanceLevel
1		Level
2		Level
3
Other(a)
Netting(b)
Net Balance
(In millions)
Assets
Cash equivalents(c)
$27 $— $— $— $— $27 $10 $— $— $— $— $10 
Nuclear decommissioning trusts
Equity securities716 — — 136 — 852 701 — — 138 — 839 
Fixed income securities105 346 — 91 — 542 115 359 — 89 — 563 
Private equity and other— — — 308 — 308 — — — 262 — 262 
Hedge funds and similar investments106 66 — — — 172 78 41 — — — 119 
Cash equivalents39 — — — — 39 42 — — — — 42 
Other investments(d)
Equity securities54 — — — — 54 56 — — — — 56 
Fixed income securities7 — — — — 7 7 — — — — 7 
Cash equivalents35 — — — — 35 72 — — — — 72 
Derivative assets
Commodity contracts(e)
Natural gas140 143 158 — (299)142 426 183 135 — (649)95 
Electricity— 223 110 — (198)135 — 720 243 — (643)320 
Environmental & Other— 154 17 — (162)9 — 201 12 — (196)17 
Other contracts — 23 — — — 23 — 2 — — (1)1 
Total derivative assets140 543 285 — (659)309 426 1,106 390 — (1,489)433 
Total$1,229 $955 $285 $535 $(659)$2,345 $1,507 $1,506 $390 $489 $(1,489)$2,403 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(124)$(166)$(186)$— $301 $(175)$(297)$(331)$(390)$— $645 $(373)
Electricity— (212)(106)— 208 (110)— (659)(276)— 665 (270)
Environmental & Other— (169)(6)— 162 (13)— (213)(1)— 201 (13)
Other contracts— (1)— — — (1)— (2)— — 1 (1)
Total$(124)$(548)$(298)$— $671 $(299)$(297)$(1,205)$(667)$— $1,512 $(657)
Net Assets (Liabilities) at end of period$1,105 $407 $(13)$535 $12 $2,046 $1,210 $301 $(277)$489 $23 $1,746 
Assets
Current$137 $427 $196 $— $(505)$255 $360 $881 $286 $— $(1,189)$338 
Noncurrent1,092 528 89 535 (154)2,090 1,147 625 104 489 (300)2,065 
Total Assets$1,229 $955 $285 $535 $(659)$2,345 $1,507 $1,506 $390 $489 $(1,489)$2,403 
Liabilities
Current$(101)$(410)$(146)$— $512 $(145)$(273)$(876)$(386)$— $1,193 $(342)
Noncurrent(23)(138)(152)— 159 (154)(24)(329)(281)— 319 (315)
Total Liabilities$(124)$(548)$(298)$— $671 $(299)$(297)$(1,205)$(667)$— $1,512 $(657)
Net Assets (Liabilities) at end of period$1,105 $407 $(13)$535 $12 $2,046 $1,210 $301 $(277)$489 $23 $1,746 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.
(c)Amounts include $25 million and $10 million of cash equivalents recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at September 30, 2023 and December 31, 2022, respectively. All other amounts are included in Cash and cash equivalents on DTE Energy's Consolidated Statements of Financial Position.
(d)Excludes cash surrender value of life insurance investments and certain securities classified as held-to-maturity that are recorded at amortized cost and not material to the consolidated financial statements.
(e)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of:
September 30, 2023December 31, 2022
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(b)
$23 $— $— $— $23 $9 $— $— $— $9 
Nuclear decommissioning trusts
Equity securities716 — — 136 852 701 — — 138 839 
Fixed income securities105 346 — 91 542 115 359 — 89 563 
Private equity and other— — — 308 308 — — — 262 262 
Hedge funds and similar investments106 66 — — 172 78 41 — — 119 
Cash equivalents39 — — — 39 42 — — — 42 
Other investments
Equity securities19 — — — 19 16 — — — 16 
Cash equivalents12 — — — 12 11 — — — 11 
Derivative assets — FTRs— — 10 — 10 — — 11 — 11 
Total$1,020 $412 $10 $535 $1,977 $972 $400 $11 $489 $1,872 
Assets
Current$23 $— $10 $— $33 $9 $— $11 $— $20 
Noncurrent997 412 — 535 1,944 963 400 — 489 1,852 
Total Assets$1,020 $412 $10 $535 $1,977 $972 $400 $11 $489 $1,872 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Cash equivalents of $23 million and $9 million are included in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at September 30, 2023 and December 31, 2022, respectively.
Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy:
Three Months Ended September 30, 2023Three Months Ended September 30, 2022
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of June 30$(54)$(4)$16 $(42)$(362)$(96)$30 $(428)
Transfers into Level 3 from Level 2— — — — (3)— — (3)
Transfers from Level 3 into Level 2— — — — — — (5)(5)
Total gains (losses)
Included in earnings(a)
1 79 (1)79 (32)40 (1)7 
Recorded in Regulatory liabilities— — (2)(2)— — (4)(4)
Purchases, issuances, and settlements
Settlements25 (71)(2)(48)84 (20)(5)59 
Net Assets (Liabilities) as of September 30$(28)$4 $11 $(13)$(313)$(76)$15 $(374)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30(a)
$4 $26 $(6)$24 $29 $37 $(5)$61 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $1 $1 $— $— $(1)$(1)
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
Nine Months Ended September 30, 2023Nine Months Ended September 30, 2022
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$(255)$(33)$11 $(277)$(179)$(45)$9 $(215)
Transfers from Level 3 into Level 2— — — — 5 — 5 
Total gains (losses)
Included in earnings(a)
163 109 1 273 (382)22 1 (359)
Recorded in Regulatory liabilities— — 3 3 — — 20 20 
Purchases, issuances, and settlements
Settlements64 (72)(4)(12)243 (53)(15)175 
Net Assets (Liabilities) as of September 30$(28)$4 $11 $(13)$(313)$(76)$15 $(374)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30a)
$94 $94 $(36)$152 $(248)$(2)$(31)$(281)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $10 $10 $— $— $16 $16 
_______________________________________
(a)Amounts are reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, gas, and other — non-utility in DTE Energy's Consolidated Statements of Operations.
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Net Assets as of beginning of period$14 $25 $11 $9 
Total gains (losses) recorded in Regulatory liabilities(2)(4)3 20 
Purchases, issuances, and settlements
Settlements(2)(5)(4)(13)
Net Assets as of September 30$10 $16 $10 $16 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$1 $(1)$10 $16 
Unobservable Inputs Related to Level 3 Assets and Liabilities
The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:
September 30, 2023
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$158 $(186)Discounted Cash FlowForward basis price (per MMBtu)$(1.69)—$4.79 /MMBtu$0.01 /MMBtu
Electricity$110 $(106)Discounted Cash FlowForward basis price (per MWh)$(17.56)—$12.03 /MWh$(4.15)/MWh
December 31, 2022
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$135 $(390)Discounted Cash FlowForward basis price (per MMBtu)$(1.91)—$39.94 /MMBtu$0.18 /MMBtu
Electricity$243 $(276)Discounted Cash FlowForward basis price (per MWh)$(29.41)—$15.00 /MWh$(3.04)/MWh
Carrying Amount of Fair Value of Financial Instruments
The following table presents the carrying amount and fair value of financial instruments for DTE Energy:
September 30, 2023December 31, 2022
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$141 $— $— $141 $80 $— $— $82 
Short-term borrowings$1,217 $— $1,217 $— $1,162 $— $1,162 $— 
Notes payable(b)
$20 $— $— $20 $18 $— $— $18 
Long-term debt(c)
$19,123 $742 $14,875 $934 $17,978 $710 $14,084 $1,199 
_______________________________________
(a)Current portion included in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
The following table presents the carrying amount and fair value of financial instruments for DTE Electric:
September 30, 2023December 31, 2022
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$16 $— $— $16 $17 $— $— $17 
Short-term borrowings — affiliates$— $— $— $— $27 $— $— $27 
Short-term borrowings — other$656 $— $656 $— $568 $— $568 $— 
Notes payable(b)
$20 $— $— $20 $17 $— $— $17 
Long-term debt(c)
$10,865 $— $8,994 $126 $9,696 $— $8,289 $128 
_______________________________________
(a)Included in Current Assets — Other and Other Assets — Other on DTE Electric's Consolidated Statements of Financial Position.
(b)Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.
(c)Includes debt due within one year and excludes finance lease obligations. Carrying value also includes unamortized debt discounts and issuance costs.
Fair Value of Nuclear Decommissioning Trust Fund Assets
The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:
September 30, 2023December 31, 2022
(In millions)
Fermi 2$1,898 $1,807 
Fermi 13 3 
Low-level radioactive waste12 15 
$1,913 $1,825 
Schedule of Realized Gains and Losses and Proceeds from Sale of Securities by Nuclear Decommissioning Trust Funds The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Realized gains$5 $19 $24 $65 
Realized losses$(6)$(19)$(32)$(42)
Proceeds from sale of securities$104 $194 $527 $707 
Fair Value and Unrealized Gains and Losses for Nuclear Decommissioning Trust Funds
The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:
September 30, 2023December 31, 2022
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$852 $388 $(19)$839 $342 $(23)
Fixed income securities542 — (53)563 1 (56)
Private equity and other308 76 (7)262 63 (5)
Hedge funds and similar investments172 3 (14)119 — (18)
Cash equivalents39 — — 42 — — 
$1,913 $467 $(93)$1,825 $406 $(102)
Fair Value of the Fixed Income Securities Held in Nuclear Decommissioning Trust Funds
The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:
September 30, 2023
(In millions)
Due within one year$7 
Due after one through five years105 
Due after five through ten years86 
Due after ten years253 
$451 
v3.23.3
Financial and Other Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table presents the fair value of derivative instruments for DTE Energy:
September 30, 2023December 31, 2022
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
  Interest rate contracts $22 $— $1 $— 
  Foreign currency exchange contracts— (1)— (2)
Total derivatives designated as hedging instruments$22 $(1)$1 $(2)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$441 $(476)$744 $(1,018)
Electricity333 (318)963 (935)
Environmental & Other171 (175)213 (214)
Foreign currency exchange contracts1 — 1 — 
Total derivatives not designated as hedging instruments$946 $(969)$1,921 $(2,167)
Current$733 $(657)$1,517 $(1,535)
Noncurrent235 (313)405 (634)
Total derivatives$968 $(970)$1,922 $(2,169)
Offsetting Assets
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2023December 31, 2022
(In millions)
Cash collateral netted against Derivative assets$— $(90)
Cash collateral netted against Derivative liabilities12 113 
Cash collateral recorded in Accounts receivable(a)
52 77 
Cash collateral recorded in Accounts payable(a)
(15)(27)
Total net cash collateral posted (received)$49 $73 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2023December 31, 2022
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$441 $(299)$142 $744 $(649)$95 
Electricity333 (198)135 963 (643)320 
Environmental & Other171 (162)9 213 (196)17 
Interest rate contracts 22 — 22 1 — 1 
Foreign currency exchange contracts1 — 1 1 (1)— 
Total derivative assets$968 $(659)$309 $1,922 $(1,489)$433 
Derivative liabilities
Commodity contracts(a)
Natural gas$(476)$301 $(175)$(1,018)$645 $(373)
Electricity(318)208 (110)(935)665 (270)
Environmental & Other(175)162 (13)(214)201 (13)
Foreign currency exchange contracts(1)— (1)(2)1 (1)
Total derivative liabilities$(970)$671 $(299)$(2,169)$1,512 $(657)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Offsetting Liabilities
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2023December 31, 2022
(In millions)
Cash collateral netted against Derivative assets$— $(90)
Cash collateral netted against Derivative liabilities12 113 
Cash collateral recorded in Accounts receivable(a)
52 77 
Cash collateral recorded in Accounts payable(a)
(15)(27)
Total net cash collateral posted (received)$49 $73 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2023December 31, 2022
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$441 $(299)$142 $744 $(649)$95 
Electricity333 (198)135 963 (643)320 
Environmental & Other171 (162)9 213 (196)17 
Interest rate contracts 22 — 22 1 — 1 
Foreign currency exchange contracts1 — 1 1 (1)— 
Total derivative assets$968 $(659)$309 $1,922 $(1,489)$433 
Derivative liabilities
Commodity contracts(a)
Natural gas$(476)$301 $(175)$(1,018)$645 $(373)
Electricity(318)208 (110)(935)665 (270)
Environmental & Other(175)162 (13)(214)201 (13)
Foreign currency exchange contracts(1)— (1)(2)1 (1)
Total derivative liabilities$(970)$671 $(299)$(2,169)$1,512 $(657)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Netting Offsets of Derivative Assets and Liabilities Reconciliation to the Statements of Financial Position
The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position:
September 30, 2023December 31, 2022
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$733 $235 $(657)$(313)$1,517 $405 $(1,535)$(634)
Counterparty netting(505)(154)505 154 (1,127)(272)1,127 272 
Collateral adjustment— — 7 5 (62)(28)66 47 
Total derivatives as reported$228 $81 $(145)$(154)$328 $105 $(342)$(315)
Gain (Loss) Recognized in Income on Derivatives
The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows:
Location of Gain (Loss) Recognized in Income on DerivativesGain (Loss) Recognized in Income on Derivatives for the Three Months Ended September 30,Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
2023202220232022
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(41)$(52)$89 $(315)
Natural gasFuel, purchased power, gas, and other — non-utility37 108 120 8 
ElectricityOperating Revenues — Non-utility operations85 61 30 173 
Environmental & OtherOperating Revenues — Non-utility operations(4)(3)(5)15 
Foreign currency exchange contractsOperating Revenues — Non-utility operations1 5 — 5 
Total$78 $119 $234 $(114)
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2023:
CommodityNumber of Units
Natural gas (MMBtu)2,208,451,991 
Electricity (MWh)37,535,900 
Oil (Gallons)4,740,000 
Foreign currency exchange ($ CAD)150,049,286 
FTR (MWh)98,119 
Renewable Energy Certificates (MWh)10,856,311 
Carbon emissions (Metric Tons)1,652,108 
Interest rate contracts ($ USD)500,000,000 
v3.23.3
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Debt Issuances
Refer to the table below for debt issued through September 30, 2023:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricMarch
Mortgage bonds(a)
5.20%2033$600 
DTE ElectricMarch
Mortgage bonds(a)
5.40%2053600 
DTE EnergyMarch
Term loan facility draw(b)
Variable2023200 
DTE EnergyMay
Senior notes(c)
4.875%2028800 
DTE ElectricJune
Tax-exempt revenue bonds(d)
3.875%2053100 
$2,300 
_______________________________________
(a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.
(b)Proceeds used for general corporate purposes.
(c)Proceeds used for the repayment of amounts outstanding under the term loan facility.
(d)Tax-exempt revenue bonds are issued by a public body that loans the proceeds to DTE Electric with terms substantially mirroring the revenue bonds. Proceeds were used to finance costs relating to solid waste disposal facilities at the Monroe and St. Clair power plants. The bonds will be subject to mandatory tender in June 2030.
Schedule of Debt Redemptions
Refer to the table below for debt redeemed through September 30, 2023:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE GasAprilSenior notes6.44%2023$25 
DTE EnergyMayTerm loan facilityVariable2023800 
DTE ElectricJuneSecuritization bonds2.64%202319 
DTE EnergyJuneTerm loan facilityVariable2023200 
DTE ElectricSeptemberMortgage bonds4.31%2023102 
$1,146 
v3.23.3
Short-Term Credit Arrangements and Borrowings (Tables)
 9 Months Ended
Sep. 30, 2023
Short-Term Debt [Abstract]  
Schedule of Line of Credit Facilities
The availability under these facilities as of September 30, 2023 is shown in the following table:
DTE EnergyDTE ElectricDTE GasTotal
(In millions)
Unsecured revolving credit facility, expiring October 2028$1,500 $800 $300 $2,600 
Unsecured letter of credit facility, expiring June 2024175 — — 175 
Unsecured letter of credit facility, expiring February 2025150 — — 150 
Unsecured letter of credit facility(a)
100 — — 100 
Unsecured letter of credit facility(b)
— 100 — 100 
Unsecured letter of credit facility(a)
50 — — 50 
1,975 900 300 3,175 
Amounts outstanding at September 30, 2023
Commercial paper issuances371 656 190 1,217 
Letters of credit144 23 — 167 
515 679 190 1,384 
Net availability at September 30, 2023$1,460 $221 $110 $1,791 
_______________________________________
(a)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration.
(b)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration. DTE Energy may also utilize availability under this facility.
v3.23.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Lease Income Associated with Operating Leases
DTE Energy’s lease income associated with operating leases, included in Operating Revenues — Non-utility operations in the Consolidated Statements of Operations, was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Fixed payments$4 $3 $11 $11 
Variable payments15 21 33 52 
$19 $24 $44 $63 
v3.23.3
Retirement Benefits and Trusteed Assets (Tables)
 9 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Costs (Credits)
The following tables detail the components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits for DTE Energy:
Pension BenefitsOther Postretirement Benefits
2023202220232022
(In millions)
Three Months Ended September 30,
Service cost$15 $25 $4 $6 
Interest cost54 41 17 12 
Expected return on plan assets(89)(87)(28)(32)
Amortization of:
Net actuarial loss2 29 2 1 
Prior service credit(1)— (4)(4)
Net periodic benefit cost (credit)$(19)$8 $(9)$(17)
Pension BenefitsOther Postretirement Benefits
2023202220232022
(In millions)
Nine Months Ended September 30,
Service cost$43 $72 $13 $20 
Interest cost161 124 49 36 
Expected return on plan assets(264)(260)(83)(95)
Amortization of:
Net actuarial loss5 86 7 3 
Prior service credit(2)— (14)(14)
Settlements7 — — — 
Net periodic benefit cost (credit)$(50)$22 $(28)$(50)
The following table details the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Service cost$3 $5 $10 $15 
Interest cost12 10 37 28 
Expected return on plan assets(18)(22)(55)(64)
Amortization of:
Net actuarial loss— 2 — 4 
Prior service credit(3)(4)(10)(10)
Net periodic benefit credit$(6)$(9)$(18)$(27)
v3.23.3
Segment and Related Information (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Financial Data of Business Segments
Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider. Such billing primarily consists of power sales, sale and transportation of natural gas, and renewable natural gas sales in the segments below, as well as charges from Electric to other segments for use of the shared capital assets of DTE Electric.
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Electric$20 $19 $55 $53 
Gas4 4 13 10 
DTE Vantage13 15 32 57 
Energy Trading20 39 65 78 
Corporate and Other— — — — 
$57 $77 $165 $198 
Financial data of DTE Energy's business segments follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Operating Revenues — Utility operations
Electric$1,623 $1,844 $4,324 $4,896 
Gas227 230 1,245 1,358 
Operating Revenues — Non-utility operations
Electric3 3 10 11 
DTE Vantage199 227 572 626 
Energy Trading893 3,024 3,365 8,059 
Corporate and Other— — — — 
Reconciliation and Eliminations(57)(77)(165)(198)
Total$2,888 $5,251 $9,351 $14,752 
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment
Electric$268 $363 $547 $750 
Gas(5)(23)190 179 
DTE Vantage56 26 109 68 
Energy Trading65 56 234 (80)
Corporate and Other(52)(35)(102)(99)
Net Income Attributable to DTE Energy Company$332 $387 $978 $818 
v3.23.3
Organization and Basis of Presentation (Details Textuals)
customer in Millions, $ in Millions
Sep. 30, 2023
USD ($)
customer
Variable Interest Entity [Line Items]  
Number of electric utility customers | customer 2.3
Number of gas utility customers | customer 1.3
Material potential exposure | $ $ 0
DTE Electric  
Variable Interest Entity [Line Items]  
Material potential exposure | $ $ 0
v3.23.3
Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 36 $ 33
Restricted cash 30 10
Accounts receivable 1,393 2,038
Securitized regulatory assets 178 206
Total Assets 43,730 42,683
LIABILITIES    
Accounts payable 1,135 1,604
Short-term borrowings 1,217 1,162
DTE Electric    
ASSETS    
Cash and cash equivalents 13 15
Restricted cash 24 9
Securitized regulatory assets 178 206
Total Assets 31,618 30,236
Variable interest entity, primary beneficiary    
ASSETS    
Cash and cash equivalents 11 14
Restricted cash 28 9
Accounts receivable 115 6
Securitized regulatory assets 178 206
Notes receivable 153 81
Other current and long-term assets 2 8
Total Assets 487 324
LIABILITIES    
Accounts payable 57 3
Short-term borrowings 0 81
Securitization bonds 193 211
Other current and long-term liabilities 18 11
Total liabilities 268 306
Current portion of securitization bonds 40 39
Variable interest entity, primary beneficiary | DTE Electric    
ASSETS    
Cash and cash equivalents 0 0
Restricted cash 23 9
Accounts receivable 2 3
Securitized regulatory assets 178 206
Notes receivable 0 0
Other current and long-term assets 0 0
Total Assets 203 218
LIABILITIES    
Accounts payable 0 0
Short-term borrowings 0 0
Securitization bonds 193 211
Other current and long-term liabilities 10 9
Total liabilities 203 220
Current portion of securitization bonds $ 40 $ 39
v3.23.3
Organization and Basis of Presentation (Non-Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Variable Interest Entity [Line Items]    
Investments in equity method investees $ 180 $ 165
Notes receivable 400 331
Variable interest entity, non-consolidated    
Variable Interest Entity [Line Items]    
Investments in equity method investees 125 137
Notes receivable 15 15
Future funding commitments $ 1 $ 2
v3.23.3
Significant Accounting Policies (Other Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Schedule of Other Nonoperating Income, by Component [Line Items]        
Allowance for equity funds used during construction $ 8 $ 6 $ 26 $ 20
Contract services 5 7 18 21
Investment income 0 0 9 0
Equity earnings (losses) of equity method investees 3 0 7 (15)
Other (3) 3 10 9
Total other income 13 16 70 35
DTE Electric        
Schedule of Other Nonoperating Income, by Component [Line Items]        
Allowance for equity funds used during construction 8 6 25 18
Contract services 6 7 18 21
Investment income 0 0 6 0
Other 2 2 7 7
Total other income $ 16 $ 15 $ 56 $ 46
v3.23.3
Significant Accounting Policies (Income Taxes) (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Schedule of Income Taxes [Line Items]        
Statutory federal income tax rate 21.00% 21.00% 21.00% 21.00%
Increase (decrease) due to:        
State and local income taxes, net of federal benefit 4.80% 4.40% 4.50% 4.50%
Production tax credits (7.80%) (9.10%) (6.40%) (9.40%)
TCJA amortization (4.90%) (13.60%) (4.20%) (14.80%)
Investment tax credits (3.80%) 0.00% (2.60%) (0.10%)
Enactment of West Virginia income tax legislation, net of federal benefit 0.00% 0.00% (0.60%) 0.00%
Other (3.00%) (1.20%) (1.90%) (1.20%)
Effective Tax Rate 6.30% 1.50% 9.80% 0.00%
DTE Electric        
Schedule of Income Taxes [Line Items]        
Statutory federal income tax rate 21.00% 21.00% 21.00% 21.00%
Increase (decrease) due to:        
State and local income taxes, net of federal benefit 5.70% 5.70% 5.70% 5.70%
Production tax credits (11.10%) (9.50%) (9.40%) (9.20%)
TCJA amortization (6.90%) (14.60%) (5.90%) (15.00%)
Other (1.90%) (0.90%) (2.20%) (0.90%)
Effective Tax Rate 6.80% 1.70% 9.20% 1.60%
v3.23.3
Significant Accounting Policies (Details Textuals) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Significant Accounting Policies [Line Items]            
Accounts receivable $ 1,393,000,000     $ 1,393,000,000   $ 2,038,000,000
Unrecognized tax benefits decrease as a result of a settlement related to state exposures   $ 10,000,000        
Reduction to income tax expense as a result of an audit settlement related to state exposures   8,000,000        
Unrecognized tax benefits decrease due to recognition of a federal tax claim 5,000,000          
Reduction to income tax expense as a result of recognition of a federal tax claim 5,000,000          
Unrecognized tax benefits 0     0    
Accrued interest pertaining to income taxes           5,000,000
Unrecognized compensation cost 77,000,000     $ 77,000,000    
Recognition period (in years)       1 year 4 months 24 days    
Specific review of probable future collections based on receivable balances, threshold duration       30 days    
Past due            
Significant Accounting Policies [Line Items]            
Financing receivables 0     $ 0    
Notes receivable            
Significant Accounting Policies [Line Items]            
Financing receivables $ 141,000,000     $ 141,000,000    
Notes receivable | Minimum            
Significant Accounting Policies [Line Items]            
Number of days after which receivable is considered delinquent 60 days     60 days    
Notes receivable | Maximum            
Significant Accounting Policies [Line Items]            
Number of days after which receivable is considered delinquent 120 days     120 days    
DTE Electric and DTE Gas            
Significant Accounting Policies [Line Items]            
Threshold period past due for write-off of trade accounts receivable       150 days    
DTE Electric and DTE Gas | Accounts receivable            
Significant Accounting Policies [Line Items]            
Number of days after which receivable is considered delinquent 21 days     21 days    
DTE Electric            
Significant Accounting Policies [Line Items]            
Unrecognized tax benefits decrease as a result of a settlement related to state exposures   13,000,000        
Reduction to income tax expense as a result of an audit settlement related to state exposures   $ 10,000,000        
Unrecognized tax benefits $ 0     $ 0    
Accrued interest pertaining to income taxes           8,000,000
DTE Electric | Notes receivable            
Significant Accounting Policies [Line Items]            
Financing receivables 16,000,000     16,000,000    
DTE Electric | DTE Energy            
Significant Accounting Policies [Line Items]            
Allocated costs 7,000,000   $ 9,000,000 27,000,000 $ 30,000,000  
DTE Electric | DTE Energy | Federal taxes            
Significant Accounting Policies [Line Items]            
Accounts receivable $ 7,000,000     $ 7,000,000    
DTE Electric | DTE Energy | State taxes            
Significant Accounting Policies [Line Items]            
Accounts receivable           $ 1,000,000
v3.23.3
Significant Accounting Policies (Financing Receivables Classified by Internal Grade of Credit Risk) (Details)
$ in Millions
Sep. 30, 2023
USD ($)
Notes receivable  
Financing receivables by year of origination  
2023 $ 33
2022 85
2021 and Prior 23
Total 141
Notes receivable | DTE Electric  
Financing receivables by year of origination  
Total 16
Notes receivable | Internal grade 1  
Financing receivables by year of origination  
2023 14
2022 0
2021 and Prior 6
Total 20
Notes receivable | Internal grade 1 | DTE Electric  
Financing receivables by year of origination  
Total 16
Notes receivable | Internal grade 2  
Financing receivables by year of origination  
2023 19
2022 85
2021 and Prior 17
Total 121
Notes receivable | Internal grade 2 | DTE Electric  
Financing receivables by year of origination  
Total 0
Net investment in leases  
Financing receivables by year of origination  
2023 0
2022 65
2021 and Prior 222
Total 287
Net investment in leases | DTE Electric  
Financing receivables by year of origination  
Total 0
Net investment in leases | Internal grade 1  
Financing receivables by year of origination  
2023 0
2022 0
2021 and Prior 37
Total 37
Net investment in leases | Internal grade 1 | DTE Electric  
Financing receivables by year of origination  
Total 0
Net investment in leases | Internal grade 2  
Financing receivables by year of origination  
2023 0
2022 65
2021 and Prior 185
Total 250
Net investment in leases | Internal grade 2 | DTE Electric  
Financing receivables by year of origination  
Total $ 0
v3.23.3
Significant Accounting Policies (Roll-Forward of Activity for Financing Receivables Credit Loss Reserves) (Details) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 79 $ 92
Current period provision 44 49
Write-offs charged against allowance (78) (107)
Recoveries of amounts previously written off 31 45
Ending balance 76 79
DTE Electric    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 49 54
Current period provision 28 33
Write-offs charged against allowance (51) (66)
Recoveries of amounts previously written off 20 28
Ending balance 46 49
Trade accounts receivable    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 78 89
Current period provision 44 49
Write-offs charged against allowance (78) (105)
Recoveries of amounts previously written off 31 45
Ending balance 75 78
Other receivables    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 1 3
Current period provision 0 0
Write-offs charged against allowance 0 (2)
Recoveries of amounts previously written off 0 0
Ending balance $ 1 $ 1
v3.23.3
Significant Accounting Policies (Uncollectible Expense) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Uncollectible expense $ 10 $ 12 $ 45 $ 46
DTE Electric        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Uncollectible expense $ 11 $ 12 $ 28 $ 28
v3.23.3
Revenue (Disaggregation of Revenue By Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Disaggregation of Revenue [Line Items]        
Revenues $ 2,888 $ 5,251 $ 9,351 $ 14,752
Operating segments | Electric        
Disaggregation of Revenue [Line Items]        
Revenues 1,626 1,847 4,334 4,907
Operating segments | Electric | Residential        
Disaggregation of Revenue [Line Items]        
Revenues 861 882 2,173 2,273
Operating segments | Electric | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues 585 541 1,604 1,505
Operating segments | Electric | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues 190 167 545 498
Operating segments | Electric | Other        
Disaggregation of Revenue [Line Items]        
Revenues (10) 257 12 631
Operating segments | Electric | Other | DTE Sustainable Generation        
Disaggregation of Revenue [Line Items]        
Revenues 3 3 10 11
Operating segments | Gas        
Disaggregation of Revenue [Line Items]        
Revenues 227 230 1,245 1,358
Operating segments | Gas | Gas sales        
Disaggregation of Revenue [Line Items]        
Revenues 119 128 936 955
Operating segments | Gas | End User Transportation        
Disaggregation of Revenue [Line Items]        
Revenues 44 42 184 195
Operating segments | Gas | Intermediate Transportation        
Disaggregation of Revenue [Line Items]        
Revenues 16 15 63 60
Operating segments | Gas | Other        
Disaggregation of Revenue [Line Items]        
Revenues 48 45 62 148
Operating segments | DTE Vantage        
Disaggregation of Revenue [Line Items]        
Revenues 199 227 572 626
Operating segments | Energy Trading        
Disaggregation of Revenue [Line Items]        
Revenues $ 893 $ 3,024 $ 3,365 $ 8,059
v3.23.3
Revenue (Revenues Outside the Scope of Topic 606) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Disaggregation of Revenue [Line Items]        
Leases $ 19 $ 24 $ 44 $ 63
Operating segments | Electric        
Disaggregation of Revenue [Line Items]        
Other revenues 8 7 18 15
Operating segments | Gas        
Disaggregation of Revenue [Line Items]        
Other revenues 2 2 7 6
Alternative Revenue Program 0 0 4 0
Operating segments | DTE Vantage        
Disaggregation of Revenue [Line Items]        
Leases 19 24 44 63
Operating segments | Energy Trading        
Disaggregation of Revenue [Line Items]        
Derivatives $ 670 $ 2,531 $ 2,527 $ 6,691
v3.23.3
Revenue (Deferred Revenue Activity) (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2023
USD ($)
Contract Liability [Roll Forward]  
Beginning Balance $ 94
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 113
Revenue recognized that was included in the deferred revenue balance at the beginning of the period (42)
Ending Balance $ 165
v3.23.3
Revenue (Expected Recognition of Deferred Revenue) (Details) - Deferred revenue
$ in Millions
Sep. 30, 2023
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 165
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 95
Remaining performance obligation, expected timing of satisfaction 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 68
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction
v3.23.3
Revenue (Expected Timing of Performance Obligation Satisfaction) (Details) - Fixed-price Contract
$ in Millions
Sep. 30, 2023
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1,005
DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation 10
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 33
Remaining performance obligation, expected timing of satisfaction 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 2
Remaining performance obligation, expected timing of satisfaction 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 247
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 8
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 184
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 99
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 67
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 375
Remaining performance obligation, expected timing of satisfaction
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction
v3.23.3
Regulatory Matters (Details Textuals)
$ in Millions
 1 Months Ended
Jul. 26, 2023
USD ($)
Feb. 10, 2023
USD ($)
Nov. 30, 2022
Dec. 31, 2023
USD ($)
Nov. 01, 2023
USD ($)
tranche
Sep. 30, 2023
USD ($)
Jun. 22, 2023
USD ($)
Apr. 03, 2023
USD ($)
Dec. 31, 2022
USD ($)
Public Utilities, General Disclosures [Line Items]                  
Face amount issued           $ 2,300      
Reclassification from property, plant, and equipment           (27,528)     $ (28,767)
Reclassification to long-term regulatory assets           6,715     3,886
DTE Electric                  
Public Utilities, General Disclosures [Line Items]                  
Reclassification from property, plant, and equipment           (20,892)     (22,496)
Reclassification to long-term regulatory assets           6,102     $ 3,219
DTE Electric | Subsequent Event | Securitization Bonds                  
Public Utilities, General Disclosures [Line Items]                  
Face amount issued         $ 602        
Number of tranches | tranche         2        
DTE Electric | 5.97% Securitization Bonds due in 2033 | Subsequent Event | Securitization Bonds                  
Public Utilities, General Disclosures [Line Items]                  
Face amount issued         $ 301        
DTE Electric | 6.09% Securitization Bonds due in 2038 | Subsequent Event | Securitization Bonds                  
Public Utilities, General Disclosures [Line Items]                  
Face amount issued         301        
DTE Electric | Ludington Hydroelectric Pumped Storage                  
Public Utilities, General Disclosures [Line Items]                  
Ownership interest     49.00%            
Consumers | Ludington Hydroelectric Pumped Storage                  
Public Utilities, General Disclosures [Line Items]                  
Ownership interest     51.00%            
MPSC | DTE Electric | 2023 Electric Rate Case Filing                  
Public Utilities, General Disclosures [Line Items]                  
Requested rate increase   $ 622              
Approved return on equity percent   9.90%              
Return on equity requested percent   10.25%              
MPSC | DTE Electric | 2023 Securitization Filing                  
Public Utilities, General Disclosures [Line Items]                  
Requested securitization of qualified costs               $ 496  
Authorized issuance of securitization bonds for qualified costs, maximum             $ 602    
MPSC | DTE Electric | 2023 Securitization Filing | Forecast                  
Public Utilities, General Disclosures [Line Items]                  
Securitized Regulatory Assets       $ 594          
MPSC | DTE Electric | 2023 Securitization Filing | Subsequent Event | Securitization Bonds                  
Public Utilities, General Disclosures [Line Items]                  
Face amount issued         $ 602        
Number of tranches | tranche         2        
MPSC | DTE Electric | 2023 Securitization Filing | Securitized regulatory asset, tranche one | Maximum | Forecast                  
Public Utilities, General Disclosures [Line Items]                  
Amortization period for regulatory asset       10 years          
MPSC | DTE Electric | 2023 Securitization Filing | Securitized regulatory asset, tranche two | Maximum | Forecast                  
Public Utilities, General Disclosures [Line Items]                  
Amortization period for regulatory asset       15 years          
MPSC | DTE Electric | 2023 Securitization Filing | 5.97% Securitization Bonds due in 2033 | Subsequent Event | Securitization Bonds                  
Public Utilities, General Disclosures [Line Items]                  
Face amount issued         $ 301        
MPSC | DTE Electric | 2023 Securitization Filing | 6.09% Securitization Bonds due in 2038 | Subsequent Event | Securitization Bonds                  
Public Utilities, General Disclosures [Line Items]                  
Face amount issued         $ 301        
MPSC | DTE Electric | 2023 Securitization Filing | Net book value of the St. Clair and Trenton Channel plants                  
Public Utilities, General Disclosures [Line Items]                  
Authorized issuance of securitization bonds for qualified costs, maximum             594    
MPSC | DTE Electric | 2023 Securitization Filing | Other qualified costs                  
Public Utilities, General Disclosures [Line Items]                  
Authorized issuance of securitization bonds for qualified costs, maximum             $ 8    
MPSC | DTE Electric | Integrated Resource Plan                  
Public Utilities, General Disclosures [Line Items]                  
Period over which to meet the needs of customers     20 years            
Authorized securitization of plant costs $ 1,050                
Committed total donations 38                
MPSC | DTE Electric | Integrated Resource Plan | Scenario, adjustment                  
Public Utilities, General Disclosures [Line Items]                  
Reclassification from property, plant, and equipment           2,700      
Reclassification to long-term regulatory assets           $ 2,700      
MPSC | DTE Electric | Integrated Resource Plan | Organizations providing energy support to low-income customers                  
Public Utilities, General Disclosures [Line Items]                  
Committed annual donations 2                
MPSC | DTE Electric | Integrated Resource Plan | Organizations providing customers with bill assistance                  
Public Utilities, General Disclosures [Line Items]                  
Committed total donations 30                
MPSC | DTE Electric | Integrated Resource Plan | Organizations providing customers with bill assistance | Minimum                  
Public Utilities, General Disclosures [Line Items]                  
Committed annual donations 1                
MPSC | DTE Electric | Integrated Resource Plan | Belle River coal handling assets                  
Public Utilities, General Disclosures [Line Items]                  
Authorized securitization of plant costs 200                
MPSC | DTE Electric | Integrated Resource Plan | Monroe assets                  
Public Utilities, General Disclosures [Line Items]                  
Authorized securitization of plant costs $ 845                
MPSC | DTE Electric | Integrated Resource Plan | Recoverable undepreciated costs on retiring plants | Monroe assets                  
Public Utilities, General Disclosures [Line Items]                  
Return on equity requested percent 9.00%                
Amortization period for regulatory asset 15 years                
Requested regulatory asset $ 1,600                
v3.23.3
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Basic Earnings per Share        
Net Income Attributable to DTE Energy Company $ 332 $ 387 $ 978 $ 818
Less: Allocation of earnings to net restricted stock awards 0 1 2 2
Net income available to common shareholders — basic $ 332 $ 386 $ 976 $ 816
Average number of common shares outstanding — basic (in shares) 206.0 193.0 206.0 193.0
Basic Earnings per Common Share (in dollars per share) $ 1.61 $ 2.00 $ 4.74 $ 4.22
Diluted Earnings per Share        
Net Income Attributable to DTE Energy Company $ 332 $ 387 $ 978 $ 818
Less: Allocation of earnings to net restricted stock awards 0 1 2 2
Net income available to common shareholders — diluted $ 332 $ 386 $ 976 $ 816
Average number of common shares outstanding — basic (in shares) 206.0 193.0 206.0 193.0
Average performance share awards (in shares) 0.0 1.0 0.0 1.0
Average number of common shares outstanding — diluted (in shares) 206.0 194.0 206.0 194.0
Diluted Earnings per Common Share (in dollars per share) $ 1.61 $ 1.99 $ 4.74 $ 4.21
Antidilutive securities excluded from computation of earnings per share (in shares)   10.1   10.2
v3.23.3
Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivative assets    
Derivative assets, gross $ 968 $ 1,922
Derivative asset, netting (659) (1,489)
Derivative liabilities    
Derivative liabilities, gross (970) (2,169)
Derivative liability, netting 671 1,512
DTE Electric    
Assets    
Nuclear decommissioning trusts 1,913 1,825
Current liabilities    
Derivative liabilities    
Derivative liabilities, gross (657) (1,535)
Noncurrent liabilities    
Derivative liabilities    
Derivative liabilities, gross (313) (634)
Natural gas    
Derivative assets    
Derivative assets, gross 441 744
Derivative asset, netting (299) (649)
Derivative liabilities    
Derivative liabilities, gross (476) (1,018)
Derivative liability, netting 301 645
Electricity    
Derivative assets    
Derivative assets, gross 333 963
Derivative asset, netting (198) (643)
Derivative liabilities    
Derivative liabilities, gross (318) (935)
Derivative liability, netting 208 665
Environmental & Other    
Derivative assets    
Derivative assets, gross 171 213
Derivative asset, netting (162) (196)
Derivative liabilities    
Derivative liabilities, gross (175) (214)
Derivative liability, netting 162 201
Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 39 42
Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 308 262
Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 172 119
Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 852 839
Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 542 563
Recurring    
Assets    
Cash equivalents 27 10
Derivative assets    
Derivative asset, netting (659) (1,489)
Derivative assets, net 309 433
Total Assets 2,345 2,403
Derivative liabilities    
Derivative liability, netting 671 1,512
Total Liabilities (299) (657)
Net Assets (Liabilities) at end of period 2,046 1,746
Net Assets (Liabilities) at end of period, netting 12 23
Recurring | DTE Electric    
Assets    
Cash equivalents 23 9
Derivative assets    
Total Assets 1,977 1,872
Recurring | Current assets    
Derivative assets    
Derivative asset, netting (505) (1,189)
Total Assets 255 338
Recurring | Current assets | DTE Electric    
Derivative assets    
Total Assets 33 20
Recurring | Noncurrent assets    
Derivative assets    
Derivative asset, netting (154) (300)
Total Assets 2,090 2,065
Recurring | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 1,944 1,852
Recurring | Current liabilities    
Derivative liabilities    
Derivative liability, netting 512 1,193
Total Liabilities (145) (342)
Recurring | Noncurrent liabilities    
Derivative liabilities    
Derivative liability, netting 159 319
Total Liabilities (154) (315)
Recurring | Restricted cash    
Assets    
Cash equivalents 25 10
Recurring | Restricted cash | DTE Electric    
Assets    
Cash equivalents 23 9
Recurring | Natural gas    
Derivative assets    
Derivative asset, netting (299) (649)
Derivative assets, net 142 95
Derivative liabilities    
Derivative liability, netting 301 645
Derivative liabilities, net (175) (373)
Recurring | Electricity    
Derivative assets    
Derivative asset, netting (198) (643)
Derivative assets, net 135 320
Derivative liabilities    
Derivative liability, netting 208 665
Derivative liabilities, net (110) (270)
Recurring | Environmental & Other    
Derivative assets    
Derivative asset, netting (162) (196)
Derivative assets, net 9 17
Derivative liabilities    
Derivative liability, netting 162 201
Derivative liabilities, net (13) (13)
Recurring | Other Contract    
Derivative assets    
Derivative asset, netting 0 (1)
Derivative assets, net 23 1
Derivative liabilities    
Derivative liability, netting 0 1
Derivative liabilities, net (1) (1)
Recurring | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 10 11
Recurring | Cash equivalents    
Assets    
Nuclear decommissioning trusts 39 42
Other investments 35 72
Recurring | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 39 42
Other investments 12 11
Recurring | Private equity and other    
Assets    
Nuclear decommissioning trusts 308 262
Recurring | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 308 262
Recurring | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 172 119
Recurring | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 172 119
Recurring | Equity securities    
Assets    
Nuclear decommissioning trusts 852 839
Other investments 54 56
Recurring | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 852 839
Other investments 19 16
Recurring | Fixed income securities    
Assets    
Nuclear decommissioning trusts 542 563
Other investments 7 7
Recurring | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 542 563
Recurring | Level 1    
Assets    
Cash equivalents 27 10
Derivative assets    
Derivative assets, gross 140 426
Total Assets 1,229 1,507
Derivative liabilities    
Total Liabilities (124) (297)
Net Assets (Liabilities) at end of period 1,105 1,210
Recurring | Level 1 | DTE Electric    
Assets    
Cash equivalents 23 9
Derivative assets    
Total Assets 1,020 972
Recurring | Level 1 | Current assets    
Derivative assets    
Total Assets 137 360
Recurring | Level 1 | Current assets | DTE Electric    
Derivative assets    
Total Assets 23 9
Recurring | Level 1 | Noncurrent assets    
Derivative assets    
Total Assets 1,092 1,147
Recurring | Level 1 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 997 963
Recurring | Level 1 | Current liabilities    
Derivative liabilities    
Total Liabilities (101) (273)
Recurring | Level 1 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (23) (24)
Recurring | Level 1 | Natural gas    
Derivative assets    
Derivative assets, gross 140 426
Derivative liabilities    
Derivative liabilities, gross (124) (297)
Recurring | Level 1 | Electricity    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 1 | Environmental & Other    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 1 | Other Contract    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 1 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 0 0
Recurring | Level 1 | Cash equivalents    
Assets    
Nuclear decommissioning trusts 39 42
Other investments 35 72
Recurring | Level 1 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 39 42
Other investments 12 11
Recurring | Level 1 | Private equity and other    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 1 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 1 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 106 78
Recurring | Level 1 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 106 78
Recurring | Level 1 | Equity securities    
Assets    
Nuclear decommissioning trusts 716 701
Other investments 54 56
Recurring | Level 1 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 716 701
Other investments 19 16
Recurring | Level 1 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 105 115
Other investments 7 7
Recurring | Level 1 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 105 115
Recurring | Level 2    
Assets    
Cash equivalents 0 0
Derivative assets    
Derivative assets, gross 543 1,106
Total Assets 955 1,506
Derivative liabilities    
Total Liabilities (548) (1,205)
Net Assets (Liabilities) at end of period 407 301
Recurring | Level 2 | DTE Electric    
Assets    
Cash equivalents 0 0
Derivative assets    
Total Assets 412 400
Recurring | Level 2 | Current assets    
Derivative assets    
Total Assets 427 881
Recurring | Level 2 | Current assets | DTE Electric    
Derivative assets    
Total Assets 0 0
Recurring | Level 2 | Noncurrent assets    
Derivative assets    
Total Assets 528 625
Recurring | Level 2 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 412 400
Recurring | Level 2 | Current liabilities    
Derivative liabilities    
Total Liabilities (410) (876)
Recurring | Level 2 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (138) (329)
Recurring | Level 2 | Natural gas    
Derivative assets    
Derivative assets, gross 143 183
Derivative liabilities    
Derivative liabilities, gross (166) (331)
Recurring | Level 2 | Electricity    
Derivative assets    
Derivative assets, gross 223 720
Derivative liabilities    
Derivative liabilities, gross (212) (659)
Recurring | Level 2 | Environmental & Other    
Derivative assets    
Derivative assets, gross 154 201
Derivative liabilities    
Derivative liabilities, gross (169) (213)
Recurring | Level 2 | Other Contract    
Derivative assets    
Derivative assets, gross 23 2
Derivative liabilities    
Derivative liabilities, gross (1) (2)
Recurring | Level 2 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 0 0
Recurring | Level 2 | Cash equivalents    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Private equity and other    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 2 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 2 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 66 41
Recurring | Level 2 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 66 41
Recurring | Level 2 | Equity securities    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 2 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 346 359
Other investments 0 0
Recurring | Level 2 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 346 359
Recurring | Level 3    
Assets    
Cash equivalents 0 0
Derivative assets    
Derivative assets, gross 285 390
Total Assets 285 390
Derivative liabilities    
Total Liabilities (298) (667)
Net Assets (Liabilities) at end of period (13) (277)
Recurring | Level 3 | DTE Electric    
Assets    
Cash equivalents 0 0
Derivative assets    
Total Assets 10 11
Recurring | Level 3 | Current assets    
Derivative assets    
Total Assets 196 286
Recurring | Level 3 | Current assets | DTE Electric    
Derivative assets    
Total Assets 10 11
Recurring | Level 3 | Noncurrent assets    
Derivative assets    
Total Assets 89 104
Recurring | Level 3 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 0 0
Recurring | Level 3 | Current liabilities    
Derivative liabilities    
Total Liabilities (146) (386)
Recurring | Level 3 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (152) (281)
Recurring | Level 3 | Natural gas    
Derivative assets    
Derivative assets, gross 158 135
Derivative liabilities    
Derivative liabilities, gross (186) (390)
Recurring | Level 3 | Electricity    
Derivative assets    
Derivative assets, gross 110 243
Derivative liabilities    
Derivative liabilities, gross (106) (276)
Recurring | Level 3 | Environmental & Other    
Derivative assets    
Derivative assets, gross 17 12
Derivative liabilities    
Derivative liabilities, gross (6) (1)
Recurring | Level 3 | Other Contract    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 3 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 10 11
Recurring | Level 3 | Cash equivalents    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Private equity and other    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 3 | Equity securities    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 0 0
Other investments 0 0
Recurring | Level 3 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Other    
Derivative assets    
Total Assets 535 489
Derivative liabilities    
Net Assets (Liabilities) at end of period 535 489
Recurring | Other | DTE Electric    
Derivative assets    
Total Assets 535 489
Recurring | Other | Noncurrent assets    
Derivative assets    
Total Assets 535 489
Recurring | Other | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 535 489
Recurring | Other | Private equity and other    
Assets    
Nuclear decommissioning trusts 308 262
Recurring | Other | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 308 262
Recurring | Other | Equity securities    
Assets    
Nuclear decommissioning trusts 136 138
Recurring | Other | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 136 138
Recurring | Other | Fixed income securities    
Assets    
Nuclear decommissioning trusts 91 89
Recurring | Other | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts $ 91 $ 89
v3.23.3
Fair Value (Details Textuals) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Nuclear decommissioning trust fund | Fixed income securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities with no contractual maturity date $ 91  
Equity or debt securities | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments, redemption notice period 7 days  
Equity or debt securities | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments, redemption notice period 65 days  
Private equity and other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unfunded commitments related to investments classified as NAV assets $ 158 $ 177
Private equity and other | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments classified as NAV assets, general contractual durations 7 years  
Private equity and other | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments classified as NAV assets, general contractual durations 12 years  
v3.23.3
Fair Value (Reconciliation of Level 3 Assets and Liabilities at Fair Value on a Recurring Basis) (Details) - Recurring - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period $ (42) $ (428) $ (277) $ (215)
Transfers into Level 3 from Level 2 0 (3)    
Transfers from Level 3 into Level 2 0 (5) 0 5
Total gains (losses)        
Included in earnings 79 7 273 (359)
Recorded in Regulatory liabilities (2) (4) 3 20
Purchases, issuances, and settlements        
Settlements (48) 59 (12) 175
Net Assets (Liabilities) as of end of period (13) (374) (13) (374)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 24 61 152 (281)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 1 (1) 10 16
DTE Electric        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period 14 25 11 9
Total gains (losses)        
Recorded in Regulatory liabilities (2) (4) 3 20
Purchases, issuances, and settlements        
Settlements (2) (5) (4) (13)
Net Assets (Liabilities) as of end of period 10 16 10 16
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 1 (1) 10 16
Natural gas        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period (54) (362) (255) (179)
Transfers into Level 3 from Level 2 0 (3)    
Transfers from Level 3 into Level 2 0 0 0 5
Total gains (losses)        
Included in earnings 1 (32) 163 (382)
Recorded in Regulatory liabilities 0 0 0 0
Purchases, issuances, and settlements        
Settlements 25 84 64 243
Net Assets (Liabilities) as of end of period (28) (313) (28) (313)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 4 29 94 (248)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 0 0 0 0
Electricity        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period (4) (96) (33) (45)
Transfers into Level 3 from Level 2 0 0    
Transfers from Level 3 into Level 2 0 0 0 0
Total gains (losses)        
Included in earnings 79 40 109 22
Recorded in Regulatory liabilities 0 0 0 0
Purchases, issuances, and settlements        
Settlements (71) (20) (72) (53)
Net Assets (Liabilities) as of end of period 4 (76) 4 (76)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 26 37 94 (2)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period 0 0 0 0
Other        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period 16 30 11 9
Transfers into Level 3 from Level 2 0 0    
Transfers from Level 3 into Level 2 0 (5) 0
Total gains (losses)        
Included in earnings (1) (1) 1 1
Recorded in Regulatory liabilities (2) (4) 3 20
Purchases, issuances, and settlements        
Settlements (2) (5) (4) (15)
Net Assets (Liabilities) as of end of period 11 15 11 15
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period (6) (5) (36) (31)
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at end of period $ 1 $ (1) $ 10 $ 16
v3.23.3
Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details)
$ in Millions
Sep. 30, 2023
USD ($)
$ / MMBTU
$ / MWh
Dec. 31, 2022
USD ($)
$ / MWh
$ / MMBTU
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 968 $ 1,922
Derivative Liabilities (970) (2,169)
Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 441 744
Derivative Liabilities (476) (1,018)
Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 333 963
Derivative Liabilities $ (318) $ (935)
Level 3 | Natural gas | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU (1.69) (1.91)
Level 3 | Natural gas | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU 4.79 39.94
Level 3 | Natural gas | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU 0.01 0.18
Level 3 | Electricity | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (17.56) (29.41)
Level 3 | Electricity | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh 12.03 15.00
Level 3 | Electricity | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (4.15) (3.04)
Recurring | Level 3    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 285 $ 390
Recurring | Level 3 | Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 158 135
Derivative Liabilities (186) (390)
Recurring | Level 3 | Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 110 243
Derivative Liabilities $ (106) $ (276)
v3.23.3
Fair Value (Fair Value of Financial Instruments) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Carrying amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable $ 141 $ 80
Short-term borrowings 1,217 1,162
Notes payable 20 18
Long-term debt 19,123 17,978
Carrying amount | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 16 17
Notes payable 20 17
Long-term debt 10,865 9,696
Carrying amount | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 0 27
Carrying amount | DTE Electric | Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 656 568
Fair value | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 0 0
Notes payable 0 0
Long-term debt 742 710
Fair value | Level 1 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Notes payable 0 0
Long-term debt 0 0
Fair value | Level 1 | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 0 0
Fair value | Level 1 | DTE Electric | Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 0 0
Fair value | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 1,217 1,162
Notes payable 0 0
Long-term debt 14,875 14,084
Fair value | Level 2 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Notes payable 0 0
Long-term debt 8,994 8,289
Fair value | Level 2 | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 0 0
Fair value | Level 2 | DTE Electric | Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 656 568
Fair value | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 141 82
Short-term borrowings 0 0
Notes payable 20 18
Long-term debt 934 1,199
Fair value | Level 3 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 16 17
Notes payable 20 17
Long-term debt 126 128
Fair value | Level 3 | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 0 27
Fair value | Level 3 | DTE Electric | Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings $ 0 $ 0
v3.23.3
Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds $ 1,913 $ 1,825
DTE Electric    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 1,913 1,825
DTE Electric | Nuclear decommissioning trust fund    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 1,913 1,825
DTE Electric | Nuclear decommissioning trust fund | Fermi 2    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 1,898 1,807
DTE Electric | Nuclear decommissioning trust fund | Fermi 1    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 3 3
DTE Electric | Nuclear decommissioning trust fund | Low-level radioactive waste    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds $ 12 $ 15
v3.23.3
Fair Value (Gains and Losses and Proceeds from the Sale of Securities by the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - Nuclear decommissioning trust fund - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Debt Securities, Available-for-sale [Line Items]        
Realized gains $ 5 $ 19 $ 24 $ 65
Realized losses (6) (19) (32) (42)
Proceeds from sale of securities $ 104 $ 194 $ 527 $ 707
v3.23.3
Fair Value (Fair Value and Unrealized Gains and Losses for the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]    
Fair Value $ 1,913 $ 1,825
Unrealized Gains 467 406
Unrealized Losses (93) (102)
Cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 39 42
Unrealized Gains 0 0
Unrealized Losses 0 0
Private equity and other    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 308 262
Unrealized Gains 76 63
Unrealized Losses (7) (5)
Hedge funds and similar investments    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 172 119
Unrealized Gains 3 0
Unrealized Losses (14) (18)
Equity securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 852 839
Unrealized Gains 388 342
Unrealized Losses (19) (23)
Fixed income securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 542 563
Unrealized Gains 0 1
Unrealized Losses $ (53) $ (56)
v3.23.3
Fair Value (Fair Value of Fixed Income Securities Held in Nuclear Decommissioning Trust Funds (Details) - Fixed income securities - Nuclear decommissioning trust fund
$ in Millions
Sep. 30, 2023
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due within one year $ 7
Due after one through five years 105
Due after five through ten years 86
Due after ten years 253
Fixed income securities total $ 451
v3.23.3
Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 968 $ 1,922
Derivative Liabilities (970) (2,169)
Current derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 733 1,517
Current derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (657) (1,535)
Noncurrent derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 235 405
Noncurrent derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (313) (634)
Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 22 1
Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1 1
Derivative Liabilities (1) (2)
Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 441 744
Derivative Liabilities (476) (1,018)
Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 333 963
Derivative Liabilities (318) (935)
Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 171 213
Derivative Liabilities (175) (214)
Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative Assets 22 1
Derivative Liabilities (1) (2)
Derivatives designated as hedging instruments | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 22 1
Derivative Liabilities 0 0
Derivatives designated as hedging instruments | Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0 0
Derivative Liabilities (1) (2)
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative Assets 946 1,921
Derivative Liabilities (969) (2,167)
Derivatives not designated as hedging instruments | Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1 1
Derivative Liabilities 0 0
Derivatives not designated as hedging instruments | Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 441 744
Derivative Liabilities (476) (1,018)
Derivatives not designated as hedging instruments | Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 333 963
Derivative Liabilities (318) (935)
Derivatives not designated as hedging instruments | Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 171 213
Derivative Liabilities (175) (214)
Derivatives not designated as hedging instruments | FTRs | Other current assets | DTE Electric    
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 10 $ 11
v3.23.3
Financial and Other Derivative Instruments (Details Textuals) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Letters of credit that could be used to offset net derivative liabilities $ 1 $ 81
Letters of credit received that could be used to offset net derivative assets 18 $ 82
Contractual obligation to post collateral in event of downgrade to below investment grade 437  
Derivative net liability position aggregate fair value 761  
Collateral already posted fair value 12  
Derivative net asset position, fair value 632  
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions $ 117  
v3.23.3
Financial and Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Cash collateral netted against Derivative assets $ 0 $ (90)
Cash collateral netted against Derivative liabilities 12 113
Cash collateral recorded in Accounts receivable 52 77
Cash collateral recorded in Accounts payable (15) (27)
Total net cash collateral posted (received) $ 49 $ 73
v3.23.3
Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilities) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) $ 968 $ 1,922
Gross Amounts Offset in the Consolidated Statements of Financial Position (659) (1,489)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 309 433
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (970) (2,169)
Gross Amounts Offset in the Consolidated Statements of Financial Position 671 1,512
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (299) (657)
Natural gas    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 441 744
Gross Amounts Offset in the Consolidated Statements of Financial Position (299) (649)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 142 95
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (476) (1,018)
Gross Amounts Offset in the Consolidated Statements of Financial Position 301 645
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (175) (373)
Electricity    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 333 963
Gross Amounts Offset in the Consolidated Statements of Financial Position (198) (643)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 135 320
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (318) (935)
Gross Amounts Offset in the Consolidated Statements of Financial Position 208 665
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (110) (270)
Environmental & Other    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 171 213
Gross Amounts Offset in the Consolidated Statements of Financial Position (162) (196)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 9 17
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (175) (214)
Gross Amounts Offset in the Consolidated Statements of Financial Position 162 201
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (13) (13)
Interest rate contracts    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 22 1
Gross Amounts Offset in the Consolidated Statements of Financial Position 0 0
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 22 1
Foreign currency exchange contracts    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 1 1
Gross Amounts Offset in the Consolidated Statements of Financial Position 0 (1)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 1 0
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (1) (2)
Gross Amounts Offset in the Consolidated Statements of Financial Position 0 1
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position $ (1) $ (1)
v3.23.3
Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Derivative Assets    
Derivative Assets $ 968 $ 1,922
Collateral adjustment 0 (90)
Derivative assets, current 228 328
Derivative assets, noncurrent 81 105
Derivative Liabilities    
Derivative Liabilities (970) (2,169)
Collateral adjustment 12 113
Derivative liabilities, current (145) (342)
Derivative liabilities, noncurrent (154) (315)
Current derivative assets    
Derivative Assets    
Derivative Assets 733 1,517
Counterparty netting (505) (1,127)
Collateral adjustment 0 (62)
Noncurrent derivative assets    
Derivative Assets    
Derivative Assets 235 405
Counterparty netting (154) (272)
Collateral adjustment 0 (28)
Current derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (657) (1,535)
Counterparty netting 505 1,127
Collateral adjustment 7 66
Noncurrent derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (313) (634)
Counterparty netting 154 272
Collateral adjustment $ 5 $ 47
v3.23.3
Financial and Other Derivative Instruments (Effect of Derivatives not Designated as Hedging Instruments on the Consolidated Statement of Operations) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives $ 78 $ 119 $ 234 $ (114)
Natural gas | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives (41) (52) 89 (315)
Natural gas | Fuel, purchased power, gas, and other — non-utility        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives 37 108 120 8
Electricity | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives 85 61 30 173
Environmental & Other | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives (4) (3) (5) 15
Foreign currency exchange contracts | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives $ 1 $ 5 $ 0 $ 5
v3.23.3
Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details) - 9 months ended Sep. 30, 2023
CAD ($)
MWh
MMBTU
T
gal
USD ($)
Natural gas (MMBtu)    
Derivative [Line Items]    
Commodity, energy measures | MMBTU 2,208,451,991  
Electricity (MWh)    
Derivative [Line Items]    
Commodity, energy measures 37,535,900  
Oil (Gallons)    
Derivative [Line Items]    
Commodity, volume measure | gal 4,740,000  
Foreign currency exchange ($ CAD)    
Derivative [Line Items]    
Commodity, monetary measure | $ $ 150,049,286  
FTR (MWh)    
Derivative [Line Items]    
Commodity, energy measures 98,119  
Renewable Energy Certificates (MWh)    
Derivative [Line Items]    
Commodity, energy measures 10,856,311  
Carbon emissions (Metric Tons)    
Derivative [Line Items]    
Commodity, mass measure | T 1,652,108  
Interest rate contracts ($ USD)    
Derivative [Line Items]    
Commodity, monetary measure | $   $ 500,000,000
v3.23.3
Long-Term Debt (Schedule of Issued Debt) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Jun. 30, 2023
May 31, 2023
Mar. 31, 2023
Debt Instrument [Line Items]        
Amount $ 2,300      
Unsecured term loan | June 2022 Unsecured Term Loan        
Debt Instrument [Line Items]        
Amount       $ 200
Senior Notes | May 2023 4.875% Senior Notes        
Debt Instrument [Line Items]        
Interest rate     4.875%  
Amount     $ 800  
DTE Electric | Mortgage Bonds | March 2023 5.20% Mortgage Bonds        
Debt Instrument [Line Items]        
Interest rate       5.20%
Amount       $ 600
DTE Electric | Mortgage Bonds | March 2023 5.40% Mortgage Bonds        
Debt Instrument [Line Items]        
Interest rate       5.40%
Amount       $ 600
DTE Electric | Tax-Exempt Revenue Bonds | June 2023 3.875% Tax-Exempt Revenue Bonds        
Debt Instrument [Line Items]        
Interest rate   3.875%    
Amount   $ 100    
v3.23.3
Long-Term Debt (Details Textuals)
 1 Months Ended 3 Months Ended 9 Months Ended
Oct. 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
May 31, 2023
USD ($)
Jun. 30, 2022
USD ($)
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Nov. 01, 2023
USD ($)
tranche
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Debt Instrument [Line Items]                    
Current portion of long-term debt           $ 594,000,000       $ 1,124,000,000
Face amount issued           2,300,000,000        
Retirement of debt           1,146,000,000 $ 316,000,000      
DTE Electric                    
Debt Instrument [Line Items]                    
Current portion of long-term debt           542,000,000       $ 248,000,000
Retirement of debt           $ 121,000,000 $ 316,000,000      
DTE Electric | Forecast                    
Debt Instrument [Line Items]                    
Retirement of debt         $ 300,000,000          
DTE Electric | Forecast | Parent                    
Debt Instrument [Line Items]                    
Payment of special dividend         $ 300,000,000          
Unsecured term loan | June 2022 Unsecured Term Loan                    
Debt Instrument [Line Items]                    
Unused loan capacity       $ 1,125,000,000            
Current portion of long-term debt                 $ 1,000,000,000  
Unused loan capacity terminated   $ 125,000,000                
Face amount issued                 $ 200,000,000  
Retirement of debt   $ 200,000,000 $ 800,000,000              
Unsecured term loan | June 2022 Unsecured Term Loan | SOFR                    
Debt Instrument [Line Items]                    
Basis spread on variable rate       0.90%            
Mortgage Bonds | 5.57% First Mortgage Bonds due in 2030 | DTE Gas | Subsequent Event                    
Debt Instrument [Line Items]                    
Face amount issued $ 150,000,000                  
Interest rate 5.57%                  
Mortgage Bonds | 5.73% First Mortgage Bonds due in 2035 | DTE Gas | Subsequent Event                    
Debt Instrument [Line Items]                    
Face amount issued $ 145,000,000                  
Interest rate 5.73%                  
Senior Notes | 5.19% 2005 Series C Senior Notes | DTE Electric | Subsequent Event                    
Debt Instrument [Line Items]                    
Interest rate 5.19%                  
Retirement of debt $ 100,000,000                  
Securitization Bonds | DTE Electric | Subsequent Event                    
Debt Instrument [Line Items]                    
Face amount issued               $ 602,000,000    
Number of tranches | tranche               2    
Securitization Bonds | 5.97% Securitization Bonds due in 2033 | DTE Electric | Subsequent Event                    
Debt Instrument [Line Items]                    
Face amount issued               $ 301,000,000    
Interest rate               5.97%    
Securitization Bonds | 6.09% Securitization Bonds due in 2038 | DTE Electric | Subsequent Event                    
Debt Instrument [Line Items]                    
Face amount issued               $ 301,000,000    
Interest rate               6.09%    
v3.23.3
Long-Term Debt (Schedule of Debt Redeemed) (Details) - USD ($)
$ in Millions
 1 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
May 31, 2023
Apr. 30, 2023
Sep. 30, 2023
Sep. 30, 2022
Debt Instrument, Redemption [Line Items]            
Amount         $ 1,146 $ 316
Term Loan Facility | June 2022 Unsecured Term Loan            
Debt Instrument, Redemption [Line Items]            
Amount   $ 200 $ 800      
DTE Gas | Senior Notes | 2008 Series C 6.44% Senior Notes            
Debt Instrument, Redemption [Line Items]            
Interest rate       6.44%    
Amount       $ 25    
DTE Electric            
Debt Instrument, Redemption [Line Items]            
Amount         $ 121 $ 316
DTE Electric | Securitization Bonds | 2.64% Securitization Bonds            
Debt Instrument, Redemption [Line Items]            
Interest rate   2.64%        
Amount   $ 19        
DTE Electric | Mortgage Bonds | 4.31% Mortgage Bonds            
Debt Instrument, Redemption [Line Items]            
Interest rate 4.31%       4.31%  
Amount $ 102          
v3.23.3
Short-Term Credit Arrangements and Borrowings (Details Textuals)
Sep. 30, 2023
USD ($)
Jul. 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Short-term Debt [Line Items]        
Maximum borrowing capacity $ 3,175,000,000      
DTE Electric        
Short-term Debt [Line Items]        
Maximum borrowing capacity $ 900,000,000      
Ratio of indebtedness to net capital 0.54      
DTE Gas        
Short-term Debt [Line Items]        
Maximum borrowing capacity $ 300,000,000      
Ratio of indebtedness to net capital 0.46      
Maximum | DTE Electric        
Short-term Debt [Line Items]        
Ratio of indebtedness to net capital 0.65      
Maximum | DTE Gas        
Short-term Debt [Line Items]        
Ratio of indebtedness to net capital 0.65      
$100 million uncommitted letter of credit facility | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity $ 100,000,000   $ 100,000,000  
$100 million uncommitted letter of credit facility | DTE Electric | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity 100,000,000      
$100 million uncommitted letter of credit facility | DTE Gas | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity 0      
$50 million uncommitted letter of credit facility | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity 50,000,000      
$50 million uncommitted letter of credit facility | DTE Electric | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity 0      
$50 million uncommitted letter of credit facility | DTE Gas | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity 0      
DTE Energy        
Short-term Debt [Line Items]        
Maximum borrowing capacity $ 1,975,000,000      
Ratio of indebtedness to net capital 0.64      
DTE Energy | Demand financing agreement        
Short-term Debt [Line Items]        
Maximum borrowing capacity, financing agreement $ 200,000,000      
Amount outstanding $ 139,000,000     $ 166,000,000
DTE Energy | Maximum        
Short-term Debt [Line Items]        
Ratio of indebtedness to net capital 0.70      
DTE Energy | DTE Energy Revolver | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity $ 500,000,000      
DTE Energy | $100 million uncommitted letter of credit facility | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity 0      
DTE Energy | $50 million uncommitted letter of credit facility | Letters of credit        
Short-term Debt [Line Items]        
Maximum borrowing capacity $ 50,000,000 $ 50,000,000    
v3.23.3
Short-Term Credit Arrangements and Borrowings (Details) - USD ($)
Sep. 30, 2023
Jul. 31, 2023
Jun. 30, 2023
Availability under combined facilities      
Maximum borrowing capacity $ 3,175,000,000    
Amounts outstanding 1,384,000,000    
Net availability 1,791,000,000    
DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 900,000,000    
Amounts outstanding 679,000,000    
Net availability 221,000,000    
DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 300,000,000    
Amounts outstanding 190,000,000    
Net availability 110,000,000    
DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 1,975,000,000    
Amounts outstanding 515,000,000    
Net availability 1,460,000,000    
Commercial paper issuances      
Availability under combined facilities      
Amounts outstanding 1,217,000,000    
Commercial paper issuances | DTE Electric      
Availability under combined facilities      
Amounts outstanding 656,000,000    
Commercial paper issuances | DTE Gas      
Availability under combined facilities      
Amounts outstanding 190,000,000    
Commercial paper issuances | DTE Energy      
Availability under combined facilities      
Amounts outstanding 371,000,000    
Letters of credit      
Availability under combined facilities      
Amounts outstanding 167,000,000    
Letters of credit | DTE Electric      
Availability under combined facilities      
Amounts outstanding 23,000,000    
Letters of credit | DTE Gas      
Availability under combined facilities      
Amounts outstanding 0    
Letters of credit | DTE Energy      
Availability under combined facilities      
Amounts outstanding 144,000,000    
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings      
Availability under combined facilities      
Maximum borrowing capacity 2,600,000,000    
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 800,000,000    
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 300,000,000    
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 1,500,000,000    
Unsecured letter of credit facility, expiring June 2024 | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 175,000,000    
Unsecured letter of credit facility, expiring June 2024 | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring June 2024 | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring June 2024 | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 175,000,000    
Unsecured letter of credit facility, expiring February 2025 | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 150,000,000    
Unsecured letter of credit facility, expiring February 2025 | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring February 2025 | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility, expiring February 2025 | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 150,000,000    
Unsecured letter of credit facility | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 100,000,000    
Unsecured letter of credit facility | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 100,000,000    
Unsecured letter of credit facility | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 100,000,000   $ 100,000,000
Unsecured letter of credit facility | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 100,000,000    
Unsecured letter of credit facility | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit      
Availability under combined facilities      
Maximum borrowing capacity 50,000,000    
Unsecured letter of credit facility | Letters of credit | DTE Electric      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit | DTE Gas      
Availability under combined facilities      
Maximum borrowing capacity 0    
Unsecured letter of credit facility | Letters of credit | DTE Energy      
Availability under combined facilities      
Maximum borrowing capacity $ 50,000,000 $ 50,000,000  
v3.23.3
Leases (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Leases [Abstract]        
Interest income recognized under finance leases $ 6 $ 6 $ 20 $ 17
v3.23.3
Leases (Lease Income Associated with Operating Leases) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Leases [Abstract]        
Fixed payments $ 4 $ 3 $ 11 $ 11
Variable payments 15 21 33 52
Total lease income under operating leases $ 19 $ 24 $ 44 $ 63
v3.23.3
Commitments and Contingencies (Details Textuals)
 1 Months Ended 9 Months Ended
Jun. 30, 2022
USD ($)
Sep. 30, 2023
USD ($)
employee
site
facility
Dec. 31, 2022
USD ($)
Loss Contingencies [Line Items]      
Estimated capital expenditures for current fiscal year   $ 4,200,000,000  
Workforce subject to collective bargaining arrangements | Labor force concentration risk      
Loss Contingencies [Line Items]      
Number of employees | employee   4,950  
Percentage of total employees   49.00%  
Workforce subject to collective bargaining arrangements expiring within one year | Labor force concentration risk      
Loss Contingencies [Line Items]      
Percentage of total employees   1.00%  
Reduced emissions fuel guarantees      
Loss Contingencies [Line Items]      
Number of days after expiration of statutes of limitations   90 days  
Maximum potential liability   $ 414,000,000  
Other guarantees      
Loss Contingencies [Line Items]      
Maximum potential liability   40,000,000  
Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   325,000,000  
Performance surety bonds | Energy Trading      
Loss Contingencies [Line Items]      
Performance bonds outstanding   $ 130,000,000  
Performance surety bonds | Minimum | Energy Trading      
Loss Contingencies [Line Items]      
Performance bonds term   1 year  
Performance surety bonds | Maximum | Energy Trading      
Loss Contingencies [Line Items]      
Performance bonds term   3 years  
DTE Electric      
Loss Contingencies [Line Items]      
Environmental capital expenditures   $ 2,400,000,000  
Estimated environmental capital expenditures   $ 0  
Number of former MGP sites | site   3  
Accrued for remediation   $ 9,000,000 $ 10,000,000
Number of permitted engineered ash storage facilities owned | facility   3  
Estimated capital expenditures for current fiscal year   $ 3,200,000,000  
DTE Electric | Ludington Plant Contract Dispute | Pending litigation      
Loss Contingencies [Line Items]      
Damages sought, percentage liable 49.00%    
DTE Electric | Workforce subject to collective bargaining arrangements | Labor force concentration risk      
Loss Contingencies [Line Items]      
Number of employees | employee   2,550  
Percentage of total employees   57.00%  
DTE Electric | Workforce subject to collective bargaining arrangements expiring within one year | Labor force concentration risk      
Loss Contingencies [Line Items]      
Percentage of total employees   1.00%  
DTE Electric | Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   $ 151,000,000  
DTE Electric | Coal Combustion Residual And Effluent Limitations Guidelines Rules      
Loss Contingencies [Line Items]      
Estimated impact of the CCR and ELG rules   481,000,000  
Estimated impact of the CCR and ELG rules through 2027   $ 343,000,000  
DTE Gas      
Loss Contingencies [Line Items]      
Number of former MGP sites | site   14  
Accrued for remediation   $ 20,000,000 $ 23,000,000
Amortization period (in years)   10 years  
DTE Gas | Clean up completed and site closed      
Loss Contingencies [Line Items]      
Number of former MGP sites | site   8  
DTE Gas | Partial closure complete      
Loss Contingencies [Line Items]      
Number of former MGP sites | site   4  
TAES and Toshiba Corporation | Ludington Plant Contract Dispute | DTE Electric and Consumers | Pending litigation      
Loss Contingencies [Line Items]      
Damages sought $ 15,000,000    
v3.23.3
Retirement Benefits and Trusteed Assets (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Pension Benefits        
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 15 $ 25 $ 43 $ 72
Interest cost 54 41 161 124
Expected return on plan assets (89) (87) (264) (260)
Amortization of net actuarial loss 2 29 5 86
Amortization of prior service credit (1) 0 (2) 0
Settlements     7 0
Net periodic benefit cost (credit) (19) 8 (50) 22
Pension Benefits | DTE Electric        
Defined Benefit Plan Disclosure [Line Items]        
Net periodic benefit cost (credit) (12) 9 (28) 27
Other Postretirement Benefits        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 4 6 13 20
Interest cost 17 12 49 36
Expected return on plan assets (28) (32) (83) (95)
Amortization of net actuarial loss 2 1 7 3
Amortization of prior service credit (4) (4) (14) (14)
Settlements     0 0
Net periodic benefit cost (credit) (9) (17) (28) (50)
Other Postretirement Benefits | DTE Electric        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 3 5 10 15
Interest cost 12 10 37 28
Expected return on plan assets (18) (22) (55) (64)
Amortization of net actuarial loss 0 2 0 4
Amortization of prior service credit (3) (4) (10) (10)
Net periodic benefit cost (credit) $ (6) $ (9) $ (18) $ (27)
v3.23.3
Retirement Benefits and Trusteed Assets (Details Textuals) - USD ($)
 3 Months Ended 9 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Pension plans          
Defined Benefit Plan Disclosure [Line Items]          
Pension cost (credit)   $ (19,000,000) $ 8,000,000 $ (50,000,000) $ 22,000,000
Pension plans | Qualified Plan          
Defined Benefit Plan Disclosure [Line Items]          
Anticipated contributions, current fiscal year   0   0  
Postretirement benefit plans          
Defined Benefit Plan Disclosure [Line Items]          
Pension cost (credit)   (9,000,000) (17,000,000) (28,000,000) (50,000,000)
Anticipated contributions, current fiscal year   0   0  
DTE Electric | Pension plans          
Defined Benefit Plan Disclosure [Line Items]          
Pension cost (credit)   (12,000,000) 9,000,000 (28,000,000) 27,000,000
DTE Electric | Pension plans | Qualified Plan | Maximum | Forecast          
Defined Benefit Plan Disclosure [Line Items]          
Pension funds transferred to (from) plan $ 50,000,000        
DTE Electric | Postretirement benefit plans          
Defined Benefit Plan Disclosure [Line Items]          
Pension cost (credit)   $ (6,000,000) $ (9,000,000) $ (18,000,000) $ (27,000,000)
DTE Gas | Pension plans | Qualified Plan | Maximum | Forecast          
Defined Benefit Plan Disclosure [Line Items]          
Pension funds transferred to (from) plan $ (50,000,000)        
v3.23.3
Segment and Related Information (Details Textuals)
customer in Millions
Sep. 30, 2023
customer
Segment Reporting [Abstract]  
Number of electric utility customers 2.3
Number of gas utility customers 1.3
v3.23.3
Segment and Related Information (Financial Data - Inter-segment Billing) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Segment Reporting Information [Line Items]        
Operating Revenues $ (2,888) $ (5,251) $ (9,351) $ (14,752)
Reconciliation and Eliminations        
Segment Reporting Information [Line Items]        
Operating Revenues 57 77 165 198
Reconciliation and Eliminations | Electric        
Segment Reporting Information [Line Items]        
Operating Revenues 20 19 55 53
Reconciliation and Eliminations | Gas        
Segment Reporting Information [Line Items]        
Operating Revenues 4 4 13 10
Reconciliation and Eliminations | DTE Vantage        
Segment Reporting Information [Line Items]        
Operating Revenues 13 15 32 57
Reconciliation and Eliminations | Energy Trading        
Segment Reporting Information [Line Items]        
Operating Revenues 20 39 65 78
Reconciliation and Eliminations | Corporate and Other        
Segment Reporting Information [Line Items]        
Operating Revenues $ 0 $ 0 $ 0 $ 0
v3.23.3
Segment and Related Information (Financial Data - Operating Revenues including Inter-segment Revenues) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations $ 1,827 $ 2,053 $ 5,504 $ 6,196
Operating Revenues — Non-utility operations 1,061 3,198 3,847 8,556
Operating Revenues 2,888 5,251 9,351 14,752
Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations (57) (77) (165) (198)
Operating Revenues (57) (77) (165) (198)
Electric | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations 1,623 1,844 4,324 4,896
Operating Revenues — Non-utility operations 3 3 10 11
Operating Revenues 1,626 1,847 4,334 4,907
Electric | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (20) (19) (55) (53)
Gas | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations 227 230 1,245 1,358
Operating Revenues 227 230 1,245 1,358
Gas | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (4) (4) (13) (10)
DTE Vantage | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 199 227 572 626
Operating Revenues 199 227 572 626
DTE Vantage | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (13) (15) (32) (57)
Energy Trading | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 893 3,024 3,365 8,059
Operating Revenues 893 3,024 3,365 8,059
Energy Trading | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (20) (39) (65) (78)
Corporate and Other | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 0 0 0 0
Corporate and Other | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues $ 0 $ 0 $ 0 $ 0
v3.23.3
Segment and Related Information (Financial Data - Net Income (Loss) Attributable to DTE Energy by Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income Attributable to DTE Energy Company $ 332 $ 387 $ 978 $ 818
Electric        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income Attributable to DTE Energy Company 268 363 547 750
Gas        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income Attributable to DTE Energy Company (5) (23) 190 179
DTE Vantage        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income Attributable to DTE Energy Company 56 26 109 68
Energy Trading        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income Attributable to DTE Energy Company 65 56 234 (80)
Corporate and Other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income Attributable to DTE Energy Company $ (52) $ (35) $ (102) $ (99)