DTE ELECTRIC CO, 10-Q filed on 10/24/2024
Quarterly Report
v3.24.3
Cover
 9 Months Ended
Sep. 30, 2024
shares
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Sep. 30, 2024
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 207,100,586
Entity Central Index Key 0000936340
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2024
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
v3.24.3
Consolidated Statements of Operations (Unaudited) - DTE Energy Company - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating Revenues        
Utility operations $ 1,903 $ 1,827 $ 5,938 $ 5,504
Non-utility operations 1,003 1,061 3,083 3,847
Operating Revenues 2,906 2,888 9,021 9,351
Operating Expenses        
Fuel, purchased power, and gas — utility 453 435 1,488 1,364
Fuel, purchased power, gas, and other — non-utility 832 864 2,666 3,226
Operation and maintenance 547 545 1,680 1,650
Depreciation and amortization 438 404 1,288 1,185
Taxes other than income 119 114 364 350
Asset (gains) losses and impairments, net 0 (12) (1) (11)
Operating Expenses 2,389 2,350 7,485 7,764
Operating Income 517 538 1,536 1,587
Other (Income) and Deductions        
Interest expense 252 200 703 583
Interest income (48) (15) (102) (45)
Non-operating retirement benefits, net 0 1 0 9
Other income (54) (13) (146) (70)
Other expenses 11 11 33 26
Other (Income) and Deductions 161 184 488 503
Income Before Income Taxes 356 354 1,048 1,084
Income Tax Expense (Benefit) (121) 22 (64) 106
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 477 $ 332 $ 1,112 $ 978
Basic Earnings per Common Share        
Net Income Attributable to DTE Energy Company (in dollars per share) $ 2.30 $ 1.61 $ 5.37 $ 4.74
Diluted Earnings per Common Share        
Net Income Attributable to DTE Energy Company (in dollars per share) $ 2.30 $ 1.61 $ 5.36 $ 4.74
Weighted Average Common Shares Outstanding        
Basic (in shares) 207 206 207 206
Diluted (in shares) 207 206 207 206
v3.24.3
Consolidated Statements of Comprehensive Income (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net Income $ 477 $ 332 $ 1,112 $ 978
Other comprehensive income (loss), net of tax:        
Benefit obligations, net of taxes of $—, $—, $1, and $1, respectively 1 1 3 2
Net unrealized gains (losses) on derivatives, net of taxes of $(4), $4, $8, and $5, respectively (14) 15 24 17
Foreign currency translation 1 (3) (2) (1)
Other comprehensive income (loss) (12) 13 25 18
Comprehensive Income $ 465 $ 345 $ 1,137 $ 996
v3.24.3
Consolidated Statements of Comprehensive Income (Unaudited) - DTE Energy Company (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Tax effect on benefit obligations $ 0 $ 0 $ 1 $ 1
Tax effect on net unrealized losses on derivatives during the period $ (4) $ 4 $ 8 $ 5
v3.24.3
Consolidated Statements of Financial Position (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 969 $ 26
Restricted cash 54 25
Accounts receivable (less allowance for doubtful accounts of $82 and $63, respectively)    
Accounts receivable 1,407 1,632
Other 206 155
Inventories    
Fuel and gas 493 421
Materials, supplies, and other 898 633
Derivative assets 159 297
Regulatory assets 14 108
Current investments 1,071 0
Other 346 242
Total Current Assets 5,617 3,539
Investments    
Nuclear decommissioning trust funds 2,261 2,041
Investments in equity method investees 135 166
Other long-term investments 176 168
Total Investments 2,572 2,375
Property    
Property, plant, and equipment 39,916 37,274
Accumulated depreciation and amortization (9,848) (9,105)
Total Property 30,068 28,169
Other Assets    
Goodwill 1,993 1,993
Regulatory assets 6,622 6,209
Securitized regulatory assets 707 758
Intangible assets 148 156
Notes receivable 852 420
Derivative assets 69 109
Prepaid postretirement costs 684 633
Operating lease right-of-use assets 178 132
Other 296 262
Total Other Assets 11,549 10,672
Total Assets 49,806 44,755
Current Liabilities    
Accounts payable 1,290 1,361
Accrued interest 259 170
Dividends payable 211 210
Short-term borrowings 966 1,283
Current portion long-term debt, including securitization bonds and finance leases 3,201 2,142
Derivative liabilities 94 177
Regulatory liabilities 179 71
Operating lease liabilities 18 17
Other 569 452
Total Current Liabilities 6,787 5,883
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 18,900 15,819
Securitization bonds 656 705
Junior subordinated debentures 884 883
Finance lease liabilities 18 13
Total Long-Term Debt (net of current portion) 20,458 17,420
Other Liabilities    
Deferred income taxes 2,748 2,649
Regulatory liabilities 2,665 2,603
Asset retirement obligations 3,899 3,556
Unamortized investment tax credit 277 181
Derivative liabilities 80 132
Accrued pension liability 286 350
Accrued postretirement liability 301 301
Nuclear decommissioning 354 320
Operating lease liabilities 159 108
Other 194 197
Total Other Liabilities 10,963 10,397
Commitments and Contingencies (Notes 4 and 11)
Equity    
Common stock (No par value, 400,000,000 shares authorized, and 207,100,586 and 206,357,070 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively) 6,754 6,713
Retained earnings 4,880 4,404
Accumulated other comprehensive loss (42) (67)
Total DTE Energy/DTE Electric Company Equity 11,592 11,050
Noncontrolling interests 6 5
Total Equity 11,598 11,055
Total Liabilities and Equity $ 49,806 $ 44,755
v3.24.3
Consolidated Statements of Financial Position (Unaudited) - DTE Energy Company (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current Assets    
Allowance for doubtful accounts $ 82 $ 63
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 207,100,586 206,357,070
Common stock, shares outstanding (in shares) 207,100,586 206,357,070
v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net Income $ 1,112 $ 978
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 1,288 1,185
Nuclear fuel amortization 38 43
Allowance for equity funds used during construction (62) (26)
Deferred income taxes 16 119
Equity (earnings) of equity method investees (36) (7)
Dividends from equity method investees 2 3
Asset (gains) losses and impairments, net (1) (11)
Changes in assets and liabilities:    
Accounts receivable, net 174 614
Inventories (337) (170)
Prepaid postretirement benefit costs (51) (45)
Accounts payable (89) (438)
Accrued pension liability (64) (59)
Accrued postretirement liability 0 1
Derivative assets and liabilities 43 (234)
Regulatory assets and liabilities 505 509
Other current and noncurrent assets and liabilities 21 (87)
Net cash from operating activities 2,559 2,375
Investing Activities    
Plant and equipment expenditures — utility (3,170) (2,772)
Plant and equipment expenditures — non-utility (50) (41)
Proceeds from sale of assets 46 0
Proceeds from sale of nuclear decommissioning trust fund assets 438 527
Investment in nuclear decommissioning trust funds (440) (524)
Distributions from equity method investees 20 16
Contributions to equity method investees (4) (27)
Notes receivable (443) (56)
Investment in time deposits (1,050) 0
Other (60) (64)
Net cash used for investing activities (4,713) (2,941)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 4,215 2,278
Redemption of long-term debt (143) (1,146)
Short-term borrowings, net (317) 55
Dividends paid on common stock (607) (564)
Other (22) (34)
Net cash from financing activities 3,126 589
Net Increase in Cash, Cash Equivalents, and Restricted Cash 972 23
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 51 43
Cash, Cash Equivalents, and Restricted Cash at End of Period 1,023 66
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable $ 503 $ 401
v3.24.3
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, 2022   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 and other (in shares)   401,000      
Stock-based compensation 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   205,632,000      
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   206,259,000      
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 and other (in shares)   (9,000)      
Stock-based compensation and other 15 $ 16 (1)    
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 and other (in shares)   8,000      
Stock-based compensation and other 15 $ 12 3    
Ending Balance (in shares) at Sep. 30, 2023   206,259,000      
Ending Balance at Sep. 30, 2023 $ 10,854 $ 6,697 4,197 (44) 4
Beginning Balance (in shares) at Dec. 31, 2023 206,357,070 206,357,000      
Beginning Balance at Dec. 31, 2023 $ 11,055 $ 6,713 4,404 (67) 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 313   313    
Dividends declared on common stock (211)   (211)    
Issuance of common stock (in shares)   84,000      
Issuance of common stock 9 $ 9      
Other comprehensive income (loss), net of tax 25     25  
Stock-based compensation and other (in shares)   496,000      
Stock-based compensation and other (13) $ (12) (1)    
Ending Balance (in shares) at Mar. 31, 2024   206,937,000      
Ending Balance at Mar. 31, 2024 $ 11,178 $ 6,710 4,505 (42) 5
Beginning Balance (in shares) at Dec. 31, 2023 206,357,070 206,357,000      
Beginning Balance at Dec. 31, 2023 $ 11,055 $ 6,713 4,404 (67) 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 1,112        
Other comprehensive income (loss), net of tax $ 25        
Ending Balance (in shares) at Sep. 30, 2024 207,100,586 207,101,000      
Ending Balance at Sep. 30, 2024 $ 11,598 $ 6,754 4,880 (42) 6
Beginning Balance (in shares) at Mar. 31, 2024   206,937,000      
Beginning Balance at Mar. 31, 2024 11,178 $ 6,710 4,505 (42) 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 322   322    
Dividends declared on common stock (422)   (422)    
Issuance of common stock (in shares)   83,000      
Issuance of common stock 9 $ 9      
Other comprehensive income (loss), net of tax 12     12  
Stock-based compensation and other 13 $ 13 (1)   1
Ending Balance (in shares) at Jun. 30, 2024   207,020,000      
Ending Balance at Jun. 30, 2024 11,112 $ 6,732 4,404 (30) 6
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net Income 477   477    
Issuance of common stock (in shares)   75,000      
Issuance of common stock 8 $ 8      
Other comprehensive income (loss), net of tax (12)     (12)  
Stock-based compensation and other (in shares)   6,000      
Stock-based compensation and other $ 13 $ 14 (1)    
Ending Balance (in shares) at Sep. 30, 2024 207,100,586 207,101,000      
Ending Balance at Sep. 30, 2024 $ 11,598 $ 6,754 $ 4,880 $ (42) $ 6
v3.24.3
Consolidated Statements of Changes in Equity (Unaudited) - DTE Energy Company (Parenthetical) - $ / shares
 3 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]        
Dividends declared on common stock (in dollars per share) $ 2.04 $ 1.02 $ 1.91 $ 0.95
v3.24.3
Consolidated Statements of Operations (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating Revenues — Utility operations $ 1,903 $ 1,827 $ 5,938 $ 5,504
Operating Expenses        
Fuel, purchased power, and gas — utility 453 435 1,488 1,364
Taxes other than income 119 114 364 350
Operating Expenses 2,389 2,350 7,485 7,764
Operating Income 517 538 1,536 1,587
Other (Income) and Deductions        
Interest expense 252 200 703 583
Interest income (48) (15) (102) (45)
Non-operating retirement benefits, net 0 1 0 9
Other income (54) (13) (146) (70)
Other expenses 11 11 33 26
Other (Income) and Deductions 161 184 488 503
Income Before Income Taxes 356 354 1,048 1,084
Income Tax Expense (Benefit) (121) 22 (64) 106
Net Income Attributable to DTE Energy Company/DTE Electric Company 477 332 1,112 978
DTE Electric        
Operating Revenues — Utility operations 1,695 1,623 4,772 4,324
Operating Expenses        
Fuel, purchased power, and gas — utility 463 440 1,256 1,120
Operation and maintenance 350 371 1,062 1,099
Depreciation and amortization 360 334 1,063 979
Taxes other than income 90 87 262 255
Operating Expenses 1,263 1,232 3,643 3,453
Operating Income 432 391 1,129 871
Other (Income) and Deductions        
Interest expense 128 114 369 319
Interest income (2) (3) (6) (14)
Non-operating retirement benefits, net (3) (1) (3) (3)
Other income (41) (16) (105) (56)
Other expenses 12 9 33 22
Other (Income) and Deductions 94 103 288 268
Income Before Income Taxes 338 288 841 603
Income Tax Expense (Benefit) (100) 19 (45) 55
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 438 $ 269 $ 886 $ 548
v3.24.3
Consolidated Statements of Comprehensive Income (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net Income $ 477 $ 332 $ 1,112 $ 978
Other comprehensive income (loss) (12) 13 25 18
Comprehensive Income 465 345 1,137 996
DTE Electric        
Net Income 438 269 886 548
Other comprehensive income (loss) 0 0 0 0
Comprehensive Income $ 438 $ 269 $ 886 $ 548
v3.24.3
Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 969 $ 26
Restricted cash 54 25
Accounts receivable (less allowance for doubtful accounts of $53 and $41, respectively)    
Accounts receivable 1,407 1,632
Other 206 155
Inventories    
Fuel 493 421
Materials and supplies 898 633
Regulatory assets 14 108
Other 346 242
Total Current Assets 5,617 3,539
Investments    
Nuclear decommissioning trust funds 2,261 2,041
Other 176 168
Total Investments 2,572 2,375
Property    
Property, plant, and equipment 39,916 37,274
Accumulated depreciation and amortization (9,848) (9,105)
Total Property 30,068 28,169
Other Assets    
Regulatory assets 6,622 6,209
Securitized regulatory assets 707 758
Prepaid postretirement costs — affiliates 684 633
Operating lease right-of-use assets 178 132
Other 296 262
Total Other Assets 11,549 10,672
Total Assets 49,806 44,755
Accounts payable    
Accounts payable 1,290 1,361
Accrued interest 259 170
Current portion long-term debt, including securitization bonds and finance leases 3,201 2,142
Regulatory liabilities 179 71
Short-term borrowings    
Short-term borrowings 966 1,283
Operating lease liabilities 18 17
Other 569 452
Total Current Liabilities 6,787 5,883
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 18,900 15,819
Securitization bonds 656 705
Finance lease liabilities 18 13
Total Long-Term Debt (net of current portion) 20,458 17,420
Other Liabilities    
Deferred income taxes 2,748 2,649
Regulatory liabilities 2,665 2,603
Asset retirement obligations 3,899 3,556
Unamortized investment tax credit 277 181
Nuclear decommissioning 354 320
Accrued pension liability — affiliates 286 350
Accrued postretirement liability — affiliates 301 301
Operating lease liabilities 159 108
Other 194 197
Total Other Liabilities 10,963 10,397
Commitments and Contingencies (Notes 4 and 11)
Equity    
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods) 6,754 6,713
Retained earnings 4,880 4,404
Total DTE Energy/DTE Electric Company Equity 11,592 11,050
Total Liabilities and Equity 49,806 44,755
DTE Electric    
Current Assets    
Cash and cash equivalents 14 15
Restricted cash 40 17
Accounts receivable (less allowance for doubtful accounts of $53 and $41, respectively)    
Other 65 55
Inventories    
Fuel 200 191
Materials and supplies 512 409
Regulatory assets 9 99
Prepaid property tax 145 60
Other 37 54
Total Current Assets 1,915 1,676
Investments    
Nuclear decommissioning trust funds 2,261 2,041
Other 66 53
Total Investments 2,327 2,094
Property    
Property, plant, and equipment 30,030 27,936
Accumulated depreciation and amortization (7,178) (6,570)
Total Property 22,852 21,366
Other Assets    
Regulatory assets 6,019 5,596
Securitized regulatory assets 707 758
Prepaid postretirement costs — affiliates 406 378
Operating lease right-of-use assets 149 101
Other 251 216
Total Other Assets 7,532 7,049
Total Assets 34,626 32,185
Accounts payable    
Accrued interest 124 113
Current portion long-term debt, including securitization bonds and finance leases 424 166
Regulatory liabilities 145 49
Short-term borrowings    
Operating lease liabilities 15 15
Other 176 169
Total Current Liabilities 2,578 1,651
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 10,823 10,174
Securitization bonds 656 705
Finance lease liabilities 8 4
Total Long-Term Debt (net of current portion) 11,487 10,883
Other Liabilities    
Deferred income taxes 3,206 3,109
Regulatory liabilities 1,747 1,710
Asset retirement obligations 3,659 3,326
Unamortized investment tax credit 277 181
Nuclear decommissioning 354 320
Accrued pension liability — affiliates 296 334
Accrued postretirement liability — affiliates 289 290
Operating lease liabilities 133 81
Other 72 76
Total Other Liabilities 10,033 9,427
Commitments and Contingencies (Notes 4 and 11)
Equity    
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods) 7,361 7,361
Retained earnings 3,167 2,863
Total DTE Energy/DTE Electric Company Equity 10,528 10,224
Total Liabilities and Equity 34,626 32,185
DTE Electric | Affiliates    
Accounts receivable (less allowance for doubtful accounts of $53 and $41, respectively)    
Accounts receivable 10 12
Accounts payable    
Accounts payable 63 58
Short-term borrowings    
Short-term borrowings 142 0
DTE Electric | Customer/ Other    
Accounts receivable (less allowance for doubtful accounts of $53 and $41, respectively)    
Accounts receivable 883 764
Accounts payable    
Accounts payable 691 696
Short-term borrowings    
Short-term borrowings $ 798 $ 385
v3.24.3
Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current Assets    
Allowance for doubtful accounts $ 82 $ 63
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 207,100,586 206,357,070
Common stock, shares outstanding (in shares) 207,100,586 206,357,070
DTE Electric    
Current Assets    
Allowance for doubtful accounts $ 53 $ 41
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
v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net Income $ 1,112 $ 978
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 1,288 1,185
Nuclear fuel amortization 38 43
Allowance for equity funds used during construction (62) (26)
Deferred income taxes 16 119
Changes in assets and liabilities:    
Accounts receivable, net 174 614
Inventories (337) (170)
Accounts payable (89) (438)
Regulatory assets and liabilities 505 509
Other current and noncurrent assets and liabilities 21 (87)
Net cash from operating activities 2,559 2,375
Investing Activities    
Proceeds from sale of nuclear decommissioning trust fund assets 438 527
Investment in nuclear decommissioning trust funds (440) (524)
Notes receivable (443) (56)
Net cash used for investing activities (4,713) (2,941)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 4,215 2,278
Redemption of long-term debt (143) (1,146)
Short-term borrowings, net (317) 55
Dividends paid on common stock (607) (564)
Other (22) (34)
Net cash from financing activities 3,126 589
Net Increase in Cash, Cash Equivalents, and Restricted Cash 972 23
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 51 43
Cash, Cash Equivalents, and Restricted Cash at End of Period 1,023 66
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 503 401
DTE Electric    
Operating Activities    
Net Income 886 548
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 1,063 979
Nuclear fuel amortization 38 43
Allowance for equity funds used during construction (60) (25)
Deferred income taxes 32 59
Changes in assets and liabilities:    
Accounts receivable, net (127) (57)
Inventories (112) (89)
Accounts payable 9 (33)
Prepaid postretirement benefit costs — affiliates (28) (26)
Accrued pension liability — affiliates (38) (39)
Accrued postretirement liability — affiliates (1) 2
Regulatory assets and liabilities 432 402
Other current and noncurrent assets and liabilities (228) (183)
Net cash from operating activities 1,866 1,581
Investing Activities    
Plant and equipment expenditures (2,609) (2,215)
Proceeds from sale of nuclear decommissioning trust fund assets 438 527
Investment in nuclear decommissioning trust funds (440) (524)
Notes receivable (41) (30)
Net cash used for investing activities (2,652) (2,242)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 993 1,284
Redemption of long-term debt (143) (121)
Dividends paid on common stock (582) (531)
Other (15) (19)
Net cash from financing activities 808 674
Net Increase in Cash, Cash Equivalents, and Restricted Cash 22 13
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 32 24
Cash, Cash Equivalents, and Restricted Cash at End of Period 54 37
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 394 295
DTE Electric | Affiliates    
Financing Activities    
Short-term borrowings, net 142 (27)
DTE Electric | Other    
Financing Activities    
Short-term borrowings, net $ 413 $ 88
v3.24.3
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, 2022   205,632,000     138,632,000    
Beginning Balance at Dec. 31, 2022       $ 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   205,632,000     138,632,000    
Beginning Balance at Dec. 31, 2022       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   206,259,000     138,632,000    
Ending Balance at Sep. 30, 2023       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   206,259,000     138,632,000    
Ending Balance at Sep. 30, 2023       $ 9,712 $ 1,386 5,216 3,110
Beginning Balance (in shares) at Dec. 31, 2023 206,357,070 206,357,000   138,632,324 138,632,000    
Beginning Balance at Dec. 31, 2023 $ 11,050     $ 10,224 $ 1,386 5,975 2,863
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       170     170
Dividends declared on common stock $ (211)   (211) (194)     (194)
Ending Balance (in shares) at Mar. 31, 2024   206,937,000     138,632,000    
Ending Balance at Mar. 31, 2024       $ 10,200 $ 1,386 5,975 2,839
Beginning Balance (in shares) at Dec. 31, 2023 206,357,070 206,357,000   138,632,324 138,632,000    
Beginning Balance at Dec. 31, 2023 $ 11,050     $ 10,224 $ 1,386 5,975 2,863
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 1,112     $ 886      
Ending Balance (in shares) at Sep. 30, 2024 207,100,586 207,101,000   138,632,324 138,632,000    
Ending Balance at Sep. 30, 2024 $ 11,592     $ 10,528 $ 1,386 5,975 3,167
Beginning Balance (in shares) at Mar. 31, 2024   206,937,000     138,632,000    
Beginning Balance at Mar. 31, 2024       10,200 $ 1,386 5,975 2,839
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income       278     278
Dividends declared on common stock (422)   $ (422) (194)     (194)
Ending Balance (in shares) at Jun. 30, 2024   207,020,000     138,632,000    
Ending Balance at Jun. 30, 2024       10,284 $ 1,386 5,975 2,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net Income $ 477     438     438
Dividends declared on common stock       $ (194)     (194)
Ending Balance (in shares) at Sep. 30, 2024 207,100,586 207,101,000   138,632,324 138,632,000    
Ending Balance at Sep. 30, 2024 $ 11,592     $ 10,528 $ 1,386 $ 5,975 $ 3,167
v3.24.3
Organization and Basis of Presentation
 9 Months Ended
Sep. 30, 2024
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 2023 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, 2024.
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, 2024, 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, 2024, 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.
DTE Electric previously financed regulatory assets for deferred costs related to certain retired generation plants and its tree trimming surge program through the sale of bonds by wholly-owned special purpose entities, DTE Securitization I and DTE Securitization II (collectively "the DTE Securitization entities"). The DTE Securitization entities are VIEs. DTE Electric has the power to direct the most significant activities of these entities, including performing servicing activities such as billing and collecting surcharge revenue. Accordingly, DTE Electric is the primary beneficiary and the DTE Securitization entities are consolidated by the Registrants. Securitization bond holders have no recourse to the Registrants' assets, except for those held by the DTE Securitization entities. Surcharges collected by DTE Electric to pay for bond servicing and other qualified costs reflect securitization property solely owned by the DTE Securitization entities. 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 and notes receivable.
The table below summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2024 and December 31, 2023. 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 DTE Securitization entities have been aggregated due to their similar nature and are separately stated in the table below, comprising the entirety of the DTE Electric amounts. For all other VIEs, assets and liabilities are also aggregated due to their similar nature and presented together with the DTE Securitization entities in the DTE Energy amounts below. 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.
Amounts for the Registrants' consolidated VIEs are as follows:
September 30, 2024December 31, 2023
DTE EnergyDTE ElectricDTE EnergyDTE Electric
(In millions)
ASSETS
Cash and cash equivalents$8 $— $7 $— 
Restricted cash54 40 25 17 
Accounts receivable37 7 85 6 
Securitized regulatory assets707 707 758 758 
Notes receivable(a)
634 — 183 — 
Other current and long-term assets1 — 4 1 
$1,441 $754 $1,062 $782 
LIABILITIES
Accounts payable$21 $— $59 $— 
Accrued interest4 4 6 6 
Regulatory liabilities — current27 27 8 8 
Securitization bonds(b)
727 727 769 769 
Other current and long-term liabilities20 — 12 — 
$799 $758 $854 $783 
_______________________________________
(a)During the first quarter 2024, a consolidated VIE of DTE Vantage recorded a significant increase in Notes Receivable, primarily due to a one-time payment of $306 million for investments related to a large industrial project. At September 30, 2024, Notes Receivable includes $12 million reported in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Includes $71 million and $64 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the periods ended September 30, 2024 and December 31, 2023, respectively.
Amounts for DTE Energy's non-consolidated VIEs are as follows:
September 30, 2024December 31, 2023
(In millions)
Investments in equity method investees$75 $112 
Notes receivable$21 $15 
v3.24.3
Significant Accounting Policies
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(In millions)
Allowance for equity funds used during construction$24 $8 $62 $26 
Equity earnings of equity method investees12 3 36 7 
Contract services8 5 21 18 
Investment income(a)
7 — 16 9 
Other3 (3)11 10 
$54 $13 $146 $70 
_______________________________________
(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,
2024202320242023
(In millions)
Allowance for equity funds used during construction$23 $8 $60 $25 
Contract services8 6 21 18 
Investment income(a)
6 — 13 6 
Other4 2 11 7 
$41 $16 $105 $56 
_______________________________________
(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, 2024 and 2023, 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,
2024202320242023
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 benefit5.0 4.8 4.3 4.5 
Investment tax credits(34.2)(3.8)(13.6)(2.6)
Production tax credits(17.2)(7.8)(10.9)(6.4)
TCJA regulatory liability amortization(6.2)(4.9)(5.1)(4.2)
AFUDC equity(1.6)(0.8)(1.3)(0.5)
Other(0.6)(2.2)(0.5)(2.0)
Effective income tax rate(33.8)%6.3 %(6.1)%9.8 %
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
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 benefit6.2 5.7 5.7 5.7 
Investment tax credits(28.7)(0.3)(11.7)(0.3)
Production tax credits(19.3)(11.1)(13.1)(9.4)
TCJA regulatory liability amortization(6.4)(6.9)(5.3)(5.9)
AFUDC equity(1.9)(1.1)(1.6)(0.7)
Other(0.5)(0.5)(0.3)(1.2)
Effective income tax rate(29.6)%6.8 %(5.3)%9.2 %
DTE Electric had federal income tax receivables with DTE Energy of $8 million and $7 million at September 30, 2024 and December 31, 2023, respectively, and a state income tax receivable with DTE Energy of $1 million at September 30, 2024, included in Accounts receivable — Affiliates on the DTE Electric Consolidated Statements of Financial Position.
Unrecognized Compensation Costs
As of September 30, 2024, DTE Energy had $71 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 1.5 years.
Allocated Stock-Based Compensation
DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $9 million and $7 million for the three months ended September 30, 2024 and 2023, respectively, while such allocation was $26 million and $27 million for the nine months ended September 30, 2024 and 2023, respectively.
Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with maturities of three months or less. Restricted cash includes funds held in separate bank accounts and principally consists of amounts at DTE Securitization I and DTE Securitization II to pay for debt service and other qualified costs. Restricted cash also consists of funds held to satisfy contractual obligations related to a large construction project at DTE Vantage. 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, 2024.
DTE EnergyDTE Electric
Year of Origination
202420232022 and PriorTotal2024 and Prior
(In millions)
Notes receivable
Internal grade 1$— $1 $4 $5 $1 
Internal grade 2426 7 25 458 1 
Total notes receivable(a)
$426 $8 $29 $463 $2 
Net investment in leases
Internal grade 1$— $— $36 $36 $— 
Internal grade 2160 — 243 403 — 
Total net investment in leases(a)
$160 $— $279 $439 $— 
_______________________________________
(a)For DTE Energy, the current portion is included in Current Assets — Other on the 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, 2024$62 $1 $63 $41 
Current period provision64 — 64 42 
Write-offs charged against allowance(77)— (77)(50)
Recoveries of amounts previously written off32 — 32 20 
Ending reserve balance, September 30, 2024$81 $1 $82 $53 
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 provision52 — 52 36 
Write-offs charged against allowance(112)— (112)(72)
Recoveries of amounts previously written off44 — 44 28 
Ending reserve balance, December 31, 2023$62 $1 $63 $41 
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,
2024202320242023
(In millions)
DTE Energy$27 $10 $65 $45 
DTE Electric$22 $11 $43 $28 
There are no material amounts of past due financing receivables for the Registrants as of September 30, 2024.
v3.24.3
Revenue
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(In millions)
Electric(a)
Residential$946 $861 $2,390 $2,173 
Commercial632 585 1,759 1,604 
Industrial189 190 559 545 
Other(b)
(70)(10)75 12 
Total Electric operating revenues$1,697 $1,626 $4,783 $4,334 
Gas
Gas sales$125 $119 $891 $936 
End User Transportation45 44 180 184 
Intermediate Transportation15 16 60 63 
Other(b)
45 48 99 62 
Total Gas operating revenues$230 $227 $1,230 $1,245 
Other segment operating revenues
DTE Vantage$190 $199 $555 $572 
Energy Trading$840 $893 $2,610 $3,365 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $2 million and $3 million of Other revenues related to DTE Sustainable Generation for the three months ended September 30, 2024 and 2023, respectively, and $11 million and $10 million for the nine months ended September 30, 2024 and 2023, 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,
2024202320242023
(In millions)
Electric — Other revenues $11 $8 $20 $18 
Gas — Alternative Revenue Programs$1 $— $9 $4 
Gas — Other revenues$3 $2 $9 $7 
DTE Vantage — Leases$19 $19 $45 $44 
Energy Trading — Derivatives$536 $670 $1,781 $2,527 
Deferred Revenue
The following is a summary of deferred revenue activity for DTE Energy:
Nine Months Ended September 30,
20242023
(In millions)
Beginning Balance, January 1$106 $94 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period143 113 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(34)(42)
Ending Balance, September 30$215 $165 
Deferred revenues are included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position. Deferred revenues 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 related to 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)
2024$121 
202592 
20261 
20271 
2028— 
2029 and thereafter— 
$215 
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)
2024$47 $2 
2025228 1 
2026166 — 
2027127 — 
202887 — 
2029 and thereafter402 — 
$1,057 $3 
v3.24.3
Regulatory Matters
 9 Months Ended
Sep. 30, 2024
Public Utilities, General Disclosures [Abstract]  
Regulatory Matters REGULATORY MATTERS
2024 Gas Rate Case Filing
DTE Gas filed a rate case with the MPSC on January 8, 2024 requesting an increase in base rates of $266 million based on a projected twelve-month period ending September 30, 2025, and an increase in return on equity from 9.9% to 10.25%. The request reflects a net increase to customer rates of only $160 million, as an existing IRM surcharge of $106 million would be rolled into the new base rates. The requested increase is primarily due to increased investments in plant related to system reliability and pipeline safety and inflationary impacts on operating costs, partially offset by higher sales. A final MPSC order in this case is expected in November 2024.
2024 Electric Rate Case Filing
DTE Electric filed a rate case with the MPSC on March 28, 2024 requesting an increase in base rates of $456 million based on a projected twelve-month period ending December 31, 2025, and an increase in return on equity from 9.9% to 10.5%. The requested increase in base rates was primarily due to the capital investments required to support continued reliability improvements and the ongoing transition to cleaner energy. The requested increase in base rates was also due to the increased cost of debt resulting from market dynamics and increasing operating and maintenance expenses. A final MPSC order in this case is expected in January 2025.
v3.24.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2024
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. 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,
2024202320242023
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company$477 $332 $1,112 $978 
Less: Allocation of earnings to net restricted stock awards2 — 3 2 
Net income available to common shareholders — basic$475 $332 $1,109 $976 
Average number of common shares outstanding — basic207 206 207 206 
Basic Earnings per Common Share$2.30 $1.61 $5.37 $4.74 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company$477 $332 $1,112 $978 
Less: Allocation of earnings to net restricted stock awards2 — 3 2 
Net income available to common shareholders — diluted$475 $332 $1,109 $976 
Average number of common shares outstanding — basic207 206 207 206 
Average performance share awards— — — — 
Average number of common shares outstanding — diluted207 206 207 206 
Diluted Earnings per Common Share
$2.30 $1.61 $5.36 $4.74 
v3.24.3
Fair Value
 9 Months Ended
Sep. 30, 2024
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, 2024 and December 31, 2023. 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, 2024December 31, 2023
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)
$29 $933 $— $— $— $962 $13 $— $— $— $— $13 
Nuclear decommissioning trusts
Equity securities860 — — 148 — 1,008 776 — — 145 — 921 
Fixed income securities125 415 — 110 — 650 127 371 — 92 — 590 
Private equity and other15 — — 335 — 350 — — — 312 — 312 
Hedge funds and similar investments141 81 — — — 222 119 65 — — — 184 
Cash equivalents31 — — — — 31 34 — — — — 34 
Other investments(d)
Equity securities71 — — — — 71 58 — — — — 58 
Fixed income securities8 — — — — 8 7 — — — — 7 
Cash equivalents28 — — — — 28 37 — — — — 37 
Other— 1,071 — — — 1,071 — — — — — — 
Derivative assets
Commodity contracts(e)
Natural gas116 175 108 — (285)114 241 217 179 — (416)221 
Electricity— 93 98 — (98)93 — 258 163 — (243)178 
Environmental & Other— 71 22 — (73)20 — 131 8 — (132)7 
Other contracts — 1 — — — 1 — — — — — — 
Total derivative assets116 340 228 — (456)228 241 606 350 — (791)406 
Total$1,424 $2,840 $228 $593 $(456)$4,629 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(140)$(124)$(113)$— $277 $(100)$(291)$(167)$(157)$— $429 $(186)
Electricity— (102)(69)— 108 (63)— (272)(116)— 297 (91)
Environmental & Other— (59)(3)— 63 1 — (148)(2)— 137 (13)
Other contracts— (12)— — — (12)— (19)— — — (19)
Total$(140)$(297)$(185)$— $448 $(174)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,284 $2,543 $43 $593 $(8)$4,455 $1,121 $436 $75 $549 $72 $2,253 
Assets
Current$111 $2,250 $151 $— $(320)$2,192 $215 $461 $247 $— $(613)$310 
Noncurrent1,313 590 77 593 (136)2,437 1,197 581 103 549 (178)2,252 
Total Assets$1,424 $2,840 $228 $593 $(456)$4,629 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Current$(103)$(212)$(96)$— $317 $(94)$(240)$(462)$(145)$— $670 $(177)
Noncurrent(37)(85)(89)— 131 (80)(51)(144)(130)— 193 (132)
Total Liabilities$(140)$(297)$(185)$— $448 $(174)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,284 $2,543 $43 $593 $(8)$4,455 $1,121 $436 $75 $549 $72 $2,253 
_______________________________________
(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 $21 million and $11 million recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at September 30, 2024 and December 31, 2023, 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, 2024December 31, 2023
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(a)
$21 $— $— $— $21 $11 $— $— $— $11 
Nuclear decommissioning trusts
Equity securities860 — — 148 1,008 776 — — 145 921 
Fixed income securities125 415 — 110 650 127 371 — 92 590 
Private equity and other15 — — 335 350 — — — 312 312 
Hedge funds and similar investments141 81 — — 222 119 65 — — 184 
Cash equivalents31 — — — 31 34 — — — 34 
Other investments
Equity securities26 — — — 26 21 — — — 21 
Cash equivalents19 — — — 19 11 — — — 11 
Derivative assets — FTRs— — 21 — 21 — — 7 — 7 
Total$1,238 $496 $21 $593 $2,348 $1,099 $436 $7 $549 $2,091 
Assets
Current$21 $— $21 $— $42 $11 $— $7 $— $18 
Noncurrent1,217 496 — 593 2,306 1,088 436 — 549 2,073 
Total Assets$1,238 $496 $21 $593 $2,348 $1,099 $436 $7 $549 $2,091 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Amounts include $21 million and $11 million recorded in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at September 30, 2024 and December 31, 2023, respectively. All other amounts are included in Cash and cash equivalents on DTE Electric's Consolidated Statements of Financial Position.
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 in money market funds and time deposit accounts. The fair value of the time deposit investments does not include quoted prices but is otherwise directly observable.
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 $142 million and $157 million as of September 30, 2024 and December 31, 2023, 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, 2024Three months ended September 30, 2023
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of June 30$3 $9 $26 38 $(54)$(4)$16 $(42)
Transfers into Level 3 from Level 2— 2 — 2 — — — — 
Total gains (losses)
Included in earnings7 105 — 112 1 79 (1)79 
Recorded in Regulatory liabilities— — 2 2 — — (2)(2)
Purchases, issuances, and settlements
Settlements(15)(87)(9)(111)25 (71)(2)(48)
Net Assets (Liabilities) as of September 30$(5)$29 $19 $43 $(28)$4 $11 $(13)
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)
$(6)$75 $(10)$59 $4 $26 $(6)$24 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $2 $2 $— $— $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, 2024Nine Months Ended September 30, 2023
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$22 $47 $6 $75 $(255)$(33)$11 $(277)
Transfers into Level 3 from Level 21 1 — 2 — — — — 
Total gains (losses)
Included in earnings(a)
13 196 (1)208 163 109 1 273 
Recorded in Regulatory liabilities— — 29 29 — — 3 3 
Purchases, issuances, and settlements
Settlements(41)(215)(15)(271)64 (72)(4)(12)
Net Assets (Liabilities) as of September 30$(5)$29 $19 $43 $(28)$4 $11 $(13)
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)
$(25)$156 $(41)$90 $94 $94 $(36)$152 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $21 $21 $— $— $10 $10 
_______________________________________
(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,
2024202320242023
(In millions)
Net Assets as of beginning of period$28 $14 $7 $11 
Total gains (losses) recorded in Regulatory liabilities2 (2)29 3 
Purchases, issuances, and settlements
Settlements(9)(2)(15)(4)
Net Assets as of September 30$21 $10 $21 $10 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$2 $1 $21 $10 
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 September 30, 2024 and 2023.
The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:
September 30, 2024
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$108 $(113)Discounted Cash FlowForward basis price (per MMBtu)$(1.28)—$2.44 /MMBtu$(0.13)/MMBtu
Electricity$98 $(69)Discounted Cash FlowForward basis price (per MWh)$(18.51)—$16.65 /MWh$(3.38)/MWh
December 31, 2023
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$179 $(157)Discounted Cash FlowForward basis price (per MMBtu)$(1.57)—$6.27 /MMBtu$(0.08)/MMBtu
Electricity$163 $(116)Discounted Cash FlowForward basis price (per MWh)$(18.49)—$15.47 /MWh$(3.99)/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, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$463 $— $— $501 $175 $— $— $181 
Short-term borrowings$966 $— $966 $— $1,283 $— $1,283 $— 
Notes payable(b)
$15 $— $— $15 $34 $— $— $34 
Long-term debt(c)
$23,635 $828 $20,724 $1,219 $19,546 $807 $16,178 $1,202 
_______________________________________
(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, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$2 $— $— $2 $19 $— $— $19 
Short-term borrowings — affiliates$142 $— $— $142 $— $— $— $— 
Short-term borrowings — other$798 $— $798 $— $385 $— $385 $— 
Notes payable(b)
$14 $— $— $14 $33 $— $— $33 
Long-term debt(c)
$11,899 $— $11,053 $142 $11,043 $— $9,999 $126 
_______________________________________
(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 7 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, 2024December 31, 2023
(In millions)
Fermi 2$2,241 $2,026 
Fermi 13 3 
Low-level radioactive waste17 12 
$2,261 $2,041 
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,
2024202320242023
(In millions)
Realized gains$11 $5 $41 $24 
Realized losses$(6)$(6)$(22)$(32)
Proceeds from sale of securities$91 $104 $438 $527 
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, 2024December 31, 2023
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$1,008 $568 $(11)$921 $459 $(11)
Fixed income securities650 22 (21)590 8 (30)
Private equity and other350 102 (8)312 74 (8)
Hedge funds and similar investments222 9 (4)184 4 (9)
Cash equivalents31 — — 34 — — 
$2,261 $701 $(44)$2,041 $545 $(58)
The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:
September 30, 2024
(In millions)
Due within one year$16 
Due after one through five years103 
Due after five through ten years116 
Due after ten years305 
$540 
Fixed income securities held in nuclear decommissioning trust funds include $110 million of non-publicly traded commingled funds that do not have a contractual maturity date.
Other Securities
At September 30, 2024, DTE Energy had $1.1 billion invested in time deposit accounts with an original maturity of greater than three months, which is included in Current investments on the Consolidated Statements of Financial Position. The investment does not include quoted prices, but the fair value is otherwise directly observable.
At September 30, 2024 and December 31, 2023, DTE Energy securities included in Other long-term investments on the Consolidated Statements of Financial Position consisted 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, 2024 and 2023.
v3.24.3
Financial and Other Derivative Instruments
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial and Other Derivative Instruments FINANCIAL AND OTHER DERIVATIVE INSTRUMENTS
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 2027. 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, 2024 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, 2024December 31, 2023
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
  Interest rate contracts $1 $(11)$— $(16)
  Foreign currency exchange contracts— (1)— (2)
Total derivatives designated as hedging instruments$1 $(12)$— $(18)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$399 $(377)$637 $(615)
Electricity191 (171)421 (388)
Environmental & Other93 (62)139 (150)
Foreign currency exchange contracts— — — (1)
Total derivatives not designated as hedging instruments$683 $(610)$1,197 $(1,154)
Current$479 $(411)$910 $(847)
Noncurrent205 (211)287 (325)
Total derivatives$684 $(622)$1,197 $(1,172)
The fair value of derivative instruments at DTE Electric was $21 million and $7 million at September 30, 2024 and December 31, 2023, 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 letters of credit of $2 million and $3 million issued and outstanding at September 30, 2024 and December 31, 2023, respectively, 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 $1 million and $10 million at September 30, 2024 and December 31, 2023, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.
For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2024December 31, 2023
(In millions)
Cash collateral netted against Derivative assets$(8)$— 
Cash collateral netted against Derivative liabilities— 72 
Cash collateral recorded in Accounts receivable(a)
93 57 
Cash collateral recorded in Accounts payable(a)
(64)(3)
Total net cash collateral posted (received)$21 $126 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2024December 31, 2023
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$399 $(285)$114 $637 $(416)$221 
Electricity191 (98)93 421 (243)178 
Environmental & Other93 (73)20 139 (132)7 
Interest rate contracts 1 — 1 — — — 
Foreign currency exchange contracts— — — — — — 
Total derivative assets$684 $(456)$228 $1,197 $(791)$406 
Derivative liabilities
Commodity contracts(a)
Natural gas$(377)$277 $(100)$(615)$429 $(186)
Electricity(171)108 (63)(388)297 (91)
Environmental & Other(62)63 1 (150)137 (13)
Interest rate contracts(11)— (11)(16)— (16)
Foreign currency exchange contracts(1)— (1)(3)— (3)
Total derivative liabilities$(622)$448 $(174)$(1,172)$863 $(309)
_______________________________________
(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, 2024December 31, 2023
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$479 $205 $(411)$(211)$910 $287 $(847)$(325)
Counterparty netting(317)(131)317 131 (613)(178)613 178 
Collateral adjustment(3)(5)— — — — 57 15 
Total derivatives as reported$159 $69 $(94)$(80)$297 $109 $(177)$(132)
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,
2024202320242023
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(25)$(41)$(49)$89 
Natural gasFuel, purchased power, gas, and other — non-utility45 37 83 120 
ElectricityOperating Revenues — Non-utility operations99 85 189 30 
Environmental & OtherOperating Revenues — Non-utility operations(6)(4)(10)(5)
Foreign currency exchange contractsOperating Revenues — Non-utility operations(1)1 1 — 
Total$112 $78 $214 $234 
Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, gas, and other — non-utility.
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2024:
CommodityNumber of Units
Natural gas (MMBtu)2,128,196,720 
Electricity (MWh)39,767,287 
Oil (Gallons)1,068,000 
Foreign currency exchange ($ CAD)104,219,982 
FTR (MWh)105,362 
Renewable Energy Certificates (MWh)11,677,855 
Carbon emissions (Metric Tons)402,217 
Interest rate contracts ($ USD)700,000,000 
Various subsidiaries and equity investees 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, 2024, 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 $420 million.
As of September 30, 2024, DTE Energy had $482 million of derivatives in net liability positions, for which hard triggers exist. There is no 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 $435 million. The net remaining amount of $47 million is derived from the $420 million noted above.
v3.24.3
Long-Term Debt
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
Debt Issuances
Refer to the table below for debt issued through September 30, 2024:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE EnergyFebruary
Senior Notes(a)
5.10%2029$1,200 
DTE ElectricFebruary
Mortgage Bonds(b)
4.85%2026500 
DTE ElectricFebruary
Mortgage Bonds(b)
5.20%2034500 
DTE EnergyMay
Senior Notes (c)
5.85%2034850 
DTE EnergyAugust
Senior Notes (d)
4.95%20271,200 
$4,250 
_______________________________________
(a)Proceeds used for the repayment of short-term borrowings and for general corporate purposes.
(b)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.
(c)Proceeds to be used for the repayment of a portion of the $675 million 2016 Series C 2.53% Senior Notes due October 1, 2024, for repayment of a portion of the $1.3 billion 2019 Series F 4.22% Senior Notes due November 1, 2024, and for general corporate purposes. Pending repayment of the 2016 Series C and 2019 Series F Senior Notes, proceeds of the notes were invested in short-term investments.
(d)Proceeds to be used for the repayment of a portion of the $1.3 billion 2019 Series F 4.22% Senior Notes due November 1, 2024 and for general corporate purposes. Pending repayment of the 2019 Series F Senior Notes, a portion of the proceeds of the notes were invested in cash equivalents.
In October 2024, DTE Gas issued $160 million of 4.87% First Mortgage Bonds due November 1, 2034 and $160 million of 5.43% First Mortgage Bonds due November 1, 2054 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.
Debt Redemptions
Refer to the table below for debt redeemed through September 30, 2024:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricMarchMortgage Bonds3.65%2024$100 
DTE ElectricJuneSecuritization Bonds2.64%202419
DTE ElectricSeptemberSecuritization Bonds5.97%202424 
$143 
In October 2024, DTE Energy redeemed at maturity its $675 million 2016 Series C 2.53% Senior Notes. This redemption was funded through the maturity of a portion of time deposits which were included in Current investments on DTE Energy's Consolidated Statements of Financial Position at September 30, 2024.
v3.24.3
Short-Term Credit Arrangements and Borrowings
 9 Months Ended
Sep. 30, 2024
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, 2024, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.66 to 1, 0.54 to 1, and 0.46 to 1, respectively, and were in compliance with this financial covenant.
The availability under these facilities as of September 30, 2024 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 2025(a)
175 — — $175 
Unsecured letter of credit facility, expiring February 2025150 — — 150 
Unsecured letter of credit facility, expiring June 2026100 — — 100 
Unsecured letter of credit facility(b)
50 — — 50 
Unsecured letter of credit facility(c)
— 125 — 125 
1,975 925 300 3,200 
Amounts outstanding at September 30, 2024
Commercial paper issuances28 798 140 966 
Letters of credit83 92 — 175 
111 890 140 1,141 
Net availability at September 30, 2024$1,864 $35 $160 $2,059 
_______________________________________
(a)Uncommitted letter of credit facility.
(b)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration.
(c)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, 2024, the capacity under the facility was $200 million. The amounts outstanding under demand financing agreements were $133 million and $152 million at September 30, 2024 and December 31, 2023, respectively, and were fully offset by posted collateral.
v3.24.3
Leases
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Leases LEASES
Lessor
During the first quarter 2024, DTE Energy completed construction of and began operating certain energy infrastructure assets under a long-term agreement with a large industrial customer. DTE Energy began leasing these assets to the customer for a 20-year term ending in 2044. DTE Energy has accounted for this arrangement as a finance lease, recognizing a net investment of $157 million as of September 30, 2024. Under the long-term agreement, additional energy infrastructure assets remain under construction and are expected to be completed through the remainder of 2024. The assets will be subsequently leased to the customer and increase the net investment in finance leases accordingly.
The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
DTE Energy
September 30, 2024
(In millions)
2024$13 
202552 
202651 
202751 
202850 
2029 and thereafter644 
Total minimum future lease receipts861 
Residual value of leased pipeline17 
Less unearned income439 
Net investment in finance lease439 
Less current portion12 
$427 
Interest income recognized under finance leases was $10 million and $6 million for the three months ended September 30, 2024 and 2023, respectively, and $27 million and $20 million for the nine months ended September 30, 2024 and 2023, 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,
2024202320242023
(In millions)
Fixed payments$4 $4 $11 $11 
Variable payments15 15 34 33 
$19 $19 $45 $44 
Leases LEASES
Lessor
During the first quarter 2024, DTE Energy completed construction of and began operating certain energy infrastructure assets under a long-term agreement with a large industrial customer. DTE Energy began leasing these assets to the customer for a 20-year term ending in 2044. DTE Energy has accounted for this arrangement as a finance lease, recognizing a net investment of $157 million as of September 30, 2024. Under the long-term agreement, additional energy infrastructure assets remain under construction and are expected to be completed through the remainder of 2024. The assets will be subsequently leased to the customer and increase the net investment in finance leases accordingly.
The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
DTE Energy
September 30, 2024
(In millions)
2024$13 
202552 
202651 
202751 
202850 
2029 and thereafter644 
Total minimum future lease receipts861 
Residual value of leased pipeline17 
Less unearned income439 
Net investment in finance lease439 
Less current portion12 
$427 
Interest income recognized under finance leases was $10 million and $6 million for the three months ended September 30, 2024 and 2023, respectively, and $27 million and $20 million for the nine months ended September 30, 2024 and 2023, 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,
2024202320242023
(In millions)
Fixed payments$4 $4 $11 $11 
Variable payments15 15 34 33 
$19 $19 $45 $44 
v3.24.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2024
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 the 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 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 March 2024, the EPA finalized the NAAQS for fine particulate matter, particles of pollution with diameters generally 2.5 micrometers and smaller (PM2.5). It is likely that areas of Michigan in which DTE Electric operates will be designated as non-attainment in the future and the state will be required to develop a SIP for such areas. No impact is expected in the near term, and any long-term financial impacts cannot be assessed at this time.
In April 2024, the EPA finalized new rules to address emissions of GHGs from existing, new, modified, or reconstructed sources in the power sector. The new rules may impact future electric generation plans that will be defined in DTE Electric's next Integrated Resource Plan filing. Challenges to the rules have been filed, and DTE Electric will continue to monitor regulatory developments. The financial impacts of the new rules are still being assessed.
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 identifying any necessary controls or modifications to existing intake structures. DTE Electric's current capital plan includes an estimated $3 million of compliance-related expenditures for Belle River power plant after its conversion. Projected capital expenditures have decreased as a result of Monroe power plant's expected retirement and the planned conversion of the Belle River power plant to natural gas. However, discussions with the state are ongoing.
As part of the Monroe power plant NPDES permit, EGLE has added an option to evaluate the thermal discharge of the facility as it relates to Clean Water Act section 316(a) regulations in order to establish an appropriate temperature discharge limit. DTE Electric has submitted 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. The investigations at the former MGP sites have revealed contamination related to the by-products of gas manufacturing. Cleanup of one of the MGP sites is complete, and that site is closed. DTE Electric has also completed partial closure of one additional site. Cleanup activities associated with the remaining sites will continue over the next several years. 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, 2024 and December 31, 2023, DTE Electric had $9 million 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 currently owns and operates multiple coal ash storage facilities to manage coal ash from coal-fired power plants that are subject to federal, state, and local CCR and solid waste regulations. At certain facilities, the rule required 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. DTE Electric subsequently ceased receipt of waste at the St. Clair power plant bottom ash basins and initiated closure, resulting in withdrawal of the Part A demonstration for the plant. Additionally, DTE Electric implemented projects at the Belle River and Monroe power plants to cease receipt of waste within any unlined CCR impoundments, resulting in withdrawals of the Part B applications for those plants.
On May 8, 2024, the EPA finalized a new rule to regulate legacy CCR surface impoundments and CCR management units. The rule expands the reach of the CCR rule to inactive electric generation sites and previously unregulated CCR at any active facility. DTE Electric is in the process of evaluating the final rule, which may have significant financial impacts depending on the site-specific characteristics of the units that are regulated by the new rule. Long-term financial impacts cannot be clearly defined at this time and likely will not be clearly defined until the regulated units are identified. Challenges to the rule have been filed, and DTE Electric will continue to monitor for regulatory developments. The preliminary cost estimate to comply with the revised rule is approximately $210 million as of September 30, 2024, and is recorded to Asset retirement obligations. The estimate will be updated as necessary when site-specific details are more fully known. These costs are expected to be recoverable under the regulatory construct as part of removal costs.
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.
The EPA has updated and revised the ELG in 2015, 2020, and 2024. In each revision, EPA has re-established technology-based standards applicable to wastewaters created at facilities with an electrical generating unit. In each revision, the EPA also established new applicability dates.
The Reconsideration Rule, finalized in 2020, provided additional opportunities by finalizing a group of compliance subcategories that provided cessation of coal as a compliance option. Additionally, the 2020 Reconsideration Rule established the Voluntary Incentives Program (VIP) for FGD wastewater compliance only. 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 by December 1, 2028. The Reconsideration Rule provided these 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, 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.
The EPA also finalized Supplemental ELG Rules on May 9, 2024. This updated the regulations from the 2020 ELG rule for FGD wastewater, bottom ash transport water (BATW), combustion residual leachate (CRL), and legacy wastewater (LWW). The supplemental rule established new technology-based effluent limitations guidelines and standards applicable to FGD wastewater, BATW, CRL, and LWW. The applicability date for BATW is as soon as possible beginning July 8, 2024 and no later than December 31, 2029. FGD wastewater retrofits must be completed as soon as possible, beginning July 8, 2024 and no later than December, 31 2029 or December 31, 2028 if a permittee is pursuing the VIP subcategory for FGD wastewater. The Cessation of Coal compliance subcategory and VIP from the 2020 Reconsideration Rule were maintained in the 2024 Supplemental Rule and continue to be a fundamental component of DTE Electric's ELG compliance strategy.
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 in accordance with the VIP subcategory for FGD and new discharge requirements for BATW. Additionally, DTE Electric is evaluating compliance strategies and options to address new requirement and deadlines for other wastewater streams in the 2024 Supplemental Rule at both Belle River Power Plant and Sibley Quarry.
DTE Electric currently estimates the impact of the CCR and ELG rules to be $413 million of capital expenditures, including $403 million for 2024 through 2028. This estimate may change in future periods as DTE Electric evaluates the CCR and ELG rules discussed above that have recently been finalized.
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, 2024 and December 31, 2023, DTE Gas had $25 million and $26 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 — In March 2023, the EPA published the Good Neighbor Rule, which includes provisions for compressor engines operated for the transportation of natural gas. In June 2024, the United States Supreme Court issued an opinion granting emergency applications to stay the Good Neighbor Rule. The stay will remain in effect during other litigation. The status of the rule remains uncertain as litigation is ongoing. At this time, DTE Gas does not expect a significant financial impact.
As noted above for DTE Electric, the EPA finalized the NAAQS for fine particulate matter in March 2024. It is likely that areas of Michigan in which DTE Gas operates will be designated as non-attainment in the future and the state will be required to develop a SIP for such areas. No impact is expected in the near term, and any long-term financial impacts cannot be assessed 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 ("DOJ"), 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. The case is proceeding through discovery and trial is set for July 2025. On May 20, 2024, the court granted a motion allowing the DOJ to amend their complaint to add EES Coke's parent entities, including DTE Energy, as defendants. The parent entities were added in an attempt to share in any potential liability; there are no additional claims alleged. At the present time, DTE Energy 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, 2024 was $216 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 $69 million at September 30, 2024. 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, 2024, DTE Energy had $360 million of performance bonds outstanding, including $185 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 4,800 represented employees, including DTE Electric's approximately 2,500 represented employees. This represents 51% and 59% of DTE Energy's and DTE Electric's total employees, respectively. Of these represented employees, approximately 8% 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 $4.7 billion and $3.4 billion in 2024 for DTE Energy and DTE Electric, respectively. The Registrants have made certain commitments in connection with the estimated 2024 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 those matters, 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. 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 2025. DTE Electric cannot predict the financial impact or outcome of this matter.
In May 2023, the MPSC approved a jointly-filed request by DTE Electric and Consumers for authority to defer as a regulatory asset the costs associated with repairing or replacing the defective work performed by TAES while the litigation with TAES and Toshiba Corporation moves forward. DTE Electric currently estimates its share of these repair and replacement costs ranges from $350 million to $400 million. Such costs will be offset by any potential litigation proceeds received from TAES or Toshiba Corporation. DTE Electric and Consumers will have the opportunity to seek recovery and ratemaking treatment for amounts which are not recovered from TAES or Toshiba Corporation.
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 4 and 7 to the Consolidated Financial Statements, "Regulatory Matters" and "Financial and Other Derivative Instruments," respectively.
v3.24.3
Retirement Benefits and Trusteed Assets
 9 Months Ended
Sep. 30, 2024
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
2024202320242023
(In millions)
Three Months Ended September 30,
Service cost$14 $15 $4 $4 
Interest cost52 54 16 17 
Expected return on plan assets(86)(89)(30)(28)
Amortization of:
Net actuarial loss15 2 2 2 
Prior service credit
— (1)(3)(4)
Net periodic benefit credit
$(5)$(19)$(11)$(9)
Pension BenefitsOther Postretirement Benefits
2024202320242023
(In millions)
Nine Months Ended September 30,
Service cost$43 $43 $13 $13 
Interest cost156 161 47 49 
Expected return on plan assets(256)(264)(90)(83)
Amortization of:
Net actuarial loss44 5 5 7 
Prior service credit(1)(2)(8)(14)
Settlements— 7 — — 
Net periodic benefit credit$(14)$(50)$(33)$(28)
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.
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 and liabilities, operation and maintenance expense, other income and deductions, and capital expenditures were credits of $1 million and $4 million for the three and nine months ended September 30, 2024, respectively, and $12 million and $28 million for the three and nine months ended September 30, 2023, 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,
2024202320242023
(In millions)
Service cost$3 $3 $10 $10 
Interest cost11 12 35 37 
Expected return on plan assets(20)(18)(59)(55)
Amortization of:
Net actuarial loss1 — 1 — 
Prior service credit(1)(3)(5)(10)
Net periodic benefit credit$(6)$(6)$(18)$(18)
Pension and Other Postretirement Contributions
In September, DTE Energy made a nominal contribution to the qualified pension plans and no contributions are currently expected for DTE Energy’s postretirement benefit plans in 2024. Plans may be updated at the discretion of management and depending on economic and financial market conditions.
v3.24.3
Segment and Related Information
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(In millions)
Electric$18 $20 $54 $55 
Gas5 4 12 13 
DTE Vantage7 13 25 32 
Energy Trading21 20 66 65 
Corporate and Other— — — — 
$51 $57 $157 $165 
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,
2024202320242023
(In millions)
Operating Revenues — Utility operations
Electric$1,695 $1,623 $4,772 $4,324 
Gas230 227 1,230 1,245 
Operating Revenues — Non-utility operations
Electric2 3 11 10 
DTE Vantage190 199 555 572 
Energy Trading840 893 2,610 3,365 
Corporate and Other— — — — 
Reconciliation and Eliminations(51)(57)(157)(165)
Total$2,906 $2,888 $9,021 $9,351 
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment
Electric$437 $268 $886 $547 
Gas(13)(5)153 190 
DTE Vantage33 56 74 109 
Energy Trading42 65 82 234 
Corporate and Other(22)(52)(83)(102)
Net Income Attributable to DTE Energy Company$477 $332 $1,112 $978 
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure        
Net Income Attributable to DTE Energy Company $ 477 $ 332 $ 1,112 $ 978
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2024
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
v3.24.3
Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2024
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 2023 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, 2024.
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, 2024, 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, 2024, 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.
DTE Electric previously financed regulatory assets for deferred costs related to certain retired generation plants and its tree trimming surge program through the sale of bonds by wholly-owned special purpose entities, DTE Securitization I and DTE Securitization II (collectively "the DTE Securitization entities"). The DTE Securitization entities are VIEs. DTE Electric has the power to direct the most significant activities of these entities, including performing servicing activities such as billing and collecting surcharge revenue. Accordingly, DTE Electric is the primary beneficiary and the DTE Securitization entities are consolidated by the Registrants. Securitization bond holders have no recourse to the Registrants' assets, except for those held by the DTE Securitization entities. Surcharges collected by DTE Electric to pay for bond servicing and other qualified costs reflect securitization property solely owned by the DTE Securitization entities. 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 and notes receivable.
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 maturities of three months or less. Restricted cash includes funds held in separate bank accounts and principally consists of amounts at DTE Securitization I and DTE Securitization II to pay for debt service and other qualified costs. Restricted cash also consists of funds held to satisfy contractual obligations related to a large construction project at DTE Vantage. 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, 2024.
DTE EnergyDTE Electric
Year of Origination
202420232022 and PriorTotal2024 and Prior
(In millions)
Notes receivable
Internal grade 1$— $1 $4 $5 $1 
Internal grade 2426 7 25 458 1 
Total notes receivable(a)
$426 $8 $29 $463 $2 
Net investment in leases
Internal grade 1$— $— $36 $36 $— 
Internal grade 2160 — 243 403 — 
Total net investment in leases(a)
$160 $— $279 $439 $— 
_______________________________________
(a)For DTE Energy, the current portion is included in Current Assets — Other on the 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.
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, 2024 and December 31, 2023. 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 $142 million and $157 million as of September 30, 2024 and December 31, 2023, 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 2027. 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, 2024 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 letters of credit of $2 million and $3 million issued and outstanding at September 30, 2024 and December 31, 2023, respectively, 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 $1 million and $10 million at September 30, 2024 and December 31, 2023, 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.
v3.24.3
Organization and Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2024
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, 2024 and December 31, 2023. 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 DTE Securitization entities have been aggregated due to their similar nature and are separately stated in the table below, comprising the entirety of the DTE Electric amounts. For all other VIEs, assets and liabilities are also aggregated due to their similar nature and presented together with the DTE Securitization entities in the DTE Energy amounts below. 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.
Amounts for the Registrants' consolidated VIEs are as follows:
September 30, 2024December 31, 2023
DTE EnergyDTE ElectricDTE EnergyDTE Electric
(In millions)
ASSETS
Cash and cash equivalents$8 $— $7 $— 
Restricted cash54 40 25 17 
Accounts receivable37 7 85 6 
Securitized regulatory assets707 707 758 758 
Notes receivable(a)
634 — 183 — 
Other current and long-term assets1 — 4 1 
$1,441 $754 $1,062 $782 
LIABILITIES
Accounts payable$21 $— $59 $— 
Accrued interest4 4 6 6 
Regulatory liabilities — current27 27 8 8 
Securitization bonds(b)
727 727 769 769 
Other current and long-term liabilities20 — 12 — 
$799 $758 $854 $783 
_______________________________________
(a)During the first quarter 2024, a consolidated VIE of DTE Vantage recorded a significant increase in Notes Receivable, primarily due to a one-time payment of $306 million for investments related to a large industrial project. At September 30, 2024, Notes Receivable includes $12 million reported in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Includes $71 million and $64 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the periods ended September 30, 2024 and December 31, 2023, respectively.
Summary of Amounts for Non-Consolidated Variable Interest Entities
Amounts for DTE Energy's non-consolidated VIEs are as follows:
September 30, 2024December 31, 2023
(In millions)
Investments in equity method investees$75 $112 
Notes receivable$21 $15 
v3.24.3
Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(In millions)
Allowance for equity funds used during construction$24 $8 $62 $26 
Equity earnings of equity method investees12 3 36 7 
Contract services8 5 21 18 
Investment income(a)
7 — 16 9 
Other3 (3)11 10 
$54 $13 $146 $70 
_______________________________________
(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,
2024202320242023
(In millions)
Allowance for equity funds used during construction$23 $8 $60 $25 
Contract services8 6 21 18 
Investment income(a)
6 — 13 6 
Other4 2 11 7 
$41 $16 $105 $56 
_______________________________________
(a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations.
Schedule of Effective Income Tax Rate Reconciliation The tables below summarize how the Registrants' effective income tax rates have varied from the statutory federal income tax rate:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
DTE Energy
Statutory federal income tax rate21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit5.0 4.8 4.3 4.5 
Investment tax credits(34.2)(3.8)(13.6)(2.6)
Production tax credits(17.2)(7.8)(10.9)(6.4)
TCJA regulatory liability amortization(6.2)(4.9)(5.1)(4.2)
AFUDC equity(1.6)(0.8)(1.3)(0.5)
Other(0.6)(2.2)(0.5)(2.0)
Effective income tax rate(33.8)%6.3 %(6.1)%9.8 %
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
DTE Electric
Statutory federal income tax rate21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit6.2 5.7 5.7 5.7 
Investment tax credits(28.7)(0.3)(11.7)(0.3)
Production tax credits(19.3)(11.1)(13.1)(9.4)
TCJA regulatory liability amortization(6.4)(6.9)(5.3)(5.9)
AFUDC equity(1.9)(1.1)(1.6)(0.7)
Other(0.5)(0.5)(0.3)(1.2)
Effective income tax rate(29.6)%6.8 %(5.3)%9.2 %
Schedule of Financing Receivables Classified by Internal Grade of Credit Risk
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk, including current year-to-date gross write-offs, if any. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through September 30, 2024.
DTE EnergyDTE Electric
Year of Origination
202420232022 and PriorTotal2024 and Prior
(In millions)
Notes receivable
Internal grade 1$— $1 $4 $5 $1 
Internal grade 2426 7 25 458 1 
Total notes receivable(a)
$426 $8 $29 $463 $2 
Net investment in leases
Internal grade 1$— $— $36 $36 $— 
Internal grade 2160 — 243 403 — 
Total net investment in leases(a)
$160 $— $279 $439 $— 
_______________________________________
(a)For DTE Energy, the current portion is included in Current Assets — Other on the 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, 2024$62 $1 $63 $41 
Current period provision64 — 64 42 
Write-offs charged against allowance(77)— (77)(50)
Recoveries of amounts previously written off32 — 32 20 
Ending reserve balance, September 30, 2024$81 $1 $82 $53 
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 provision52 — 52 36 
Write-offs charged against allowance(112)— (112)(72)
Recoveries of amounts previously written off44 — 44 28 
Ending reserve balance, December 31, 2023$62 $1 $63 $41 
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,
2024202320242023
(In millions)
DTE Energy$27 $10 $65 $45 
DTE Electric$22 $11 $43 $28 
v3.24.3
Revenue (Tables)
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(In millions)
Electric(a)
Residential$946 $861 $2,390 $2,173 
Commercial632 585 1,759 1,604 
Industrial189 190 559 545 
Other(b)
(70)(10)75 12 
Total Electric operating revenues$1,697 $1,626 $4,783 $4,334 
Gas
Gas sales$125 $119 $891 $936 
End User Transportation45 44 180 184 
Intermediate Transportation15 16 60 63 
Other(b)
45 48 99 62 
Total Gas operating revenues$230 $227 $1,230 $1,245 
Other segment operating revenues
DTE Vantage$190 $199 $555 $572 
Energy Trading$840 $893 $2,610 $3,365 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $2 million and $3 million of Other revenues related to DTE Sustainable Generation for the three months ended September 30, 2024 and 2023, respectively, and $11 million and $10 million for the nine months ended September 30, 2024 and 2023, 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,
2024202320242023
(In millions)
Electric — Other revenues $11 $8 $20 $18 
Gas — Alternative Revenue Programs$1 $— $9 $4 
Gas — Other revenues$3 $2 $9 $7 
DTE Vantage — Leases$19 $19 $45 $44 
Energy Trading — Derivatives$536 $670 $1,781 $2,527 
Summary of Deferred Revenue Activity
The following is a summary of deferred revenue activity for DTE Energy:
Nine Months Ended September 30,
20242023
(In millions)
Beginning Balance, January 1$106 $94 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period143 113 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(34)(42)
Ending Balance, September 30$215 $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)
2024$121 
202592 
20261 
20271 
2028— 
2029 and thereafter— 
$215 
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)
2024$47 $2 
2025228 1 
2026166 — 
2027127 — 
202887 — 
2029 and thereafter402 — 
$1,057 $3 
v3.24.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company$477 $332 $1,112 $978 
Less: Allocation of earnings to net restricted stock awards2 — 3 2 
Net income available to common shareholders — basic$475 $332 $1,109 $976 
Average number of common shares outstanding — basic207 206 207 206 
Basic Earnings per Common Share$2.30 $1.61 $5.37 $4.74 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company$477 $332 $1,112 $978 
Less: Allocation of earnings to net restricted stock awards2 — 3 2 
Net income available to common shareholders — diluted$475 $332 $1,109 $976 
Average number of common shares outstanding — basic207 206 207 206 
Average performance share awards— — — — 
Average number of common shares outstanding — diluted207 206 207 206 
Diluted Earnings per Common Share
$2.30 $1.61 $5.36 $4.74 
v3.24.3
Fair Value (Tables)
 9 Months Ended
Sep. 30, 2024
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, 2024December 31, 2023
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)
$29 $933 $— $— $— $962 $13 $— $— $— $— $13 
Nuclear decommissioning trusts
Equity securities860 — — 148 — 1,008 776 — — 145 — 921 
Fixed income securities125 415 — 110 — 650 127 371 — 92 — 590 
Private equity and other15 — — 335 — 350 — — — 312 — 312 
Hedge funds and similar investments141 81 — — — 222 119 65 — — — 184 
Cash equivalents31 — — — — 31 34 — — — — 34 
Other investments(d)
Equity securities71 — — — — 71 58 — — — — 58 
Fixed income securities8 — — — — 8 7 — — — — 7 
Cash equivalents28 — — — — 28 37 — — — — 37 
Other— 1,071 — — — 1,071 — — — — — — 
Derivative assets
Commodity contracts(e)
Natural gas116 175 108 — (285)114 241 217 179 — (416)221 
Electricity— 93 98 — (98)93 — 258 163 — (243)178 
Environmental & Other— 71 22 — (73)20 — 131 8 — (132)7 
Other contracts — 1 — — — 1 — — — — — — 
Total derivative assets116 340 228 — (456)228 241 606 350 — (791)406 
Total$1,424 $2,840 $228 $593 $(456)$4,629 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(140)$(124)$(113)$— $277 $(100)$(291)$(167)$(157)$— $429 $(186)
Electricity— (102)(69)— 108 (63)— (272)(116)— 297 (91)
Environmental & Other— (59)(3)— 63 1 — (148)(2)— 137 (13)
Other contracts— (12)— — — (12)— (19)— — — (19)
Total$(140)$(297)$(185)$— $448 $(174)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,284 $2,543 $43 $593 $(8)$4,455 $1,121 $436 $75 $549 $72 $2,253 
Assets
Current$111 $2,250 $151 $— $(320)$2,192 $215 $461 $247 $— $(613)$310 
Noncurrent1,313 590 77 593 (136)2,437 1,197 581 103 549 (178)2,252 
Total Assets$1,424 $2,840 $228 $593 $(456)$4,629 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Current$(103)$(212)$(96)$— $317 $(94)$(240)$(462)$(145)$— $670 $(177)
Noncurrent(37)(85)(89)— 131 (80)(51)(144)(130)— 193 (132)
Total Liabilities$(140)$(297)$(185)$— $448 $(174)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,284 $2,543 $43 $593 $(8)$4,455 $1,121 $436 $75 $549 $72 $2,253 
_______________________________________
(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 $21 million and $11 million recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at September 30, 2024 and December 31, 2023, 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, 2024December 31, 2023
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(a)
$21 $— $— $— $21 $11 $— $— $— $11 
Nuclear decommissioning trusts
Equity securities860 — — 148 1,008 776 — — 145 921 
Fixed income securities125 415 — 110 650 127 371 — 92 590 
Private equity and other15 — — 335 350 — — — 312 312 
Hedge funds and similar investments141 81 — — 222 119 65 — — 184 
Cash equivalents31 — — — 31 34 — — — 34 
Other investments
Equity securities26 — — — 26 21 — — — 21 
Cash equivalents19 — — — 19 11 — — — 11 
Derivative assets — FTRs— — 21 — 21 — — 7 — 7 
Total$1,238 $496 $21 $593 $2,348 $1,099 $436 $7 $549 $2,091 
Assets
Current$21 $— $21 $— $42 $11 $— $7 $— $18 
Noncurrent1,217 496 — 593 2,306 1,088 436 — 549 2,073 
Total Assets$1,238 $496 $21 $593 $2,348 $1,099 $436 $7 $549 $2,091 
_______________________________________
(a)Amounts represent assets valued at NAV as a practical expedient for fair value.
(b)Amounts include $21 million and $11 million recorded in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at September 30, 2024 and December 31, 2023, respectively. All other amounts are included in Cash and cash equivalents on DTE Electric's Consolidated Statements of Financial Position.
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, 2024Three months ended September 30, 2023
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of June 30$3 $9 $26 38 $(54)$(4)$16 $(42)
Transfers into Level 3 from Level 2— 2 — 2 — — — — 
Total gains (losses)
Included in earnings7 105 — 112 1 79 (1)79 
Recorded in Regulatory liabilities— — 2 2 — — (2)(2)
Purchases, issuances, and settlements
Settlements(15)(87)(9)(111)25 (71)(2)(48)
Net Assets (Liabilities) as of September 30$(5)$29 $19 $43 $(28)$4 $11 $(13)
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)
$(6)$75 $(10)$59 $4 $26 $(6)$24 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $2 $2 $— $— $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, 2024Nine Months Ended September 30, 2023
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$22 $47 $6 $75 $(255)$(33)$11 $(277)
Transfers into Level 3 from Level 21 1 — 2 — — — — 
Total gains (losses)
Included in earnings(a)
13 196 (1)208 163 109 1 273 
Recorded in Regulatory liabilities— — 29 29 — — 3 3 
Purchases, issuances, and settlements
Settlements(41)(215)(15)(271)64 (72)(4)(12)
Net Assets (Liabilities) as of September 30$(5)$29 $19 $43 $(28)$4 $11 $(13)
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)
$(25)$156 $(41)$90 $94 $94 $(36)$152 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$— $— $21 $21 $— $— $10 $10 
_______________________________________
(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,
2024202320242023
(In millions)
Net Assets as of beginning of period$28 $14 $7 $11 
Total gains (losses) recorded in Regulatory liabilities2 (2)29 3 
Purchases, issuances, and settlements
Settlements(9)(2)(15)(4)
Net Assets as of September 30$21 $10 $21 $10 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30$2 $1 $21 $10 
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, 2024
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$108 $(113)Discounted Cash FlowForward basis price (per MMBtu)$(1.28)—$2.44 /MMBtu$(0.13)/MMBtu
Electricity$98 $(69)Discounted Cash FlowForward basis price (per MWh)$(18.51)—$16.65 /MWh$(3.38)/MWh
December 31, 2023
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$179 $(157)Discounted Cash FlowForward basis price (per MMBtu)$(1.57)—$6.27 /MMBtu$(0.08)/MMBtu
Electricity$163 $(116)Discounted Cash FlowForward basis price (per MWh)$(18.49)—$15.47 /MWh$(3.99)/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, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$463 $— $— $501 $175 $— $— $181 
Short-term borrowings$966 $— $966 $— $1,283 $— $1,283 $— 
Notes payable(b)
$15 $— $— $15 $34 $— $— $34 
Long-term debt(c)
$23,635 $828 $20,724 $1,219 $19,546 $807 $16,178 $1,202 
_______________________________________
(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, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$2 $— $— $2 $19 $— $— $19 
Short-term borrowings — affiliates$142 $— $— $142 $— $— $— $— 
Short-term borrowings — other$798 $— $798 $— $385 $— $385 $— 
Notes payable(b)
$14 $— $— $14 $33 $— $— $33 
Long-term debt(c)
$11,899 $— $11,053 $142 $11,043 $— $9,999 $126 
_______________________________________
(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, 2024December 31, 2023
(In millions)
Fermi 2$2,241 $2,026 
Fermi 13 3 
Low-level radioactive waste17 12 
$2,261 $2,041 
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,
2024202320242023
(In millions)
Realized gains$11 $5 $41 $24 
Realized losses$(6)$(6)$(22)$(32)
Proceeds from sale of securities$91 $104 $438 $527 
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, 2024December 31, 2023
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$1,008 $568 $(11)$921 $459 $(11)
Fixed income securities650 22 (21)590 8 (30)
Private equity and other350 102 (8)312 74 (8)
Hedge funds and similar investments222 9 (4)184 4 (9)
Cash equivalents31 — — 34 — — 
$2,261 $701 $(44)$2,041 $545 $(58)
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, 2024
(In millions)
Due within one year$16 
Due after one through five years103 
Due after five through ten years116 
Due after ten years305 
$540 
v3.24.3
Financial and Other Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
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, 2024December 31, 2023
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
  Interest rate contracts $1 $(11)$— $(16)
  Foreign currency exchange contracts— (1)— (2)
Total derivatives designated as hedging instruments$1 $(12)$— $(18)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$399 $(377)$637 $(615)
Electricity191 (171)421 (388)
Environmental & Other93 (62)139 (150)
Foreign currency exchange contracts— — — (1)
Total derivatives not designated as hedging instruments$683 $(610)$1,197 $(1,154)
Current$479 $(411)$910 $(847)
Noncurrent205 (211)287 (325)
Total derivatives$684 $(622)$1,197 $(1,172)
Offsetting Assets
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2024December 31, 2023
(In millions)
Cash collateral netted against Derivative assets$(8)$— 
Cash collateral netted against Derivative liabilities— 72 
Cash collateral recorded in Accounts receivable(a)
93 57 
Cash collateral recorded in Accounts payable(a)
(64)(3)
Total net cash collateral posted (received)$21 $126 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2024December 31, 2023
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$399 $(285)$114 $637 $(416)$221 
Electricity191 (98)93 421 (243)178 
Environmental & Other93 (73)20 139 (132)7 
Interest rate contracts 1 — 1 — — — 
Foreign currency exchange contracts— — — — — — 
Total derivative assets$684 $(456)$228 $1,197 $(791)$406 
Derivative liabilities
Commodity contracts(a)
Natural gas$(377)$277 $(100)$(615)$429 $(186)
Electricity(171)108 (63)(388)297 (91)
Environmental & Other(62)63 1 (150)137 (13)
Interest rate contracts(11)— (11)(16)— (16)
Foreign currency exchange contracts(1)— (1)(3)— (3)
Total derivative liabilities$(622)$448 $(174)$(1,172)$863 $(309)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Offsetting Liabilities
The following table presents net cash collateral offsetting arrangements for DTE Energy:
September 30, 2024December 31, 2023
(In millions)
Cash collateral netted against Derivative assets$(8)$— 
Cash collateral netted against Derivative liabilities— 72 
Cash collateral recorded in Accounts receivable(a)
93 57 
Cash collateral recorded in Accounts payable(a)
(64)(3)
Total net cash collateral posted (received)$21 $126 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
September 30, 2024December 31, 2023
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$399 $(285)$114 $637 $(416)$221 
Electricity191 (98)93 421 (243)178 
Environmental & Other93 (73)20 139 (132)7 
Interest rate contracts 1 — 1 — — — 
Foreign currency exchange contracts— — — — — — 
Total derivative assets$684 $(456)$228 $1,197 $(791)$406 
Derivative liabilities
Commodity contracts(a)
Natural gas$(377)$277 $(100)$(615)$429 $(186)
Electricity(171)108 (63)(388)297 (91)
Environmental & Other(62)63 1 (150)137 (13)
Interest rate contracts(11)— (11)(16)— (16)
Foreign currency exchange contracts(1)— (1)(3)— (3)
Total derivative liabilities$(622)$448 $(174)$(1,172)$863 $(309)
_______________________________________
(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, 2024December 31, 2023
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$479 $205 $(411)$(211)$910 $287 $(847)$(325)
Counterparty netting(317)(131)317 131 (613)(178)613 178 
Collateral adjustment(3)(5)— — — — 57 15 
Total derivatives as reported$159 $69 $(94)$(80)$297 $109 $(177)$(132)
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,
2024202320242023
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(25)$(41)$(49)$89 
Natural gasFuel, purchased power, gas, and other — non-utility45 37 83 120 
ElectricityOperating Revenues — Non-utility operations99 85 189 30 
Environmental & OtherOperating Revenues — Non-utility operations(6)(4)(10)(5)
Foreign currency exchange contractsOperating Revenues — Non-utility operations(1)1 1 — 
Total$112 $78 $214 $234 
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2024:
CommodityNumber of Units
Natural gas (MMBtu)2,128,196,720 
Electricity (MWh)39,767,287 
Oil (Gallons)1,068,000 
Foreign currency exchange ($ CAD)104,219,982 
FTR (MWh)105,362 
Renewable Energy Certificates (MWh)11,677,855 
Carbon emissions (Metric Tons)402,217 
Interest rate contracts ($ USD)700,000,000 
v3.24.3
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Debt Issuances
Refer to the table below for debt issued through September 30, 2024:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE EnergyFebruary
Senior Notes(a)
5.10%2029$1,200 
DTE ElectricFebruary
Mortgage Bonds(b)
4.85%2026500 
DTE ElectricFebruary
Mortgage Bonds(b)
5.20%2034500 
DTE EnergyMay
Senior Notes (c)
5.85%2034850 
DTE EnergyAugust
Senior Notes (d)
4.95%20271,200 
$4,250 
_______________________________________
(a)Proceeds used for the repayment of short-term borrowings and for general corporate purposes.
(b)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.
(c)Proceeds to be used for the repayment of a portion of the $675 million 2016 Series C 2.53% Senior Notes due October 1, 2024, for repayment of a portion of the $1.3 billion 2019 Series F 4.22% Senior Notes due November 1, 2024, and for general corporate purposes. Pending repayment of the 2016 Series C and 2019 Series F Senior Notes, proceeds of the notes were invested in short-term investments.
(d)Proceeds to be used for the repayment of a portion of the $1.3 billion 2019 Series F 4.22% Senior Notes due November 1, 2024 and for general corporate purposes. Pending repayment of the 2019 Series F Senior Notes, a portion of the proceeds of the notes were invested in cash equivalents.
Schedule of Debt Redemptions
Refer to the table below for debt redeemed through September 30, 2024:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricMarchMortgage Bonds3.65%2024$100 
DTE ElectricJuneSecuritization Bonds2.64%202419
DTE ElectricSeptemberSecuritization Bonds5.97%202424 
$143 
v3.24.3
Short-Term Credit Arrangements and Borrowings (Tables)
 9 Months Ended
Sep. 30, 2024
Short-Term Debt [Abstract]  
Schedule of Line of Credit Facilities
The availability under these facilities as of September 30, 2024 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 2025(a)
175 — — $175 
Unsecured letter of credit facility, expiring February 2025150 — — 150 
Unsecured letter of credit facility, expiring June 2026100 — — 100 
Unsecured letter of credit facility(b)
50 — — 50 
Unsecured letter of credit facility(c)
— 125 — 125 
1,975 925 300 3,200 
Amounts outstanding at September 30, 2024
Commercial paper issuances28 798 140 966 
Letters of credit83 92 — 175 
111 890 140 1,141 
Net availability at September 30, 2024$1,864 $35 $160 $2,059 
_______________________________________
(a)Uncommitted letter of credit facility.
(b)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration.
(c)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration. DTE Energy may also utilize availability under this facility.
v3.24.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Components of Net Investment in Finance Leases
The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:
DTE Energy
September 30, 2024
(In millions)
2024$13 
202552 
202651 
202751 
202850 
2029 and thereafter644 
Total minimum future lease receipts861 
Residual value of leased pipeline17 
Less unearned income439 
Net investment in finance lease439 
Less current portion12 
$427 
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,
2024202320242023
(In millions)
Fixed payments$4 $4 $11 $11 
Variable payments15 15 34 33 
$19 $19 $45 $44 
v3.24.3
Retirement Benefits and Trusteed Assets (Tables)
 9 Months Ended
Sep. 30, 2024
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
2024202320242023
(In millions)
Three Months Ended September 30,
Service cost$14 $15 $4 $4 
Interest cost52 54 16 17 
Expected return on plan assets(86)(89)(30)(28)
Amortization of:
Net actuarial loss15 2 2 2 
Prior service credit
— (1)(3)(4)
Net periodic benefit credit
$(5)$(19)$(11)$(9)
Pension BenefitsOther Postretirement Benefits
2024202320242023
(In millions)
Nine Months Ended September 30,
Service cost$43 $43 $13 $13 
Interest cost156 161 47 49 
Expected return on plan assets(256)(264)(90)(83)
Amortization of:
Net actuarial loss44 5 5 7 
Prior service credit(1)(2)(8)(14)
Settlements— 7 — — 
Net periodic benefit credit$(14)$(50)$(33)$(28)
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,
2024202320242023
(In millions)
Service cost$3 $3 $10 $10 
Interest cost11 12 35 37 
Expected return on plan assets(20)(18)(59)(55)
Amortization of:
Net actuarial loss1 — 1 — 
Prior service credit(1)(3)(5)(10)
Net periodic benefit credit$(6)$(6)$(18)$(18)
v3.24.3
Segment and Related Information (Tables)
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
(In millions)
Electric$18 $20 $54 $55 
Gas5 4 12 13 
DTE Vantage7 13 25 32 
Energy Trading21 20 66 65 
Corporate and Other— — — — 
$51 $57 $157 $165 
Financial data of DTE Energy's business segments follows:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In millions)
Operating Revenues — Utility operations
Electric$1,695 $1,623 $4,772 $4,324 
Gas230 227 1,230 1,245 
Operating Revenues — Non-utility operations
Electric2 3 11 10 
DTE Vantage190 199 555 572 
Energy Trading840 893 2,610 3,365 
Corporate and Other— — — — 
Reconciliation and Eliminations(51)(57)(157)(165)
Total$2,906 $2,888 $9,021 $9,351 
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment
Electric$437 $268 $886 $547 
Gas(13)(5)153 190 
DTE Vantage33 56 74 109 
Energy Trading42 65 82 234 
Corporate and Other(22)(52)(83)(102)
Net Income Attributable to DTE Energy Company$477 $332 $1,112 $978 
v3.24.3
Organization and Basis of Presentation (Details Textuals)
customer in Millions, $ in Millions
Sep. 30, 2024
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
v3.24.3
Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
ASSETS      
Cash and cash equivalents   $ 969 $ 26
Restricted cash   54 25
Accounts receivable   1,407 1,632
Securitized regulatory assets   707 758
Total Assets   49,806 44,755
LIABILITIES      
Accounts payable   1,290 1,361
Regulatory liabilities   179 71
DTE Electric      
ASSETS      
Cash and cash equivalents   14 15
Restricted cash   40 17
Securitized regulatory assets   707 758
Total Assets   34,626 32,185
LIABILITIES      
Regulatory liabilities   145 49
Variable interest entity, primary beneficiary      
ASSETS      
Cash and cash equivalents   8 7
Restricted cash   54 25
Accounts receivable   37 85
Securitized regulatory assets   707 758
Notes receivable   634 183
Other current and long-term assets   1 4
Total Assets   1,441 1,062
LIABILITIES      
Accounts payable   21 59
Accrued interest   4 6
Regulatory liabilities   27 8
Securitization bonds   727 769
Other current and long-term liabilities   20 12
Total liabilities   799 854
Notes receivable recorded in Current Assets-Other   12  
Current portion of securitization bonds   71 64
Variable interest entity, primary beneficiary | DTE Electric      
ASSETS      
Cash and cash equivalents   0 0
Restricted cash   40 17
Accounts receivable   7 6
Securitized regulatory assets   707 758
Notes receivable   0 0
Other current and long-term assets   0 1
Total Assets   754 782
LIABILITIES      
Accounts payable   0 0
Accrued interest   4 6
Regulatory liabilities   27 8
Securitization bonds   727 769
Other current and long-term liabilities   0 0
Total liabilities   758 783
Current portion of securitization bonds   $ 71 $ 64
Variable interest entity, primary beneficiary | DTE Vantage      
LIABILITIES      
Increase in notes receivable due to investments related to a large industrial project $ 306    
v3.24.3
Organization and Basis of Presentation (Non-Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]    
Investments in equity method investees $ 135 $ 166
Notes receivable 852 420
Variable interest entity, non-consolidated    
Variable Interest Entity [Line Items]    
Investments in equity method investees 75 112
Notes receivable $ 21 $ 15
v3.24.3
Significant Accounting Policies (Other Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Schedule of Other Nonoperating Income, by Component [Line Items]        
Allowance for equity funds used during construction $ 24 $ 8 $ 62 $ 26
Equity earnings of equity method investees 12 3 36 7
Contract services 8 5 21 18
Investment income 7 0 16 9
Other 3 (3) 11 10
Total other income 54 13 146 70
DTE Electric        
Schedule of Other Nonoperating Income, by Component [Line Items]        
Allowance for equity funds used during construction 23 8 60 25
Contract services 8 6 21 18
Investment income 6 0 13 6
Other 4 2 11 7
Total other income $ 41 $ 16 $ 105 $ 56
v3.24.3
Significant Accounting Policies (Income Taxes) (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
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 5.00% 4.80% 4.30% 4.50%
Investment tax credits (34.20%) (3.80%) (13.60%) (2.60%)
Production tax credits (17.20%) (7.80%) (10.90%) (6.40%)
TCJA regulatory liability amortization (6.20%) (4.90%) (5.10%) (4.20%)
AFUDC equity (1.60%) (0.80%) (1.30%) (0.50%)
Other (0.60%) (2.20%) (0.50%) (2.00%)
Effective Tax Rate (33.80%) 6.30% (6.10%) 9.80%
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 6.20% 5.70% 5.70% 5.70%
Investment tax credits (28.70%) (0.30%) (11.70%) (0.30%)
Production tax credits (19.30%) (11.10%) (13.10%) (9.40%)
TCJA regulatory liability amortization (6.40%) (6.90%) (5.30%) (5.90%)
AFUDC equity (1.90%) (1.10%) (1.60%) (0.70%)
Other (0.50%) (0.50%) (0.30%) (1.20%)
Effective Tax Rate (29.60%) 6.80% (5.30%) 9.20%
v3.24.3
Significant Accounting Policies (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Significant Accounting Policies [Line Items]          
Accounts receivable $ 1,407   $ 1,407   $ 1,632
Unrecognized compensation cost 71   $ 71    
Recognition period (in years)     1 year 6 months    
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 $ 463   $ 463    
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 | Notes receivable          
Significant Accounting Policies [Line Items]          
Financing receivables $ 2   $ 2    
DTE Electric | Notes receivable | Minimum          
Significant Accounting Policies [Line Items]          
Number of days after which receivable is considered delinquent 60 days   60 days    
DTE Electric | Notes receivable | Maximum          
Significant Accounting Policies [Line Items]          
Number of days after which receivable is considered delinquent 120 days   120 days    
DTE Electric | DTE Energy          
Significant Accounting Policies [Line Items]          
Allocated costs $ 9 $ 7 $ 26 $ 27  
DTE Electric | Affiliates          
Significant Accounting Policies [Line Items]          
Accounts receivable 10   10   12
DTE Electric | Affiliates | Federal taxes          
Significant Accounting Policies [Line Items]          
Accounts receivable 8   8   $ 7
DTE Electric | Affiliates | State taxes          
Significant Accounting Policies [Line Items]          
Accounts receivable $ 1   $ 1    
v3.24.3
Significant Accounting Policies (Financing Receivables Classified by Internal Grade of Credit Risk) (Details)
$ in Millions
Sep. 30, 2024
USD ($)
Notes receivable  
Financing receivables by year of origination  
2024 $ 426
2023 8
2022 and Prior 29
Total 463
Notes receivable | DTE Electric  
Financing receivables by year of origination  
Total 2
Notes receivable | Internal grade 1  
Financing receivables by year of origination  
2024 0
2023 1
2022 and Prior 4
Total 5
Notes receivable | Internal grade 1 | DTE Electric  
Financing receivables by year of origination  
Total 1
Notes receivable | Internal grade 2  
Financing receivables by year of origination  
2024 426
2023 7
2022 and Prior 25
Total 458
Notes receivable | Internal grade 2 | DTE Electric  
Financing receivables by year of origination  
Total 1
Net investment in leases  
Financing receivables by year of origination  
2024 160
2023 0
2022 and Prior 279
Total 439
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  
2024 0
2023 0
2022 and Prior 36
Total 36
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  
2024 160
2023 0
2022 and Prior 243
Total 403
Net investment in leases | Internal grade 2 | DTE Electric  
Financing receivables by year of origination  
Total $ 0
v3.24.3
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, 2024
Dec. 31, 2023
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 63 $ 79
Current period provision 64 52
Write-offs charged against allowance (77) (112)
Recoveries of amounts previously written off 32 44
Ending balance 82 63
DTE Electric    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 41 49
Current period provision 42 36
Write-offs charged against allowance (50) (72)
Recoveries of amounts previously written off 20 28
Ending balance 53 41
Trade accounts receivable    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 62 78
Current period provision 64 52
Write-offs charged against allowance (77) (112)
Recoveries of amounts previously written off 32 44
Ending balance 81 62
Other receivables    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 1 1
Current period provision 0 0
Write-offs charged against allowance 0 0
Recoveries of amounts previously written off 0 0
Ending balance $ 1 $ 1
v3.24.3
Significant Accounting Policies (Uncollectible Expense) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Uncollectible expense $ 27 $ 10 $ 65 $ 45
DTE Electric        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Uncollectible expense $ 22 $ 11 $ 43 $ 28
v3.24.3
Revenue (Disaggregation of Revenue By Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]        
Revenues $ 2,906 $ 2,888 $ 9,021 $ 9,351
Operating segments | Electric        
Disaggregation of Revenue [Line Items]        
Revenues 1,697 1,626 4,783 4,334
Operating segments | Electric | Residential        
Disaggregation of Revenue [Line Items]        
Revenues 946 861 2,390 2,173
Operating segments | Electric | Commercial        
Disaggregation of Revenue [Line Items]        
Revenues 632 585 1,759 1,604
Operating segments | Electric | Industrial        
Disaggregation of Revenue [Line Items]        
Revenues 189 190 559 545
Operating segments | Electric | Other        
Disaggregation of Revenue [Line Items]        
Revenues (70) (10) 75 12
Operating segments | Electric | Other | DTE Sustainable Generation        
Disaggregation of Revenue [Line Items]        
Revenues 2 3 11 10
Operating segments | Gas        
Disaggregation of Revenue [Line Items]        
Revenues 230 227 1,230 1,245
Operating segments | Gas | Gas sales        
Disaggregation of Revenue [Line Items]        
Revenues 125 119 891 936
Operating segments | Gas | End User Transportation        
Disaggregation of Revenue [Line Items]        
Revenues 45 44 180 184
Operating segments | Gas | Intermediate Transportation        
Disaggregation of Revenue [Line Items]        
Revenues 15 16 60 63
Operating segments | Gas | Other        
Disaggregation of Revenue [Line Items]        
Revenues 45 48 99 62
Operating segments | DTE Vantage        
Disaggregation of Revenue [Line Items]        
Revenues 190 199 555 572
Operating segments | Energy Trading        
Disaggregation of Revenue [Line Items]        
Revenues $ 840 $ 893 $ 2,610 $ 3,365
v3.24.3
Revenue (Revenues Outside the Scope of Topic 606) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]        
Leases $ 19 $ 19 $ 45 $ 44
Operating segments | Electric        
Disaggregation of Revenue [Line Items]        
Other revenues 11 8 20 18
Operating segments | Gas        
Disaggregation of Revenue [Line Items]        
Other revenues 3 2 9 7
Alternative Revenue Program 1 0 9 4
Operating segments | DTE Vantage        
Disaggregation of Revenue [Line Items]        
Leases 19 19 45 44
Operating segments | Energy Trading        
Disaggregation of Revenue [Line Items]        
Derivatives $ 536 $ 670 $ 1,781 $ 2,527
v3.24.3
Revenue (Deferred Revenue Activity) (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Contract Liability [Roll Forward]    
Beginning Balance $ 106 $ 94
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 143 113
Revenue recognized that was included in the deferred revenue balance at the beginning of the period (34) (42)
Ending Balance $ 215 $ 165
v3.24.3
Revenue (Expected Recognition of Deferred Revenue) (Details) - Deferred revenue
$ in Millions
Sep. 30, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 215
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 121
Remaining performance obligation, expected timing of satisfaction 3 months
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 $ 92
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 $ 1
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 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction
v3.24.3
Revenue (Expected Timing of Performance Obligation Satisfaction) (Details) - Fixed-price Contract
$ in Millions
Sep. 30, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1,057
DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation 3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 47
Remaining performance obligation, expected timing of satisfaction 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | 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]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 228
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 $ 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 $ 166
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 $ 127
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 $ 87
Remaining performance obligation, expected timing of satisfaction 1 year
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 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 402
Remaining performance obligation, expected timing of satisfaction
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction
v3.24.3
Regulatory Matters (Details Textuals) - MPSC - USD ($)
$ in Millions
Mar. 28, 2024
Jan. 08, 2024
2024 DTE Gas Rate Case Filing | DTE Gas    
Public Utilities, General Disclosures [Line Items]    
Requested rate increase   $ 266
Approved return on equity percent   9.90%
Return on equity requested percent   10.25%
2024 DTE Gas Rate Case Filing | DTE Gas | Recovery Mechanism, Customer Rate Increase    
Public Utilities, General Disclosures [Line Items]    
Requested rate increase   $ 160
2024 DTE Gas Rate Case Filing | DTE Gas | Recovery Mechanism, Infrastructure Recovery    
Public Utilities, General Disclosures [Line Items]    
Requested rate increase   $ 106
2024 DTE Electric Rate Case Filing | DTE Electric    
Public Utilities, General Disclosures [Line Items]    
Requested rate increase $ 456  
Approved return on equity percent 9.90%  
Return on equity requested percent 10.50%  
v3.24.3
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Basic Earnings per Share        
Net Income Attributable to DTE Energy Company $ 477 $ 332 $ 1,112 $ 978
Less: Allocation of earnings to net restricted stock awards 2 0 3 2
Net income available to common shareholders — basic $ 475 $ 332 $ 1,109 $ 976
Average number of common shares outstanding — basic (in shares) 207 206 207 206
Basic Earnings per Common Share (in dollars per share) $ 2.30 $ 1.61 $ 5.37 $ 4.74
Diluted Earnings per Share        
Net Income Attributable to DTE Energy Company $ 477 $ 332 $ 1,112 $ 978
Less: Allocation of earnings to net restricted stock awards 2 0 3 2
Net income available to common shareholders — diluted $ 475 $ 332 $ 1,109 $ 976
Average number of common shares outstanding — basic (in shares) 207 206 207 206
Average performance share awards (in shares) 0 0 0 0
Average number of common shares outstanding — diluted (in shares) 207 206 207 206
Diluted Earnings per Common Share (in dollars per share) $ 2.30 $ 1.61 $ 5.36 $ 4.74
v3.24.3
Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Derivative assets    
Derivative assets, gross $ 684 $ 1,197
Derivative asset, netting (456) (791)
Derivative liabilities    
Derivative liabilities, gross (622) (1,172)
Derivative liability, netting 448 863
DTE Electric    
Assets    
Nuclear decommissioning trusts 2,261 2,041
Current liabilities    
Derivative liabilities    
Derivative liabilities, gross (411) (847)
Noncurrent liabilities    
Derivative liabilities    
Derivative liabilities, gross (211) (325)
Natural gas    
Derivative assets    
Derivative assets, gross 399 637
Derivative asset, netting (285) (416)
Derivative liabilities    
Derivative liabilities, gross (377) (615)
Derivative liability, netting 277 429
Electricity    
Derivative assets    
Derivative assets, gross 191 421
Derivative asset, netting (98) (243)
Derivative liabilities    
Derivative liabilities, gross (171) (388)
Derivative liability, netting 108 297
Environmental & Other    
Derivative assets    
Derivative assets, gross 93 139
Derivative asset, netting (73) (132)
Derivative liabilities    
Derivative liabilities, gross (62) (150)
Derivative liability, netting 63 137
Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 31 34
Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 350 312
Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 222 184
Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 1,008 921
Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 650 590
Recurring    
Assets    
Cash equivalents 962 13
Derivative assets    
Derivative asset, netting (456) (791)
Derivative assets, net 228 406
Total Assets 4,629 2,562
Derivative liabilities    
Derivative liability, netting 448 863
Total Liabilities (174) (309)
Net Assets (Liabilities) at end of period 4,455 2,253
Net Assets at end of period, netting (8) 72
Recurring | DTE Electric    
Assets    
Cash equivalents 21 11
Derivative assets    
Total Assets 2,348 2,091
Recurring | Current assets    
Derivative assets    
Derivative asset, netting (320) (613)
Total Assets 2,192 310
Recurring | Current assets | DTE Electric    
Derivative assets    
Total Assets 42 18
Recurring | Noncurrent assets    
Derivative assets    
Derivative asset, netting (136) (178)
Total Assets 2,437 2,252
Recurring | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 2,306 2,073
Recurring | Current liabilities    
Derivative liabilities    
Derivative liability, netting 317 670
Total Liabilities (94) (177)
Recurring | Noncurrent liabilities    
Derivative liabilities    
Derivative liability, netting 131 193
Total Liabilities (80) (132)
Recurring | Restricted cash    
Assets    
Cash equivalents 21 11
Recurring | Restricted cash | DTE Electric    
Assets    
Cash equivalents 21 11
Recurring | Natural gas    
Derivative assets    
Derivative asset, netting (285) (416)
Derivative assets, net 114 221
Derivative liabilities    
Derivative liability, netting 277 429
Derivative liabilities, net (100) (186)
Recurring | Electricity    
Derivative assets    
Derivative asset, netting (98) (243)
Derivative assets, net 93 178
Derivative liabilities    
Derivative liability, netting 108 297
Derivative liabilities, net (63) (91)
Recurring | Environmental & Other    
Derivative assets    
Derivative asset, netting (73) (132)
Derivative assets, net 20 7
Derivative liabilities    
Derivative liability, netting 63 137
Derivative liabilities, net 1 (13)
Recurring | Other contracts    
Derivative assets    
Derivative assets, net 1 0
Derivative liabilities    
Derivative liabilities, net (12) (19)
Recurring | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 21 7
Recurring | Cash equivalents    
Assets    
Nuclear decommissioning trusts 31 34
Other investments 28 37
Recurring | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 31 34
Other investments 19 11
Recurring | Private equity and other    
Assets    
Nuclear decommissioning trusts 350 312
Recurring | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 350 312
Recurring | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 222 184
Recurring | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 222 184
Recurring | Equity securities    
Assets    
Nuclear decommissioning trusts 1,008 921
Other investments 71 58
Recurring | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 1,008 921
Other investments 26 21
Recurring | Fixed income securities    
Assets    
Nuclear decommissioning trusts 650 590
Other investments 8 7
Recurring | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 650 590
Recurring | Other    
Assets    
Other investments 1,071 0
Recurring | Level 1    
Assets    
Cash equivalents 29 13
Derivative assets    
Derivative assets, gross 116 241
Total Assets 1,424 1,412
Derivative liabilities    
Total Liabilities (140) (291)
Net Assets (Liabilities) at end of period 1,284 1,121
Recurring | Level 1 | DTE Electric    
Assets    
Cash equivalents 21 11
Derivative assets    
Total Assets 1,238 1,099
Recurring | Level 1 | Current assets    
Derivative assets    
Total Assets 111 215
Recurring | Level 1 | Current assets | DTE Electric    
Derivative assets    
Total Assets 21 11
Recurring | Level 1 | Noncurrent assets    
Derivative assets    
Total Assets 1,313 1,197
Recurring | Level 1 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 1,217 1,088
Recurring | Level 1 | Current liabilities    
Derivative liabilities    
Total Liabilities (103) (240)
Recurring | Level 1 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (37) (51)
Recurring | Level 1 | Natural gas    
Derivative assets    
Derivative assets, gross 116 241
Derivative liabilities    
Derivative liabilities, gross (140) (291)
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 contracts    
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 31 34
Other investments 28 37
Recurring | Level 1 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 31 34
Other investments 19 11
Recurring | Level 1 | Private equity and other    
Assets    
Nuclear decommissioning trusts 15 0
Recurring | Level 1 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 15 0
Recurring | Level 1 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 141 119
Recurring | Level 1 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 141 119
Recurring | Level 1 | Equity securities    
Assets    
Nuclear decommissioning trusts 860 776
Other investments 71 58
Recurring | Level 1 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 860 776
Other investments 26 21
Recurring | Level 1 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 125 127
Other investments 8 7
Recurring | Level 1 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 125 127
Recurring | Level 1 | Other    
Assets    
Other investments 0 0
Recurring | Level 2    
Assets    
Cash equivalents 933 0
Derivative assets    
Derivative assets, gross 340 606
Total Assets 2,840 1,042
Derivative liabilities    
Total Liabilities (297) (606)
Net Assets (Liabilities) at end of period 2,543 436
Recurring | Level 2 | DTE Electric    
Assets    
Cash equivalents 0 0
Derivative assets    
Total Assets 496 436
Recurring | Level 2 | Current assets    
Derivative assets    
Total Assets 2,250 461
Recurring | Level 2 | Current assets | DTE Electric    
Derivative assets    
Total Assets 0 0
Recurring | Level 2 | Noncurrent assets    
Derivative assets    
Total Assets 590 581
Recurring | Level 2 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 496 436
Recurring | Level 2 | Current liabilities    
Derivative liabilities    
Total Liabilities (212) (462)
Recurring | Level 2 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (85) (144)
Recurring | Level 2 | Natural gas    
Derivative assets    
Derivative assets, gross 175 217
Derivative liabilities    
Derivative liabilities, gross (124) (167)
Recurring | Level 2 | Electricity    
Derivative assets    
Derivative assets, gross 93 258
Derivative liabilities    
Derivative liabilities, gross (102) (272)
Recurring | Level 2 | Environmental & Other    
Derivative assets    
Derivative assets, gross 71 131
Derivative liabilities    
Derivative liabilities, gross (59) (148)
Recurring | Level 2 | Other contracts    
Derivative assets    
Derivative assets, gross 1 0
Derivative liabilities    
Derivative liabilities, gross (12) (19)
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 81 65
Recurring | Level 2 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 81 65
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 415 371
Other investments 0 0
Recurring | Level 2 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 415 371
Recurring | Level 2 | Other    
Assets    
Other investments 1,071 0
Recurring | Level 3    
Assets    
Cash equivalents 0 0
Derivative assets    
Derivative assets, gross 228 350
Total Assets 228 350
Derivative liabilities    
Total Liabilities (185) (275)
Net Assets (Liabilities) at end of period 43 75
Recurring | Level 3 | DTE Electric    
Assets    
Cash equivalents 0 0
Derivative assets    
Total Assets 21 7
Recurring | Level 3 | Current assets    
Derivative assets    
Total Assets 151 247
Recurring | Level 3 | Current assets | DTE Electric    
Derivative assets    
Total Assets 21 7
Recurring | Level 3 | Noncurrent assets    
Derivative assets    
Total Assets 77 103
Recurring | Level 3 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 0 0
Recurring | Level 3 | Current liabilities    
Derivative liabilities    
Total Liabilities (96) (145)
Recurring | Level 3 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (89) (130)
Recurring | Level 3 | Natural gas    
Derivative assets    
Derivative assets, gross 108 179
Derivative liabilities    
Derivative liabilities, gross (113) (157)
Recurring | Level 3 | Electricity    
Derivative assets    
Derivative assets, gross 98 163
Derivative liabilities    
Derivative liabilities, gross (69) (116)
Recurring | Level 3 | Environmental & Other    
Derivative assets    
Derivative assets, gross 22 8
Derivative liabilities    
Derivative liabilities, gross (3) (2)
Recurring | Level 3 | Other contracts    
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 21 7
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 | Level 3 | Other    
Assets    
Other investments 0 0
Recurring | Other    
Derivative assets    
Total Assets 593 549
Derivative liabilities    
Net Assets (Liabilities) at end of period 593 549
Recurring | Other | DTE Electric    
Derivative assets    
Total Assets 593 549
Recurring | Other | Noncurrent assets    
Derivative assets    
Total Assets 593 549
Recurring | Other | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 593 549
Recurring | Other | Private equity and other    
Assets    
Nuclear decommissioning trusts 335 312
Recurring | Other | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 335 312
Recurring | Other | Equity securities    
Assets    
Nuclear decommissioning trusts 148 145
Recurring | Other | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 148 145
Recurring | Other | Fixed income securities    
Assets    
Nuclear decommissioning trusts 110 92
Recurring | Other | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts $ 110 $ 92
v3.24.3
Fair Value (Details Textuals) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Current investments $ 1,071 $ 0
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 $ 110  
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 $ 142 $ 157
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  
v3.24.3
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, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Net Assets (Liabilities) as of beginning of period $ 38 $ (42) $ 75 $ (277)
Transfers into Level 3 from Level 2 2 0 2 0
Total gains (losses)        
Included in earnings 112 79 208 273
Recorded in Regulatory liabilities 2 (2) 29 3
Purchases, issuances, and settlements        
Settlements (111) (48) (271) (12)
Net Assets (Liabilities) as of end of period 43 (13) 43 (13)
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 59 24 90 152
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 2 1 21 10
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 28 14 7 11
Total gains (losses)        
Recorded in Regulatory liabilities 2 (2) 29 3
Purchases, issuances, and settlements        
Settlements (9) (2) (15) (4)
Net Assets (Liabilities) as of end of period 21 10 21 10
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 2 1 21 10
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 3 (54) 22 (255)
Transfers into Level 3 from Level 2 0 0 1 0
Total gains (losses)        
Included in earnings 7 1 13 163
Recorded in Regulatory liabilities 0 0 0 0
Purchases, issuances, and settlements        
Settlements (15) 25 (41) 64
Net Assets (Liabilities) as of end of period (5) (28) (5) (28)
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) 4 (25) 94
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 9 (4) 47 (33)
Transfers into Level 3 from Level 2 2 0 1 0
Total gains (losses)        
Included in earnings 105 79 196 109
Recorded in Regulatory liabilities 0 0 0 0
Purchases, issuances, and settlements        
Settlements (87) (71) (215) (72)
Net Assets (Liabilities) as of end of period 29 4 29 4
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 75 26 156 94
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 26 16 6 11
Transfers into Level 3 from Level 2 0 0 0 0
Total gains (losses)        
Included in earnings 0 (1) (1) 1
Recorded in Regulatory liabilities 2 (2) 29 3
Purchases, issuances, and settlements        
Settlements (9) (2) (15) (4)
Net Assets (Liabilities) as of end of period 19 11 19 11
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 (10) (6) (41) (36)
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 $ 2 $ 1 $ 21 $ 10
v3.24.3
Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details)
$ in Millions
Sep. 30, 2024
USD ($)
$ / MMBTU
$ / MWh
Dec. 31, 2023
USD ($)
$ / MMBTU
$ / MWh
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 684 $ 1,197
Derivative Liabilities (622) (1,172)
Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 399 637
Derivative Liabilities (377) (615)
Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 191 421
Derivative Liabilities $ (171) $ (388)
Level 3 | Natural gas | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU (1.28) (1.57)
Level 3 | Natural gas | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU 2.44 6.27
Level 3 | Natural gas | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU (0.13) (0.08)
Level 3 | Electricity | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (18.51) (18.49)
Level 3 | Electricity | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh 16.65 15.47
Level 3 | Electricity | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (3.38) (3.99)
Recurring | Level 3    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 228 $ 350
Recurring | Level 3 | Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 108 179
Derivative Liabilities (113) (157)
Recurring | Level 3 | Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 98 163
Derivative Liabilities $ (69) $ (116)
v3.24.3
Fair Value (Fair Value of Financial Instruments) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Carrying amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable $ 463 $ 175
Short-term borrowings 966 1,283
Notes payable 15 34
Long-term debt 23,635 19,546
Carrying amount | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 2 19
Notes payable 14 33
Long-term debt 11,899 11,043
Carrying amount | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 142 0
Carrying amount | DTE Electric | Customer/ Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 798 385
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 828 807
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 | Customer/ 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 966 1,283
Notes payable 0 0
Long-term debt 20,724 16,178
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 11,053 9,999
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 | Customer/ Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 798 385
Fair value | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 501 181
Short-term borrowings 0 0
Notes payable 15 34
Long-term debt 1,219 1,202
Fair value | Level 3 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 2 19
Notes payable 14 33
Long-term debt 142 126
Fair value | Level 3 | DTE Electric | Affiliates    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings 142 0
Fair value | Level 3 | DTE Electric | Customer/ Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term borrowings $ 0 $ 0
v3.24.3
Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds $ 2,261 $ 2,041
DTE Electric    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 2,261 2,041
DTE Electric | Nuclear decommissioning trust fund    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 2,261 2,041
DTE Electric | Nuclear decommissioning trust fund | Fermi 2    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 2,241 2,026
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 $ 17 $ 12
v3.24.3
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, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Debt Securities, Available-for-sale [Line Items]        
Realized gains $ 11 $ 5 $ 41 $ 24
Realized losses (6) (6) (22) (32)
Proceeds from sale of securities $ 91 $ 104 $ 438 $ 527
v3.24.3
Fair Value (Fair Value and Unrealized Gains and Losses for the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]    
Fair Value $ 2,261 $ 2,041
Unrealized Gains 701 545
Unrealized Losses (44) (58)
Cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 31 34
Unrealized Gains 0 0
Unrealized Losses 0 0
Private equity and other    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 350 312
Unrealized Gains 102 74
Unrealized Losses (8) (8)
Hedge funds and similar investments    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 222 184
Unrealized Gains 9 4
Unrealized Losses (4) (9)
Equity securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 1,008 921
Unrealized Gains 568 459
Unrealized Losses (11) (11)
Fixed income securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 650 590
Unrealized Gains 22 8
Unrealized Losses $ (21) $ (30)
v3.24.3
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, 2024
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due within one year $ 16
Due after one through five years 103
Due after five through ten years 116
Due after ten years 305
Fixed income securities total $ 540
v3.24.3
Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 684 $ 1,197
Derivative Liabilities (622) (1,172)
Current derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 479 910
Current derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (411) (847)
Noncurrent derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 205 287
Noncurrent derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (211) (325)
Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1 0
Derivative Liabilities (11) (16)
Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0 0
Derivative Liabilities (1) (3)
Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 399 637
Derivative Liabilities (377) (615)
Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 191 421
Derivative Liabilities (171) (388)
Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 93 139
Derivative Liabilities (62) (150)
Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1 0
Derivative Liabilities (12) (18)
Derivatives designated as hedging instruments | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1 0
Derivative Liabilities (11) (16)
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 683 1,197
Derivative Liabilities (610) (1,154)
Derivatives not designated as hedging instruments | Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 0 0
Derivative Liabilities 0 (1)
Derivatives not designated as hedging instruments | Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 399 637
Derivative Liabilities (377) (615)
Derivatives not designated as hedging instruments | Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 191 421
Derivative Liabilities (171) (388)
Derivatives not designated as hedging instruments | Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 93 139
Derivative Liabilities (62) (150)
Derivatives not designated as hedging instruments | FTRs | Other current assets | DTE Electric    
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 21 $ 7
v3.24.3
Financial and Other Derivative Instruments (Details Textuals) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Letters of credit issued that could be used to offset net derivative liabilities $ 2 $ 3
Letters of credit received that could be used to offset net derivative assets 1 $ 10
Contractual obligation to post collateral in event of downgrade to below investment grade 420  
Derivative net liability position aggregate fair value 482  
Collateral already posted fair value 0  
Derivative net asset position, fair value 435  
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions $ 47  
v3.24.3
Financial and Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Cash collateral netted against Derivative assets $ (8) $ 0
Cash collateral netted against Derivative liabilities 0 72
Cash collateral recorded in Accounts receivable 93 57
Cash collateral recorded in Accounts payable (64) (3)
Total net cash collateral posted (received) $ 21 $ 126
v3.24.3
Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilities) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) $ 684 $ 1,197
Gross Amounts Offset in the Consolidated Statements of Financial Position (456) (791)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 228 406
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (622) (1,172)
Gross Amounts Offset in the Consolidated Statements of Financial Position 448 863
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (174) (309)
Natural gas    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 399 637
Gross Amounts Offset in the Consolidated Statements of Financial Position (285) (416)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 114 221
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (377) (615)
Gross Amounts Offset in the Consolidated Statements of Financial Position 277 429
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (100) (186)
Electricity    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 191 421
Gross Amounts Offset in the Consolidated Statements of Financial Position (98) (243)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 93 178
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (171) (388)
Gross Amounts Offset in the Consolidated Statements of Financial Position 108 297
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (63) (91)
Environmental & Other    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 93 139
Gross Amounts Offset in the Consolidated Statements of Financial Position (73) (132)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 20 7
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (62) (150)
Gross Amounts Offset in the Consolidated Statements of Financial Position 63 137
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 1 (13)
Interest rate contracts    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 1 0
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 1 0
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (11) (16)
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 (11) (16)
Foreign currency exchange contracts    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 0 0
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 0 0
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (1) (3)
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 $ (1) $ (3)
v3.24.3
Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Derivative Assets    
Derivative Assets $ 684 $ 1,197
Collateral adjustment (8) 0
Derivative assets, current 159 297
Derivative assets, noncurrent 69 109
Derivative Liabilities    
Derivative Liabilities (622) (1,172)
Collateral adjustment 0 72
Derivative liabilities, current (94) (177)
Derivative liabilities, noncurrent (80) (132)
Current derivative assets    
Derivative Assets    
Derivative Assets 479 910
Counterparty netting (317) (613)
Collateral adjustment (3) 0
Noncurrent derivative assets    
Derivative Assets    
Derivative Assets 205 287
Counterparty netting (131) (178)
Collateral adjustment (5) 0
Current derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (411) (847)
Counterparty netting 317 613
Collateral adjustment 0 57
Noncurrent derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (211) (325)
Counterparty netting 131 178
Collateral adjustment $ 0 $ 15
v3.24.3
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, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives $ 112 $ 78 $ 214 $ 234
Natural gas | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives (25) (41) (49) 89
Natural gas | Fuel, purchased power, gas, and other — non-utility        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives 45 37 83 120
Electricity | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives 99 85 189 30
Environmental & Other | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives (6) (4) (10) (5)
Foreign currency exchange contracts | Operating Revenues — Non-utility operations        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) Recognized in Income on Derivatives $ (1) $ 1 $ 1 $ 0
v3.24.3
Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details) - 9 months ended Sep. 30, 2024
CAD ($)
MMBTU
MWh
T
gal
USD ($)
Natural gas (MMBtu)    
Derivative [Line Items]    
Commodity, energy measures | MMBTU 2,128,196,720  
Electricity (MWh)    
Derivative [Line Items]    
Commodity, energy measures 39,767,287  
Oil (Gallons)    
Derivative [Line Items]    
Commodity, volume measure | gal 1,068,000  
Foreign currency exchange ($ CAD)    
Derivative [Line Items]    
Commodity, monetary measure | $ $ 104,219,982  
FTR (MWh)    
Derivative [Line Items]    
Commodity, energy measures 105,362  
Renewable Energy Certificates (MWh)    
Derivative [Line Items]    
Commodity, energy measures 11,677,855  
Carbon emissions (Metric Tons)    
Derivative [Line Items]    
Commodity, mass measure | T 402,217  
Interest rate contracts ($ USD)    
Derivative [Line Items]    
Commodity, monetary measure | $   $ 700,000,000
v3.24.3
Long-Term Debt (Schedule of Issued Debt) (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Aug. 31, 2024
May 31, 2024
Feb. 29, 2024
Debt Instrument [Line Items]        
Amount $ 4,250      
Senior Notes | February 2024 5.10% Senior Notes maturing in 2029        
Debt Instrument [Line Items]        
Interest rate       5.10%
Amount       $ 1,200
Senior Notes | May 2024 5.85% Senior Notes maturing In 2034        
Debt Instrument [Line Items]        
Interest rate     5.85%  
Amount     $ 850  
Senior Notes | Series C 2.53% Senior Notes Due October 1, 2024        
Debt Instrument [Line Items]        
Interest rate 2.53%      
Amount $ 675      
Senior Notes | Series F 4.22% Senior Notes Due November 1, 2024        
Debt Instrument [Line Items]        
Interest rate 4.22%      
Amount $ 1,300      
Senior Notes | August 2024 4.95% Senior Notes        
Debt Instrument [Line Items]        
Interest rate   4.95%    
Amount   $ 1,200    
DTE Electric | Mortgage Bonds | February 2024 4.85% Mortgage Bonds maturing in 2026        
Debt Instrument [Line Items]        
Interest rate       4.85%
Amount       $ 500
DTE Electric | Mortgage Bonds | February 2024 5.20% Mortgage Bonds maturing in 2034        
Debt Instrument [Line Items]        
Interest rate       5.20%
Amount       $ 500
v3.24.3
Long-Term Debt (Details Textuals) - USD ($)
Oct. 24, 2024
Sep. 30, 2024
Debt Instrument [Line Items]    
Face amount issued   $ 4,250,000,000
Senior Notes | Series C 2.53% Senior Notes Due October 1, 2024    
Debt Instrument [Line Items]    
Face amount issued   $ 675,000,000
Interest rate   2.53%
Senior Notes | Series C 2.53% Senior Notes Due October 1, 2024 | Subsequent Event    
Debt Instrument [Line Items]    
Face amount issued $ 675,000,000  
Interest rate 2.53%  
DTE Gas | Mortgage Bonds | October 2024, First Mortgage Bonds Due November 2034 | Subsequent Event    
Debt Instrument [Line Items]    
Face amount issued $ 160,000,000  
Interest rate 4.87%  
DTE Gas | Mortgage Bonds | October2024 First Mortgage Bonds Due November 2054 | Subsequent Event    
Debt Instrument [Line Items]    
Face amount issued $ 160,000,000  
Interest rate 5.43%  
v3.24.3
Long-Term Debt (Schedule of Debt Redeemed) (Details) - USD ($)
$ in Millions
 1 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2024
Sep. 30, 2023
Debt Instrument, Redemption [Line Items]          
Amount       $ 143 $ 1,146
DTE Electric          
Debt Instrument, Redemption [Line Items]          
Amount       $ 143 $ 121
DTE Electric | Mortgage Bonds | 2013 Series B Mortgage Bonds          
Debt Instrument, Redemption [Line Items]          
Interest rate     3.65%    
Amount     $ 100    
DTE Electric | Securitization Bonds | 2.64% Securitization Bonds          
Debt Instrument, Redemption [Line Items]          
Interest rate   2.64%      
Amount   $ 19      
DTE Electric | Securitization Bonds | 5.97% Securitization Bonds Due 2024          
Debt Instrument, Redemption [Line Items]          
Interest rate 5.97%     5.97%  
Amount $ 24        
v3.24.3
Short-Term Credit Arrangements and Borrowings (Details Textuals)
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Short-term Debt [Line Items]    
Maximum borrowing capacity $ 3,200,000,000  
DTE Electric    
Short-term Debt [Line Items]    
Maximum borrowing capacity $ 925,000,000  
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  
DTE Energy    
Short-term Debt [Line Items]    
Maximum borrowing capacity $ 1,975,000,000  
Ratio of indebtedness to net capital 0.66  
DTE Energy | Demand financing agreement    
Short-term Debt [Line Items]    
Maximum borrowing capacity, financing agreement $ 200,000,000  
Amount outstanding $ 133,000,000 $ 152,000,000
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  
v3.24.3
Short-Term Credit Arrangements and Borrowings (Details)
$ in Millions
Sep. 30, 2024
USD ($)
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity $ 3,200
Amounts outstanding 1,141
Net availability 2,059
DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 925
Amounts outstanding 890
Net availability 35
DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 300
Amounts outstanding 140
Net availability 160
DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 1,975
Amounts outstanding 111
Net availability 1,864
Letters of credit  
Line Of Credit Facility [Line Items]  
Amounts outstanding 175
Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Amounts outstanding 92
Letters of credit | DTE Gas  
Line Of Credit Facility [Line Items]  
Amounts outstanding 0
Letters of credit | DTE Energy  
Line Of Credit Facility [Line Items]  
Amounts outstanding 83
Commercial paper issuances  
Line Of Credit Facility [Line Items]  
Amounts outstanding 966
Commercial paper issuances | DTE Electric  
Line Of Credit Facility [Line Items]  
Amounts outstanding 798
Commercial paper issuances | DTE Gas  
Line Of Credit Facility [Line Items]  
Amounts outstanding 140
Commercial paper issuances | DTE Energy  
Line Of Credit Facility [Line Items]  
Amounts outstanding 28
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 2,600
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 800
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings | DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 300
Unsecured revolving credit facility, expiring October 2028 | Revolver borrowings | DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 1,500
Unsecured letter of credit facility, expiring in June 2025 | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 175
Unsecured letter of credit facility, expiring in June 2025 | Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring in June 2025 | Letters of credit | DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring in June 2025 | Letters of credit | DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 175
Unsecured letter of credit facility, expiring February 2025 | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 150
Unsecured letter of credit facility, expiring February 2025 | Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring February 2025 | Letters of credit | DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring February 2025 | Letters of credit | DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 150
Unsecured letter of credit facility, expiring June 2026 | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 100
Unsecured letter of credit facility, expiring June 2026 | Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring June 2026 | Letters of credit | DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring June 2026 | Letters of credit | DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 100
Unsecured letter of credit facilities | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 50
Unsecured letter of credit facilities | Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facilities | Letters of credit | DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facilities | Letters of credit | DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 50
Unsecured letter of credit facility | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 125
Unsecured letter of credit facility | Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 125
Unsecured letter of credit facility | Letters of credit | DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility | Letters of credit | DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity $ 0
v3.24.3
Leases (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Mar. 31, 2024
Lessor, Lease, Description [Line Items]          
Interest income recognized under finance leases $ 10 $ 6 $ 27 $ 20  
Infrastructure Assets, 20-Year Term Ending in 2044          
Lessor, Lease, Description [Line Items]          
Finance lease agreement, term         20 years
Net investment in finance lease $ 157   $ 157    
v3.24.3
Leases (Components of Net Investment in Finance Leases) (Details)
$ in Millions
Sep. 30, 2024
USD ($)
Leases [Abstract]  
2024 $ 13
2025 52
2026 51
2027 51
2028 50
2029 and thereafter 644
Total minimum future lease receipts 861
Residual value of leased pipeline 17
Less unearned income 439
Net investment in finance lease 439
Less current portion 12
Net investment in finance leases $ 427
v3.24.3
Leases (Lease Income Associated with Operating Leases) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Leases [Abstract]        
Fixed payments $ 4 $ 4 $ 11 $ 11
Variable payments 15 15 34 33
Total lease income under operating leases $ 19 $ 19 $ 45 $ 44
v3.24.3
Commitments and Contingencies (Details)
 1 Months Ended 9 Months Ended
Jun. 30, 2022
USD ($)
Sep. 30, 2024
USD ($)
employee
site
Dec. 31, 2023
USD ($)
Loss Contingencies [Line Items]      
Asset retirement obligations   $ 3,899,000,000 $ 3,556,000,000
Estimated capital expenditures for current fiscal year   $ 4,700,000,000  
Workforce subject to collective bargaining arrangements | Labor force concentration risk      
Loss Contingencies [Line Items]      
Number of employees | employee   4,800  
Percentage of total employees   51.00%  
Workforce subject to collective bargaining arrangements expiring within one year | Labor force concentration risk      
Loss Contingencies [Line Items]      
Percentage of total employees   8.00%  
Reduced emissions fuel guarantees      
Loss Contingencies [Line Items]      
Number of days after expiration of statutes of limitations   90 days  
Maximum potential liability   $ 216,000,000  
Other guarantees      
Loss Contingencies [Line Items]      
Maximum potential liability   69,000,000  
Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   360,000,000  
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 9,000,000
Asset retirement obligations   3,659,000,000 3,326,000,000
Estimated capital expenditures for current fiscal year   $ 3,400,000,000  
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   2,500  
Percentage of total employees   59.00%  
DTE Electric | Workforce subject to collective bargaining arrangements expiring within one year | Labor force concentration risk      
Loss Contingencies [Line Items]      
Percentage of total employees   8.00%  
DTE Electric | Minimum | Ludington Plant Contract Dispute | Pending litigation      
Loss Contingencies [Line Items]      
Estimated impact of loss contingency   $ 350,000,000  
DTE Electric | Maximum | Ludington Plant Contract Dispute | Pending litigation      
Loss Contingencies [Line Items]      
Estimated impact of loss contingency   400,000,000  
DTE Electric | Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   185,000,000  
DTE Electric | EPA Regulations and Clean Water Act Section 316(b), capital expenditures      
Loss Contingencies [Line Items]      
Estimated impact of loss contingency   3,000,000  
DTE Electric | Legacy CCR Surface Impoundments And CCR Management Units      
Loss Contingencies [Line Items]      
Asset retirement obligations   210,000,000  
DTE Electric | Coal Combustion Residual and Effluent Limitations Guidelines Rules, capital expenditures      
Loss Contingencies [Line Items]      
Estimated impact of loss contingency   413,000,000  
Estimated impact of the environmental rules through 2028   $ 403,000,000  
DTE Gas      
Loss Contingencies [Line Items]      
Number of former MGP sites | site   14  
Accrued for remediation   $ 25,000,000 $ 26,000,000
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    
v3.24.3
Retirement Benefits and Trusteed Assets (Net Periodic Benefit Costs (Credits) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pension Benefits        
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 14 $ 15 $ 43 $ 43
Interest cost 52 54 156 161
Expected return on plan assets (86) (89) (256) (264)
Amortization of net actuarial loss 15 2 44 5
Amortization of prior service credit 0 (1) (1) (2)
Settlements     0 7
Net periodic benefit credit (5) (19) (14) (50)
Pension Benefits | DTE Electric        
Defined Benefit Plan Disclosure [Line Items]        
Net periodic benefit credit (1) (12) (4) (28)
Other Postretirement Benefits        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 4 4 13 13
Interest cost 16 17 47 49
Expected return on plan assets (30) (28) (90) (83)
Amortization of net actuarial loss 2 2 5 7
Amortization of prior service credit (3) (4) (8) (14)
Settlements     0 0
Net periodic benefit credit (11) (9) (33) (28)
Other Postretirement Benefits | DTE Electric        
Defined Benefit Plan Disclosure [Line Items]        
Service cost 3 3 10 10
Interest cost 11 12 35 37
Expected return on plan assets (20) (18) (59) (55)
Amortization of net actuarial loss 1 0 1 0
Amortization of prior service credit (1) (3) (5) (10)
Net periodic benefit credit $ (6) $ (6) $ (18) $ (18)
v3.24.3
Retirement Benefits and Trusteed Assets (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pension plans        
Defined Benefit Plan Disclosure [Line Items]        
Pension credit $ 5 $ 19 $ 14 $ 50
Postretirement benefit plans        
Defined Benefit Plan Disclosure [Line Items]        
Pension credit 11 9 33 28
DTE Electric | Pension plans        
Defined Benefit Plan Disclosure [Line Items]        
Pension credit 1 12 4 28
DTE Electric | Postretirement benefit plans        
Defined Benefit Plan Disclosure [Line Items]        
Pension credit $ 6 $ 6 $ 18 $ 18
v3.24.3
Segment and Related Information (Details Textuals)
customer in Millions
Sep. 30, 2024
customer
Segment Reporting [Abstract]  
Number of electric utility customers 2.3
Number of gas utility customers 1.3
v3.24.3
Segment and Related Information (Financial Data - Inter-segment Billing) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Segment Reporting Information [Line Items]        
Operating Revenues $ (2,906) $ (2,888) $ (9,021) $ (9,351)
Reconciliation and Eliminations        
Segment Reporting Information [Line Items]        
Operating Revenues 51 57 157 165
Reconciliation and Eliminations | Electric        
Segment Reporting Information [Line Items]        
Operating Revenues 18 20 54 55
Reconciliation and Eliminations | Gas        
Segment Reporting Information [Line Items]        
Operating Revenues 5 4 12 13
Reconciliation and Eliminations | DTE Vantage        
Segment Reporting Information [Line Items]        
Operating Revenues 7 13 25 32
Reconciliation and Eliminations | Energy Trading        
Segment Reporting Information [Line Items]        
Operating Revenues 21 20 66 65
Reconciliation and Eliminations | Corporate and Other        
Segment Reporting Information [Line Items]        
Operating Revenues $ 0 $ 0 $ 0 $ 0
v3.24.3
Segment and Related Information (Financial Data - Operating Revenues including Inter-segment Revenues) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations $ 1,903 $ 1,827 $ 5,938 $ 5,504
Operating Revenues — Non-utility operations 1,003 1,061 3,083 3,847
Operating Revenues 2,906 2,888 9,021 9,351
Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations (51) (57) (157) (165)
Operating Revenues (51) (57) (157) (165)
Electric | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations 1,695 1,623 4,772 4,324
Operating Revenues — Non-utility operations 2 3 11 10
Operating Revenues 1,697 1,626 4,783 4,334
Electric | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (18) (20) (54) (55)
Gas | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Utility operations 230 227 1,230 1,245
Operating Revenues 230 227 1,230 1,245
Gas | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (5) (4) (12) (13)
DTE Vantage | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 190 199 555 572
Operating Revenues 190 199 555 572
DTE Vantage | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (7) (13) (25) (32)
Energy Trading | Operating segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues — Non-utility operations 840 893 2,610 3,365
Operating Revenues 840 893 2,610 3,365
Energy Trading | Reconciliation and Eliminations        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Operating Revenues (21) (20) (66) (65)
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
v3.24.3
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, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) Attributable to DTE Energy Company $ 477 $ 332 $ 1,112 $ 978
Electric        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) Attributable to DTE Energy Company 437 268 886 547
Gas        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) Attributable to DTE Energy Company (13) (5) 153 190
DTE Vantage        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) Attributable to DTE Energy Company 33 56 74 109
Energy Trading        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) Attributable to DTE Energy Company 42 65 82 234
Corporate and Other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Net Income (Loss) Attributable to DTE Energy Company $ (22) $ (52) $ (83) $ (102)