DTE ENERGY CO, 10-Q filed on 4/25/2024
Quarterly Report
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Document and Entity Information
 3 Months Ended
Mar. 31, 2024
shares
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Mar. 31, 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 206,937,244
Entity Central Index Key 0000936340
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2024
Document Fiscal Period Focus Q1
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
v3.24.1.u1
Consolidated Statements of Operations (Unaudited) - DTE Energy Company - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Revenues    
Utility operations $ 2,156 $ 2,060
Non-utility operations 1,084 1,719
Operating Revenues 3,240 3,779
Operating Expenses    
Fuel, purchased power, and gas — utility 600 584
Fuel, purchased power, gas, and other — non-utility 989 1,437
Operation and maintenance 590 600
Depreciation and amortization 423 385
Taxes other than income 122 122
Asset (gains) losses and impairments, net (1) (1)
Operating Expenses 2,723 3,127
Operating Income 517 652
Other (Income) and Deductions    
Interest expense 218 191
Interest income (18) (17)
Non-operating retirement benefits, net 0 3
Other income (27) (26)
Other expenses 10 6
Other (Income) and Deductions 183 157
Income Before Income Taxes 334 495
Income Tax Expense 21 50
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 313 $ 445
Basic Earnings per Common Share    
Net Income Attributable to DTE Energy Company (in dollars per share) $ 1.51 $ 2.16
Diluted Earnings per Common Share    
Net Income Attributable to DTE Energy Company (in dollars per share) $ 1.51 $ 2.16
Weighted Average Common Shares Outstanding    
Basic (in shares) 206 206
Diluted (in shares) 207 206
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Consolidated Statements of Comprehensive Income (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]    
Net Income $ 313 $ 445
Other comprehensive income (loss), net of tax:    
Benefit obligations, net of taxes of $— for both periods 1 1
Net unrealized gains (losses) on derivatives, net of taxes of $8, and $(1), respectively 26 (4)
Foreign currency translation (2) 0
Other comprehensive income (loss) 25 (3)
Comprehensive Income $ 338 $ 442
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Consolidated Statements of Comprehensive Income (Unaudited) - DTE Energy Company (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]    
Tax effect on benefit obligations $ 0 $ 0
Tax effect on net unrealized losses on derivatives during the period $ 8 $ (1)
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Consolidated Statements of Financial Position (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 292 $ 26
Restricted cash 57 25
Accounts receivable (less allowance for doubtful accounts of $69 and $63, respectively)    
Accounts receivable 1,435 1,632
Other 180 155
Inventories    
Fuel and gas 309 421
Materials, supplies, and other 740 633
Derivative assets 191 297
Regulatory assets 51 108
Current investments 200 0
Other 297 242
Total Current Assets 3,752 3,539
Investments    
Nuclear decommissioning trust funds 2,134 2,041
Investments in equity method investees 158 166
Other long-term investments 162 168
Total Investments 2,454 2,375
Property    
Property, plant, and equipment 37,928 37,274
Accumulated depreciation and amortization (9,343) (9,105)
Total Property 28,585 28,169
Other Assets    
Goodwill 1,993 1,993
Regulatory assets 6,334 6,209
Securitized regulatory assets 741 758
Intangible assets 153 156
Notes receivable 768 420
Derivative assets 57 109
Prepaid postretirement costs 653 633
Operating lease right-of-use assets 152 132
Other 260 262
Total Other Assets 11,111 10,672
Total Assets 45,902 44,755
Current Liabilities    
Accounts payable 1,098 1,361
Accrued interest 238 170
Dividends payable 211 210
Short-term borrowings 290 1,283
Current portion long-term debt, including securitization bonds and finance leases 2,409 2,142
Derivative liabilities 126 177
Gas inventory equalization 90 0
Regulatory liabilities 35 71
Operating lease liabilities 16 17
Other 462 452
Total Current Liabilities 4,975 5,883
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 17,655 15,819
Securitization bonds 690 705
Junior subordinated debentures 884 883
Finance lease liabilities 19 13
Total Long-Term Debt (net of current portion) 19,248 17,420
Other Liabilities    
Deferred income taxes 2,706 2,649
Regulatory liabilities 2,625 2,603
Asset retirement obligations 3,605 3,556
Unamortized investment tax credit 180 181
Derivative liabilities 119 132
Accrued pension liability 328 350
Accrued postretirement liability 294 301
Nuclear decommissioning 333 320
Operating lease liabilities 130 108
Other 181 197
Total Other Liabilities 10,501 10,397
Commitments and Contingencies (Notes 4 and 11)
Equity    
Common stock (No par value, 400,000,000 shares authorized, and 206,937,244 and 206,357,070 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively) 6,710 6,713
Retained earnings 4,505 4,404
Accumulated other comprehensive loss (42) (67)
Total DTE Energy/DTE Electric Company Equity 11,173 11,050
Noncontrolling interests 5 5
Total Equity 11,178 11,055
Total Liabilities and Equity $ 45,902 $ 44,755
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Consolidated Statements of Financial Position (Unaudited) - DTE Energy Company (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Allowance for doubtful accounts $ 69 $ 63
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 206,937,244 206,357,070
Common stock, shares outstanding (in shares) 206,937,244 206,357,070
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Consolidated Statements of Cash Flows (Unaudited) - DTE Energy Company - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net Income $ 313 $ 445
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 423 385
Nuclear fuel amortization 12 16
Allowance for equity funds used during construction (18) (9)
Deferred income taxes 23 52
Equity (earnings) losses of equity method investees 8 (4)
Dividends from equity method investees 0 1
Asset (gains) losses and impairments, net (1) (1)
Changes in assets and liabilities:    
Accounts receivable, net 172 486
Inventories 7 133
Prepaid postretirement benefit costs (20) (22)
Accounts payable (179) (419)
Gas inventory equalization 90 100
Accrued pension liability (22) (32)
Accrued postretirement liability (7) (8)
Derivative assets and liabilities 94 (178)
Regulatory assets and liabilities 146 159
Other current and noncurrent assets and liabilities 1 (180)
Net cash from operating activities 1,042 924
Investing Activities    
Plant and equipment expenditures — utility (1,039) (924)
Plant and equipment expenditures — non-utility (12) (13)
Proceeds from sale of nuclear decommissioning trust fund assets 108 166
Investment in nuclear decommissioning trust funds (110) (168)
Distributions from equity method investees 3 4
Contributions to equity method investees (3) (10)
Notes receivable (356)  
Investment in time deposit (200) 0
Notes receivable   14
Other (7) (50)
Net cash used for investing activities (1,616) (981)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 2,181 1,386
Redemption of long-term debt (100) 0
Short-term borrowings, net (993) (1,032)
Dividends paid on common stock (202) (188)
Other (14) (15)
Net cash from financing activities 872 151
Net Increase in Cash, Cash Equivalents, and Restricted Cash 298 94
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 51 43
Cash, Cash Equivalents, and Restricted Cash at End of Period 349 137
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable $ 398 $ 333
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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, net distributions to/ contributions from noncontrolling interests, and other (in shares)   401,000      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other (10) $ (8) (2)    
Ending Balance (in shares) at Mar. 31, 2023   206,109,000      
Ending Balance at Mar. 31, 2023 $ 10,646 $ 6,652 4,055 (65) 4
Beginning Balance (in shares) at Dec. 31, 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, net distributions to/ contributions from noncontrolling interests, and other (in shares)   496,000      
Stock-based compensation, net distributions to/ contributions from noncontrolling interests, and other $ (13) $ (12) (1)    
Ending Balance (in shares) at Mar. 31, 2024 206,937,244 206,937,000      
Ending Balance at Mar. 31, 2024 $ 11,178 $ 6,710 $ 4,505 $ (42) $ 5
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Consolidated Statements of Changes in Equity (Unaudited) - DTE Energy Company (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]    
Dividends declared on common stock (in dollars per share) $ 1.02 $ 0.95
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Consolidated Statements of Operations (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Revenues — Utility operations $ 2,156 $ 2,060
Operating Expenses    
Fuel, purchased power, and gas — utility 600 584
Taxes other than income 122 122
Operating Expenses 2,723 3,127
Operating Income 517 652
Other (Income) and Deductions    
Interest expense 218 191
Interest income (18) (17)
Non-operating retirement benefits, net 0 3
Other income (27) (26)
Other expenses 10 6
Other (Income) and Deductions 183 157
Income Before Income Taxes 334 495
Income Tax Expense 21 50
Net Income Attributable to DTE Energy Company/DTE Electric Company 313 445
DTE Electric    
Operating Revenues — Utility operations 1,466 1,375
Operating Expenses    
Fuel, purchased power, and gas — utility 370 365
Operation and maintenance 380 411
Depreciation and amortization 350 317
Taxes other than income 84 84
Operating Expenses 1,184 1,177
Operating Income 282 198
Other (Income) and Deductions    
Interest expense 117 102
Interest income (2) (6)
Non-operating retirement benefits, net 2 (1)
Other income (32) (20)
Other expenses 9 6
Other (Income) and Deductions 94 81
Income Before Income Taxes 188 117
Income Tax Expense 18 17
Net Income Attributable to DTE Energy Company/DTE Electric Company $ 170 $ 100
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Consolidated Statements of Comprehensive Income (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Net Income $ 313 $ 445
Other comprehensive income (loss) 25 (3)
Comprehensive Income 338 442
DTE Electric    
Net Income 170 100
Other comprehensive income (loss) 0 0
Comprehensive Income $ 170 $ 100
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Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 292 $ 26
Restricted cash 57 25
Accounts receivable (less allowance for doubtful accounts of $40 and $41, respectively)    
Accounts receivable 1,435 1,632
Other 180 155
Inventories    
Fuel 309 421
Materials and supplies 740 633
Regulatory assets 51 108
Other 297 242
Total Current Assets 3,752 3,539
Investments    
Nuclear decommissioning trust funds 2,134 2,041
Other 162 168
Total Investments 2,454 2,375
Property    
Property, plant, and equipment 37,928 37,274
Accumulated depreciation and amortization (9,343) (9,105)
Total Property 28,585 28,169
Other Assets    
Regulatory assets 6,334 6,209
Securitized regulatory assets 741 758
Operating lease right-of-use assets 152 132
Other 260 262
Total Other Assets 11,111 10,672
Total Assets 45,902 44,755
Accounts payable    
Accounts payable 1,098 1,361
Accrued interest 238 170
Current portion long-term debt, including securitization bonds and finance leases 2,409 2,142
Regulatory liabilities 35 71
Short-term borrowings    
Short-term borrowings 290 1,283
Operating lease liabilities 16 17
Other 462 452
Total Current Liabilities 4,975 5,883
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 17,655 15,819
Securitization bonds 690 705
Finance lease liabilities 19 13
Total Long-Term Debt (net of current portion) 19,248 17,420
Other Liabilities    
Deferred income taxes 2,706 2,649
Regulatory liabilities 2,625 2,603
Asset retirement obligations 3,605 3,556
Unamortized investment tax credit 180 181
Nuclear decommissioning 333 320
Operating lease liabilities 130 108
Other 181 197
Total Other Liabilities 10,501 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) 6,710 6,713
Retained earnings 4,505 4,404
Total DTE Energy/DTE Electric Company Equity 11,173 11,050
Total Liabilities and Equity 45,902 44,755
DTE Electric    
Current Assets    
Cash and cash equivalents 195 15
Restricted cash 45 17
Accounts receivable (less allowance for doubtful accounts of $40 and $41, respectively)    
Other 63 55
Inventories    
Fuel 193 191
Materials and supplies 441 409
Regulatory assets 46 99
Prepaid property tax 108 60
Other 44 54
Total Current Assets 1,896 1,676
Investments    
Nuclear decommissioning trust funds 2,134 2,041
Other 60 53
Total Investments 2,194 2,094
Property    
Property, plant, and equipment 28,471 27,936
Accumulated depreciation and amortization (6,783) (6,570)
Total Property 21,688 21,366
Other Assets    
Regulatory assets 5,724 5,596
Securitized regulatory assets 741 758
Prepaid postretirement costs — affiliates 388 378
Operating lease right-of-use assets 123 101
Other 213 216
Total Other Assets 7,189 7,049
Total Assets 32,967 32,185
Accounts payable    
Accrued interest 131 113
Current portion long-term debt, including securitization bonds and finance leases 432 166
Regulatory liabilities 32 49
Short-term borrowings    
Short-term borrowings 210 385
Operating lease liabilities 14 15
Other 175 169
Total Current Liabilities 1,731 1,651
Long-Term Debt (net of current portion)    
Mortgage bonds, notes, and other 10,819 10,174
Securitization bonds 690 705
Finance lease liabilities 8 4
Total Long-Term Debt (net of current portion) 11,517 10,883
Other Liabilities    
Deferred income taxes 3,149 3,109
Regulatory liabilities 1,709 1,710
Asset retirement obligations 3,372 3,326
Unamortized investment tax credit 180 181
Nuclear decommissioning 333 320
Accrued pension liability — affiliates 321 334
Accrued postretirement liability — affiliates 282 290
Operating lease liabilities 105 81
Other 68 76
Total Other Liabilities 9,519 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 2,839 2,863
Total DTE Energy/DTE Electric Company Equity 10,200 10,224
Total Liabilities and Equity 32,967 32,185
DTE Electric | Affiliates    
Accounts receivable (less allowance for doubtful accounts of $40 and $41, respectively)    
Accounts receivable 10 12
Accounts payable    
Accounts payable 87 58
DTE Electric | Customer/ Other    
Accounts receivable (less allowance for doubtful accounts of $40 and $41, respectively)    
Accounts receivable 751 764
Accounts payable    
Accounts payable $ 650 $ 696
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Consolidated Statements of Financial Position (Unaudited) - DTE Electric Company (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Allowance for doubtful accounts $ 69 $ 63
Shareholder’s Equity    
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 206,937,244 206,357,070
Common stock, shares outstanding (in shares) 206,937,244 206,357,070
DTE Electric    
Current Assets    
Allowance for doubtful accounts $ 40 $ 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
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Consolidated Statements of Cash Flows (Unaudited) - DTE Electric Company - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net Income $ 313 $ 445
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 423 385
Nuclear fuel amortization 12 16
Allowance for equity funds used during construction (18) (9)
Deferred income taxes 23 52
Changes in assets and liabilities:    
Accounts receivable, net 172 486
Inventories 7 133
Accounts payable (179) (419)
Regulatory assets and liabilities 146 159
Other current and noncurrent assets and liabilities 1 (180)
Net cash from operating activities 1,042 924
Investing Activities    
Proceeds from sale of nuclear decommissioning trust fund assets 108 166
Investment in nuclear decommissioning trust funds (110) (168)
Notes receivable (356)  
Other (7) (50)
Net cash used for investing activities (1,616) (981)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 2,181 1,386
Redemption of long-term debt (100) 0
Short-term borrowings, net (993) (1,032)
Dividends paid on common stock (202) (188)
Other (14) (15)
Net cash from financing activities 872 151
Net Increase in Cash, Cash Equivalents, and Restricted Cash 298 94
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 51 43
Cash, Cash Equivalents, and Restricted Cash at End of Period 349 137
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 398 333
DTE Electric    
Operating Activities    
Net Income 170 100
Adjustments to reconcile Net Income to Net cash from operating activities:    
Depreciation and amortization 350 317
Nuclear fuel amortization 12 16
Allowance for equity funds used during construction (18) (9)
Deferred income taxes 18 19
Changes in assets and liabilities:    
Accounts receivable, net 7 74
Inventories (32) (21)
Accounts payable 59 41
Prepaid postretirement benefit costs — affiliates (10) (12)
Accrued pension liability — affiliates (13) (13)
Accrued postretirement liability — affiliates (8) (8)
Regulatory assets and liabilities 127 93
Other current and noncurrent assets and liabilities (84) (120)
Net cash from operating activities 578 477
Investing Activities    
Plant and equipment expenditures (868) (743)
Proceeds from sale of nuclear decommissioning trust fund assets 108 166
Investment in nuclear decommissioning trust funds (110) (168)
Notes receivable 0 (15)
Other (12) (50)
Net cash used for investing activities (882) (810)
Financing Activities    
Issuance of long-term debt, net of discount and issuance costs 993 1,186
Redemption of long-term debt (100) 0
Dividends paid on common stock (194) (182)
Other (12) (11)
Net cash from financing activities 512 398
Net Increase in Cash, Cash Equivalents, and Restricted Cash 208 65
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 32 24
Cash, Cash Equivalents, and Restricted Cash at End of Period 240 89
Supplemental disclosure of non-cash investing and financing activities    
Plant and equipment expenditures in accounts payable 328 277
DTE Electric | Affiliates    
Financing Activities    
Short-term borrowings, net 0 (27)
DTE Electric | Other    
Financing Activities    
Short-term borrowings, net $ (175) $ (568)
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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 $ 445     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, 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 313     170     170
Dividends declared on common stock $ (211)   $ (211) $ (194)     (194)
Ending Balance (in shares) at Mar. 31, 2024 206,937,244 206,937,000   138,632,324 138,632,000    
Ending Balance at Mar. 31, 2024 $ 11,173     $ 10,200 $ 1,386 $ 5,975 $ 2,839
v3.24.1.u1
Organization and Basis of Presentation
 3 Months Ended
Mar. 31, 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 March 31, 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 March 31, 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 March 31, 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:
March 31, 2024December 31, 2023
DTE EnergyDTE ElectricDTE EnergyDTE Electric
(In millions)
ASSETS
Cash and cash equivalents$8 $— $7 $— 
Restricted cash57 45 25 17 
Accounts receivable19 7 85 6 
Securitized regulatory assets741 741 758 758 
Notes receivable(a)
544 — 183 — 
Other current and long-term assets1 — 4 1 
$1,370 $793 $1,062 $782 
LIABILITIES
Accounts payable$20 $— $59 $— 
Accrued interest17 17 6 6 
Securitization bonds(b)
769 769 769 769 
Other current and long-term liabilities26 11 20 8 
$832 $797 $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 March 31, 2024, Notes Receivable includes $10 million reported in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Includes $79 million and $64 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the periods ended March 31, 2024 and December 31, 2023, respectively.
Amounts for DTE Energy's non-consolidated VIEs are as follows:
March 31, 2024December 31, 2023
(In millions)
Investments in equity method investees$100 $112 
Notes receivable$18 $15 
v3.24.1.u1
Significant Accounting Policies
 3 Months Ended
Mar. 31, 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 March 31,
20242023
(In millions)
Allowance for equity funds used during construction$18 $9 
Contract services7 6 
Investment income(a)
6 5 
Equity earnings (losses) of equity method investees(8)4 
Other4 2 
$27 $26 
_______________________________________
(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 March 31,
20242023
(In millions)
Allowance for equity funds used during construction$18 $9 
Contract services6 6 
Investment income(a)
5 3 
Other3 2 
$32 $20 
_______________________________________
(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 months ended March 31, 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 March 31,
20242023
DTE Energy
Statutory federal income tax rate21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit4.1 4.4 
Production tax credits(8.7)(6.2)
TCJA regulatory liability amortization(4.9)(4.1)
Investment tax credits(3.1)(2.3)
AFUDC equity(1.2)(0.3)
Enactment of West Virginia income tax legislation, net of federal benefit— (1.2)
Other(1.0)(1.2)
Effective income tax rate6.2 %10.1 %
Three Months Ended March 31,
20242023
DTE Electric
Statutory federal income tax rate21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit5.3 5.6 
Production tax credits(10.2)(7.1)
TCJA regulatory liability amortization(5.1)(4.5)
AFUDC equity(1.5)(0.3)
Other0.1 (0.5)
Effective income tax rate9.6 %14.2 %
DTE Electric had income tax receivables with DTE Energy of $7 million at March 31, 2024, including $5 million related to federal taxes and $2 million related to state taxes, and $7 million at December 31, 2023 related to federal taxes. Amounts are included in Accounts Receivable — Affiliates on the DTE Electric Consolidated Statements of Financial Position.
Unrecognized Compensation Costs
As of March 31, 2024, DTE Energy had $95 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 2.0 years.
Allocated Stock-Based Compensation
DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $8 million and $10 million for the three months ended March 31, 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 March 31, 2024.
DTE EnergyDTE Electric
Year of Origination
202420232022 and PriorTotal2024 and Prior
(In millions)
Notes receivable
Internal grade 1$— $15 $4 $19 $15 
Internal grade 2364 8 26 398 1 
Total notes receivable(a)
$364 $23 $30 $417 $16 
Net investment in leases
Internal grade 1$— $— $36 $36 $— 
Internal grade 2122 — 247 369 — 
Total net investment in leases(a)
$122 $— $283 $405 $— 
_______________________________________
(a)For DTE Energy and DTE Electric, the current portion is included in Current Assets — Other on the respective Consolidated Statements of Financial Position. For DTE Electric, the noncurrent portion is included in Other Assets — Other.
The allowance for doubtful accounts on accounts receivable for the utility entities is generally calculated using an aging approach that utilizes rates developed in reserve studies. DTE Electric and DTE Gas establish an allowance for uncollectible accounts based on historical losses and management's assessment of existing and future economic conditions, customer trends and other factors. Customer accounts are generally considered delinquent if the amount billed is not received by the due date, which is typically in 21 days, however, factors such as assistance programs may delay aggressive action. DTE Electric and DTE Gas generally assess late payment fees on trade receivables based on past-due terms with customers. Customer accounts are written off when collection efforts have been exhausted. The time period for write-off is 150 days after service has been terminated.
The customer allowance for doubtful accounts for non-utility businesses and other receivables for both utility and non-utility businesses is generally calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. Existing and future economic conditions, customer trends and other factors are also considered. Receivables are written off on a specific identification basis and determined based upon the specific circumstances of the associated receivable.
Notes receivable for DTE Energy are primarily comprised of finance lease receivables and loans that are included in Notes Receivable and Other current assets on DTE Energy's Consolidated Statements of Financial Position. Notes receivable for DTE Electric are primarily comprised of loans.
The Registrants establish an allowance for credit loss for principal and interest amounts due that are estimated to be uncollectible in accordance with the contractual terms of the note receivable. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty's ability to pay including existing and future economic conditions. Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. If amounts are no longer probable of collection, the Registrants may consider the note receivable impaired, adjust the allowance, and cease accruing interest (nonaccrual status).
Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to the contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current.
The following tables present a roll-forward of the activity for the Registrants' financing receivables credit loss reserves:
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2024$62 $1 $63 $41 
Current period provision20 — 20 9 
Write-offs charged against allowance(26)— (26)(18)
Recoveries of amounts previously written off12 — 12 8 
Ending reserve balance, March 31, 2024$68 $1 $69 $40 
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 March 31,
20242023
(In millions)
DTE Energy$21 $22 
DTE Electric$10 $8 
There are no material amounts of past due financing receivables for the Registrants as of March 31, 2024.
v3.24.1.u1
Revenue
 3 Months Ended
Mar. 31, 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 March 31,
20242023
(In millions)
Electric(a)
Residential$700 $654 
Commercial556 495 
Industrial183 169 
Other(b)
31 61 
Total Electric operating revenues$1,470 $1,379 
Gas
Gas sales$565 $601 
End User Transportation82 86 
Intermediate Transportation29 31 
Other(b)
35 (11)
Total Gas operating revenues$711 $707 
Other segment operating revenues
DTE Vantage$184 $184 
Energy Trading$933 $1,568 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $4 million of Other revenues related to DTE Sustainable Generation for both the three months ended March 31, 2024 and 2023.
(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 March 31,
20242023
(In millions)
Electric — Other revenues $4 $5 
Gas — Alternative Revenue Programs$6 $3 
Gas — Other revenues$2 $3 
DTE Vantage — Leases$14 $15 
Energy Trading — Derivatives$659 $1,161 
Deferred Revenue
The following is a summary of deferred revenue activity for DTE Energy:
Three Months Ended March 31,
20242023
(In millions)
Beginning Balance, January 1$106 $94 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period35 27 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(25)(34)
Ending Balance, March 31$116 $87 
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 associated with RECs are recognized as revenue when control of the RECs has transferred. Other performance obligations associated with deferred revenues include providing products and services related to customer prepayments. Deferred revenues associated with these products and services are recognized when control has transferred to the customer.
The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:
DTE Energy
(In millions)
2024$108 
20257 
20261 
2027— 
2028— 
2029 and thereafter— 
$116 
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$191 $6 
2025207 1 
2026126 — 
202794 — 
202863 — 
2029 and thereafter323 — 
$1,004 $7 
v3.24.1.u1
Regulatory Matters
 3 Months Ended
Mar. 31, 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.
v3.24.1.u1
Earnings Per Share
 3 Months Ended
Mar. 31, 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 March 31,
20242023
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company$313 $445 
Less: Allocation of earnings to net restricted stock awards1 1 
Net income available to common shareholders — basic$312 $444 
Average number of common shares outstanding — basic206 206 
Basic Earnings per Common Share$1.51 $2.16 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company$313 $445 
Less: Allocation of earnings to net restricted stock awards1 1 
Net income available to common shareholders — diluted$312 $444 
Average number of common shares outstanding — basic206 206 
Average performance share awards1 — 
Average number of common shares outstanding — diluted207 206 
Diluted Earnings per Common Share
$1.51 $2.16 
v3.24.1.u1
Fair Value
 3 Months Ended
Mar. 31, 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 March 31, 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:
March 31, 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)
$19 $150 $— $— $— $169 $13 $— $— $— $— $13 
Nuclear decommissioning trusts
Equity securities843 — — 139 — 982 776 — — 145 — 921 
Fixed income securities117 377 — 99 — 593 127 371 — 92 — 590 
Private equity and other— — — 328 — 328 — — — 312 — 312 
Hedge funds and similar investments128 64 — — — 192 119 65 — — — 184 
Cash equivalents39 — — — — 39 34 — — — — 34 
Other investments(d)
Equity securities66 — — — — 66 58 — — — — 58 
Fixed income securities7 — — — — 7 7 — — — — 7 
Cash equivalents31 — — — — 31 37 — — — — 37 
Other— 200 — — — 200 — — — — — — 
Derivative assets
Commodity contracts(e)
Natural gas162 218 119 — (346)153 241 217 179 — (416)221 
Electricity— 158 77 — (155)80 — 258 163 — (243)178 
Environmental & Other— 142 4 — (142)4 — 131 8 — (132)7 
Other contracts — 11 — — — 11 — — — — — — 
Total derivative assets162 529 200 — (643)248 241 606 350 — (791)406 
Total$1,412 $1,320 $200 $566 $(643)$2,855 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(243)$(141)$(122)$— $371 $(135)$(291)$(167)$(157)$— $429 $(186)
Electricity— (165)(102)— 167 (100)— (272)(116)— 297 (91)
Environmental & Other— (159)(2)— 152 (9)— (148)(2)— 137 (13)
Other contracts— (1)— — — (1)— (19)— — — (19)
Total$(243)$(466)$(226)$— $690 $(245)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,169 $854 $(26)$566 $47 $2,610 $1,121 $436 $75 $549 $72 $2,253 
Assets
Current$156 $734 $137 $— $(467)$560 $215 $461 $247 $— $(613)$310 
Noncurrent1,256 586 63 566 (176)2,295 1,197 581 103 549 (178)2,252 
Total Assets$1,412 $1,320 $200 $566 $(643)$2,855 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Current$(204)$(333)$(105)$— $516 $(126)$(240)$(462)$(145)$— $670 $(177)
Noncurrent(39)(133)(121)— 174 (119)(51)(144)(130)— 193 (132)
Total Liabilities$(243)$(466)$(226)$— $690 $(245)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,169 $854 $(26)$566 $47 $2,610 $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 $19 million and $11 million recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at March 31, 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:
March 31, 2024December 31, 2023
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(b)
$19 $150 $— $— $169 $11 $— $— $— $11 
Nuclear decommissioning trusts
Equity securities843 — — 139 982 776 — — 145 921 
Fixed income securities117 377 — 99 593 127 371 — 92 590 
Private equity and other— — — 328 328 — — — 312 312 
Hedge funds and similar investments128 64 — — 192 119 65 — — 184 
Cash equivalents39 — — — 39 34 — — — 34 
Other investments
Equity securities23 — — — 23 21 — — — 21 
Cash equivalents19 — — — 19 11 — — — 11 
Derivative assets — FTRs— — 3 — 3 — — 7 — 7 
Total$1,188 $591 $3 $566 $2,348 $1,099 $436 $7 $549 $2,091 
Assets
Current$19 $150 $3 $— $172 $11 $— $7 $— $18 
Noncurrent1,169 441 — 566 2,176 1,088 436 — 549 2,073 
Total Assets$1,188 $591 $3 $566 $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 $19 million and $11 million recorded in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at March 31, 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 $150 million and $157 million as of March 31, 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 March 31, 2024Three Months Ended March 31, 2023
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$22 $47 $6 $75 $(255)$(33)$11 $(277)
Total gains (losses)
Included in earnings(a)
(25)(3)(1)(29)151 (45)1 107 
Recorded in Regulatory liabilities— — (2)(2)— — (9)(9)
Purchases, issuances, and settlements
Settlements— (69)(1)(70)42 40 (1)81 
Net Assets (Liabilities) as of March 31$(3)$(25)$2 $(26)$(62)$(38)$2 $(98)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at March 31(a)
$(39)$1 $— $(38)$94 $19 $1 $114 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at March 31$— $— $2 $2 $— $— $(2)$(2)
_______________________________________
(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 March 31,
20242023
(In millions)
Net Assets as of beginning of period$7 $11 
Total losses recorded in Regulatory liabilities(2)(9)
Purchases, issuances, and settlements
Settlements(2)(1)
Net Assets as of March 31$3 $1 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at March 31$2 $(2)
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 months ended March 31, 2024 and 2023.
The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:
March 31, 2024
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$119 $(122)Discounted Cash FlowForward basis price (per MMBtu)$(1.27)—$2.42 /MMBtu$(0.09)/MMBtu
Electricity$77 $(102)Discounted Cash FlowForward basis price (per MWh)$(18.83)—$11.90 /MWh$(4.53)/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:
March 31, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$417 $— $— $452 $175 $— $— $181 
Short-term borrowings$290 $— $290 $— $1,283 $— $1,283 $— 
Notes payable(b)
$18 $— $— $18 $34 $— $— $34 
Long-term debt(c)
$21,633 $814 $17,983 $1,161 $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:
March 31, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$16 $— $— $16 $19 $— $— $19 
Short-term borrowings — other$210 $— $210 $— $385 $— $385 $— 
Notes payable(b)
$17 $— $— $17 $33 $— $— $33 
Long-term debt(c)
$11,938 $— $10,653 $136 $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:
March 31, 2024December 31, 2023
(In millions)
Fermi 2$2,118 $2,026 
Fermi 13 3 
Low-level radioactive waste13 12 
$2,134 $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 March 31,
20242023
(In millions)
Realized gains$7 $8 
Realized losses$(6)$(14)
Proceeds from sale of securities$108 $166 
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:
March 31, 2024December 31, 2023
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$982 $517 $(11)$921 $459 $(11)
Fixed income securities593 11 (32)590 8 (30)
Private equity and other328 86 (8)312 74 (8)
Hedge funds and similar investments192 7 (8)184 4 (9)
Cash equivalents39 — — 34 — — 
$2,134 $621 $(59)$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:
March 31, 2024
(In millions)
Due within one year$10 
Due after one through five years108 
Due after five through ten years101 
Due after ten years275 
$494 
Fixed income securities held in nuclear decommissioning trust funds include $99 million of non-publicly traded commingled funds that do not have a contractual maturity date.
Other Securities
At March 31, 2024, DTE Energy had $200 million invested in time deposit accounts with a 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 March 31, 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 months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
Financial and Other Derivative Instruments
 3 Months Ended
Mar. 31, 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 March 31, 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:
March 31, 2024December 31, 2023
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
  Interest rate contracts $10 $— $— $(16)
  Foreign currency exchange contracts— (1)— (2)
Total derivatives designated as hedging instruments$10 $(1)$— $(18)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$499 $(506)$637 $(615)
Electricity235 (267)421 (388)
Environmental & Other146 (161)139 (150)
Foreign currency exchange contracts1 — — (1)
Total derivatives not designated as hedging instruments$881 $(934)$1,197 $(1,154)
Current$658 $(642)$910 $(847)
Noncurrent233 (293)287 (325)
Total derivatives$891 $(935)$1,197 $(1,172)
The fair value of derivative instruments at DTE Electric was $3 million and $7 million at March 31, 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 $3 million issued and outstanding at March 31, 2024 and December 31, 2023, 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 $4 million and $10 million at March 31, 2024 and December 31, 2023, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.
For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.
The following table presents net cash collateral offsetting arrangements for DTE Energy:
March 31, 2024December 31, 2023
(In millions)
Cash collateral netted against Derivative assets$(2)$— 
Cash collateral netted against Derivative liabilities49 72 
Cash collateral recorded in Accounts receivable(a)
58 57 
Cash collateral recorded in Accounts payable(a)
(4)(3)
Total net cash collateral posted (received)$101 $126 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
March 31, 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$499 $(346)$153 $637 $(416)$221 
Electricity235 (155)80 421 (243)178 
Environmental & Other146 (142)4 139 (132)7 
Interest rate contracts 10 — 10 — — — 
Foreign currency exchange contracts1 — 1 — — — 
Total derivative assets$891 $(643)$248 $1,197 $(791)$406 
Derivative liabilities
Commodity contracts(a)
Natural gas$(506)$371 $(135)$(615)$429 $(186)
Electricity(267)167 (100)(388)297 (91)
Environmental & Other(161)152 (9)(150)137 (13)
Interest rate contracts— — — (16)— (16)
Foreign currency exchange contracts(1)— (1)(3)— (3)
Total derivative liabilities$(935)$690 $(245)$(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:
March 31, 2024December 31, 2023
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$658 $233 $(642)$(293)$910 $287 $(847)$(325)
Counterparty netting(467)(174)467 174 (613)(178)613 178 
Collateral adjustment— (2)49 — — — 57 15 
Total derivatives as reported$191 $57 $(126)$(119)$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 March 31,
20242023
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(69)$71 
Natural gasFuel, purchased power, gas, and other — non-utility59 148 
ElectricityOperating Revenues — Non-utility operations(5)(115)
Environmental & OtherOperating Revenues — Non-utility operations(7)(1)
Foreign currency exchange contractsOperating Revenues — Non-utility operations2 — 
Total$(20)$103 
Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, gas, and other — non-utility.
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of March 31, 2024:
CommodityNumber of Units
Natural gas (MMBtu)2,169,902,328 
Electricity (MWh)42,932,324 
Oil (Gallons)3,204,000 
Foreign currency exchange ($ CAD)127,734,587 
FTR (MWh)29,452 
Renewable Energy Certificates (MWh)11,275,250 
Carbon emissions (Metric Tons)123,848 
Interest rate contracts ($ USD)950,000,000 
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 March 31, 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 $413 million.
As of March 31, 2024, DTE Energy had $793 million of derivatives in net liability positions, for which hard triggers exist. There is $5 million of collateral that has been posted against such liabilities, including cash and letters of credit. Associated derivative net asset positions for which contractual offset exists were $622 million. The net remaining amount of $166 million is derived from the $413 million noted above.
v3.24.1.u1
Long-Term Debt
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
Debt Issuances
Refer to the table below for debt issued through March 31, 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 
$2,200 
_______________________________________
(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.
Debt Redemptions
In March 2024, DTE Electric redeemed at maturity the $100 million of remaining principal on its 2013 Series B 3.65% Mortgage bonds.
v3.24.1.u1
Short-Term Credit Arrangements and Borrowings
 3 Months Ended
Mar. 31, 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 March 31, 2024, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.64 to 1, 0.53 to 1, and 0.45 to 1, respectively, and were in compliance with this financial covenant.
The availability under these facilities as of March 31, 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 2024175 — — 175 
Unsecured letter of credit facility, expiring February 2025150 — — 150 
Unsecured letter of credit facilities(a)
150 — — 150 
Unsecured letter of credit facility(b)
— 100 — 100 
1,975 900 300 3,175 
Amounts outstanding at March 31, 2024
Commercial paper issuances80 210 — 290 
Letters of credit96 58 — 154 
176 268 — 444 
Net availability at March 31, 2024$1,799 $632 $300 $2,731 
_______________________________________
(a)Uncommitted letter of credit facilities with automatic renewal provision and therefore no expiration.
(b)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration. DTE Energy may also utilize availability under this facility.
In conjunction with maintaining certain exchange-traded risk management positions, DTE Energy may be required to post collateral with a clearing agent. DTE Energy has a demand financing agreement with its clearing agent, which allows the right of setoff with posted collateral. At March 31, 2024, the capacity under the facility was $200 million. The amounts outstanding under demand financing agreements were $140 million and $152 million at March 31, 2024 and December 31, 2023, respectively, and were fully offset by posted collateral.
v3.24.1.u1
Leases
 3 Months Ended
Mar. 31, 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 $119 million as of March 31, 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
March 31, 2024
(In millions)
2024$36 
202548 
202647 
202747 
202847 
2029 and Thereafter584 
Total minimum future lease receipts809 
Residual value of leased pipeline17 
Less unearned income421 
Net investment in finance lease405 
Less current portion11 
$394 
Interest income recognized under finance leases was $8 million and $7 million for the three months ended March 31, 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 March 31,
20242023
(In millions)
Fixed payments$4 $4 
Variable payments10 11 
$14 $15 
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 $119 million as of March 31, 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
March 31, 2024
(In millions)
2024$36 
202548 
202647 
202747 
202847 
2029 and Thereafter584 
Total minimum future lease receipts809 
Residual value of leased pipeline17 
Less unearned income421 
Net investment in finance lease405 
Less current portion11 
$394 
Interest income recognized under finance leases was $8 million and $7 million for the three months ended March 31, 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 March 31,
20242023
(In millions)
Fixed payments$4 $4 
Variable payments10 11 
$14 $15 
v3.24.1.u1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 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 May 2023, the EPA proposed new rules to address emissions of GHGs from existing, new, modified, or reconstructed sources in the power sector. DTE Electric provided individual comments on the proposal and also worked with industry partners on a broader set of comments. The financial impact cannot be estimated until a final rule is issued, which is currently expected by May 2024.
Pending or future legislation or other regulatory actions could have a material impact on DTE Electric's operations and financial position and the rates charged to its customers. Potential impacts include expenditures for environmental equipment beyond what is currently planned, financing costs related to additional capital expenditures, the purchase of emission credits from market sources, higher costs of purchased power, and the retirement of facilities where control equipment is not economical. DTE Electric would seek to recover these incremental costs through increased rates charged to its utility customers, as authorized by the MPSC.
To comply with air pollution requirements, DTE Electric has spent approximately $2.4 billion. DTE Electric does not anticipate additional capital expenditures for air pollution requirements, subject to the results of future rulemakings.
Water — In response to EPA regulations and in accordance with the Clean Water Act section 316(b), DTE Electric was required to examine alternatives for reducing the environmental impacts of the cooling water intake structures at several of its facilities. A final rule became effective in October 2014, which required studies to be completed and submitted as part of the NPDES permit application process to determine the type of technology needed to reduce impacts to fish. DTE Electric has completed the required studies and submitted reports for most of its generation plants, and a final study is in-process for Monroe power plant. Final compliance for the installation of any required technology to reduce the impacts of water intake structures will be determined by the state on a case by case, site specific basis.
DTE Electric is currently evaluating the compliance options and working with the state of Michigan on identifying any necessary controls or modifications to existing intake structures. DTE Electric's current capital plan includes an estimated $81 million of compliance-related expenditures, including $54 million for 2024 through 2028. Projected capital expenditures are expected to decrease as a result of the planned conversion of the Belle River power plant to natural gas and the retirement of Monroe power plant generating units. However, discussions with the state are ongoing and a revised cost estimate has not yet been determined.
As part of the Monroe power plant NPDES permit, EGLE has added requirements to evaluate the thermal discharge of the facility as it relates to Clean Water Act section 316(a) regulations. DTE Electric 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. Cleanup of one of the MGP sites is complete, and that site is closed. The investigations have revealed contamination related to the by-products of gas manufacturing at each MGP site. In addition to the MGP sites, DTE Electric is also in the process of cleaning up other contaminated sites, including the area surrounding an ash landfill, electrical distribution substations, electric generating power plants, and underground and above ground storage tank locations. The findings of these investigations indicated that the estimated cost to remediate these sites is expected to be incurred over the next several years. At March 31, 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 owns and operates three permitted engineered coal ash storage facilities to dispose of coal ash from coal-fired power plants and operates a number of smaller impoundments at its power plants subject to certain provisions in the CCR rule. At certain facilities, the rule 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 18, 2023, the EPA posted in the Federal Register a proposed rule to regulate legacy CCR surface impoundments and CCR management units. The rule proposes to expand the reach of the CCR rule to inactive electric generation sites and previously unregulated locations of CCR at a regulated facility. DTE Electric is currently evaluating the proposed rule. The financial impact of the proposed rule cannot be estimated until a final rule is issued, which is currently expected in mid-2024.
At the state level, legislation was signed in December 2018 and provides for further regulation of the CCR program in Michigan. Additionally, the statutory revision provides the basis of a CCR program that EGLE has submitted to the EPA for approval to fully regulate the CCR program in Michigan in lieu of a federal permit program. The EPA is currently working with EGLE in reviewing the submitted state program, and DTE Electric will work with EGLE to implement the state program that may be approved in the future.
On October 13, 2020, the EPA finalized the ELG Reconsideration Rule which revised the regulations from the 2015 ELG rule for FGD wastewater and bottom ash transport water only. The Reconsideration Rule re-established the technology-based effluent limitations guidelines and standards applicable to FGD wastewater and bottom ash transport water. The EPA set the applicability dates for bottom ash transport water "as soon as possible" beginning October 13, 2021 and no later than December 31, 2025. FGD wastewater retrofits must be completed "as soon as possible" beginning October 13, 2021 and no later than December 31, 2025 or December 31, 2028 if a permittee decides to pursue the Voluntary Incentives Program (VIP) subcategory for FGD wastewater. If a facility applies for the VIP, they must meet more stringent standards, but are allowed an extended time period to meet the compliance requirements.
The Reconsideration Rule also provides additional compliance opportunities by finalizing low utilization and cessation of coal burning subcategories. The Reconsideration Rule provides new opportunities for DTE Electric to evaluate existing ELG compliance strategies and make any necessary adjustments to ensure full compliance with the ELGs in a cost-effective manner.
Compliance schedules for individual facilities and individual waste streams are determined through issuance of new NPDES permits by the state of Michigan. The state of Michigan has issued an NPDES permit for the Belle River power plant establishing compliance deadlines based on the 2020 Reconsideration Rule. On October 11, 2021, in consideration of the deadlines above, DTE Electric submitted a Notice of Planned Participation ("NOPP") to the state of Michigan that formally announced the intent to pursue compliance subcategories as ELG compliance options: the cessation of coal at the Belle River power plant no later than December 31, 2028 and the VIP for FGD wastewater at Monroe power plant by December 31, 2028.
On March 29, 2023, the EPA published two draft proposals to revise existing ELG rules. The first draft proposal reopened the cessation of coal compliance subcategory from the 2020 ELG rule and allows for compliance by committing to such cessation no later than December 31, 2028. This proposal was finalized by the EPA on May 30, 2023. The second draft proposal is a broader update to the ELG rules that includes revised compliance standards for FGD wastewater, bottom ash transport water, and other wastewater streams with a compliance date no later than December 31, 2029. DTE Electric's compliance strategy includes the conversion of the two generating units at the Belle River power plant to a natural gas peaking resource in 2025-2026, which was included in the NOPP filed in 2021. DTE Electric also submitted a new NOPP to apply for the cessation of coal compliance subcategory for generating units 3 and 4 at the Monroe power plant. DTE Electric plans to retire Monroe's generating units 1 and 2 in 2032.
DTE Electric continues to evaluate compliance strategies, technologies and system designs to achieve compliance with the EPA rules at the Monroe power plant.
DTE Electric currently estimates the impact of the CCR and ELG rules to be $412 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 are expected to be finalized in mid-2024.
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 March 31, 2024 and December 31, 2023, DTE Gas had $26 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 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. 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, 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 currently in the discovery phase and trial is scheduled for April 2025. 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 March 31, 2024 was $392 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 $44 million at March 31, 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 March 31, 2024, DTE Energy had $334 million of performance bonds outstanding, including $159 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 4,900 represented employees, including DTE Electric's approximately 2,550 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 2024. 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. 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.
v3.24.1.u1
Retirement Benefits and Trusteed Assets
 3 Months Ended
Mar. 31, 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 table details 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 March 31,
Service cost$14 $14 $4 $4 
Interest cost52 54 16 16 
Expected return on plan assets(85)(88)(30)(28)
Amortization of:
Net actuarial loss15 2 2 3 
Prior service credit(1)(1)(3)(4)
Settlements— 2 — — 
Net periodic benefit credit$(5)$(17)$(11)$(9)
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 was a credit of $1 million and $9 million for the three months ended March 31, 2024 and 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 March 31,
20242023
(In millions)
Service cost$3 $3 
Interest cost12 12 
Expected return on plan assets(20)(18)
Amortization of:
Prior service credit(1)(3)
Net periodic benefit credit$(6)$(6)
Pension and Other Postretirement Contributions
No contributions are currently expected for DTE Energy’s postretirement benefit plans in 2024, and contributions to the qualified pension plans are expected to be nominal. Plans may be updated at the discretion of management and depending on economic and financial market conditions.
v3.24.1.u1
Segment and Related Information
 3 Months Ended
Mar. 31, 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 March 31,
20242023
(In millions)
Electric$18 $17 
Gas4 5 
DTE Vantage11 10 
Energy Trading25 27 
Corporate and Other— — 
$58 $59 
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 March 31,
20242023
(In millions)
Operating Revenues — Utility operations
Electric$1,466 $1,375 
Gas711 707 
Operating Revenues — Non-utility operations
Electric4 4 
DTE Vantage184 184 
Energy Trading933 1,568 
Corporate and Other— — 
Reconciliation and Eliminations(58)(59)
Total$3,240 $3,779 
Three Months Ended March 31,
20242023
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment
Electric$171 $101 
Gas154 171 
DTE Vantage8 27 
Energy Trading1 138 
Corporate and Other(21)8 
Net Income Attributable to DTE Energy Company$313 $445 
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure    
Net Income Attributable to DTE Energy Company $ 313 $ 445
v3.24.1.u1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 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
v3.24.1.u1
Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 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 March 31, 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 March 31, 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 March 31, 2024.
DTE EnergyDTE Electric
Year of Origination
202420232022 and PriorTotal2024 and Prior
(In millions)
Notes receivable
Internal grade 1$— $15 $4 $19 $15 
Internal grade 2364 8 26 398 1 
Total notes receivable(a)
$364 $23 $30 $417 $16 
Net investment in leases
Internal grade 1$— $— $36 $36 $— 
Internal grade 2122 — 247 369 — 
Total net investment in leases(a)
$122 $— $283 $405 $— 
_______________________________________
(a)For DTE Energy and DTE Electric, the current portion is included in Current Assets — Other on the respective Consolidated Statements of Financial Position. For DTE Electric, the noncurrent portion is included in Other Assets — Other.
The allowance for doubtful accounts on accounts receivable for the utility entities is generally calculated using an aging approach that utilizes rates developed in reserve studies. DTE Electric and DTE Gas establish an allowance for uncollectible accounts based on historical losses and management's assessment of existing and future economic conditions, customer trends and other factors. Customer accounts are generally considered delinquent if the amount billed is not received by the due date, which is typically in 21 days, however, factors such as assistance programs may delay aggressive action. DTE Electric and DTE Gas generally assess late payment fees on trade receivables based on past-due terms with customers. Customer accounts are written off when collection efforts have been exhausted. The time period for write-off is 150 days after service has been terminated.
The customer allowance for doubtful accounts for non-utility businesses and other receivables for both utility and non-utility businesses is generally calculated based on specific review of probable future collections based on receivable balances generally in excess of 30 days. Existing and future economic conditions, customer trends and other factors are also considered. Receivables are written off on a specific identification basis and determined based upon the specific circumstances of the associated receivable.
Notes receivable for DTE Energy are primarily comprised of finance lease receivables and loans that are included in Notes Receivable and Other current assets on DTE Energy's Consolidated Statements of Financial Position. Notes receivable for DTE Electric are primarily comprised of loans.
The Registrants establish an allowance for credit loss for principal and interest amounts due that are estimated to be uncollectible in accordance with the contractual terms of the note receivable. In determining the allowance for credit losses for notes receivable, the Registrants consider the historical payment experience and other factors that are expected to have a specific impact on the counterparty's ability to pay including existing and future economic conditions. Notes receivable are typically considered delinquent when payment is not received for periods ranging from 60 to 120 days. If amounts are no longer probable of collection, the Registrants may consider the note receivable impaired, adjust the allowance, and cease accruing interest (nonaccrual status).
Cash payments received on nonaccrual status notes receivable, that do not bring the account contractually current, are first applied to the contractually owed past due interest, with any remainder applied to principal. Accrual of interest is generally resumed when the note receivable becomes contractually current.
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 March 31, 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 $150 million and $157 million as of March 31, 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 March 31, 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 $3 million issued and outstanding at March 31, 2024 and December 31, 2023, 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 $4 million and $10 million at March 31, 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.
v3.24.1.u1
Organization and Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 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:
March 31, 2024December 31, 2023
DTE EnergyDTE ElectricDTE EnergyDTE Electric
(In millions)
ASSETS
Cash and cash equivalents$8 $— $7 $— 
Restricted cash57 45 25 17 
Accounts receivable19 7 85 6 
Securitized regulatory assets741 741 758 758 
Notes receivable(a)
544 — 183 — 
Other current and long-term assets1 — 4 1 
$1,370 $793 $1,062 $782 
LIABILITIES
Accounts payable$20 $— $59 $— 
Accrued interest17 17 6 6 
Securitization bonds(b)
769 769 769 769 
Other current and long-term liabilities26 11 20 8 
$832 $797 $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 March 31, 2024, Notes Receivable includes $10 million reported in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.
(b)Includes $79 million and $64 million reported in Current portion of long-term debt on the Registrants' Consolidated Statements of Financial Position for the periods ended March 31, 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:
March 31, 2024December 31, 2023
(In millions)
Investments in equity method investees$100 $112 
Notes receivable$18 $15 
v3.24.1.u1
Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Schedule of Other Income
The following is a summary of DTE Energy's Other income:
Three Months Ended March 31,
20242023
(In millions)
Allowance for equity funds used during construction$18 $9 
Contract services7 6 
Investment income(a)
6 5 
Equity earnings (losses) of equity method investees(8)4 
Other4 2 
$27 $26 
_______________________________________
(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 March 31,
20242023
(In millions)
Allowance for equity funds used during construction$18 $9 
Contract services6 6 
Investment income(a)
5 3 
Other3 2 
$32 $20 
_______________________________________
(a)Investment losses are recorded separately to Other expenses on the Consolidated Statements of Operations.
Schedule of Effective Income Tax Rate Reconciliation The tables below summarize how the Registrants' effective income tax rates have varied from the statutory federal income tax rate:
Three Months Ended March 31,
20242023
DTE Energy
Statutory federal income tax rate21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit4.1 4.4 
Production tax credits(8.7)(6.2)
TCJA regulatory liability amortization(4.9)(4.1)
Investment tax credits(3.1)(2.3)
AFUDC equity(1.2)(0.3)
Enactment of West Virginia income tax legislation, net of federal benefit— (1.2)
Other(1.0)(1.2)
Effective income tax rate6.2 %10.1 %
Three Months Ended March 31,
20242023
DTE Electric
Statutory federal income tax rate21.0 %21.0 %
Increase (decrease) due to:
State and local income taxes, net of federal benefit5.3 5.6 
Production tax credits(10.2)(7.1)
TCJA regulatory liability amortization(5.1)(4.5)
AFUDC equity(1.5)(0.3)
Other0.1 (0.5)
Effective income tax rate9.6 %14.2 %
Schedule of Financing Receivables Classified by Internal Grade of Credit Risk
The following represents the Registrants' financing receivables by year of origination, classified by internal grade of credit risk, including current year-to-date gross write-offs, if any. The related credit quality indicators and risk ratings utilized to develop the internal grades have been updated through March 31, 2024.
DTE EnergyDTE Electric
Year of Origination
202420232022 and PriorTotal2024 and Prior
(In millions)
Notes receivable
Internal grade 1$— $15 $4 $19 $15 
Internal grade 2364 8 26 398 1 
Total notes receivable(a)
$364 $23 $30 $417 $16 
Net investment in leases
Internal grade 1$— $— $36 $36 $— 
Internal grade 2122 — 247 369 — 
Total net investment in leases(a)
$122 $— $283 $405 $— 
_______________________________________
(a)For DTE Energy and DTE Electric, the current portion is included in Current Assets — Other on the respective Consolidated Statements of Financial Position. For DTE Electric, the noncurrent portion is included in Other Assets — Other.
Schedule of Roll-Forward of Activity for Financing Receivables Credit Loss Reserves
The following tables present a roll-forward of the activity for the Registrants' financing receivables credit loss reserves:
DTE EnergyDTE Electric
Trade accounts receivableOther receivablesTotalTrade and other accounts receivable
(In millions)
Beginning reserve balance, January 1, 2024$62 $1 $63 $41 
Current period provision20 — 20 9 
Write-offs charged against allowance(26)— (26)(18)
Recoveries of amounts previously written off12 — 12 8 
Ending reserve balance, March 31, 2024$68 $1 $69 $40 
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 March 31,
20242023
(In millions)
DTE Energy$21 $22 
DTE Electric$10 $8 
v3.24.1.u1
Revenue (Tables)
 3 Months Ended
Mar. 31, 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 March 31,
20242023
(In millions)
Electric(a)
Residential$700 $654 
Commercial556 495 
Industrial183 169 
Other(b)
31 61 
Total Electric operating revenues$1,470 $1,379 
Gas
Gas sales$565 $601 
End User Transportation82 86 
Intermediate Transportation29 31 
Other(b)
35 (11)
Total Gas operating revenues$711 $707 
Other segment operating revenues
DTE Vantage$184 $184 
Energy Trading$933 $1,568 
_______________________________________
(a)Revenues generally represent those of DTE Electric, except $4 million of Other revenues related to DTE Sustainable Generation for both the three months ended March 31, 2024 and 2023.
(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 March 31,
20242023
(In millions)
Electric — Other revenues $4 $5 
Gas — Alternative Revenue Programs$6 $3 
Gas — Other revenues$2 $3 
DTE Vantage — Leases$14 $15 
Energy Trading — Derivatives$659 $1,161 
Summary of Deferred Revenue Activity
The following is a summary of deferred revenue activity for DTE Energy:
Three Months Ended March 31,
20242023
(In millions)
Beginning Balance, January 1$106 $94 
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period35 27 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(25)(34)
Ending Balance, March 31$116 $87 
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$108 
20257 
20261 
2027— 
2028— 
2029 and thereafter— 
$116 
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$191 $6 
2025207 1 
2026126 — 
202794 — 
202863 — 
2029 and thereafter323 — 
$1,004 $7 
v3.24.1.u1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 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 March 31,
20242023
(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company$313 $445 
Less: Allocation of earnings to net restricted stock awards1 1 
Net income available to common shareholders — basic$312 $444 
Average number of common shares outstanding — basic206 206 
Basic Earnings per Common Share$1.51 $2.16 
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company$313 $445 
Less: Allocation of earnings to net restricted stock awards1 1 
Net income available to common shareholders — diluted$312 $444 
Average number of common shares outstanding — basic206 206 
Average performance share awards1 — 
Average number of common shares outstanding — diluted207 206 
Diluted Earnings per Common Share
$1.51 $2.16 
v3.24.1.u1
Fair Value (Tables)
 3 Months Ended
Mar. 31, 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:
March 31, 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)
$19 $150 $— $— $— $169 $13 $— $— $— $— $13 
Nuclear decommissioning trusts
Equity securities843 — — 139 — 982 776 — — 145 — 921 
Fixed income securities117 377 — 99 — 593 127 371 — 92 — 590 
Private equity and other— — — 328 — 328 — — — 312 — 312 
Hedge funds and similar investments128 64 — — — 192 119 65 — — — 184 
Cash equivalents39 — — — — 39 34 — — — — 34 
Other investments(d)
Equity securities66 — — — — 66 58 — — — — 58 
Fixed income securities7 — — — — 7 7 — — — — 7 
Cash equivalents31 — — — — 31 37 — — — — 37 
Other— 200 — — — 200 — — — — — — 
Derivative assets
Commodity contracts(e)
Natural gas162 218 119 — (346)153 241 217 179 — (416)221 
Electricity— 158 77 — (155)80 — 258 163 — (243)178 
Environmental & Other— 142 4 — (142)4 — 131 8 — (132)7 
Other contracts — 11 — — — 11 — — — — — — 
Total derivative assets162 529 200 — (643)248 241 606 350 — (791)406 
Total$1,412 $1,320 $200 $566 $(643)$2,855 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Derivative liabilities
Commodity contracts(e)
Natural gas$(243)$(141)$(122)$— $371 $(135)$(291)$(167)$(157)$— $429 $(186)
Electricity— (165)(102)— 167 (100)— (272)(116)— 297 (91)
Environmental & Other— (159)(2)— 152 (9)— (148)(2)— 137 (13)
Other contracts— (1)— — — (1)— (19)— — — (19)
Total$(243)$(466)$(226)$— $690 $(245)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,169 $854 $(26)$566 $47 $2,610 $1,121 $436 $75 $549 $72 $2,253 
Assets
Current$156 $734 $137 $— $(467)$560 $215 $461 $247 $— $(613)$310 
Noncurrent1,256 586 63 566 (176)2,295 1,197 581 103 549 (178)2,252 
Total Assets$1,412 $1,320 $200 $566 $(643)$2,855 $1,412 $1,042 $350 $549 $(791)$2,562 
Liabilities
Current$(204)$(333)$(105)$— $516 $(126)$(240)$(462)$(145)$— $670 $(177)
Noncurrent(39)(133)(121)— 174 (119)(51)(144)(130)— 193 (132)
Total Liabilities$(243)$(466)$(226)$— $690 $(245)$(291)$(606)$(275)$— $863 $(309)
Net Assets (Liabilities) at end of period$1,169 $854 $(26)$566 $47 $2,610 $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 $19 million and $11 million recorded in Restricted cash on DTE Energy's Consolidated Statements of Financial Position at March 31, 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:
March 31, 2024December 31, 2023
Level 1Level 2Level 3
Other(a)
Net BalanceLevel 1Level 2Level 3
Other(a)
Net Balance
(In millions)
Assets
Cash equivalents(b)
$19 $150 $— $— $169 $11 $— $— $— $11 
Nuclear decommissioning trusts
Equity securities843 — — 139 982 776 — — 145 921 
Fixed income securities117 377 — 99 593 127 371 — 92 590 
Private equity and other— — — 328 328 — — — 312 312 
Hedge funds and similar investments128 64 — — 192 119 65 — — 184 
Cash equivalents39 — — — 39 34 — — — 34 
Other investments
Equity securities23 — — — 23 21 — — — 21 
Cash equivalents19 — — — 19 11 — — — 11 
Derivative assets — FTRs— — 3 — 3 — — 7 — 7 
Total$1,188 $591 $3 $566 $2,348 $1,099 $436 $7 $549 $2,091 
Assets
Current$19 $150 $3 $— $172 $11 $— $7 $— $18 
Noncurrent1,169 441 — 566 2,176 1,088 436 — 549 2,073 
Total Assets$1,188 $591 $3 $566 $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 $19 million and $11 million recorded in Restricted cash on DTE Electric's Consolidated Statements of Financial Position at March 31, 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 March 31, 2024Three Months Ended March 31, 2023
Natural GasElectricityOtherTotalNatural GasElectricityOtherTotal
(In millions)
Net Assets (Liabilities) as of December 31$22 $47 $6 $75 $(255)$(33)$11 $(277)
Total gains (losses)
Included in earnings(a)
(25)(3)(1)(29)151 (45)1 107 
Recorded in Regulatory liabilities— — (2)(2)— — (9)(9)
Purchases, issuances, and settlements
Settlements— (69)(1)(70)42 40 (1)81 
Net Assets (Liabilities) as of March 31$(3)$(25)$2 $(26)$(62)$(38)$2 $(98)
Total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at March 31(a)
$(39)$1 $— $(38)$94 $19 $1 $114 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at March 31$— $— $2 $2 $— $— $(2)$(2)
_______________________________________
(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 March 31,
20242023
(In millions)
Net Assets as of beginning of period$7 $11 
Total losses recorded in Regulatory liabilities(2)(9)
Purchases, issuances, and settlements
Settlements(2)(1)
Net Assets as of March 31$3 $1 
Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at March 31$2 $(2)
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:
March 31, 2024
Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average
(In millions)
Natural Gas$119 $(122)Discounted Cash FlowForward basis price (per MMBtu)$(1.27)—$2.42 /MMBtu$(0.09)/MMBtu
Electricity$77 $(102)Discounted Cash FlowForward basis price (per MWh)$(18.83)—$11.90 /MWh$(4.53)/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:
March 31, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a), excluding lessor finance leases
$417 $— $— $452 $175 $— $— $181 
Short-term borrowings$290 $— $290 $— $1,283 $— $1,283 $— 
Notes payable(b)
$18 $— $— $18 $34 $— $— $34 
Long-term debt(c)
$21,633 $814 $17,983 $1,161 $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:
March 31, 2024December 31, 2023
CarryingFair ValueCarryingFair Value
AmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3
(In millions)
Notes receivable(a)
$16 $— $— $16 $19 $— $— $19 
Short-term borrowings — other$210 $— $210 $— $385 $— $385 $— 
Notes payable(b)
$17 $— $— $17 $33 $— $— $33 
Long-term debt(c)
$11,938 $— $10,653 $136 $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:
March 31, 2024December 31, 2023
(In millions)
Fermi 2$2,118 $2,026 
Fermi 13 3 
Low-level radioactive waste13 12 
$2,134 $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 March 31,
20242023
(In millions)
Realized gains$7 $8 
Realized losses$(6)$(14)
Proceeds from sale of securities$108 $166 
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:
March 31, 2024December 31, 2023
Fair
Value		Unrealized
Gains		Unrealized
Losses		Fair
Value		Unrealized
Gains		Unrealized
Losses
(In millions)
Equity securities$982 $517 $(11)$921 $459 $(11)
Fixed income securities593 11 (32)590 8 (30)
Private equity and other328 86 (8)312 74 (8)
Hedge funds and similar investments192 7 (8)184 4 (9)
Cash equivalents39 — — 34 — — 
$2,134 $621 $(59)$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:
March 31, 2024
(In millions)
Due within one year$10 
Due after one through five years108 
Due after five through ten years101 
Due after ten years275 
$494 
v3.24.1.u1
Financial and Other Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 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:
March 31, 2024December 31, 2023
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
  Interest rate contracts $10 $— $— $(16)
  Foreign currency exchange contracts— (1)— (2)
Total derivatives designated as hedging instruments$10 $(1)$— $(18)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$499 $(506)$637 $(615)
Electricity235 (267)421 (388)
Environmental & Other146 (161)139 (150)
Foreign currency exchange contracts1 — — (1)
Total derivatives not designated as hedging instruments$881 $(934)$1,197 $(1,154)
Current$658 $(642)$910 $(847)
Noncurrent233 (293)287 (325)
Total derivatives$891 $(935)$1,197 $(1,172)
Offsetting Assets
The following table presents net cash collateral offsetting arrangements for DTE Energy:
March 31, 2024December 31, 2023
(In millions)
Cash collateral netted against Derivative assets$(2)$— 
Cash collateral netted against Derivative liabilities49 72 
Cash collateral recorded in Accounts receivable(a)
58 57 
Cash collateral recorded in Accounts payable(a)
(4)(3)
Total net cash collateral posted (received)$101 $126 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
March 31, 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$499 $(346)$153 $637 $(416)$221 
Electricity235 (155)80 421 (243)178 
Environmental & Other146 (142)4 139 (132)7 
Interest rate contracts 10 — 10 — — — 
Foreign currency exchange contracts1 — 1 — — — 
Total derivative assets$891 $(643)$248 $1,197 $(791)$406 
Derivative liabilities
Commodity contracts(a)
Natural gas$(506)$371 $(135)$(615)$429 $(186)
Electricity(267)167 (100)(388)297 (91)
Environmental & Other(161)152 (9)(150)137 (13)
Interest rate contracts— — — (16)— (16)
Foreign currency exchange contracts(1)— (1)(3)— (3)
Total derivative liabilities$(935)$690 $(245)$(1,172)$863 $(309)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Offsetting Liabilities
The following table presents net cash collateral offsetting arrangements for DTE Energy:
March 31, 2024December 31, 2023
(In millions)
Cash collateral netted against Derivative assets$(2)$— 
Cash collateral netted against Derivative liabilities49 72 
Cash collateral recorded in Accounts receivable(a)
58 57 
Cash collateral recorded in Accounts payable(a)
(4)(3)
Total net cash collateral posted (received)$101 $126 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
March 31, 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$499 $(346)$153 $637 $(416)$221 
Electricity235 (155)80 421 (243)178 
Environmental & Other146 (142)4 139 (132)7 
Interest rate contracts 10 — 10 — — — 
Foreign currency exchange contracts1 — 1 — — — 
Total derivative assets$891 $(643)$248 $1,197 $(791)$406 
Derivative liabilities
Commodity contracts(a)
Natural gas$(506)$371 $(135)$(615)$429 $(186)
Electricity(267)167 (100)(388)297 (91)
Environmental & Other(161)152 (9)(150)137 (13)
Interest rate contracts— — — (16)— (16)
Foreign currency exchange contracts(1)— (1)(3)— (3)
Total derivative liabilities$(935)$690 $(245)$(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:
March 31, 2024December 31, 2023
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$658 $233 $(642)$(293)$910 $287 $(847)$(325)
Counterparty netting(467)(174)467 174 (613)(178)613 178 
Collateral adjustment— (2)49 — — — 57 15 
Total derivatives as reported$191 $57 $(126)$(119)$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 March 31,
20242023
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(69)$71 
Natural gasFuel, purchased power, gas, and other — non-utility59 148 
ElectricityOperating Revenues — Non-utility operations(5)(115)
Environmental & OtherOperating Revenues — Non-utility operations(7)(1)
Foreign currency exchange contractsOperating Revenues — Non-utility operations2 — 
Total$(20)$103 
Volume of Commodity Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of March 31, 2024:
CommodityNumber of Units
Natural gas (MMBtu)2,169,902,328 
Electricity (MWh)42,932,324 
Oil (Gallons)3,204,000 
Foreign currency exchange ($ CAD)127,734,587 
FTR (MWh)29,452 
Renewable Energy Certificates (MWh)11,275,250 
Carbon emissions (Metric Tons)123,848 
Interest rate contracts ($ USD)950,000,000 
v3.24.1.u1
Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt Issuances
Refer to the table below for debt issued through March 31, 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 
$2,200 
_______________________________________
(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.
v3.24.1.u1
Short-Term Credit Arrangements and Borrowings (Tables)
 3 Months Ended
Mar. 31, 2024
Short-Term Debt [Abstract]  
Schedule of Line of Credit Facilities
The availability under these facilities as of March 31, 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 2024175 — — 175 
Unsecured letter of credit facility, expiring February 2025150 — — 150 
Unsecured letter of credit facilities(a)
150 — — 150 
Unsecured letter of credit facility(b)
— 100 — 100 
1,975 900 300 3,175 
Amounts outstanding at March 31, 2024
Commercial paper issuances80 210 — 290 
Letters of credit96 58 — 154 
176 268 — 444 
Net availability at March 31, 2024$1,799 $632 $300 $2,731 
_______________________________________
(a)Uncommitted letter of credit facilities with automatic renewal provision and therefore no expiration.
(b)Uncommitted letter of credit facility with automatic renewal provision and therefore no expiration. DTE Energy may also utilize availability under this facility.
v3.24.1.u1
Leases (Tables)
 3 Months Ended
Mar. 31, 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
March 31, 2024
(In millions)
2024$36 
202548 
202647 
202747 
202847 
2029 and Thereafter584 
Total minimum future lease receipts809 
Residual value of leased pipeline17 
Less unearned income421 
Net investment in finance lease405 
Less current portion11 
$394 
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 March 31,
20242023
(In millions)
Fixed payments$4 $4 
Variable payments10 11 
$14 $15 
v3.24.1.u1
Retirement Benefits and Trusteed Assets (Tables)
 3 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Costs (Credits)
The following table details 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 March 31,
Service cost$14 $14 $4 $4 
Interest cost52 54 16 16 
Expected return on plan assets(85)(88)(30)(28)
Amortization of:
Net actuarial loss15 2 2 3 
Prior service credit(1)(1)(3)(4)
Settlements— 2 — — 
Net periodic benefit credit$(5)$(17)$(11)$(9)
The following table details the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:
Three Months Ended March 31,
20242023
(In millions)
Service cost$3 $3 
Interest cost12 12 
Expected return on plan assets(20)(18)
Amortization of:
Prior service credit(1)(3)
Net periodic benefit credit$(6)$(6)
v3.24.1.u1
Segment and Related Information (Tables)
 3 Months Ended
Mar. 31, 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 March 31,
20242023
(In millions)
Electric$18 $17 
Gas4 5 
DTE Vantage11 10 
Energy Trading25 27 
Corporate and Other— — 
$58 $59 
Financial data of DTE Energy's business segments follows:
Three Months Ended March 31,
20242023
(In millions)
Operating Revenues — Utility operations
Electric$1,466 $1,375 
Gas711 707 
Operating Revenues — Non-utility operations
Electric4 4 
DTE Vantage184 184 
Energy Trading933 1,568 
Corporate and Other— — 
Reconciliation and Eliminations(58)(59)
Total$3,240 $3,779 
Three Months Ended March 31,
20242023
(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment
Electric$171 $101 
Gas154 171 
DTE Vantage8 27 
Energy Trading1 138 
Corporate and Other(21)8 
Net Income Attributable to DTE Energy Company$313 $445 
v3.24.1.u1
Organization and Basis of Presentation (Details Textuals)
customer in Millions, $ in Millions
Mar. 31, 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
v3.24.1.u1
Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 292 $ 26
Restricted cash 57 25
Accounts receivable 1,435 1,632
Securitized regulatory assets 741 758
Total Assets 45,902 44,755
LIABILITIES    
Accounts payable 1,098 1,361
DTE Electric    
ASSETS    
Cash and cash equivalents 195 15
Restricted cash 45 17
Securitized regulatory assets 741 758
Total Assets 32,967 32,185
Variable interest entity, primary beneficiary    
ASSETS    
Cash and cash equivalents 8 7
Restricted cash 57 25
Accounts receivable 19 85
Securitized regulatory assets 741 758
Notes receivable 544 183
Other current and long-term assets 1 4
Total Assets 1,370 1,062
LIABILITIES    
Accounts payable 20 59
Accrued interest 17 6
Securitization bonds 769 769
Other current and long-term liabilities 26 20
Total liabilities 832 854
Notes receivable recorded in Current Assets-Other 10  
Current portion of securitization bonds 79 64
Variable interest entity, primary beneficiary | DTE Electric    
ASSETS    
Cash and cash equivalents 0 0
Restricted cash 45 17
Accounts receivable 7 6
Securitized regulatory assets 741 758
Notes receivable 0 0
Other current and long-term assets 0 1
Total Assets 793 782
LIABILITIES    
Accounts payable 0 0
Accrued interest 17 6
Securitization bonds 769 769
Other current and long-term liabilities 11 8
Total liabilities 797 783
Current portion of securitization bonds 79 $ 64
Variable interest entity, primary beneficiary | DTE Vantage    
LIABILITIES    
Increase in notes receivable due to investments related to a large industrial project $ 306  
v3.24.1.u1
Organization and Basis of Presentation (Non-Consolidated Variable Interest Entities) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]    
Investments in equity method investees $ 158 $ 166
Notes receivable 768 420
Variable interest entity, non-consolidated    
Variable Interest Entity [Line Items]    
Investments in equity method investees 100 112
Notes receivable $ 18 $ 15
v3.24.1.u1
Significant Accounting Policies (Other Income) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Schedule of Other Nonoperating Income, by Component [Line Items]    
Allowance for equity funds used during construction $ 18 $ 9
Contract services 7 6
Investment income 6 5
Equity earnings (losses) of equity method investees (8) 4
Other 4 2
Total other income 27 26
DTE Electric    
Schedule of Other Nonoperating Income, by Component [Line Items]    
Allowance for equity funds used during construction 18 9
Contract services 6 6
Investment income 5 3
Other 3 2
Total other income $ 32 $ 20
v3.24.1.u1
Significant Accounting Policies (Income Taxes) (Details)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Schedule of Income Taxes [Line Items]    
Statutory federal income tax rate 21.00% 21.00%
Increase (decrease) due to:    
State and local income taxes, net of federal benefit 4.10% 4.40%
Production tax credits (8.70%) (6.20%)
TCJA regulatory liability amortization (4.90%) (4.10%)
Investment tax credits (3.10%) (2.30%)
AFUDC equity (1.20%) (0.30%)
Enactment of West Virginia income tax legislation, net of federal benefit 0.00% (1.20%)
Other (1.00%) (1.20%)
Effective Tax Rate 6.20% 10.10%
DTE Electric    
Schedule of Income Taxes [Line Items]    
Statutory federal income tax rate 21.00% 21.00%
Increase (decrease) due to:    
State and local income taxes, net of federal benefit 5.30% 5.60%
Production tax credits (10.20%) (7.10%)
TCJA regulatory liability amortization (5.10%) (4.50%)
AFUDC equity (1.50%) (0.30%)
Other 0.10% (0.50%)
Effective Tax Rate 9.60% 14.20%
v3.24.1.u1
Significant Accounting Policies (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Significant Accounting Policies [Line Items]      
Accounts receivable $ 1,435   $ 1,632
Unrecognized compensation cost $ 95    
Recognition period (in years) 2 years    
Specific review of probable future collections based on receivable balances, threshold duration 30 days    
Past due      
Significant Accounting Policies [Line Items]      
Financing receivables $ 0    
Notes receivable      
Significant Accounting Policies [Line Items]      
Financing receivables $ 417    
Notes receivable | Minimum      
Significant Accounting Policies [Line Items]      
Number of days after which receivable is considered delinquent 60 days    
Notes receivable | Maximum      
Significant Accounting Policies [Line Items]      
Number of days after which receivable is considered delinquent 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    
DTE Electric | Notes receivable      
Significant Accounting Policies [Line Items]      
Financing receivables $ 16    
DTE Electric | Notes receivable | Minimum      
Significant Accounting Policies [Line Items]      
Number of days after which receivable is considered delinquent 60 days    
DTE Electric | Notes receivable | Maximum      
Significant Accounting Policies [Line Items]      
Number of days after which receivable is considered delinquent 120 days    
DTE Electric | DTE Energy      
Significant Accounting Policies [Line Items]      
Allocated costs $ 8 $ 10  
DTE Electric | DTE Energy | Federal and State Income Taxes      
Significant Accounting Policies [Line Items]      
Accounts receivable 7    
DTE Electric | DTE Energy | Federal taxes      
Significant Accounting Policies [Line Items]      
Accounts receivable 5   $ 7
DTE Electric | DTE Energy | State taxes      
Significant Accounting Policies [Line Items]      
Accounts receivable $ 2    
v3.24.1.u1
Significant Accounting Policies (Financing Receivables Classified by Internal Grade of Credit Risk) (Details)
$ in Millions
Mar. 31, 2024
USD ($)
Notes receivable  
Financing receivables by year of origination  
2024 $ 364
2023 23
2022 and Prior 30
Total 417
Notes receivable | DTE Electric  
Financing receivables by year of origination  
Total 16
Notes receivable | Internal grade 1  
Financing receivables by year of origination  
2024 0
2023 15
2022 and Prior 4
Total 19
Notes receivable | Internal grade 1 | DTE Electric  
Financing receivables by year of origination  
Total 15
Notes receivable | Internal grade 2  
Financing receivables by year of origination  
2024 364
2023 8
2022 and Prior 26
Total 398
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 122
2023 0
2022 and Prior 283
Total 405
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 122
2023 0
2022 and Prior 247
Total 369
Net investment in leases | Internal grade 2 | DTE Electric  
Financing receivables by year of origination  
Total $ 0
v3.24.1.u1
Significant Accounting Policies (Roll-Forward of Activity for Financing Receivables Credit Loss Reserves) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 63 $ 79
Current period provision 20 52
Write-offs charged against allowance (26) (112)
Recoveries of amounts previously written off 12 44
Ending balance 69 63
DTE Electric    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 41 49
Current period provision 9 36
Write-offs charged against allowance (18) (72)
Recoveries of amounts previously written off 8 28
Ending balance 40 41
Trade accounts receivable    
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance 62 78
Current period provision 20 52
Write-offs charged against allowance (26) (112)
Recoveries of amounts previously written off 12 44
Ending balance 68 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
v3.24.1.u1
Significant Accounting Policies (Uncollectible Expense) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Uncollectible expense $ 21 $ 22
DTE Electric    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Uncollectible expense $ 10 $ 8
v3.24.1.u1
Revenue (Disaggregation of Revenue By Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]    
Revenues $ 3,240 $ 3,779
Operating segments | Electric    
Disaggregation of Revenue [Line Items]    
Revenues 1,470 1,379
Operating segments | Electric | Residential    
Disaggregation of Revenue [Line Items]    
Revenues 700 654
Operating segments | Electric | Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 556 495
Operating segments | Electric | Industrial    
Disaggregation of Revenue [Line Items]    
Revenues 183 169
Operating segments | Electric | Other    
Disaggregation of Revenue [Line Items]    
Revenues 31 61
Operating segments | Electric | Other | DTE Sustainable Generation    
Disaggregation of Revenue [Line Items]    
Revenues 4 4
Operating segments | Gas    
Disaggregation of Revenue [Line Items]    
Revenues 711 707
Operating segments | Gas | Gas sales    
Disaggregation of Revenue [Line Items]    
Revenues 565 601
Operating segments | Gas | End User Transportation    
Disaggregation of Revenue [Line Items]    
Revenues 82 86
Operating segments | Gas | Intermediate Transportation    
Disaggregation of Revenue [Line Items]    
Revenues 29 31
Operating segments | Gas | Other    
Disaggregation of Revenue [Line Items]    
Revenues 35 (11)
Operating segments | DTE Vantage    
Disaggregation of Revenue [Line Items]    
Revenues 184 184
Operating segments | Energy Trading    
Disaggregation of Revenue [Line Items]    
Revenues $ 933 $ 1,568
v3.24.1.u1
Revenue (Revenues Outside the Scope of Topic 606) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]    
Leases $ 14 $ 15
Operating segments | Electric    
Disaggregation of Revenue [Line Items]    
Other revenues 4 5
Operating segments | Gas    
Disaggregation of Revenue [Line Items]    
Other revenues 2 3
Alternative Revenue Program 6 3
Operating segments | DTE Vantage    
Disaggregation of Revenue [Line Items]    
Leases 14 15
Operating segments | Energy Trading    
Disaggregation of Revenue [Line Items]    
Derivatives $ 659 $ 1,161
v3.24.1.u1
Revenue (Deferred Revenue Activity) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Contract Liability [Roll Forward]    
Beginning Balance $ 106 $ 94
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period 35 27
Revenue recognized that was included in the deferred revenue balance at the beginning of the period (25) (34)
Ending Balance $ 116 $ 87
v3.24.1.u1
Revenue (Expected Recognition of Deferred Revenue) (Details) - Deferred revenue
$ in Millions
Mar. 31, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 116
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 108
Remaining performance obligation, expected timing of satisfaction 9 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 $ 7
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 0
Remaining performance obligation, expected timing of satisfaction 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
v3.24.1.u1
Revenue (Expected Timing of Performance Obligation Satisfaction) (Details) - Fixed-price Contract
$ in Millions
Mar. 31, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 1,004
DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation 7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 191
Remaining performance obligation, expected timing of satisfaction 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | DTE Electric  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 6
Remaining performance obligation, expected timing of satisfaction 9 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 $ 207
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 $ 126
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 $ 94
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 $ 63
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 $ 323
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
v3.24.1.u1
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%  
v3.24.1.u1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Basic Earnings per Share    
Net Income Attributable to DTE Energy Company $ 313 $ 445
Less: Allocation of earnings to net restricted stock awards 1 1
Net income available to common shareholders — basic $ 312 $ 444
Average number of common shares outstanding — basic (in shares) 206 206
Basic Earnings per Common Share (in dollars per share) $ 1.51 $ 2.16
Diluted Earnings per Share    
Net Income Attributable to DTE Energy Company $ 313 $ 445
Less: Allocation of earnings to net restricted stock awards 1 1
Net income available to common shareholders — diluted $ 312 $ 444
Average number of common shares outstanding — basic (in shares) 206 206
Average performance share awards (in shares) 1 0
Average number of common shares outstanding — diluted (in shares) 207 206
Diluted Earnings per Common Share (in dollars per share) $ 1.51 $ 2.16
v3.24.1.u1
Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Derivative assets    
Derivative assets, gross $ 891 $ 1,197
Derivative asset, netting (643) (791)
Derivative liabilities    
Derivative liabilities, gross (935) (1,172)
Derivative liability, netting 690 863
DTE Electric    
Assets    
Nuclear decommissioning trusts 2,134 2,041
Current liabilities    
Derivative liabilities    
Derivative liabilities, gross (642) (847)
Noncurrent liabilities    
Derivative liabilities    
Derivative liabilities, gross (293) (325)
Natural gas    
Derivative assets    
Derivative assets, gross 499 637
Derivative asset, netting (346) (416)
Derivative liabilities    
Derivative liabilities, gross (506) (615)
Derivative liability, netting 371 429
Electricity    
Derivative assets    
Derivative assets, gross 235 421
Derivative asset, netting (155) (243)
Derivative liabilities    
Derivative liabilities, gross (267) (388)
Derivative liability, netting 167 297
Environmental & Other    
Derivative assets    
Derivative assets, gross 146 139
Derivative asset, netting (142) (132)
Derivative liabilities    
Derivative liabilities, gross (161) (150)
Derivative liability, netting 152 137
Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 39 34
Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 328 312
Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 192 184
Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 982 921
Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 593 590
Recurring    
Assets    
Cash equivalents 169 13
Derivative assets    
Derivative asset, netting (643) (791)
Derivative assets, net 248 406
Total Assets 2,855 2,562
Derivative liabilities    
Derivative liability, netting 690 863
Total Liabilities (245) (309)
Net Assets (Liabilities) at end of period 2,610 2,253
Net Assets (Liabilities) at end of period, netting 47 72
Recurring | DTE Electric    
Assets    
Cash equivalents 169 11
Derivative assets    
Total Assets 2,348 2,091
Recurring | Current assets    
Derivative assets    
Derivative asset, netting (467) (613)
Total Assets 560 310
Recurring | Current assets | DTE Electric    
Derivative assets    
Total Assets 172 18
Recurring | Noncurrent assets    
Derivative assets    
Derivative asset, netting (176) (178)
Total Assets 2,295 2,252
Recurring | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 2,176 2,073
Recurring | Current liabilities    
Derivative liabilities    
Derivative liability, netting 516 670
Total Liabilities (126) (177)
Recurring | Noncurrent liabilities    
Derivative liabilities    
Derivative liability, netting 174 193
Total Liabilities (119) (132)
Recurring | Restricted cash    
Assets    
Cash equivalents 19 11
Recurring | Restricted cash | DTE Electric    
Assets    
Cash equivalents 19 11
Recurring | Natural gas    
Derivative assets    
Derivative asset, netting (346) (416)
Derivative assets, net 153 221
Derivative liabilities    
Derivative liability, netting 371 429
Derivative liabilities, net (135) (186)
Recurring | Electricity    
Derivative assets    
Derivative asset, netting (155) (243)
Derivative assets, net 80 178
Derivative liabilities    
Derivative liability, netting 167 297
Derivative liabilities, net (100) (91)
Recurring | Environmental & Other    
Derivative assets    
Derivative asset, netting (142) (132)
Derivative assets, net 4 7
Derivative liabilities    
Derivative liability, netting 152 137
Derivative liabilities, net (9) (13)
Recurring | Other Contract    
Derivative assets    
Derivative asset, netting 0 0
Derivative assets, net 11 0
Derivative liabilities    
Derivative liability, netting 0 0
Derivative liabilities, net (1) (19)
Recurring | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 3 7
Recurring | Cash equivalents    
Assets    
Nuclear decommissioning trusts 39 34
Other investments 31 37
Recurring | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 39 34
Other investments 19 11
Recurring | Private equity and other    
Assets    
Nuclear decommissioning trusts 328 312
Recurring | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 328 312
Recurring | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 192 184
Recurring | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 192 184
Recurring | Equity securities    
Assets    
Nuclear decommissioning trusts 982 921
Other investments 66 58
Recurring | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 982 921
Other investments 23 21
Recurring | Fixed income securities    
Assets    
Nuclear decommissioning trusts 593 590
Other investments 7 7
Recurring | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 593 590
Recurring | Other    
Assets    
Other investments 200 0
Recurring | Level 1    
Assets    
Cash equivalents 19 13
Derivative assets    
Derivative assets, gross 162 241
Total Assets 1,412 1,412
Derivative liabilities    
Total Liabilities (243) (291)
Net Assets (Liabilities) at end of period 1,169 1,121
Recurring | Level 1 | DTE Electric    
Assets    
Cash equivalents 19 11
Derivative assets    
Total Assets 1,188 1,099
Recurring | Level 1 | Current assets    
Derivative assets    
Total Assets 156 215
Recurring | Level 1 | Current assets | DTE Electric    
Derivative assets    
Total Assets 19 11
Recurring | Level 1 | Noncurrent assets    
Derivative assets    
Total Assets 1,256 1,197
Recurring | Level 1 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 1,169 1,088
Recurring | Level 1 | Current liabilities    
Derivative liabilities    
Total Liabilities (204) (240)
Recurring | Level 1 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (39) (51)
Recurring | Level 1 | Natural gas    
Derivative assets    
Derivative assets, gross 162 241
Derivative liabilities    
Derivative liabilities, gross (243) (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 Contract    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 1 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 0 0
Recurring | Level 1 | Cash equivalents    
Assets    
Nuclear decommissioning trusts 39 34
Other investments 31 37
Recurring | Level 1 | Cash equivalents | DTE Electric    
Assets    
Nuclear decommissioning trusts 39 34
Other investments 19 11
Recurring | Level 1 | Private equity and other    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 1 | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 0 0
Recurring | Level 1 | Hedge funds and similar investments    
Assets    
Nuclear decommissioning trusts 128 119
Recurring | Level 1 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 128 119
Recurring | Level 1 | Equity securities    
Assets    
Nuclear decommissioning trusts 843 776
Other investments 66 58
Recurring | Level 1 | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 843 776
Other investments 23 21
Recurring | Level 1 | Fixed income securities    
Assets    
Nuclear decommissioning trusts 117 127
Other investments 7 7
Recurring | Level 1 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 117 127
Recurring | Level 1 | Other    
Assets    
Other investments 0 0
Recurring | Level 2    
Assets    
Cash equivalents 150 0
Derivative assets    
Derivative assets, gross 529 606
Total Assets 1,320 1,042
Derivative liabilities    
Total Liabilities (466) (606)
Net Assets (Liabilities) at end of period 854 436
Recurring | Level 2 | DTE Electric    
Assets    
Cash equivalents 150 0
Derivative assets    
Total Assets 591 436
Recurring | Level 2 | Current assets    
Derivative assets    
Total Assets 734 461
Recurring | Level 2 | Current assets | DTE Electric    
Derivative assets    
Total Assets 150 0
Recurring | Level 2 | Noncurrent assets    
Derivative assets    
Total Assets 586 581
Recurring | Level 2 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 441 436
Recurring | Level 2 | Current liabilities    
Derivative liabilities    
Total Liabilities (333) (462)
Recurring | Level 2 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (133) (144)
Recurring | Level 2 | Natural gas    
Derivative assets    
Derivative assets, gross 218 217
Derivative liabilities    
Derivative liabilities, gross (141) (167)
Recurring | Level 2 | Electricity    
Derivative assets    
Derivative assets, gross 158 258
Derivative liabilities    
Derivative liabilities, gross (165) (272)
Recurring | Level 2 | Environmental & Other    
Derivative assets    
Derivative assets, gross 142 131
Derivative liabilities    
Derivative liabilities, gross (159) (148)
Recurring | Level 2 | Other Contract    
Derivative assets    
Derivative assets, gross 11 0
Derivative liabilities    
Derivative liabilities, gross (1) (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 64 65
Recurring | Level 2 | Hedge funds and similar investments | DTE Electric    
Assets    
Nuclear decommissioning trusts 64 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 377 371
Other investments 0 0
Recurring | Level 2 | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 377 371
Recurring | Level 2 | Other    
Assets    
Other investments 200 0
Recurring | Level 3    
Assets    
Cash equivalents 0 0
Derivative assets    
Derivative assets, gross 200 350
Total Assets 200 350
Derivative liabilities    
Total Liabilities (226) (275)
Net Assets (Liabilities) at end of period (26) 75
Recurring | Level 3 | DTE Electric    
Assets    
Cash equivalents 0 0
Derivative assets    
Total Assets 3 7
Recurring | Level 3 | Current assets    
Derivative assets    
Total Assets 137 247
Recurring | Level 3 | Current assets | DTE Electric    
Derivative assets    
Total Assets 3 7
Recurring | Level 3 | Noncurrent assets    
Derivative assets    
Total Assets 63 103
Recurring | Level 3 | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 0 0
Recurring | Level 3 | Current liabilities    
Derivative liabilities    
Total Liabilities (105) (145)
Recurring | Level 3 | Noncurrent liabilities    
Derivative liabilities    
Total Liabilities (121) (130)
Recurring | Level 3 | Natural gas    
Derivative assets    
Derivative assets, gross 119 179
Derivative liabilities    
Derivative liabilities, gross (122) (157)
Recurring | Level 3 | Electricity    
Derivative assets    
Derivative assets, gross 77 163
Derivative liabilities    
Derivative liabilities, gross (102) (116)
Recurring | Level 3 | Environmental & Other    
Derivative assets    
Derivative assets, gross 4 8
Derivative liabilities    
Derivative liabilities, gross (2) (2)
Recurring | Level 3 | Other Contract    
Derivative assets    
Derivative assets, gross 0 0
Derivative liabilities    
Derivative liabilities, gross 0 0
Recurring | Level 3 | Derivative assets — FTRs | DTE Electric    
Derivative assets    
Derivative assets, net 3 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 566 549
Derivative liabilities    
Net Assets (Liabilities) at end of period 566 549
Recurring | Other | DTE Electric    
Derivative assets    
Total Assets 566 549
Recurring | Other | Noncurrent assets    
Derivative assets    
Total Assets 566 549
Recurring | Other | Noncurrent assets | DTE Electric    
Derivative assets    
Total Assets 566 549
Recurring | Other | Private equity and other    
Assets    
Nuclear decommissioning trusts 328 312
Recurring | Other | Private equity and other | DTE Electric    
Assets    
Nuclear decommissioning trusts 328 312
Recurring | Other | Equity securities    
Assets    
Nuclear decommissioning trusts 139 145
Recurring | Other | Equity securities | DTE Electric    
Assets    
Nuclear decommissioning trusts 139 145
Recurring | Other | Fixed income securities    
Assets    
Nuclear decommissioning trusts 99 92
Recurring | Other | Fixed income securities | DTE Electric    
Assets    
Nuclear decommissioning trusts $ 99 $ 92
v3.24.1.u1
Fair Value (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Current investments $ 200 $ 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 $ 99  
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 $ 150 $ 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  
v3.24.1.u1
Fair Value (Reconciliation of Level 3 Assets and Liabilities at Fair Value on a Recurring Basis) (Details) - Recurring - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]    
Net Assets (Liabilities) as of beginning of period $ 75 $ (277)
Total gains (losses)    
Included in earnings (29) 107
Recorded in Regulatory liabilities (2) (9)
Purchases, issuances, and settlements    
Settlements (70) 81
Net Assets (Liabilities) as of end of period (26) (98)
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 (38) 114
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 (2)
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 7 11
Total gains (losses)    
Recorded in Regulatory liabilities (2) (9)
Purchases, issuances, and settlements    
Settlements (2) (1)
Net Assets (Liabilities) as of end of period 3 1
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 (2)
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 22 (255)
Total gains (losses)    
Included in earnings (25) 151
Recorded in Regulatory liabilities 0 0
Purchases, issuances, and settlements    
Settlements 0 42
Net Assets (Liabilities) as of end of period (3) (62)
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 (39) 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
Electricity    
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]    
Net Assets (Liabilities) as of beginning of period 47 (33)
Total gains (losses)    
Included in earnings (3) (45)
Recorded in Regulatory liabilities 0 0
Purchases, issuances, and settlements    
Settlements (69) 40
Net Assets (Liabilities) as of end of period (25) (38)
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 1 19
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
Other    
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]    
Net Assets (Liabilities) as of beginning of period 6 11
Total gains (losses)    
Included in earnings (1) 1
Recorded in Regulatory liabilities (2) (9)
Purchases, issuances, and settlements    
Settlements (1) (1)
Net Assets (Liabilities) as of end of period 2 2
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 0 1
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 $ (2)
v3.24.1.u1
Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details)
$ in Millions
Mar. 31, 2024
USD ($)
$ / MMBTU
$ / MWh
Dec. 31, 2023
USD ($)
$ / MMBTU
$ / MWh
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 891 $ 1,197
Derivative Liabilities (935) (1,172)
Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 499 637
Derivative Liabilities (506) (615)
Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 235 421
Derivative Liabilities $ (267) $ (388)
Level 3 | Natural gas | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU (1.27) (1.57)
Level 3 | Natural gas | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU 2.42 6.27
Level 3 | Natural gas | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MMBTU (0.09) (0.08)
Level 3 | Electricity | Forward basis price | Minimum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (18.83) (18.49)
Level 3 | Electricity | Forward basis price | Maximum | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh 11.90 15.47
Level 3 | Electricity | Forward basis price | Weighted Average | Discounted Cash Flow    
Unobservable Inputs Valuation Techniques [Line Items]    
Forward basis price | $ / MWh (4.53) (3.99)
Recurring | Level 3    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets $ 200 $ 350
Recurring | Level 3 | Natural gas    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 119 179
Derivative Liabilities (122) (157)
Recurring | Level 3 | Electricity    
Unobservable Inputs Valuation Techniques [Line Items]    
Derivative Assets 77 163
Derivative Liabilities $ (102) $ (116)
v3.24.1.u1
Fair Value (Fair Value of Financial Instruments) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Carrying amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable $ 417 $ 175
Short-term borrowings 290 1,283
Notes payable 18 34
Long-term debt 21,633 19,546
Carrying amount | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 16 19
Short-term borrowings 210 385
Notes payable 17 33
Long-term debt 11,938 11,043
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 814 807
Fair value | Level 1 | DTE Electric    
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 0 0
Fair value | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 290 1,283
Notes payable 0 0
Long-term debt 17,983 16,178
Fair value | Level 2 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 0 0
Short-term borrowings 210 385
Notes payable 0 0
Long-term debt 10,653 9,999
Fair value | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 452 181
Short-term borrowings 0 0
Notes payable 18 34
Long-term debt 1,161 1,202
Fair value | Level 3 | DTE Electric    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable 16 19
Short-term borrowings 0 0
Notes payable 17 33
Long-term debt $ 136 $ 126
v3.24.1.u1
Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds $ 2,134 $ 2,041
DTE Electric    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 2,134 2,041
DTE Electric | Nuclear decommissioning trust fund    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 2,134 2,041
DTE Electric | Nuclear decommissioning trust fund | Fermi 2    
Debt Securities, Available-for-sale [Line Items]    
Nuclear decommissioning trust funds 2,118 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 $ 13 $ 12
v3.24.1.u1
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
Mar. 31, 2024
Mar. 31, 2023
Debt Securities, Available-for-sale [Line Items]    
Realized gains $ 7 $ 8
Realized losses (6) (14)
Proceeds from sale of securities $ 108 $ 166
v3.24.1.u1
Fair Value (Fair Value and Unrealized Gains and Losses for the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]    
Fair Value $ 2,134 $ 2,041
Unrealized Gains 621 545
Unrealized Losses (59) (58)
Cash equivalents    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 39 34
Unrealized Gains 0 0
Unrealized Losses 0 0
Private equity and other    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 328 312
Unrealized Gains 86 74
Unrealized Losses (8) (8)
Hedge funds and similar investments    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 192 184
Unrealized Gains 7 4
Unrealized Losses (8) (9)
Equity securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 982 921
Unrealized Gains 517 459
Unrealized Losses (11) (11)
Fixed income securities    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 593 590
Unrealized Gains 11 8
Unrealized Losses $ (32) $ (30)
v3.24.1.u1
Fair Value (Fair Value of Fixed Income Securities Held in Nuclear Decommissioning Trust Funds (Details) - Fixed income securities - Nuclear decommissioning trust fund
$ in Millions
Mar. 31, 2024
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due within one year $ 10
Due after one through five years 108
Due after five through ten years 101
Due after ten years 275
Fixed income securities total $ 494
v3.24.1.u1
Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 891 $ 1,197
Derivative Liabilities (935) (1,172)
Current derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 658 910
Current derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (642) (847)
Noncurrent derivative assets    
Derivatives, Fair Value [Line Items]    
Derivative Assets 233 287
Noncurrent derivative liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liabilities (293) (325)
Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 10 0
Derivative Liabilities 0 (16)
Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1 0
Derivative Liabilities (1) (3)
Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 499 637
Derivative Liabilities (506) (615)
Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 235 421
Derivative Liabilities (267) (388)
Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 146 139
Derivative Liabilities (161) (150)
Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative Assets 10 0
Derivative Liabilities (1) (18)
Derivatives designated as hedging instruments | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 10 0
Derivative Liabilities 0 (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 881 1,197
Derivative Liabilities (934) (1,154)
Derivatives not designated as hedging instruments | Foreign currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivative Assets 1 0
Derivative Liabilities 0 (1)
Derivatives not designated as hedging instruments | Natural gas    
Derivatives, Fair Value [Line Items]    
Derivative Assets 499 637
Derivative Liabilities (506) (615)
Derivatives not designated as hedging instruments | Electricity    
Derivatives, Fair Value [Line Items]    
Derivative Assets 235 421
Derivative Liabilities (267) (388)
Derivatives not designated as hedging instruments | Environmental & Other    
Derivatives, Fair Value [Line Items]    
Derivative Assets 146 139
Derivative Liabilities (161) (150)
Derivatives not designated as hedging instruments | FTRs | Other current assets | DTE Electric    
Derivatives, Fair Value [Line Items]    
Derivative Assets $ 3 $ 7
v3.24.1.u1
Financial and Other Derivative Instruments (Details Textuals) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Letters of credit issued that could be used to offset net derivative liabilities $ 3 $ 3
Letters of credit received that could be used to offset net derivative assets 4 $ 10
Contractual obligation to post collateral in event of downgrade to below investment grade 413  
Derivative net liability position aggregate fair value 793  
Collateral already posted fair value 5  
Derivative net asset position, fair value 622  
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions $ 166  
v3.24.1.u1
Financial and Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Cash collateral netted against Derivative assets $ (2) $ 0
Cash collateral netted against Derivative liabilities 49 72
Cash collateral recorded in Accounts receivable 58 57
Cash collateral recorded in Accounts payable (4) (3)
Total net cash collateral posted (received) $ 101 $ 126
v3.24.1.u1
Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilities) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) $ 891 $ 1,197
Gross Amounts Offset in the Consolidated Statements of Financial Position (643) (791)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 248 406
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (935) (1,172)
Gross Amounts Offset in the Consolidated Statements of Financial Position 690 863
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (245) (309)
Natural gas    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 499 637
Gross Amounts Offset in the Consolidated Statements of Financial Position (346) (416)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 153 221
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (506) (615)
Gross Amounts Offset in the Consolidated Statements of Financial Position 371 429
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (135) (186)
Electricity    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 235 421
Gross Amounts Offset in the Consolidated Statements of Financial Position (155) (243)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 80 178
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (267) (388)
Gross Amounts Offset in the Consolidated Statements of Financial Position 167 297
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (100) (91)
Environmental & Other    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 146 139
Gross Amounts Offset in the Consolidated Statements of Financial Position (142) (132)
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position 4 7
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) (161) (150)
Gross Amounts Offset in the Consolidated Statements of Financial Position 152 137
Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position (9) (13)
Interest rate contracts    
Derivative assets    
Gross Amounts of Recognized Assets (Liabilities) 10 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 10 0
Derivative liabilities    
Gross Amounts of Recognized Assets (Liabilities) 0 (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 0 (16)
Foreign currency exchange 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) (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)
v3.24.1.u1
Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Derivative Assets    
Derivative Assets $ 891 $ 1,197
Collateral adjustment (2) 0
Derivative assets, current 191 297
Derivative assets, noncurrent 57 109
Derivative Liabilities    
Derivative Liabilities (935) (1,172)
Collateral adjustment 49 72
Derivative liabilities, current (126) (177)
Derivative liabilities, noncurrent (119) (132)
Current derivative assets    
Derivative Assets    
Derivative Assets 658 910
Counterparty netting (467) (613)
Collateral adjustment 0 0
Noncurrent derivative assets    
Derivative Assets    
Derivative Assets 233 287
Counterparty netting (174) (178)
Collateral adjustment (2) 0
Current derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (642) (847)
Counterparty netting 467 613
Collateral adjustment 49 57
Noncurrent derivative liabilities    
Derivative Liabilities    
Derivative Liabilities (293) (325)
Counterparty netting 174 178
Collateral adjustment $ 0 $ 15
v3.24.1.u1
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
Mar. 31, 2024
Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in Income on Derivatives $ (20) $ 103
Natural gas | Operating Revenues — Non-utility operations    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in Income on Derivatives (69) 71
Natural gas | Fuel, purchased power, gas, and other — non-utility    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in Income on Derivatives 59 148
Electricity | Operating Revenues — Non-utility operations    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in Income on Derivatives (5) (115)
Environmental & Other | Operating Revenues — Non-utility operations    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in Income on Derivatives (7) (1)
Foreign currency exchange contracts | Operating Revenues — Non-utility operations    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) Recognized in Income on Derivatives $ 2 $ 0
v3.24.1.u1
Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details) - 3 months ended Mar. 31, 2024
CAD ($)
MWh
MMBTU
T
gal
USD ($)
Natural gas (MMBtu)    
Derivative [Line Items]    
Commodity, energy measures | MMBTU 2,169,902,328  
Electricity (MWh)    
Derivative [Line Items]    
Commodity, energy measures 42,932,324  
Oil (Gallons)    
Derivative [Line Items]    
Commodity, volume measure | gal 3,204,000  
Foreign currency exchange ($ CAD)    
Derivative [Line Items]    
Commodity, monetary measure | $ $ 127,734,587  
FTR (MWh)    
Derivative [Line Items]    
Commodity, energy measures 29,452  
Renewable Energy Certificates (MWh)    
Derivative [Line Items]    
Commodity, energy measures 11,275,250  
Carbon emissions (Metric Tons)    
Derivative [Line Items]    
Commodity, mass measure | T 123,848  
Interest rate contracts ($ USD)    
Derivative [Line Items]    
Commodity, monetary measure | $   $ 950,000,000
v3.24.1.u1
Long-Term Debt (Schedule of Issued Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Feb. 29, 2024
Debt Instrument [Line Items]    
Amount $ 2,200  
Senior Notes | February 2024 5.10% Senior Notes maturing in 2029    
Debt Instrument [Line Items]    
Interest rate   5.10%
Amount   $ 1,200
Mortgage Bonds | February 2024 5.20% Mortgage Bonds maturing in 2034    
Debt Instrument [Line Items]    
Amount   $ 500
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%
v3.24.1.u1
Long-Term Debt (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Debt Instrument [Line Items]    
Debt redeemed $ 100 $ 0
DTE Electric    
Debt Instrument [Line Items]    
Debt redeemed 100 $ 0
DTE Electric | Mortgage Bonds | 2013 Series B Mortgage Bonds    
Debt Instrument [Line Items]    
Debt redeemed $ 100  
Interest rate 3.65%  
v3.24.1.u1
Short-Term Credit Arrangements and Borrowings (Details Textuals)
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Short-term Debt [Line Items]    
Maximum borrowing capacity $ 3,175,000,000  
DTE Electric    
Short-term Debt [Line Items]    
Maximum borrowing capacity $ 900,000,000  
Ratio of indebtedness to net capital 0.53  
DTE Gas    
Short-term Debt [Line Items]    
Maximum borrowing capacity $ 300,000,000  
Ratio of indebtedness to net capital 0.45  
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 0.64  
DTE Energy | Demand financing agreement    
Short-term Debt [Line Items]    
Maximum borrowing capacity, financing agreement $ 200,000,000  
Amount outstanding $ 140,000,000 $ 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  
v3.24.1.u1
Short-Term Credit Arrangements and Borrowings (Details)
$ in Millions
Mar. 31, 2024
USD ($)
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity $ 3,175
Amounts outstanding 444
Net availability 2,731
DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 900
Amounts outstanding 268
Net availability 632
DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 300
Amounts outstanding 0
Net availability 300
DTE Energy  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 1,975
Amounts outstanding 176
Net availability 1,799
Letters of credit  
Line Of Credit Facility [Line Items]  
Amounts outstanding 154
Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Amounts outstanding 58
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 96
Commercial paper issuances  
Line Of Credit Facility [Line Items]  
Amounts outstanding 290
Commercial paper issuances | DTE Electric  
Line Of Credit Facility [Line Items]  
Amounts outstanding 210
Commercial paper issuances | DTE Gas  
Line Of Credit Facility [Line Items]  
Amounts outstanding 0
Commercial paper issuances | DTE Energy  
Line Of Credit Facility [Line Items]  
Amounts outstanding 80
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 June 2024 | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 175
Unsecured letter of credit facility, expiring June 2024 | Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring June 2024 | Letters of credit | DTE Gas  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 0
Unsecured letter of credit facility, expiring June 2024 | 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 facilities | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 150
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 150
Unsecured letter of credit facility | Letters of credit  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 100
Unsecured letter of credit facility | Letters of credit | DTE Electric  
Line Of Credit Facility [Line Items]  
Maximum borrowing capacity 100
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
v3.24.1.u1
Leases (Details Textuals) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Lessor, Lease, Description [Line Items]    
Interest income recognized under finance leases $ 8 $ 7
Infrastructure Assets, 20-Year Term Ending in 2044    
Lessor, Lease, Description [Line Items]    
Finance lease agreement, term 20 years  
Net investment in finance lease $ 119  
v3.24.1.u1
Leases (Components of Net Investment in Finance Leases) (Details)
$ in Millions
Mar. 31, 2024
USD ($)
Leases [Abstract]  
2024 $ 36
2025 48
2026 47
2027 47
2028 47
2029 and Thereafter 584
Total minimum future lease receipts 809
Residual value of leased pipeline 17
Less unearned income 421
Net investment in finance lease 405
Less current portion 11
Net investment in finance leases $ 394
v3.24.1.u1
Leases (Lease Income Associated with Operating Leases) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Leases [Abstract]    
Fixed payments $ 4 $ 4
Variable payments 10 11
Total lease income under operating leases $ 14 $ 15
v3.24.1.u1
Commitments and Contingencies (Details)
 1 Months Ended 3 Months Ended
Jun. 30, 2022
USD ($)
Mar. 31, 2024
USD ($)
employee
facility
site
Dec. 31, 2023
USD ($)
Loss Contingencies [Line Items]      
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   4,900  
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   $ 392,000,000  
Other guarantees      
Loss Contingencies [Line Items]      
Maximum potential liability   44,000,000  
Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   334,000,000  
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
Number of permitted engineered ash storage facilities owned | facility   3  
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   2,550  
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 | Performance surety bonds      
Loss Contingencies [Line Items]      
Performance bonds outstanding   $ 159,000,000  
DTE Electric | EPA Regulations and Clean Water Act Section 316(b), capital expenditures      
Loss Contingencies [Line Items]      
Estimated impact of the environmental rules   81,000,000  
Estimated impact of the environmental rules through 2028   54,000,000  
DTE Electric | Coal Combustion Residual and Effluent Limitations Guidelines Rules, capital expenditures      
Loss Contingencies [Line Items]      
Estimated impact of the environmental rules   412,000,000  
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   $ 26,000,000 $ 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    
v3.24.1.u1
Retirement Benefits and Trusteed Assets (Net Periodic Benefit Costs (Credits) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost $ 14 $ 14
Interest cost 52 54
Expected return on plan assets (85) (88)
Amortization of net actuarial loss 15 2
Amortization of prior service credit (1) (1)
Settlements 0 2
Net periodic benefit credit (5) (17)
Pension Benefits | DTE Electric    
Defined Benefit Plan Disclosure [Line Items]    
Net periodic benefit credit (1) (9)
Other Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 4 4
Interest cost 16 16
Expected return on plan assets (30) (28)
Amortization of net actuarial loss 2 3
Amortization of prior service credit (3) (4)
Settlements 0 0
Net periodic benefit credit (11) (9)
Other Postretirement Benefits | DTE Electric    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 3 3
Interest cost 12 12
Expected return on plan assets (20) (18)
Amortization of prior service credit (1) (3)
Net periodic benefit credit $ (6) $ (6)
v3.24.1.u1
Retirement Benefits and Trusteed Assets (Details Textuals) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pension plans    
Defined Benefit Plan Disclosure [Line Items]    
Pension credit $ 5,000,000 $ 17,000,000
Anticipated contributions, current fiscal year 0  
Postretirement benefit plans    
Defined Benefit Plan Disclosure [Line Items]    
Pension credit 11,000,000 9,000,000
Anticipated contributions, current fiscal year 0  
DTE Electric | Pension plans    
Defined Benefit Plan Disclosure [Line Items]    
Pension credit 1,000,000 9,000,000
DTE Electric | Postretirement benefit plans    
Defined Benefit Plan Disclosure [Line Items]    
Pension credit $ 6,000,000 $ 6,000,000
v3.24.1.u1
Segment and Related Information (Details Textuals)
customer in Millions
Mar. 31, 2024
customer
Segment Reporting [Abstract]  
Number of electric utility customers 2.3
Number of gas utility customers 1.3
v3.24.1.u1
Segment and Related Information (Financial Data - Inter-segment Billing) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting Information [Line Items]    
Operating Revenues $ (3,240) $ (3,779)
Reconciliation and Eliminations    
Segment Reporting Information [Line Items]    
Operating Revenues 58 59
Reconciliation and Eliminations | Electric    
Segment Reporting Information [Line Items]    
Operating Revenues 18 17
Reconciliation and Eliminations | Gas    
Segment Reporting Information [Line Items]    
Operating Revenues 4 5
Reconciliation and Eliminations | DTE Vantage    
Segment Reporting Information [Line Items]    
Operating Revenues 11 10
Reconciliation and Eliminations | Energy Trading    
Segment Reporting Information [Line Items]    
Operating Revenues 25 27
Reconciliation and Eliminations | Corporate and Other    
Segment Reporting Information [Line Items]    
Operating Revenues $ 0 $ 0
v3.24.1.u1
Segment and Related Information (Financial Data - Operating Revenues including Inter-segment Revenues) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues — Utility operations $ 2,156 $ 2,060
Operating Revenues — Non-utility operations 1,084 1,719
Operating Revenues 3,240 3,779
Reconciliation and Eliminations    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues — Non-utility operations (58) (59)
Operating Revenues (58) (59)
Electric | Operating segments    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues — Utility operations 1,466 1,375
Operating Revenues — Non-utility operations 4 4
Operating Revenues 1,470 1,379
Electric | Reconciliation and Eliminations    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues (18) (17)
Gas | Operating segments    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues — Utility operations 711 707
Operating Revenues 711 707
Gas | Reconciliation and Eliminations    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues (4) (5)
DTE Vantage | Operating segments    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues — Non-utility operations 184 184
Operating Revenues 184 184
DTE Vantage | Reconciliation and Eliminations    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues (11) (10)
Energy Trading | Operating segments    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues — Non-utility operations 933 1,568
Operating Revenues 933 1,568
Energy Trading | Reconciliation and Eliminations    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues (25) (27)
Corporate and Other | Operating segments    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues — Non-utility operations 0 0
Corporate and Other | Reconciliation and Eliminations    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Operating Revenues $ 0 $ 0
v3.24.1.u1
Segment and Related Information (Financial Data - Net Income (Loss) Attributable to DTE Energy by Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Net Income (Loss) Attributable to DTE Energy Company $ 313 $ 445
Electric    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Net Income (Loss) Attributable to DTE Energy Company 171 101
Gas    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Net Income (Loss) Attributable to DTE Energy Company 154 171
DTE Vantage    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Net Income (Loss) Attributable to DTE Energy Company 8 27
Energy Trading    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Net Income (Loss) Attributable to DTE Energy Company 1 138
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 $ (21) $ 8