Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 72

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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)—$18.15 /MWh$(4.25)/MWhDecember 31, 2024Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average(In millions)Natural Gas$105 $(123)Discounted Cash FlowForward basis price (per MMBtu)$(1.24)—$9.96 /MMBtu$(0.05)/MMBtuElectricity$51 $(27)Discounted Cash FlowForward basis price (per MWh)$(16.34)—$17.28 /MWh$(2.74)/MWhThe 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 InstrumentsThe following table presents the carrying amount and fair value of financial instruments for DTE Energy:June 30, 2025December 31, 2024CarryingFair ValueCarryingFair ValueAmountLevel 1Level 2Level 3AmountLevel 1Level 2Level 3(In millions)Notes receivable(a), excluding lessor finance leases$1,050 $— $— $1,067 $884 $— $— $904 Short-term borrowings$597 $— $597 $— $1,067 $— $1,067 $— Notes payable(b)$43 $— $— $43 $37 $— $— $37 Long-term debt(c)$23,165 $685 $19,880 $1,144 $21,963 $725 $18,283 $1,128 _______________________________________(a