Company: DTK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000936340-25-000097
Chunk: 56

Company: DTE ENERGY CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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Table of ContentsDTE Energy Company — DTE Electric CompanyCombined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

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)2025$165 $11 2026175 1 2027136 — 202894 — 202980 — 2030 and thereafter328 — $978 $12 

NOTE 5 — REGULATORY MATTERS

2022 Electric PSCR ReconciliationIn March 2023, DTE Electric filed its 2022 PSCR Reconciliation that included the under-recovery of approximately $421 million of power supply costs incurred under reasonable and prudent policies and practices.  The request was subsequently reduced to $416 million.  On February 27, 2025, the MPSC issued an order approving recovery of $387 million of these costs resulting in a disallowance of approximately $33 million, inclusive of interest.  The disallowance was included in Operating Revenues – Utility operations and Interest expense on the Consolidated Statements of Operation in the first quarter of 2025.2025 Electric Rate Case FilingDTE Electric filed a rate case with the MPSC on April 24, 2025 requesting an increase in base rates of $574 million based on a projected twelve-month period ending December 31, 2026, and an increase in return on equity from 9.9% to 10.75%.  The requested increase in base rates was primarily due to capital investments required to support continued reliability improvements and the ongoing transition to cleaner energy.  A final MPSC order in this case is expected in February 2026.

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Table of ContentsDTE Energy Company — DTE Electric CompanyCombined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 6 — EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income, adjusted for income