Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 12

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 in the three and six months ended June 30, 2025, respectively.  The following tables detail changes relative to the comparable prior periods:

Three Months(In millions)Gas structured and gas transportation strategies - $462 primarily due to higher gas prices, $35 settled financial hedges $497 Unrealized MTM - $29 gains compared to $73 gains in the prior period(44)Other realized gain (loss)34 $487 

Six Months(In millions)Realized gas structured and gas transportation strategies - $1,215 primarily due to higher gas prices, $22 settled financial hedges$1,237 Unrealized MTM - $141 gains compared to ($78) losses in the prior period219 Other realized gain (loss)124 $1,580 

Purchased power, gas, and other — non-utility expense increased $557 million and $1,558 million in the three and six months ended June 30, 2025, respectively.  The following tables detail changes relative to the comparable prior periods:

Three Months(In millions)Gas structured and gas transportation strategies - primarily higher gas prices$502 Unrealized MTM - $46 losses compared to $21 losses in the prior period25 Other realized (gain) loss30 $557 

63

Six Months(In millions)Realized gas structured and gas transportation strategies - primarily higher gas prices$1,262 Unrealized MTM - $146 losses compared to ($38) gains in the prior period184 Other realized (gain) loss112 $1,558 

Operation and maintenance expense increased $3 million in the six months ended June 30, 2025.  The increase in the six-month period was primarily due to higher compensation costs.

Natural gas structured transactions typically involve a physical purchase or sale of natural gas in the future and/or natural gas basis financial instruments which are derivatives and a related non-derivative pipeline transportation contract.  These gas structured transactions can result in significant earnings volatility as the derivative components are marked-to-market without revaluing the related non-derivative contracts.

Operating Income (Loss) decreased $73 million for the three months ended June 30, 2025, which includes a $59 million unfavorable change in timing related gains and losses primarily related to gas strategies that will reverse in future periods as the underlying contracts settle.  The decrease also includes a $5 million unfavorable change in timing related gains primarily related to gas strategies that were recognized in previous