Company: DTK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000936340-25-000097
Chunk: 9

Company: DTE ENERGY CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 9
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 natural gas pipeline transportation and storage positions.  Energy Trading also provides natural gas, power, environmental, and related services, which may include the management of associated storage and transportation contracts on the customers' behalf and the supply or purchase of environmental attributes to various customers.  Energy Trading results and outlook are discussed below:

Three Months Ended March 31,20252024(In millions)Operating Revenues — Non-utility operations$2,026 $933 Operating ExpensesPurchased power, gas, and other — non-utility1,906 905 Operation and maintenance29 26 Depreciation and amortization1 1 Taxes other than income2 3 1,938 935 Operating Income (Loss)88 (2)Other (Income) and Deductions(1)(3)Income Tax Expense22 — Net Income Attributable to DTE Energy Company$67 $1 

Operating Revenues — Non-utility operations increased $1,093 million in the three months ended March 31, 2025.  The following table details changes relative to the comparable prior period:

Three Months(In millions)Realized gas structured and gas transportation strategies - $753 primarily due to higher gas prices, ($13) settled financial hedges$740 Unrealized MTM - $112 gains compared to ($151) losses in the prior period263 Other realized gain (loss)90 $1,093 

Purchased power, gas, and other — non-utility expense increased $1,001 million in the three months ended March 31, 2025.  The following table details changes relative to the comparable prior period:

Three Months(In millions)Realized gas structured and gas transportation strategies - primarily higher gas prices$760 Unrealized MTM - $100 losses compared to ($59) gains in the prior period159 Other realized (gain) loss82 $1,001 

Operation and maintenance expense increased $3 million in the three months ended March 31, 2025.  The increase was primarily due to higher compensation costs.

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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) increased $90 million for the