Company: DTK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000936340-25-000223
Chunk: 195

Company: DTE ENERGY CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 195
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 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 $69 million at September 30, 2025.  Payments under these guarantees are considered remote.

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

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 September 30, 2025, DTE Energy had $424 million of performance bonds outstanding, including $248 million for DTE Electric.  Performance bonds are not individually material, except for $131 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 ContractsThere are several bargaining units for DTE Energy subsidiaries' approximately 4,800 represented employees, including DTE Electric's approximately 2,550 represented employees.  This represents 50% and 58% of DTE Energy's and DTE Electric's total employees, respectively.  Of these represented employees, approximately 15% have contracts expiring within one year for DTE Energy.  Approximately 22% of the represented employees have contracts expiring within one year for DTE Electric.Purchase CommitmentsUtility capital expenditures and expenditures for non-utility businesses will be approximately $4.9 billion and $3.7 billion in 2025 for DTE Energy and DTE Electric, respectively.  The Registrants have made certain commitments in connection with the estimated 2025 annual capital expenditures.Ludington Plant Contract DisputeDTE Electric and Consumers Energy Company ("Consumers"), joint owners of the Ludington Hydroelectric Pumped Storage plant ("Ludington"), entered into a 2010 engineering