Company: DTK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000936340-25-000097
Chunk: 7

Company: DTE ENERGY CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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$69 Weather52 Implementation of new rates45 Regulatory mechanism — RDM6 Midstream storage and transportation revenues5 Regulatory mechanism — EWR4 Infrastructure recovery mechanism(18)Other2 $165 

Revenue results are impacted by changes in sales volumes, which are summarized in the table below:

Three Months Ended March 31,20252024(In Bcf)Gas MarketsGas sales71 61 End-user transportation48 51 119 112 Intermediate transportation164 151 Total283 263 

Cost of gas — utility expense increased $70 million in the three months ended March 31, 2025.  The increase was primarily due to higher sales volumes of $44 million and higher cost of gas of $26 million.

Operation and maintenance expense increased $20 million in the three months ended March 31, 2025.  The increase was primarily due to higher gas operations expense of $12 million, higher legal expense of $5 million, higher uncollectible expense of $5 million, and higher energy waste reduction expense of $4 million, partially offset by one-time costs resulting from the voluntary separation incentive program of $8 million in the prior year that did not repeat in 2025.

Taxes other than income expense increased $5 million in the three months ended March 31, 2025.  The increase was primarily due to higher property taxes.

Other (Income) and Deductions increased $4 million in the three months ended March 31, 2025.  The increase was primarily due to higher interest expense.

Income Tax Expense increased $14 million in the three months ended March 31, 2025.  The increase was primarily due to higher earnings.

Outlook — DTE Gas will continue to move forward in its efforts to achieve operational excellence, sustain strong cash flows, and earn its authorized return on equity.  DTE Gas expects that planned significant infrastructure capital investments will result in earnings growth.  Looking forward, additional factors may impact earnings such as weather and the outcome of regulatory proceedings.  DTE Gas expects to continue its efforts to improve productivity and decrease costs while improving customer satisfaction with consideration of customer rate affordability.

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DTE VANTAGE SEGMENT

The DTE Vantage segment is comprised primarily of renewable energy projects that sell electricity and pipeline-quality gas and projects that deliver custom energy solutions to industrial, commercial, and institutional customers.  DTE Vantage results and outlook are discussed below:

Three Months Ended March 31