Company: DTK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000936340-25-000097
Chunk: 143

Company: DTE ENERGY CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 143
---
Net Assets as of March 31$3 $3 Total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at March 31$— $2 Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity.  Transfers in and transfers out are reflected as if they had occurred at the beginning of the period.  There were no transfers from or into Level 3 for DTE Electric during the three months ended March 31, 2025 and 2024.The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:March 31, 2025Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average(In millions)Natural Gas$98 $(98)Discounted Cash FlowForward basis price (per MMBtu)$(1.36)—$2.52 /MMBtu$(0.04)/MMBtuElectricity$13 $(104)Discounted Cash FlowForward basis price (per MWh)$(17.35)—$18.38 /MWh$(4.30)/MWhDecember 31, 2024Commodity ContractsDerivative AssetsDerivative LiabilitiesValuation TechniquesUnobservable InputRangeWeighted Average(In millions)Natural Gas$105 $(123)Discounted Cash FlowForward basis price (per MMBtu)$(1.24)—$9.96 /MMBtu$(0.05)/MMBtuElectricity$51 $(27)Discounted Cash FlowForward basis price (per MWh)$(16.34)—$17.28 /MWh$(2.74)/MWhThe unobservable inputs used in the fair value measurement of the electricity and natural gas commodity types consist of inputs that are less observable due in part to lack of available broker quotes, supported by little, if any, market activity at the measurement date or are based on internally developed models.  Certain basis prices (i.e., the difference in pricing between two locations) included in the valuation of natural gas and electricity contracts were deemed unobservable.  The weighted average price for unobservable inputs was calculated using the average of forward price curves for natural gas and electricity and the absolute value of monthly volumes.The inputs listed above would have had a direct impact on the fair values of the above security types if