Company: DTK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000936340-25-000223
Chunk: 12

Company: DTE ENERGY CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 to carbon capture and sequestration projects.

63

ENERGY TRADING SEGMENT

Energy Trading focuses on physical and financial power, natural gas and environmental marketing and trading, structured transactions, enhancement of returns from its asset portfolio, and optimization of contracted 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 September 30,Nine Months Ended September 30,2025202420252024(In millions)Operating Revenues — Non-utility operations$1,179 $840 $4,529 $2,610 Operating ExpensesPurchased power, gas, and other — non-utility1,109 757 4,335 2,425 Operation and maintenance24 22 74 69 Depreciation and amortization— 2 3 4 Taxes other than income— 1 4 4 1,133 782 4,416 2,502 Operating Income46 58 113 108 Other (Income) and Deductions2 2 1 (1)Income Tax Expense11 14 28 27 Net Income Attributable to DTE Energy Company$33 $42 $84 $82 

Operating Revenues — Non-utility operations increased $339 million and $1,919 million in the three and nine months ended September 30, 2025, respectively.  The following tables detail changes relative to the comparable prior periods:

Three Months(In millions)Gas structured and gas transportation strategies - $325 primarily due to higher gas prices, $1 settled financial hedges $326 Unrealized MTM - ($31) losses compared to $11 gains in the prior period(42)Other realized gain (loss)55 $339 

Nine Months(In millions)Realized gas structured and gas transportation strategies - $1,540 primarily due to higher gas prices, $23 settled financial hedges$1,563 Unrealized MTM - $110 gains compared to ($67) losses in the prior period177 Other realized gain (loss)179 $1,919 

Purchased power, gas, and other — non-utility expense increased $352 million and $1,910 million in the three and nine