Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 11

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 of $25 million attributed to the sale of a partnership interest in the prior year.  The decrease in the six-month period was primarily due to the prior year gain of $25 million in the Renewables business and higher interest expense of $3 million, partially offset by higher equity earnings of $14 million and higher interest income of $9 million primarily associated with a new project in the On-site business.

Income Taxes — Tax credits increased $15 million and $29 million in the three and six months ended June 30, 2025, respectively.  The increase in both periods was primarily due to higher estimated production tax credits in the Renewables business.

Outlook — DTE Vantage will continue to leverage its extensive energy-related operating experience and project management capability to develop additional renewable natural gas projects and other projects that will provide customer specific energy solutions.  DTE Vantage is also developing decarbonization opportunities relating to carbon capture and sequestration projects.

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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 June 30,Six Months Ended June 30,2025202420252024(In millions)Operating Revenues — Non-utility operations$1,324 $837 $3,350 $1,770 Operating ExpensesPurchased power, gas, and other — non-utility1,320 763 3,226 1,668 Operation and maintenance21 21 50 47 Depreciation and amortization2 1 3 2 Taxes other than income2 — 4 3 1,345 785 3,283 1,720 Operating Income (Loss)(21)52 67 50 Other (Income) and Deductions— — (1)(3)Income Tax Expense (Benefit)(5)13 17 13 Net Income (Loss) Attributable to DTE Energy Company$(16)$39 $51 $40 

Operating Revenues — Non-utility operations increased $487 million and $1,580 million