Company: DTK
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000936340-25-000065
Chunk: 107

Company: DTE ENERGY CO
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 107
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 Income Tax Expense (Benefit)(31)78 25 Net Income Attributable to DTE Energy Company$1,072 $772 $956 

See DTE Electric's Consolidated Statements of Operations in Item 8 of this Report for a complete view of its results.  Differences between the Electric segment and DTE Electric's Consolidated Statements of Operations are primarily due to non-utility operations at DTE Sustainable Generation (some of which includes intra-segment activity that is eliminated in consolidation) and the classification of certain benefit costs.  Refer to Note 19 to the Consolidated Financial Statements, "Retirement Benefits and Trusteed Assets" for additional information.

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Operating Revenues increased $475 million in 2024 and decreased $594 million in 2023.  Revenues associated with certain mechanisms and surcharges, including recovery of fuel and purchased power, are offset by related expenses elsewhere in the Registrants' Consolidated Statements of Operations.  The change in both periods was due to the following:

20242023(In millions)Implementation of new rates$338 $43 Weather158 (235)Regulatory mechanism — DTE Securitization I and II52 26 Interconnection sales28 (128)Base sales15 (71)Rate mix3 63 COVID-19 voluntary refund amortization in 2022— (30)Power Supply Cost Recovery(a)(27)(287)Regulatory mechanism — RPS(b)(95)23 Other regulatory mechanisms and other(c)3 2 $475 $(594)

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(a)Includes impact of nuclear PTCs recognized in 2024.  Nuclear PTCs are separately recorded in Income Tax Expense (Benefit) with an offsetting reduction to revenue for recoverable power supply costs as tax savings are passed on to customers.

(b)Includes impact of solar ITCs recognized in 2024, which offset Income Tax Expense (Benefit).

(c)Primarily includes regulatory mechanisms relating to EWR and TRM.

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

202420232022(In thousands of MWh)DTE Electric SalesResidential15,131 14,452 15,844 Commercial16,220 15,916 16,296 Industrial8,555 8,551 8,548 Other199 204 210 40,105 39,123 40,898 Inter