Company: DTK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000936340-25-000223
Chunk: 214

Company: DTE ENERGY CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 214
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 (Benefit) changed $8 million and $5 million in the three and nine months ended September 30, 2025, respectively.  The decrease in the third quarter was primarily due to lower earnings.  The increase in the nine-month period 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.

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 September 30,Nine Months Ended September 30,2025202420252024(In millions)Operating Revenues — Non-utility operations$163 $190 $520 $555 Operating ExpensesFuel, purchased power, and gas — non-utility75 87 254 279 Operation and maintenance68 66 198 199 Depreciation and amortization15 14 44 43 Taxes other than income4 2 13 8 Asset (gains) losses and impairments, net3 — 1 (1)165 169 510 528 Operating Income (Loss)(2)21 10 27 Other (Income) and Deductions(19)(23)(56)(66)Income TaxesExpense4 13 16 25 Tax credits(20)(2)(53)(6)(16)11 (37)19 Net Income Attributable to DTE Energy Company$33 $33 $103 $74 

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Operating Revenues — Non-utility operations decreased $27 million and $35 million in the three and nine months ended September 30, 2025, respectively.  The decrease in both periods was due to the following:

Three MonthsNine Months(In millions)Lower demand and prices in the Steel business$(23)$(77)New project in the On-site business1 4 Higher prices in the On-site business— 8 Higher