Company: DTK
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000936340-25-000097
Chunk: 180

Company: DTE ENERGY CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 180
---
 purchase of environmental attributes to various customers.  Energy Trading results and outlook are discussed below:

Three Months Ended March 31,20252024(In millions)Operating Revenues — Non-utility operations$2,026 $933 Operating ExpensesPurchased power, gas, and other — non-utility1,906 905 Operation and maintenance29 26 Depreciation and amortization1 1 Taxes other than income2 3 1,938 935 Operating Income (Loss)88 (2)Other (Income) and Deductions(1)(3)Income Tax Expense22 — Net Income Attributable to DTE Energy Company$67 $1 

Operating Revenues — Non-utility operations increased $1,093 million in the three months ended March 31, 2025.  The following table details changes relative to the comparable prior period:

Three Months(In millions)Realized gas structured and gas transportation strategies - $753 primarily due to higher gas prices, ($13) settled financial hedges$740 Unrealized MTM - $112 gains compared to ($151) losses in the prior period263 Other realized gain (loss)90 $1,093 

Purchased power, gas, and other — non-utility expense increased $1,001 million in the three months ended March 31, 2025.  The following table details changes relative to the comparable prior period:

Three Months(In millions)Realized gas structured and gas transportation strategies - primarily higher gas prices$760 Unrealized MTM - $100 losses compared to ($59) gains in the prior period159 Other realized (gain) loss82 $1,001 

Operation and maintenance expense increased $3 million in the three months ended March 31, 2025.  The increase was primarily due to higher compensation costs.

59

Natural gas structured transactions typically involve a physical purchase or sale of natural gas in the future and/or natural gas basis financial instruments which are derivatives and a related non-derivative pipeline transportation contract.  These gas structured transactions can result in significant earnings volatility as the derivative components are marked-to-market without revaluing the related non-derivative contracts.

Operating Income (Loss) increased $90 million for the three months ended March 31, 2025, which includes a $47 million unfavorable change in timing related gains primarily related to gas strategies that will reverse in future periods as the underlying contracts settle.  The increase also