Company: DTK
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000936340-25-000182
Chunk: 114

Company: DTE ENERGY CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 114
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, $35 settled financial hedges $497 Unrealized MTM - $29 gains compared to $73 gains in the prior period(44)Other realized gain (loss)34 $487 

Six Months(In millions)Realized gas structured and gas transportation strategies - $1,215 primarily due to higher gas prices, $22 settled financial hedges$1,237 Unrealized MTM - $141 gains compared to ($78) losses in the prior period219 Other realized gain (loss)124 $1,580 

Purchased power, gas, and other — non-utility expense increased $557 million and $1,558 million in the three and six months ended June 30, 2025, respectively.  The following tables detail changes relative to the comparable prior periods:

Three Months(In millions)Gas structured and gas transportation strategies - primarily higher gas prices$502 Unrealized MTM - $46 losses compared to $21 losses in the prior period25 Other realized (gain) loss30 $557 

63

Six Months(In millions)Realized gas structured and gas transportation strategies - primarily higher gas prices$1,262 Unrealized MTM - $146 losses compared to ($38) gains in the prior period184 Other realized (gain) loss112 $1,558 

Operation and maintenance expense increased $3 million in the six months ended June 30, 2025.  The increase in the six-month period was primarily due to higher compensation costs.

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) decreased $73 million for the three months ended June 30, 2025, which includes a $59 million unfavorable change in timing related gains and losses primarily related to gas strategies that will reverse in future periods as the underlying contracts settle.  The decrease also includes a $5 million unfavorable change in timing related gains primarily related to gas strategies that were recognized in previous periods and reversed in the current period as the underlying contracts settled.

Operating Income (Loss) increased $17 million for the six months ended June 30, 2025, which includes a $104 million unfavorable change in timing related gains and losses primarily