Company: DTK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000936340-25-000223
Chunk: 11

Company: DTE ENERGY CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 1 Higher prices in the On-site business1 7 Higher (lower) sales in the Renewables business(1)25 $(12)$(25)

Operation and maintenance expense increased $2 million and decreased $1 million in the three and nine months ended September 30, 2025, respectively.  The increase in the third quarter was primarily due to estimated litigation penalties in the Steel business of $8 million, partially offset by lower costs in the Renewables business of $3 million and Steel business of $2 million.  The decrease in the nine-month period was primarily due to lower costs in the Renewables business of $9 million, partially offset by the estimated litigation penalties in the Steel business of $8 million as mentioned above.

Taxes other than income expense increased $2 million and $5 million in the three and nine months ended September 30, 2025, respectively.  The increase in both periods was primarily due to higher property taxes associated with a new project in the On-site business.

Asset (gains) losses and impairments, net increased $3 million and $2 million in the three and nine months ended September 30, 2025, respectively.  The increase in both periods was primarily due to storm related property loss in the Renewables business of $3 million.

Other (Income) and Deductions decreased $4 million and $10 million in the three and nine months ended September 30, 2025, respectively.  The decrease in the third quarter was primarily due to lower equity earnings in the Renewables business of $7 million, partially offset by lower net interest expense of $3 million.  The decrease in the nine-month period was primarily due to a prior year gain in the Renewables business of $25 million attributed to the sale of a partnership interest and higher interest expense of $2 million, partially offset by higher interest income of $11 million primarily associated with a new project in the On-site business and higher equity earnings of $6 million.

Income Taxes — Tax credits increased $18 million and $47 million in the three and nine months ended September 30, 2025, respectively.  The increase in the 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