DTE Energy, DTE Electric, and DTE Gas have unsecured revolving credit agreements that can be used for general corporate borrowings, but are intended to provide liquidity support for each of the companies’ commercial paper programs. Borrowings under the revolvers are available at prevailing short-term interest rates. Letters of credit of up to $500 million may also be issued under the DTE Energy revolver. DTE Energy and DTE Electric also have other facilities to support letter of credit issuance and increase liquidity.

The unsecured revolving credit agreements require a total funded debt to capitalization ratio of no more than 0.70 to 1 for DTE Energy and 0.65 to 1 for DTE Electric and DTE Gas. In the agreements, "total funded debt" means all indebtedness of each respective company and their consolidated subsidiaries, including finance lease obligations, hedge agreements, and guarantees of third parties’ debt, but excluding contingent obligations, nonrecourse and junior subordinated debt, and certain equity-linked securities and, except for calculations at the end of the second quarter, certain DTE Gas short-term debt. "Capitalization" means the sum of (a) total funded debt plus (b) "consolidated net worth," which is equal to consolidated total equity of each respective company and their consolidated subsidiaries (excluding pension effects under certain FASB statements), as determined in accordance with accounting principles generally accepted in the United States of America. At June 30, 2025, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.65 to 1, 0.53 to 1, and 0.48 to 1, respectively, and were in compliance with this financial covenant.


	DTE Energy		DTE Electric		DTE Gas		Total
	(In millions)
Unsecured revolving credit facility, expiring October 2029	$	1,500	$	800	$	300	$	2,600
Unsecured letter of credit facility, expiring June 2026(a)	150		—		—		150
Unsecured letter of credit facility, expiring February 2027	150		—		—		150
Unsecured letter of credit facility, expiring June 2027	100		—		—		100
Unsecured letter of credit facility(b)	50		—		—		50
Unsecured letter of credit facility(c)	—		150		—		150


	1,950		950		300		3,200
Amounts outstanding at June 30, 2025

Commercial paper issuances	—		597		—		597

Letters of credit	165		137		—		302
	165		734		—		899
Net availability at June 30, 2025	$	1,785	$	216	$	300	$	2,301

In conjunction with maintaining certain exchange-traded risk management positions, DTE Energy may be required to post collateral with a clearing agent. DTE Energy has a demand financing agreement with its clearing agent, which allows the right of setoff with posted collateral. At June 30, 2025, the capacity under the facility was $200 million. The amounts outstanding under demand financing agreements were $102 million and $49 million at June 30, 2025 and December 31, 2024, respectively, and were fully offset by posted collateral.