v3.25.2
Financial and Other Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments
The following table presents the fair value of derivative instruments for DTE Energy:
June 30, 2025December 31, 2024
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
(In millions)
Derivatives designated as hedging instruments
  Interest rate contracts $2 $(1)$20 $— 
  Foreign currency exchange contracts— (1)— (1)
Total derivatives designated as hedging instruments$2 $(2)$20 $(1)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas$327 $(321)$428 $(410)
Electricity253 (225)187 (150)
Environmental & Other129 (79)58 (44)
Foreign currency exchange contracts— — 1 — 
Total derivatives not designated as hedging instruments$709 $(625)$674 $(604)
Current$462 $(381)$488 $(441)
Noncurrent249 (246)206 (164)
Total derivatives$711 $(627)$694 $(605)
Schedule of Net Cash Collateral Offsetting Arrangements and Netting Offsets of Derivative Assets
The following table presents net cash collateral offsetting arrangements for DTE Energy:
June 30, 2025December 31, 2024
(In millions)
Cash collateral netted against Derivative assets$(41)$(17)
Cash collateral recorded in Accounts receivable(a)
30 29 
Cash collateral recorded in Accounts payable(a)
(13)(5)
Total net cash collateral posted (received)$(24)$7 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
June 30, 2025December 31, 2024
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$327 $(249)$78 $428 $(285)$143 
Electricity253 (179)74 187 (116)71 
Environmental & Other129 (99)30 58 (46)12 
Interest rate contracts 2 — 2 20 — 20 
Foreign currency exchange contracts— — — 1 — 1 
Total derivative assets$711 $(527)$184 $694 $(447)$247 
Derivative liabilities
Commodity contracts(a)
Natural gas$(321)$225 $(96)$(410)$272 $(138)
Electricity(225)182 (43)(150)114 (36)
Environmental & Other(79)79 — (44)44 — 
Interest rate contracts(1)— (1)— — — 
Foreign currency exchange contracts(1)— (1)(1)— (1)
Total derivative liabilities$(627)$486 $(141)$(605)$430 $(175)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Schedule of Netting Offsets of Derivative Liabilities
The following table presents net cash collateral offsetting arrangements for DTE Energy:
June 30, 2025December 31, 2024
(In millions)
Cash collateral netted against Derivative assets$(41)$(17)
Cash collateral recorded in Accounts receivable(a)
30 29 
Cash collateral recorded in Accounts payable(a)
(13)(5)
Total net cash collateral posted (received)$(24)$7 
_______________________________________
(a)Amounts are recorded net by counterparty.
The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
June 30, 2025December 31, 2024
Gross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial PositionGross Amounts of Recognized Assets (Liabilities)Gross Amounts Offset in the Consolidated Statements of Financial PositionNet Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
(In millions)
Derivative assets
Commodity contracts(a)
Natural gas$327 $(249)$78 $428 $(285)$143 
Electricity253 (179)74 187 (116)71 
Environmental & Other129 (99)30 58 (46)12 
Interest rate contracts 2 — 2 20 — 20 
Foreign currency exchange contracts— — — 1 — 1 
Total derivative assets$711 $(527)$184 $694 $(447)$247 
Derivative liabilities
Commodity contracts(a)
Natural gas$(321)$225 $(96)$(410)$272 $(138)
Electricity(225)182 (43)(150)114 (36)
Environmental & Other(79)79 — (44)44 — 
Interest rate contracts(1)— (1)— — — 
Foreign currency exchange contracts(1)— (1)(1)— (1)
Total derivative liabilities$(627)$486 $(141)$(605)$430 $(175)
_______________________________________
(a)For contracts with a clearing agent, DTE Energy nets all activity across commodities. This can result in some individual commodities having a contra balance.
Schedule of Netting Offsets of Derivative Assets and Liabilities Reconciliation to the Statements of Financial Position
The following table presents the netting offsets of Derivative assets and liabilities showing the reconciliation of derivative instruments to DTE Energy's Consolidated Statements of Financial Position:
June 30, 2025December 31, 2024
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
CurrentNoncurrentCurrentNoncurrentCurrentNoncurrentCurrentNoncurrent
(In millions)
Total fair value of derivatives$462 $249 $(381)$(246)$488 $206 $(441)$(164)
Counterparty netting(324)(162)324 162 (323)(107)323 107 
Collateral adjustment(19)(22)— — (3)(14)— — 
Total derivatives as reported$119 $65 $(57)$(84)$162 $85 $(118)$(57)
Schedule of Effect of Derivatives Not Designated as Hedging Instruments
The effect of derivatives not designated as hedging instruments on DTE Energy's Consolidated Statements of Operations is as follows:
Location of Gain (Loss) Recognized in Income on DerivativesGain (Loss) Recognized in Income on Derivatives for the Three Months Ended June 30,Gain (Loss) Recognized in Income on Derivatives for the Six Months Ended June 30,
2025202420252024
(In millions)
Commodity contracts
Natural gasOperating Revenues — Non-utility operations$(10)$45 $84 $(24)
Natural gasFuel, purchased power, gas, and other — non-utility(46)(21)(146)38 
ElectricityOperating Revenues — Non-utility operations111 95 156 90 
Environmental & OtherOperating Revenues — Non-utility operations14 3 23 (4)
Foreign currency exchange contractsOperating Revenues — Non-utility operations— — — 2 
Total$69 $122 $117 $102 
Schedule of Cumulative Gross Volume of Derivative Contracts
The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of June 30, 2025:
CommodityNumber of Units
Natural gas (MMBtu)2,247,537,487 
Electricity (MWh)44,132,344 
Foreign currency exchange ($ CAD)76,295,577 
FTR (MWh)177,114 
Renewable Energy Certificates (MWh)13,834,765 
Carbon emissions (Metric Tons)1,280,358 
Interest rate contracts ($ USD)500,000,000