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Financial and Other Derivative Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Instruments | The following table presents the fair value of derivative instruments for DTE Energy:
| December 31, 2024 |  | December 31, 2023
| Derivative Assets |  | Derivative Liabilities |  | Derivative Assets |  | Derivative Liabilities
| (In millions)
Derivatives designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts | $ | 20 |  |  | $ | — |  |  | $ | — |  |  | $ | (16) |
Foreign currency exchange contracts | — |  |  | (1) |  |  | — |  |  | (2) |
Total derivatives designated as hedging instruments | $ | 20 |  |  | $ | (1) |  |  | $ | — |  |  | $ | (18) |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
Commodity contracts |  |  |  |  |  |  |
Natural gas | $ | 428 |  |  | $ | (410) |  |  | $ | 637 |  |  | $ | (615) |
Electricity | 187 |  |  | (150) |  |  | 421 |  |  | (388) |
Environmental & Other | 58 |  |  | (44) |  |  | 139 |  |  | (150) |
Foreign currency exchange contracts | 1 |  |  | — |  |  | — |  |  | (1) |
Total derivatives not designated as hedging instruments | $ | 674 |  |  | $ | (604) |  |  | $ | 1,197 |  |  | $ | (1,154) |
Current | $ | 488 |  |  | $ | (441) |  |  | $ | 910 |  |  | $ | (847) |
Noncurrent | 206 |  |  | (164) |  |  | 287 |  |  | (325) |
Total derivatives | $ | 694 |  |  | $ | (605) |  |  | $ | 1,197 |  |  | $ | (1,172) |
Offsetting Assets | The following table presents net cash collateral offsetting arrangements for DTE Energy:
| December 31,
| 2024 |  | 2023
| (In millions)
Cash collateral netted against Derivative assets | $ | (17) |  |  | $ | — |
Cash collateral netted against Derivative liabilities | — |  |  | 72 |
Cash collateral recorded in Accounts receivable(a) | 29 |  |  | 57 |
Cash collateral recorded in Accounts payable(a) | (5) |  |  | (3) |
Total net cash collateral posted (received) | $ | 7 |  |  | $ | 126 |
_______________________________________ (a)Amounts are recorded net by counterparty. The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
| December 31, 2024 |  | December 31, 2023
| Gross Amounts of Recognized Assets (Liabilities) |  | Gross Amounts Offset in the Consolidated Statements of Financial Position |  | Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position |  | Gross Amounts of Recognized Assets (Liabilities) |  | Gross Amounts Offset in the Consolidated Statements of Financial Position |  | Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
| (In millions)
Derivative assets |  |  |  |  |  |  |  |  |  |  |
Commodity contracts(a) |  |  |  |  |  |  |  |  |  |  |
Natural gas | $ | 428 |  |  | $ | (285) |  |  | $ | 143 |  |  | $ | 637 |  |  | $ | (416) |  |  | $ | 221 |
Electricity | 187 |  |  | (116) |  |  | 71 |  |  | 421 |  |  | (243) |  |  | 178 |
Environmental & Other | 58 |  |  | (46) |  |  | 12 |  |  | 139 |  |  | (132) |  |  | 7 |
Interest rate contracts | 20 |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | — |
Foreign currency exchange contracts | 1 |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |
Total derivative assets | $ | 694 |  |  | $ | (447) |  |  | $ | 247 |  |  | $ | 1,197 |  |  | $ | (791) |  |  | $ | 406 |
Derivative liabilities |  |  |  |  |  |  |  |  |  |  |
Commodity contracts(a) |  |  |  |  |  |  |  |  |  |  |
Natural gas | $ | (410) |  |  | $ | 272 |  |  | $ | (138) |  |  | $ | (615) |  |  | $ | 429 |  |  | $ | (186) |
Electricity | (150) |  |  | 114 |  |  | (36) |  |  | (388) |  |  | 297 |  |  | (91) |
Environmental & Other | (44) |  |  | 44 |  |  | — |  |  | (150) |  |  | 137 |  |  | (13) |
Interest rate contracts | — |  |  | — |  |  | — |  |  | (16) |  |  | — |  |  | (16) |
Foreign currency exchange contracts | (1) |  |  | — |  |  | (1) |  |  | (3) |  |  | — |  |  | (3) |
Total derivative liabilities | $ | (605) |  |  | $ | 430 |  |  | $ | (175) |  |  | $ | (1,172) |  |  | $ | 863 |  |  | $ | (309) |
_______________________________________ (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.
Offsetting Liabilities | The following table presents net cash collateral offsetting arrangements for DTE Energy:
| December 31,
| 2024 |  | 2023
| (In millions)
Cash collateral netted against Derivative assets | $ | (17) |  |  | $ | — |
Cash collateral netted against Derivative liabilities | — |  |  | 72 |
Cash collateral recorded in Accounts receivable(a) | 29 |  |  | 57 |
Cash collateral recorded in Accounts payable(a) | (5) |  |  | (3) |
Total net cash collateral posted (received) | $ | 7 |  |  | $ | 126 |
_______________________________________ (a)Amounts are recorded net by counterparty. The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:
| December 31, 2024 |  | December 31, 2023
| Gross Amounts of Recognized Assets (Liabilities) |  | Gross Amounts Offset in the Consolidated Statements of Financial Position |  | Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position |  | Gross Amounts of Recognized Assets (Liabilities) |  | Gross Amounts Offset in the Consolidated Statements of Financial Position |  | Net Amounts of Assets (Liabilities) Presented in the Consolidated Statements of Financial Position
| (In millions)
Derivative assets |  |  |  |  |  |  |  |  |  |  |
Commodity contracts(a) |  |  |  |  |  |  |  |  |  |  |
Natural gas | $ | 428 |  |  | $ | (285) |  |  | $ | 143 |  |  | $ | 637 |  |  | $ | (416) |  |  | $ | 221 |
Electricity | 187 |  |  | (116) |  |  | 71 |  |  | 421 |  |  | (243) |  |  | 178 |
Environmental & Other | 58 |  |  | (46) |  |  | 12 |  |  | 139 |  |  | (132) |  |  | 7 |
Interest rate contracts | 20 |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | — |
Foreign currency exchange contracts | 1 |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |
Total derivative assets | $ | 694 |  |  | $ | (447) |  |  | $ | 247 |  |  | $ | 1,197 |  |  | $ | (791) |  |  | $ | 406 |
Derivative liabilities |  |  |  |  |  |  |  |  |  |  |
Commodity contracts(a) |  |  |  |  |  |  |  |  |  |  |
Natural gas | $ | (410) |  |  | $ | 272 |  |  | $ | (138) |  |  | $ | (615) |  |  | $ | 429 |  |  | $ | (186) |
Electricity | (150) |  |  | 114 |  |  | (36) |  |  | (388) |  |  | 297 |  |  | (91) |
Environmental & Other | (44) |  |  | 44 |  |  | — |  |  | (150) |  |  | 137 |  |  | (13) |
Interest rate contracts | — |  |  | — |  |  | — |  |  | (16) |  |  | — |  |  | (16) |
Foreign currency exchange contracts | (1) |  |  | — |  |  | (1) |  |  | (3) |  |  | — |  |  | (3) |
Total derivative liabilities | $ | (605) |  |  | $ | 430 |  |  | $ | (175) |  |  | $ | (1,172) |  |  | $ | 863 |  |  | $ | (309) |
_______________________________________ (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.
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:
| December 31, 2024 |  | December 31, 2023
| Derivative Assets |  | Derivative Liabilities |  | Derivative Assets |  | Derivative Liabilities
| Current |  | Noncurrent |  | Current |  | Noncurrent |  | Current |  | Noncurrent |  | Current |  | Noncurrent
| (In millions)
Total fair value of derivatives | $ | 488 |  |  | $ | 206 |  |  | $ | (441) |  |  | $ | (164) |  |  | $ | 910 |  |  | $ | 287 |  |  | $ | (847) |  |  | $ | (325) |
Counterparty netting | (323) |  |  | (107) |  |  | 323 |  |  | 107 |  |  | (613) |  |  | (178) |  |  | 613 |  |  | 178 |
Collateral adjustment | (3) |  |  | (14) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 57 |  |  | 15 |
Total derivatives as reported | $ | 162 |  |  | $ | 85 |  |  | $ | (118) |  |  | $ | (57) |  |  | $ | 297 |  |  | $ | 109 |  |  | $ | (177) |  |  | $ | (132) |
Gain (Loss) Recognized in Income on Derivatives | 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 Derivatives |  | Gain (Loss) Recognized in Income on Derivatives for Years Ended December 31,
|  |  | 2024 |  | 2023 |  | 2022
|  |  |  | (In millions)
Commodity contracts |  |  |  |  |  |  |  |
Natural gas |  | Operating Revenues — Non-utility operations |  | $ | (169) |  |  | $ | 153 |  |  | $ | (235) |
Natural gas |  | Fuel, purchased power, gas, and other — non-utility |  | 233 |  |  | 122 |  |  | (108) |
Electricity |  | Operating Revenues — Non-utility operations |  | 266 |  |  | 105 |  |  | 221 |
Environmental & Other |  | Operating Revenues — Non-utility operations |  | 14 |  |  | 5 |  |  | 13 |
Foreign currency exchange contracts |  | Operating Revenues — Non-utility operations |  | 3 |  |  | (2) |  |  | 3 |
Total |  |  |  | $ | 347 |  |  | $ | 383 |  |  | $ | (106) |
Volume of Commodity Contracts | The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of December 31, 2024:
Commodity |  | Number of Units
Natural gas (MMBtu) |  | 2,061,711,943 |
Electricity (MWh) |  | 39,109,082 |
Foreign currency exchange ($ CAD) |  | 74,608,748 |
FTR (MWh) |  | 65,874 |
Renewable Energy Certificates (MWh) |  | 10,569,260 |
Carbon emissions (Metric Ton) |  | 210,079 |
Interest rate contracts ($ USD) |  | 700,000,000 |

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