10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________________

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period ended September 30, 2019

Or

☐ TRANSITION REPORT PURSUANT TO SECTION 12 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 1-11607

DTE Energy Company

Michigan	38-3217752
(State or other jurisdiction of incorporation or organization)	(I.R.S Employer Identification No.)

Commission File Number: 1-2198

DTE Electric Company

Michigan	38-0478650
(State or other jurisdiction of incorporation or organization)	(I.R.S Employer Identification No.)

Registrants address of principal executive offices: One Energy Plaza, Detroit, Michigan 48226-1279

Registrants telephone number, including area code: (313) 235-4000

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Exchange on which Registered
Common stock, without par value	DTE	New York Stock Exchange
2012 Series C 5.25% Junior Subordinated Debentures due 2062	DTQ	New York Stock Exchange
2016 Series B 5.375% Junior Subordinated Debentures due 2076	DTJ	New York Stock Exchange
2016 Series F 6.00% Junior Subordinated Debentures due 2076	DTY	New York Stock Exchange
2017 Series E 5.25% Junior Subordinated Debentures due 2077	DTW	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

DTE Energy Company (DTE Energy) Yes ☒ No ☐ DTE Electric Company (DTE Electric) Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

DTE Energy Yes ☒ No ☐ DTE Electric Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

DTE Energy	Large accelerated filer	Accelerated filer	Non-accelerated filer	Smaller reporting company	Emerging growth company
	☒	☐	☐	☐	☐
DTE Electric	Large accelerated filer	Accelerated filer	Non-accelerated filer	Smaller reporting company	Emerging growth company
	☐	☐	☒	☐	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

DTE Energy Yes ☐ No ☒ DTE Electric Yes ☐ No ☒

Number of shares of Common Stock outstanding at September 30, 2019:

Registrant	Description	Shares
DTE Energy	Common Stock, without par value	183,396,510
DTE Electric	Common Stock, $10 par value, owned by DTE Energy	138,632,324

This combined Form 10-Q is filed separately by two registrants: DTE Energy and DTE Electric. Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf. DTE Electric makes no representation as to information relating exclusively to DTE Energy.

DTE Electric, an indirect wholly-owned subsidiary of DTE Energy, meets the conditions set forth in General Instructions H(1)(a) and (b) of Form 10-Q and is therefore filing this form with the reduced disclosure format specified in General Instructions H(2) of Form 10-Q.

TABLE OF CONTENTS

		Page
	Definitions	1
	Filing Format	3
	Forward-Looking Statements	3
PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements
	DTE Energy Consolidated Financial Statements (Unaudited)	5
	DTE Electric Consolidated Financial Statements (Unaudited)	13
	Combined Notes to Consolidated Financial Statements (Unaudited)	19
	Note 1 — Organization and Basis of Presentation	19
	Note 2 — Significant Accounting Policies	22
	Note 3 — New Accounting Pronouncements	24
	Note 4 — Acquisitions	26
	Note 5 — Revenue	27
	Note 6 — Regulatory Matters	29
	Note 7 — Earnings Per Share	30
	Note 8 — Fair Value	31
	Note 9 — Financial and Other Derivative Instruments	38
	Note 10 — Long-Term Debt	43
	Note 11 — Short-Term Credit Arrangements and Borrowings	43
	Note 12 — Leases	44
	Note 13 — Commitments and Contingencies	50
	Note 14 — Retirement Benefits and Trusteed Assets	55
	Note 15 — Segment and Related Information	57
	Note 16 — Subsequent Event	59
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	59
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	74
Item 4.	Controls and Procedures	77
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	78
Item 1A.	Risk Factors	78
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	78
Item 6.	Exhibits	79
	Signatures	80

DEFINITIONS

AFUDC	Allowance for Funds Used During Construction
AGS	Appalachia Gathering System is a midstream natural gas asset located in Pennsylvania and West Virginia. DTE Energy purchased 100% of AGS in October 2016, and this asset is part of DTE Energy's Gas Storage and Pipelines segment.
ASU	Accounting Standards Update issued by the FASB
CAD	Canadian Dollar (C$)
CCR	Coal Combustion Residuals
CFTC	U.S. Commodity Futures Trading Commission
DTE Electric	DTE Electric Company (an indirect wholly-owned subsidiary of DTE Energy) and subsidiary companies
DTE Energy	DTE Energy Company, directly or indirectly the parent of DTE Electric, DTE Gas, and numerous non-utility subsidiaries
DTE Gas	DTE Gas Company (an indirect wholly-owned subsidiary of DTE Energy) and subsidiary companies
EGLE	Michigan Department of Environment, Great Lakes, and Energy, formerly known as Michigan Department of Environmental Quality
EGU	Electric Generating Unit
ELG	Effluent Limitations Guidelines
EPA	U.S. Environmental Protection Agency
Equity units	DTE Energy's 2016 equity units issued in October 2016, which were used to finance the October 1, 2016 Gas Storage and Pipelines acquisition
FASB	Financial Accounting Standards Board
FERC	Federal Energy Regulatory Commission
FOV	Finding of Violation
FTRs	Financial Transmission Rights are financial instruments that entitle the holder to receive payments related to costs incurred for congestion on the transmission grid.
GCR	A Gas Cost Recovery mechanism authorized by the MPSC that allows DTE Gas to recover through rates its natural gas costs.
GHGs	Greenhouse gases
Green Bonds	A financing option to fund projects that have a positive environmental impact based upon a specified set of criteria. The proceeds are required to be used for eligible green expenditures.
MGP	Manufactured Gas Plant
MPSC	Michigan Public Service Commission
MTM	Mark-to-market
NAV	Net Asset Value
NEXUS	NEXUS Gas Transmission, LLC, a joint venture in which DTE Energy own a 50% partnership interest.
Non-utility	An entity that is not a public utility. Its conditions of service, prices of goods and services, and other operating related matters are not directly regulated by the MPSC.
NOV	Notice of Violation
NOX	Nitrogen Oxides
NRC	U.S. Nuclear Regulatory Commission

1

DEFINITIONS

PG&E	Pacific Gas and Electric Corporation
Production tax credits	Tax credits as authorized under Sections 45K and 45 of the Internal Revenue Code that are designed to stimulate investment in and development of alternate fuel sources. The amount of a production tax credit can vary each year as determined by the Internal Revenue Service.
PSCR	A Power Supply Cost Recovery mechanism authorized by the MPSC that allows DTE Electric to recover through rates its fuel, fuel-related, and purchased power costs.
RDM	A Revenue Decoupling Mechanism authorized by the MPSC that is designed to minimize the impact on revenues of changes in average customer usage.
REC	Renewable Energy Credit
REF	Reduced Emissions Fuel
Registrants	DTE Energy and DTE Electric
Retail access	Michigan legislation provided customers the option of access to alternative suppliers for electricity and natural gas.
RNG	Renewable Natural Gas
SEC	Securities and Exchange Commission
SGG	Stonewall Gas Gathering is a midstream natural gas asset located in West Virginia. DTE Energy purchased 55% of SGG in October 2016, and an additional 30% in May 2019, bringing its ownership to 85%. SGG is part of DTE Energy's Gas Storage and Pipelines segment.
SO2	Sulfur Dioxide
TCJA	Tax Cuts and Jobs Act of 2017
TCJA rate reduction liability	Due to the change in the corporate tax rate, from January 1, 2018 to June 30, 2018 for DTE Gas and from January 1, 2018 to July 31, 2018 for DTE Electric, the utilities reduced revenue and recorded an offsetting regulatory liability.
Topic 606	FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, as amended
Topic 840	FASB issued ASC 840, Leases
Topic 842	FASB issued ASU No. 2016-02, Leases, as amended, which replaced Topic 840
TRM	A Transitional Reconciliation Mechanism authorized by the MPSC that allows DTE Electric to recover through rates the deferred net incremental revenue requirement associated with the transition of City of Detroit's Public Lighting Department customers to DTE Electric's distribution system.
USD	United States Dollar ($)
VIE	Variable Interest Entity

Units of Measurement
Bcf	Billion cubic feet of natural gas
BTU	British thermal unit, heat value (energy content) of fuel
MMBtu	One million BTU
MWh	Megawatt-hour of electricity

2

FILING FORMAT

This combined Form 10-Q is separately filed by DTE Energy and DTE Electric. Information in this combined Form 10-Q relating to each individual Registrant is filed by such Registrant on its own behalf. DTE Electric makes no representation regarding information relating to any other companies affiliated with DTE Energy other than its own subsidiaries. Neither DTE Energy, nor any of DTE Energy’s other subsidiaries (other than DTE Electric), has any obligation in respect of DTE Electric's debt securities, and holders of such debt securities should not consider the financial resources or results of operations of DTE Energy nor any of DTE Energy’s other subsidiaries (other than DTE Electric and its own subsidiaries (in relevant circumstances)) in making a decision with respect to DTE Electric's debt securities. Similarly, none of DTE Electric nor any other subsidiary of DTE Energy has any obligation in respect to debt securities of DTE Energy. This combined Form 10-Q should be read in its entirety. No one section of this combined Form 10-Q deals with all aspects of the subject matter of this combined Form 10-Q. This combined Form 10-Q should be read in conjunction with the Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements and with Management's Discussion and Analysis included in the combined DTE Energy and DTE Electric 2018 Annual Report on Form 10-K.

FORWARD-LOOKING STATEMENTS

Certain information presented herein includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, and businesses of the Registrants. Words such as "anticipate," "believe," "expect," "may," "could," "projected," "aspiration," "plans," and "goals" signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to numerous assumptions, risks, and uncertainties that may cause actual future results to be materially different from those contemplated, projected, estimated, or budgeted. Many factors may impact forward-looking statements of the Registrants including, but not limited to, the following:

• impact of regulation by the EPA, the FERC, the MPSC, the NRC, and for DTE Energy, the CFTC, as well as other applicable governmental proceedings and regulations, including any associated impact on rate structures;

• the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals, or new legislation, including legislative amendments and retail access programs;

• economic conditions and population changes in the Registrants' geographic area resulting in changes in demand, customer conservation, and thefts of electricity and, for DTE Energy, natural gas;

• the operational failure of electric or gas distribution systems or infrastructure;

• impact of volatility of prices in the oil and gas markets on DTE Energy's gas storage and pipelines operations;

• impact of volatility in prices in the international steel markets on DTE Energy's power and industrial projects operations;

• the risk of a major safety incident;

• environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements;

• the cost of protecting assets against, or damage due to, cyber incidents and terrorism;

• health, safety, financial, environmental, and regulatory risks associated with ownership and operation of nuclear facilities;

• volatility in the short-term natural gas storage markets impacting third-party storage revenues related to DTE Energy;

• volatility in commodity markets, deviations in weather, and related risks impacting the results of DTE Energy's energy trading operations;

• changes in the cost and availability of coal and other raw materials, purchased power, and natural gas;

• advances in technology that produce power, store power, or reduce power consumption;

3

• changes in the financial condition of significant customers and strategic partners;

• the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions;

• access to capital markets and the results of other financing efforts which can be affected by credit agency ratings;

• instability in capital markets which could impact availability of short and long-term financing;

• the timing and extent of changes in interest rates;

• the level of borrowings;

• the potential for increased costs or delays in completion of significant capital projects;

• changes in, and application of, federal, state, and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings, and audits;

• the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers;

• unplanned outages;

• employee relations and the impact of collective bargaining agreements;

• the availability, cost, coverage, and terms of insurance and stability of insurance providers;

• cost reduction efforts and the maximization of plant and distribution system performance;

• the effects of competition;

• changes in and application of accounting standards and financial reporting regulations;

• changes in federal or state laws and their interpretation with respect to regulation, energy policy, and other business issues;

• contract disputes, binding arbitration, litigation, and related appeals; and

• the risks discussed in the Registrants' public filings with the Securities and Exchange Commission.

New factors emerge from time to time. The Registrants cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. The Registrants undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.

4

Part I — Financial Information

Item 1. Financial Statements

DTE Energy Company

Consolidated Statements of Operations (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions, except per share amounts)
Operating Revenues
Utility operations	$	1,656		$	1,669		$	4,937		$	4,923
Non-utility operations	1,463			1,881			4,584			5,539
	3,119			3,550			9,521			10,462
Operating Expenses
Fuel, purchased power, and gas — utility	400			453			1,342			1,440
Fuel, purchased power, and gas — non-utility	1,257			1,682			3,900			4,898
Operation and maintenance	588			604			1,739			1,721
Depreciation and amortization	322			273			923			826
Taxes other than income	101			99			311			307
Asset (gains) losses and impairments, net	1			10			14			8
	2,669			3,121			8,229			9,200
Operating Income	450			429			1,292			1,262
Other (Income) and Deductions
Interest expense	162			142			468			412
Interest income	(4		)	(3		)	(11		)	(9		)
Non-operating retirement benefits, net	9			9			28			27
Other income	(98		)	(99		)	(259		)	(262		)
Other expenses	17			11			40			51
	86			60			266			219
Income Before Income Taxes	364			369			1,026			1,043
Income Tax Expense	47			34			122			121
Net Income	317			335			904			922
Less: Net Income (Loss) Attributable to Noncontrolling Interests	(2		)	1			2			(7		)
Net Income Attributable to DTE Energy Company	$	319		$	334		$	902		$	929
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	1.74		$	1.84		$	4.93		$	5.13
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company	$	1.73		$	1.84		$	4.91		$	5.13
Weighted Average Common Shares Outstanding
Basic	183			182			183			181
Diluted	184			182			184			181

See Combined Notes to Consolidated Financial Statements (Unaudited)

5

DTE Energy Company

Consolidated Statements of Comprehensive Income (Unaudited)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2019			2018		2019			2018
	(In millions)
Net Income	$	317		$	335	$	904		$	922
Other comprehensive income (loss), net of tax:
Benefit obligations, net of taxes of $2, $—, $4 and $2, respectively	4			2		11			7
Net unrealized gains (losses) on derivatives during the period, net of taxes of $(1), $—, $(4), and $—, respectively	(4		)	1		(13		)	1
Foreign currency translation	—			—		1			(1		)
Other comprehensive income (loss)	—			3		(1		)	7
Comprehensive income	317			338		903			929
Less: Comprehensive income (loss) attributable to noncontrolling interests	(2		)	1		2			(7		)
Comprehensive Income Attributable to DTE Energy Company	$	319		$	337	$	901		$	936

See Combined Notes to Consolidated Financial Statements (Unaudited)

6

DTE Energy Company

Consolidated Statements of Financial Position (Unaudited)

	September 30,			December 31,
	2019			2018
	(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$	76		$	71
Restricted cash	—			5
Accounts receivable (less allowance for doubtful accounts of $93 and $91, respectively)
Customer	1,453			1,789
Other	264			108
Inventories
Fuel and gas	413			406
Materials and supplies	393			405
Derivative assets	75			102
Regulatory assets	22			153
Prepaid property tax	153			70
Other	136			151
	2,985			3,260
Investments
Nuclear decommissioning trust funds	1,577			1,378
Investments in equity method investees	1,839			1,771
Other	253			219
	3,669			3,368
Property
Property, plant, and equipment	33,473			31,810
Accumulated depreciation and amortization	(9,715		)	(10,160		)
	23,758			21,650
Other Assets
Goodwill	2,293			2,293
Regulatory assets	4,057			4,568
Intangible assets	940			849
Notes receivable	193			64
Derivative assets	36			31
Prepaid postretirement costs	74			45
Operating lease right-of-use assets	145			—
Other	195			160
	7,933			8,010
Total Assets	$	38,345		$	36,288

See Combined Notes to Consolidated Financial Statements (Unaudited)

7

DTE Energy Company

Consolidated Statements of Financial Position (Unaudited) — (Continued)

	September 30,			December 31,
	2019			2018
	(In millions, except shares)
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	1,033		$	1,329
Accrued interest	153			127
Dividends payable	173			172
Short-term borrowings	724			609
Current portion long-term debt, including finance leases	1,206			1,499
Derivative liabilities	68			67
Regulatory liabilities	55			126
Operating lease liabilities	34			—
Other	419			509
	3,865			4,438
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	12,708			10,982
Junior subordinated debentures	1,146			1,145
Finance lease liabilities	4			7
	13,858			12,134
Other Liabilities
Deferred income taxes	2,257			1,975
Regulatory liabilities	3,313			2,922
Asset retirement obligations	2,576			2,469
Unamortized investment tax credit	163			138
Derivative liabilities	74			89
Accrued pension liability	658			837
Nuclear decommissioning	235			205
Operating lease liabilities	105			—
Other	337			364
	9,718			8,999
Commitments and Contingencies (Notes 6 and 13)
Equity
Common stock (No par value, 400,000,000 shares authorized, and 183,396,510 and 181,925,281 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively)	4,370			4,245
Retained earnings	6,516			6,112
Accumulated other comprehensive loss	(146		)	(120		)
Total DTE Energy Company Equity	10,740			10,237
Noncontrolling interests	164			480
Total Equity	10,904			10,717
Total Liabilities and Equity	$	38,345		$	36,288

See Combined Notes to Consolidated Financial Statements (Unaudited)

8

DTE Energy Company

Consolidated Statements of Cash Flows (Unaudited)

	Nine Months Ended September 30,
	2019			2018
	(In millions)
Operating Activities
Net Income	$	904		$	922
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	923			826
Nuclear fuel amortization	45			39
Allowance for equity funds used during construction	(18		)	(20		)
Deferred income taxes	285			118
Equity earnings of equity method investees	(77		)	(99		)
Dividends from equity method investees	129			48
Asset (gains) losses and impairments, net	14			11
Changes in assets and liabilities:
Accounts receivable, net	188			85
Inventories	5			11
Prepaid postretirement benefit costs	(29		)	(45		)
Accounts payable	(291		)	9
Accrued pension liability	(179		)	(205		)
Accrued postretirement liability	—			(61		)
Derivative assets and liabilities	8			24
Regulatory assets and liabilities	203			283
Other current and noncurrent assets and liabilities	(209		)	101
Net cash from operating activities	1,901			2,047
Investing Activities
Plant and equipment expenditures — utility	(1,982		)	(1,562		)
Plant and equipment expenditures — non-utility	(177		)	(217		)
Acquisition, net of cash acquired	(174		)	—
Proceeds from sale of nuclear decommissioning trust fund assets	594			810
Investment in nuclear decommissioning trust funds	(599		)	(810		)
Distributions from equity method investees	9			8
Contributions to equity method investees	(128		)	(545		)
Notes receivable	(81		)	—
Other	(20		)	(20		)
Net cash used for investing activities	(2,558		)	(2,336		)
Financing Activities
Issuance of long-term debt, net of issuance costs	1,433			1,433
Redemption of long-term debt	—			(105		)
Short-term borrowings, net	115			(544		)
Issuance of common stock	—			7
Dividends paid on common stock	(518		)	(459		)
Contributions from noncontrolling interests, principally REF entities	23			43
Distributions to noncontrolling interests	(44		)	(31		)
Purchases of noncontrolling interest, principally SGG	(300		)	—
Other	(52		)	(40		)
Net cash from financing activities	657			304
Net Increase in Cash, Cash Equivalents, and Restricted Cash	—			15
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	76			89
Cash, Cash Equivalents, and Restricted Cash at End of Period	$	76		$	104
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	$	292		$	275

See Combined Notes to Consolidated Financial Statements (Unaudited)

9

DTE Energy Company

Consolidated Statements of Changes in Equity (Unaudited)

					Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests
	Common Stock
	Shares	Amount												Total
	(Dollars in millions, shares in thousands)
Balance, December 31, 2018	181,925	$	4,245		$	6,112		$	(120	)	$	480		$	10,717
Implementation of ASU 2018-02	—	—			25			(25		)	—			—
Net Income	—	—			401			—			7			408
Dividends declared on common stock ($0.945 per Common Share)	—	—			(173		)	—			—			(173		)
Contribution of common stock to pension plan	815	100			—			—			—			100
Other comprehensive income, net of tax	—	—			—			2			—			2
Stock-based compensation, net distributions to noncontrolling interests, and other	472	(21		)	(1		)	—			(12		)	(34		)
Balance, March 31, 2019	183,212	$	4,324		$	6,364		$	(143	)	$	475		$	11,020
Net Income (Loss)	—	—			182			—			(3		)	179
Dividends declared on common stock ($1.89 per Common Share)	—	—			(347		)	—			—			(347		)
Other comprehensive loss, net of tax	—	—			—			(3		)	—			(3		)
Purchase of noncontrolling interests, principally SGG	—	(3		)	—			—			(297		)	(300		)
Stock-based compensation, net distributions to noncontrolling interests, and other	90	23			(1		)	—			(2		)	20
Balance, June 30, 2019	183,302	$	4,344		$	6,198		$	(146	)	$	173		$	10,569
Net Income (Loss)	—	—			319			—			(2		)	317
Stock-based compensation, net distributions to noncontrolling interests, and other	95	26			(1		)	—			(7		)	18
Balance, September 30, 2019	183,397	$	4,370		$	6,516		$	(146	)	$	164		$	10,904

See Combined Notes to Consolidated Financial Statements (Unaudited)

10

DTE Energy Company

Consolidated Statements of Changes in Equity (Unaudited) — (Continued)

					Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests
	Common Stock
	Shares	Amount												Total
	(Dollars in millions, shares in thousands)
Balance, December 31, 2017	179,387	$	3,989		$	5,643		$	(120	)	$	478		$	9,990
Implementation of ASU 2016-01	—	—			5			(5		)	—			—
Net Income (Loss)	—	—			361			—			(10		)	351
Dividends declared on common stock ($0.88 per Common Share)	—	—			(160		)	—			—			(160		)
Contribution of common stock to pension plan	1,751	175			—			—			—			175
Other comprehensive income, net of tax	—	—			—			2			—			2
Stock-based compensation, net contributions from noncontrolling interests, and other	345	(1		)	(1		)	—			7			5
Balance, March 31, 2018	181,483	$	4,163		$	5,848		$	(123	)	$	475		$	10,363
Net Income (Loss)	—	—			234			—			2			236
Dividends declared on common stock ($1.77 per Common Share)	—	—			(321		)	—			—			(321		)
Issuance of common stock	160	16			—			—			—			16
Other comprehensive income, net of tax	—	—			—			2			—			2
Stock-based compensation, net distributions to noncontrolling interests, and other	130	26			(1		)	—			(3		)	22
Balance, June 30, 2018	181,773	$	4,205		$	5,760		$	(121	)	$	474		$	10,318
Net Income	—	—			334			—			1			335
Issuance of common stock	95	10			—			—			—			10
Other comprehensive income, net of tax	—	—			—			3			—			3
Stock-based compensation, net distributions to noncontrolling interests, and other	57	17			(1		)	—			8			24
Balance, September 30, 2018	181,925	$	4,232		$	6,093		$	(118	)	$	483		$	10,690

See Combined Notes to Consolidated Financial Statements (Unaudited)

11

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12

DTE Electric Company

Consolidated Statements of Operations (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Operating Revenues — Utility operations	$	1,519		$	1,521		$	3,944		$	4,002
Operating Expenses
Fuel and purchased power — utility	399			438			1,067			1,163
Operation and maintenance	356			360			1,048			1,025
Depreciation and amortization	244			202			694			616
Taxes other than income	80			77			233			232
Asset (gains) losses and impairments, net	—			—			13			—
	1,079			1,077			3,055			3,036
Operating Income	440			444			889			966
Other (Income) and Deductions
Interest expense	80			73			234			210
Interest income	—			—			(1		)	—
Non-operating retirement benefits, net	—			(1		)	—			(1		)
Other income	(20		)	(23		)	(78		)	(72		)
Other expenses	14			9			34			49
	74			58			189			186
Income Before Income Taxes	366			386			700			780
Income Tax Expense	59			81			113			172
Net Income	$	307		$	305		$	587		$	608

See Combined Notes to Consolidated Financial Statements (Unaudited)

13

DTE Electric Company

Consolidated Statements of Comprehensive Income (Unaudited)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Net Income	$	307	$	305	$	587	$	608
Other comprehensive income	—		—		—		—
Comprehensive Income	$	307	$	305	$	587	$	608

See Combined Notes to Consolidated Financial Statements (Unaudited)

14

DTE Electric Company

Consolidated Statements of Financial Position (Unaudited)

	September 30,			December 31,
	2019			2018
	(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$	26		$	18
Accounts receivable (less allowance for doubtful accounts of $48 and $53, respectively)
Customer	779			750
Affiliates	1			11
Other	62			54
Inventories
Fuel	180			171
Materials and supplies	284			279
Regulatory assets	22			148
Prepaid property tax	116			47
Other	35			42
	1,505			1,520
Investments
Nuclear decommissioning trust funds	1,577			1,378
Other	36			34
	1,613			1,412
Property
Property, plant, and equipment	23,917			22,747
Accumulated depreciation and amortization	(6,697		)	(7,310		)
	17,220			15,437
Other Assets
Regulatory assets	3,340			3,829
Intangible assets	21			21
Prepaid postretirement costs — affiliates	189			189
Operating lease right-of-use assets	64			—
Other	159			121
	3,773			4,160
Total Assets	$	24,111		$	22,529

See Combined Notes to Consolidated Financial Statements (Unaudited)

15

DTE Electric Company

Consolidated Statements of Financial Position (Unaudited) — (Continued)

	September 30,		December 31,
	2019		2018
	(In millions, except shares)
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Accounts payable
Affiliates	$	81	$	71
Other	403		441
Accrued interest	81		74
Current portion long-term debt, including finance leases	336		4
Regulatory liabilities	28		98
Short-term borrowings
Affiliates	97		101
Other	382		149
Operating lease liabilities	13		—
Other	154		139
	1,575		1,077
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	6,847		6,538
Finance lease liabilities	4		7
	6,851		6,545
Other Liabilities
Deferred income taxes	2,311		2,246
Regulatory liabilities	2,606		2,171
Asset retirement obligations	2,361		2,271
Unamortized investment tax credit	162		137
Nuclear decommissioning	235		205
Accrued pension liability — affiliates	611		718
Accrued postretirement liability — affiliates	262		278
Operating lease liabilities	45		—
Other	82		88
	8,675		8,114
Commitments and Contingencies (Notes 6 and 13)
Shareholder’s Equity
Common stock ($10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding for both periods)	4,631		4,631
Retained earnings	2,379		2,162
Total Shareholder’s Equity	7,010		6,793
Total Liabilities and Shareholder’s Equity	$	24,111	$	22,529

See Combined Notes to Consolidated Financial Statements (Unaudited)

16

DTE Electric Company

Consolidated Statements of Cash Flows (Unaudited)

	Nine Months Ended September 30,
	2019			2018
	(In millions)
Operating Activities
Net Income	$	587		$	608
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	694			616
Nuclear fuel amortization	45			39
Allowance for equity funds used during construction	(17		)	(14		)
Deferred income taxes	66			156
Asset (gains) losses and impairments, net	13			—
Changes in assets and liabilities:
Accounts receivable, net	(20		)	(89		)
Inventories	(14		)	43
Accounts payable	(15		)	18
Accrued pension liability — affiliates	(107		)	(185		)
Accrued postretirement liability — affiliates	(16		)	(71		)
Regulatory assets and liabilities	178			195
Other current and noncurrent assets and liabilities	(237		)	(71		)
Net cash from operating activities	1,157			1,245
Investing Activities
Plant and equipment expenditures	(1,611		)	(1,248		)
Proceeds from sale of nuclear decommissioning trust fund assets	594			810
Investment in nuclear decommissioning trust funds	(599		)	(810		)
Other	(19		)	(7		)
Net cash used for investing activities	(1,635		)	(1,255		)
Financing Activities
Issuance of long-term debt, net of issuance costs	643			520
Short-term borrowings, net — affiliate	(4		)	27
Short-term borrowings, net — other	233			(187		)
Dividends paid on common stock	(370		)	(346		)
Other	(16		)	(7		)
Net cash from financing activities	486			7
Net Increase (Decrease) in Cash and Cash Equivalents	8			(3		)
Cash and Cash Equivalents at Beginning of Period	18			15
Cash and Cash Equivalents at End of Period	$	26		$	12
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	$	168		$	152

See Combined Notes to Consolidated Financial Statements (Unaudited)

17

DTE Electric Company

Consolidated Statements of Changes in Shareholder's Equity (Unaudited)

				Additional Paid-in Capital		Retained Earnings
	Common Stock
	Shares	Amount							Total
	(Dollars in millions, shares in thousands)
Balance, December 31, 2018	138,632	$	1,386	$	3,245	$	2,162		$	6,793
Net Income	—	—		—		147			147
Dividends declared on common stock	—	—		—		(124		)	(124		)
Balance, March 31, 2019	138,632	1,386		3,245		2,185			6,816
Net Income	—	—		—		133			133
Dividends declared on common stock	—	—		—		(123		)	(123		)
Balance, June 30, 2019	138,632	$	1,386	$	3,245	$	2,195		$	6,826
Net Income	—	—		—		307			307
Dividends declared on common stock	—	—		—		(123		)	(123		)
Balance, September 30, 2019	138,632	$	1,386	$	3,245	$	2,379		$	7,010

				Additional Paid-in Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)
	Common Stock
	Shares	Amount										Total
	(Dollars in millions, shares in thousands)
Balance, December 31, 2017	138,632	$	1,386	$	2,920	$	1,956		$	3		$	6,265
Implementation of ASU 2016-01	—	—		—		3			(3		)	—
Net Income	—	—		—		140			—			140
Dividends declared on common stock	—	—		—		(115		)	—			(115		)
Balance, March 31, 2018	138,632	1,386		2,920		1,984			—			6,290
Net Income	—	—		—		163			—			163
Dividends declared on common stock	—	—		—		(115		)	—			(115		)
Balance, June 30, 2018	138,632	$	1,386	$	2,920	$	2,032		$	—		$	6,338
Net Income	—	—		—		305			—			305
Dividends declared on common stock	—	—		—		(116		)	—			(116		)
Balance, September 30, 2018	138,632	$	1,386	$	2,920	$	2,221		$	—		$	6,527

See Combined Notes to Consolidated Financial Statements (Unaudited)

18

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited)

Index of Combined Notes to Consolidated Financial Statements (Unaudited)

The Combined Notes to Consolidated Financial Statements (Unaudited) are a combined presentation for DTE Energy and DTE Electric. The following list indicates the Registrant(s) to which each note applies:

Note 1	Organization and Basis of Presentation	DTE Energy and DTE Electric
Note 2	Significant Accounting Policies	DTE Energy and DTE Electric
Note 3	New Accounting Pronouncements	DTE Energy and DTE Electric
Note 4	Acquisitions	DTE Energy
Note 5	Revenue	DTE Energy and DTE Electric
Note 6	Regulatory Matters	DTE Energy and DTE Electric
Note 7	Earnings per Share	DTE Energy
Note 8	Fair Value	DTE Energy and DTE Electric
Note 9	Financial and Other Derivative Instruments	DTE Energy and DTE Electric
Note 10	Long-Term Debt	DTE Energy and DTE Electric
Note 11	Short-Term Credit Arrangements and Borrowings	DTE Energy and DTE Electric
Note 12	Leases	DTE Energy and DTE Electric
Note 13	Commitments and Contingencies	DTE Energy and DTE Electric
Note 14	Retirement Benefits and Trusteed Assets	DTE Energy and DTE Electric
Note 15	Segment and Related Information	DTE Energy
Note 16	Subsequent Event	DTE Energy

NOTE 1 — ORGANIZATION AND BASIS OF PRESENTATION

Corporate Structure

DTE Energy owns the following businesses:

• DTE Electric is a public utility engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.2 million customers in southeastern Michigan;

• DTE Gas is a public utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million customers throughout Michigan and the sale of storage and transportation capacity; and

• Other businesses primarily involved in 1) services related to the gathering, transportation, and storage of natural gas; 2) power and industrial projects; and 3) energy marketing and trading operations.

DTE Electric and DTE Gas are regulated by the MPSC. Certain activities of DTE Electric and DTE Gas, as well as various other aspects of businesses under DTE Energy, are regulated by the FERC. In addition, the Registrants are regulated by other federal and state regulatory agencies including the NRC, the EPA, EGLE, and for DTE Energy, the CFTC.

Basis of Presentation

The Consolidated Financial Statements should be read in conjunction with the Combined Notes to Consolidated Financial Statements included in the combined DTE Energy and DTE Electric 2018 Annual Report on Form 10-K.

The accompanying Consolidated Financial Statements of the Registrants are prepared using accounting principles generally accepted in the United States of America. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from the Registrants' estimates.

19

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The Consolidated Financial Statements are unaudited but, in the Registrants' opinions, include all adjustments necessary to present a fair statement of the results for the interim periods. All adjustments are of a normal recurring nature, except as otherwise disclosed in these Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2019.

The information in these combined notes relates to each of the Registrants as noted in the Index of Combined Notes to Consolidated Financial Statements. However, DTE Electric does not make any representation as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.

Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation.

Principles of Consolidation

The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the cost method is used. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions.

The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.

Legal entities within DTE Energy's Power and Industrial Projects segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are generally accounted for under the equity method.

DTE Energy currently owns an 85% interest in SGG, which owns and operates midstream natural gas assets. SGG has contracts through which certain construction risk is designed to pass-through to the customers, with DTE Energy retaining operational and customer default risk. SGG is a VIE with DTE Energy as the primary beneficiary.

The Registrants have variable interests in NEXUS, which include DTE Energy's 50% ownership interest and DTE Electric's transportation services contract. NEXUS is a joint venture which owns a 256-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers. NEXUS also owns Generation Pipeline, LLC, a 23-mile regulated pipeline system located in northern Ohio, which was acquired in September 2019. Refer to Note 4, "Acquisitions," for additional information. NEXUS is a VIE as it has insufficient equity at risk to finance its activities. The Registrants are not the primary beneficiaries, as the power to direct significant activities is shared between the owners of the equity interests. DTE Energy accounts for its ownership interest in NEXUS under the equity method.

The Registrants hold ownership interests in certain limited partnerships. The limited partnerships include investment funds which support regional development and economic growth, as well as, an operational business providing energy-related products. These entities are generally VIEs as a result of certain characteristics of the limited partnership voting rights. The ownership interests are accounted for under the equity method as the Registrants are not the primary beneficiaries.

20

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

DTE Energy has variable interests in VIEs through certain of its long-term purchase and sale contracts. DTE Electric has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2019, the carrying amount of assets and liabilities in DTE Energy's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts are predominantly related to working capital accounts and generally represent the amounts owed by or to DTE Energy for the deliveries associated with the current billing cycle under the contracts. As of September 30, 2019, the carrying amount of assets and liabilities in DTE Electric's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominantly related to working capital accounts and generally represent the amounts owed by DTE Electric for the deliveries associated with the current billing cycle under the contracts. The Registrants have not provided any significant form of financial support associated with these long-term contracts. There is no significant potential exposure to loss as a result of DTE Energy's variable interests through these long-term purchase and sale contracts. In addition, there is no significant potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts.

The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position and, for DTE Energy, in Note 13 to the Consolidated Financial Statements, "Commitments and Contingencies," related to the REF guarantees and indemnities. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, future funding commitments, and amounts which DTE Energy has guaranteed. See Note 13 to the Consolidated Financial Statements, "Commitments and Contingencies," for further discussion of the NEXUS guarantee arrangements.

The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2019 and December 31, 2018. All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below.

Amounts for DTE Energy's consolidated VIEs are as follows:

	September 30, 2019						December 31, 2018
	SGG(a)		Other		Total		SGG(a)		Other		Total
	(In millions)
ASSETS
Cash and cash equivalents	$	20	$	12	$	32	$	25	$	14	$	39
Restricted cash	—		—		—		—		5		5
Accounts receivable	10		27		37		9		37		46
Inventories	—		97		97		1		92		93
Property, plant, and equipment, net	406		36		442		395		46		441
Goodwill	25		—		25		25		—		25
Intangible assets	546		—		546		557		—		557
Other current and long-term assets	1		—		1		3		—		3
	$	1,008	$	172	$	1,180	$	1,015	$	194	$	1,209
LIABILITIES
Accounts payable and accrued current liabilities	$	5	$	18	$	23	$	3	$	31	$	34
Other current and long-term liabilities	6		7		13		9		10		19
	$	11	$	25	$	36	$	12	$	41	$	53

_____________________________________

(a)Amounts shown are 100% of SGG's assets and liabilities, of which DTE Energy owns 85% at September 30, 2019 and 55% at December 31, 2018.

21

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Amounts for DTE Energy's non-consolidated VIEs are as follows:

	September 30, 2019		December 31, 2018
	(In millions)
Investments in equity method investees	$	1,487	$	1,425
Notes receivable	$	26	$	15
Future funding commitments	$	55	$	55

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

Other Income

The following is a summary of DTE Energy's Other income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Income from REF entities	$	40	$	27	$	96	$	75
Equity earnings of equity method investees	34		46		77		99
Gains from equity securities	3		5		27		6
Contract services	7		11		21		43
Allowance for equity funds used during construction	5		7		18		20
Other	9		3		20		19
	$	98	$	99	$	259	$	262

The following is a summary of DTE Electric's Other income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Gains from equity securities allocated from DTE Energy	$	3	$	5	$	27	$	6
Contract services	7		11		23		44
Allowance for equity funds used during construction	5		5		17		14
Other	5		2		11		8
	$	20	$	23	$	78	$	72

Changes in Accumulated Other Comprehensive Income (Loss)

Comprehensive income (loss) is the change in common shareholders' equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for DTE Energy include changes in benefit obligations, consisting of deferred actuarial losses and prior service costs, unrealized gains and losses from derivatives accounted for as cash flow hedges, DTE Energy's interest in other comprehensive income of equity investees which comprise the net unrealized gains and losses on investments, and foreign currency translation adjustments. DTE Energy releases income tax effects from accumulated other comprehensive income when the circumstances upon which they are premised cease to exist.

Changes in Accumulated other comprehensive income (loss) are presented in DTE Energy's Consolidated Statements of Changes in Equity and DTE Electric's Consolidated Statements of Changes in Shareholder's Equity. For further discussion regarding changes in Accumulated other comprehensive income (loss), see Note 3 to the Consolidated Financial Statements, "New Accounting Pronouncements." For the three and nine months ended September 30, 2019 and 2018, reclassifications out of Accumulated other comprehensive income (loss) not relating to the adoption of new accounting pronouncements for DTE Energy were not material.

22

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Income Taxes

The interim effective tax rates of the Registrants are as follows:

	Effective Tax Rate
	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
DTE Energy	13	%	9	%	12	%	12	%
DTE Electric	16	%	21	%	16	%	22	%

These tax rates are affected by estimated annual permanent items, including AFUDC equity, production tax credits, and other flow-through items, as well as discrete items that may occur in any given period, but are not consistent from period to period.

The 4% increase in DTE Energy's effective tax rate for the three months ended September 30, 2019 was primarily due to a decrease in annual production tax credits, partially offset by the amortization of the TCJA regulatory liability in 2019 and the $20 million valuation allowance for the AMT credit carryover in 2018. There was no change in DTE Energy's effective tax rate for the nine months ended September 30, 2019. This was primarily due to a decrease in annual production tax credits, offset by the amortization of the TCJA regulatory liability in 2019, true-up adjustments to the remeasurement of deferred taxes in 2018 of $21 million, and the $20 million valuation allowance for the AMT credit carryover in 2018.

The 5% and 6% decrease in DTE Electric's effective tax rate for the three and nine months ended September 30, 2019, respectively, was primarily due to the amortization of the TCJA regulatory liability of 4% and higher production tax credits of 1% in 2019. The additional 1% decrease for the nine months ended September 30, 2019 was due to the remeasurement of deferred taxes in 2018 of $7 million.

DTE Energy's total amount of unrecognized tax benefits as of September 30, 2019 was $8 million, which if recognized, would favorably impact its effective tax rate. DTE Electric's total amount of unrecognized tax benefits as of September 30, 2019 was $10 million, which if recognized, would favorably impact its effective tax rate. The Registrants do not anticipate any material changes to the unrecognized tax benefits in the next twelve months.

DTE Electric had income tax payables of $13 million with DTE Energy at September 30, 2019 and income tax receivables with DTE Energy of $8 million at December 31, 2018.

Unrecognized Compensation Costs

As of September 30, 2019, DTE Energy had $88 million of total unrecognized compensation cost related to non-vested stock incentive plan arrangements. That cost is expected to be recognized over a weighted-average period of 1.30 years.

Allocated Stock-Based Compensation

DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $9 million and $11 million for the three months ended September 30, 2019 and 2018, respectively, while such allocation was $33 million and $27 million for the nine months ended September 30, 2019 and 2018, respectively.

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash consists of funds held to satisfy requirements of certain debt and DTE Energy partnership operating agreements. Restricted cash designated for interest and principal payments within one year is classified as a Current Asset.

23

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Intangible Assets

The Registrants have certain Intangible assets as shown below:

		September 30, 2019							December 31, 2018
	Useful Lives	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
		(In millions)
Intangible assets subject to amortization
Customer relationships	25 to 40 years(a)	$	779	$	(58	)	$	721	$	779	$	(44	)	$	735
Contract intangibles	6 to 26 years	270		(72		)	198		159		(66		)	93
		1,049		(130		)	919		938		(110		)	828
DTE Electric renewable energy credits	(b)	20		—			20		20		—			20
DTE Electric emission allowances	(b)	1		—			1		1		—			1
		21		—			21		21		—			21
Long-term intangible assets
DTE Electric		$	21	$	—		$	21	$	21	$	—		$	21
DTE Energy		$	1,070	$	(130	)	$	940	$	959	$	(110	)	$	849

______________________________________

(a) The useful lives of the customer relationship intangible assets are based on the number of years in which the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts and expected renewal rates based on the estimated volume and production lives of gas resources in the region.

(b) Emission allowances and renewable energy credits are charged to expense, using average cost, as the allowances and credits are consumed in the operation of the business.

The following table summarizes DTE Energy's estimated customer relationship and contract intangible amortization expense expected to be recognized during each year through 2024:

	Remaining
	2019		2020		2021		2022		2023		2024
	(In millions)
Estimated amortization expense	$	9	$	35	$	34	$	34	$	34	$	34

DTE Energy amortizes customer relationship and contract intangible assets on a straight-line basis over the expected period of benefit. DTE Energy's Intangible assets amortization expense was $7 million for the three months ended September 30, 2019 and 2018, while amortization expense was $21 million and $20 million for the nine months ended September 30, 2019 and 2018, respectively.

NOTE 3 — NEW ACCOUNTING PRONOUNCEMENTS

Recently Adopted Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), as amended. This guidance requires a lessee to account for leases as finance or operating leases and disclose key information about leasing arrangements. Both types of leases will result in the lessee recognizing a right-of-use asset and a corresponding lease liability on its balance sheet, with differing methodology for income statement recognition, depending on the lease classification. The Registrants adopted the standard on January 1, 2019 using the prospective approach. The standard provides a number of transition practical expedients of which the Registrants elected the package of three expedients that must be taken together, allowing entities to not reassess whether an agreement is a lease, to carryforward the existing lease classification, and to not reassess initial direct costs associated with existing leases; but did not elect to apply hindsight in determining lease term and impairment of the right-of-use assets. The Registrants also elected to not evaluate land easements under the new guidance at adoption if they were not previously accounted for as leases. These practical expedients apply to leases that commenced prior to January 1, 2019.

24

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

At adoption of the new standard, the Registrants recognized on the Consolidated Statements of Financial Position, right-of-use assets and lease liabilities for certain operating leases of approximately $137 million and $130 million, respectively, for DTE Energy and approximately $74 million and $67 million, respectively, for DTE Electric as of January 1, 2019. The right-of-use lease assets include $9 million of prepaid lease costs that have been reclassified from Other assets, current and noncurrent, and $2 million of deferred lease costs that have been reclassified from Other liabilities, current and noncurrent, for the Registrants. The adoption of the ASU did not have a significant impact on the Registrants' Consolidated Statements of Operations but required additional disclosures for leases. See Note 12 to the Consolidated Financial Statements, "Leases."

In February 2018, the FASB issued ASU No. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings from stranded tax effects resulting from the TCJA. The amendments in this update also require entities to disclose their accounting policy for releasing income tax effects from accumulated other comprehensive income. The Registrants adopted the standard effective January 1, 2019. Upon adoption, DTE Energy reclassified $25 million of income tax effects from Accumulated other comprehensive income (loss) to Retained Earnings.

Recently Issued Pronouncements

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended. The amendments in this update replace the incurred loss impairment methodology in current generally accepted accounting principles with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasts, to develop credit loss estimates. The ASU requires entities to use the new methodology to measure impairment of financial instruments, including accounts receivable, and may result in earlier recognition of credit losses than under current generally accepted accounting principles. Entities will apply the new guidance as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The ASU is effective for the Registrants beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for the Registrants for fiscal years ending after December 15, 2020. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The ASU may be applied using either a retrospective or prospective approach. The Registrants are currently evaluating the transition methods and assessing the impact of this standard on their Consolidated Financial Statements.

In October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities. The amendments in this update modify the requirements for determining whether a decision-making fee is a variable interest and require reporting entities to consider indirect interests held through related parties under common control on a proportional basis. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

25

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 4 — ACQUISITIONS

Electric Segment Acquisition

Effective September 12, 2019, DTE Energy closed on the purchase of an 89 MW renewable energy project located in Michigan from Heritage Sustainable Energy in support of renewable energy goals. Direct transaction costs primarily related to advisory fees were immaterial and are included in Operation and maintenance in DTE Energy's Consolidated Statements of Operations. The consideration paid for the entity acquired was approximately $174 million in cash.

The acquisition was accounted for using the acquisition method of accounting for business combinations. Accordingly, the cost was allocated to the underlying net assets based on their respective fair values as shown below:

	(In millions)
Contract intangibles	$	111
Property, plant, and equipment, net	59
Working capital	4
Total	$	174

The intangible assets recorded pertain to existing customer contracts and were estimated by applying the income approach, based on discounted projected cash flows attributable to the existing agreements. The contract intangible assets are amortized on a straight line basis with useful lives ranging from 11 years to 14 years, which is based on the remaining number of years the assets are expected to economically contribute to the business. The pro forma financial information has not been presented for DTE Energy because the effects of the acquisition were not material to the Consolidated Statements of Operations.

Concurrent with the above acquisition, DTE Energy entered into a separate purchase and sale agreement with Heritage Sustainable Energy to acquire an additional renewable energy project for approximately $30 million. This transaction is expected to close in early January 2020.

Gas Storage and Pipelines Segment Acquisition

Effective September 20, 2019, NEXUS closed on the purchase of Generation Pipeline, LLC, a pipeline system regulated by the Public Utilities Commission of Ohio. The 23-mile pipeline system supplies gas to industrial customers in the Toledo, OH area, has existing interconnects with ANR Pipeline Company and Panhandle Eastern Pipeline Company, and is located four miles from NEXUS. Total consideration paid for the acquired entity was approximately $163 million, of which DTE Energy's portion was 50%. DTE Energy accounts for its ownership interest in NEXUS under the equity method, which will now include equity in earnings related to Generation Pipeline, LLC.

26

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 5 — REVENUE

Disaggregation of Revenue

The following is a summary of revenues disaggregated by segment for DTE Energy:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Electric(a)
Residential	$	791	$	773	$	1,839	$	1,943
Commercial	515		495		1,358		1,370
Industrial	175		173		497		527
Other(b)	39		80		251		162
Total Electric operating revenues(c)	$	1,520	$	1,521	$	3,945	$	4,002
Gas
Gas sales	$	87	$	89	$	727	$	726
End User Transportation	35		34		157		168
Intermediate Transportation	15		9		57		38
Other(b)	18		32		102		37
Total Gas operating revenues(d)	$	155	$	164	$	1,043	$	969
Other segment operating revenues
Gas Storage and Pipelines(e)	$	126	$	122	$	363	$	363
Power and Industrial Projects(f)	$	406	$	612	$	1,196	$	1,717
Energy Trading(g)	$	1,105	$	1,332	$	3,519	$	3,994

_______________________________________

(a) Revenues under the Electric segment generally represent those of DTE Electric.

(b) Includes revenue adjustments related to various regulatory mechanisms.

(c) Includes $5 million and $6 million of other revenues outside the scope of Topic 606 for the three months ended September 30, 2019 and 2018, respectively, and $14 million and $15 million for the nine months ended September 30, 2019 and 2018, respectively.

(d) Includes $4 million under Alternative Revenue Programs for the nine months ended September 30, 2018. Also includes $2 million of other revenues for the three months ended September 30, 2019 and 2018 and $6 million for the nine months ended September 30, 2019 and 2018, which are both outside the scope of Topic 606.

(e) Includes revenues outside the scope of Topic 606 primarily related to $2 million and $7 million of contracts accounted for as leases for the three and nine months ended September 30, 2019, respectively.

(f) Includes revenues outside the scope of Topic 606 primarily related to $33 million and $37 million of contracts accounted for as leases for the three months ended September 30, 2019 and 2018, respectively, and $94 million and $93 million for the nine months ended September 30, 2019 and 2018, respectively.

(g) Includes revenues outside the scope of Topic 606 primarily related to $791 million and $1.1 billion of derivatives for the three months ended September 30, 2019 and 2018, respectively, and $2.6 billion and $3.2 billion of derivatives for the nine months ended September 30, 2019 and 2018, respectively.

Deferred Revenue

The following is a summary of deferred revenue activity:

	DTE Energy
	(In millions)
Beginning Balance, January 1, 2019	$	74
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	41
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(50		)
Ending Balance, September 30, 2019	$	65

The deferred revenues at DTE Energy generally represent amounts paid by or receivable from customers for which the associated performance obligation has not yet been satisfied.

27

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Deferred revenues include amounts associated with REC performance obligations under certain wholesale full requirements power contracts. Deferred revenues associated with RECs are recognized as revenue when control of the RECs has transferred.

Other performance obligations associated with deferred revenues include providing products and services related to customer prepayments. Deferred revenues associated with these products and services are recognized when control has transferred to the customer.

The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:

	DTE Energy
	(In millions)
2019	$	9
2020	25
2021	6
2022	7
2023	6
2024 and thereafter	12
	$	65

Transaction Price Allocated to the Remaining Performance Obligations

In accordance with optional exemptions available under Topic 606, the Registrants did not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Registrants have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation.

Such contracts consist of varying types of performance obligations across the segments, including the supply and delivery of energy related products and services. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Contract lengths vary from cancelable to multi-year.

The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:

	DTE Energy		DTE Electric
	(In millions)
2019	$	52	$	3
2020	290		—
2021	269		—
2022	206		—
2023	142		—
2024 and thereafter	648		—
	$	1,607	$	3

28

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Other Matters

The following table represents expenses recognized for estimated uncollectible accounts receivable:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
DTE Energy	$	28	$	39	$	81	$	95
DTE Electric	$	17	$	26	$	47	$	57

NOTE 6 — REGULATORY MATTERS

2018 Electric Rate Case Filing

DTE Electric filed a rate case with the MPSC on July 6, 2018 requesting an increase in base rates of $328 million based on a projected twelve-month period ending April 30, 2020. The requested increase in base rates was primarily due to an increase in net plant resulting from infrastructure investments, depreciation expense, as requested in the 2016 DTE Electric Depreciation Case Filing, and reliability improvement projects. The rate filing also requested an increase in return on equity from 10.0% to 10.5% and included projected changes in sales, operation and maintenance expenses, and working capital. In addition, the rate filing requested an Infrastructure Recovery Mechanism to recover the incremental revenue requirement associated with certain distribution, fossil generation, and nuclear generation capital expenditures through 2022. Finally, as noted in the 2017 Tax Reform section below, DTE Electric proposed an amortization schedule for Calculation C in this filing. On February 1, 2019, DTE Electric reduced its initial requested increase in base rates to $248.6 million, primarily reflecting the reduction in requested depreciation expense resulting from the MPSC's approval of new depreciation rates. On May 2, 2019, the MPSC issued an order approving an annual revenue increase of $125 million for services rendered on or after May 9, 2019. The MPSC authorized a return on equity of 10.0%. In addition, the order approved the proposed amortization schedule for Calculation C but denied the requested Infrastructure Recovery Mechanism.

2019 Electric Rate Case Filing

DTE Electric filed a rate case with the MPSC on July 8, 2019 requesting an increase in base rates of $351 million based on a projected twelve-month period ending April 30, 2021. The requested increase in base rates is primarily due to an increase in net plant resulting from infrastructure and generation investments. The rate filing also requests an increase in return on equity from 10.0% to 10.5% and includes projected changes in sales and operating and maintenance expenses. A final MPSC order in this case is expected by May 2020.

2016 DTE Electric Depreciation Case Filing

DTE Electric filed a depreciation case with the MPSC on November 1, 2016 requesting an increase in depreciation rates for plant in service balances as of December 31, 2015. The MPSC issued an order on December 6, 2018 authorizing DTE Electric to increase its composite depreciation rate from 3.06% to 3.72%. The new rates are effective for service rendered on or after May 9, 2019, per the final order in DTE Electric's 2018 rate case issued on May 2, 2019.

2017 Tax Reform

On December 27, 2017, the MPSC issued an order to consider changes in the rates of all Michigan rate-regulated utilities to reflect the effects of the federal TCJA. On January 19, 2018, DTE Electric and DTE Gas filed information with the MPSC regarding the potential change in revenue requirements due to the TCJA effective January 1, 2018 and outlined their recommended method to flow the current and deferred tax benefits of those impacts to ratepayers.

29

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

On February 22, 2018, the MPSC issued an order in this case requiring utilities, including DTE Electric and DTE Gas, to follow a 3-step approach of credits and calculations. In 2018, MPSC orders for the first two steps, Credit A and Credit B, were issued for DTE Electric and DTE Gas. The third step is to perform Calculation C to address all remaining issues relative to the new tax law, which is primarily the remeasurement of deferred taxes and how the amounts deferred as Regulatory liabilities will flow to ratepayers. DTE Gas filed its Calculation C case on November 16, 2018 to reduce the annual revenue requirement by $12 million related to the amortization of deferred tax remeasurement. On August 20, 2019, the MPSC issued an order in this case approving a $13 million reduction to DTE Gas' annual revenue requirement. This reduction in revenue will be offset by a corresponding reduction in income tax expense within the Consolidated Statements of Operations. DTE Electric proposed an amortization schedule for Calculation C in its general rate case filed July 6, 2018, which was approved by the MPSC in the May 2, 2019 rate order.

NOTE 7 — EARNINGS PER SHARE

Basic earnings per share is calculated by dividing the net income, adjusted for income allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares. DTE Energy’s participating securities are restricted shares under the stock incentive program that contain rights to receive non-forfeitable dividends. Equity units, performance shares, and stock options do not receive cash dividends; as such, these awards are not considered participating securities.

The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company	$	319	$	334	$	902	$	929
Less: Allocation of earnings to net restricted stock awards	1		1		2		2
Net income available to common shareholders — basic	$	318	$	333	$	900	$	927
Average number of common shares outstanding — basic	183		182		183		181
Basic Earnings per Common Share	$	1.74	$	1.84	$	4.93	$	5.13
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company	$	319	$	334	$	902	$	929
Less: Allocation of earnings to net restricted stock awards	1		1		2		2
Net income available to common shareholders — diluted	$	318	$	333	$	900	$	927
Average number of common shares outstanding — basic	183		182		183		181
Incremental shares attributable to:
Average dilutive equity units, performance share awards, and stock options	1		—		1		—
Average number of common shares outstanding — diluted	184		182		184		181
Diluted Earnings per Common Share(a)	$	1.73	$	1.84	$	4.91	$	5.13

_______________________________________

(a) The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6.2 million for the three months ended September 30, 2018 and 6.4 million for the nine months ended September 30, 2018 as the dilutive stock price threshold was not met.

On October 1, 2019, DTE Energy issued approximately 5.87 million shares of common stock under the stock purchase contracts associated with DTE Energy's 2016 Series C Equity Units for $675 million. Refer to Note 10 to the Consolidated Financial Statements, "Long-Term Debt" for additional information.

30

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 8 — FAIR VALUE

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Registrants make certain assumptions they believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. Credit risk of the Registrants and their counterparties is incorporated in the valuation of assets and liabilities through the use of credit reserves, the impact of which was immaterial at September 30, 2019 and December 31, 2018. The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs.

A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows:

• Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date.

• Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.

• Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints.

31

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis^(a):

	September 30, 2019																	December 31, 2018
	Level 1			Level 2			Level 3			Other(b)		Netting(c)			Net Balance			Level 1			Level 2			Level 3			Other(b)		Netting(c)			Net Balance
	(In millions)
Assets
Cash equivalents(d)	$	21		$	—		$	—		$	—	$	—		$	21		$	16		$	2		$	—		$	—	$	—		$	18
Nuclear decommissioning trusts
Equity securities	990			—			—			—		—			990			851			—			—			—		—			851
Fixed income securities	9			535			—			—		—			544			12			490			—			—		—			502
Private equity and other	—			—			—			34		—			34			—			—			—			20		—			20
Cash equivalents	9			—			—			—		—			9			5			—			—			—		—			5
Other investments(e)
Equity securities	130			—			—			—		—			130			110			—			—			—		—			110
Fixed income securities	78			—			—			—		—			78			69			—			—			—		—			69
Cash equivalents	4			—			—			—		—			4			4			—			—			—		—			4
Derivative assets
Commodity contracts
Natural gas	109			90			54			—		(189		)	64			199			87			63			—		(277		)	72
Electricity	—			128			36			—		(124		)	40			—			247			56			—		(252		)	51
Other	5			—			5			—		(5		)	5			—			—			7			—		(1		)	6
Foreign currency exchange contracts	—			2			—			—		—			2			—			4			—			—		—			4
Total derivative assets	114			220			95			—		(318		)	111			199			338			126			—		(530		)	133
Total	$	1,355		$	755		$	95		$	34	$	(318	)	$	1,921		$	1,266		$	830		$	126		$	20	$	(530	)	$	1,712
Liabilities
Derivative liabilities
Commodity contracts
Natural gas	$	(130	)	$	(72	)	$	(95	)	$	—	$	189		$	(108	)	$	(197	)	$	(71	)	$	(112	)	$	—	$	272		$	(108	)
Electricity	—			(127		)	(28		)	—		124			(31		)	—			(227		)	(58		)	—		240			(45		)
Other	(7		)	(1		)	—			—		5			(3		)	—			(1		)	—			—		1			—
Interest rate contracts	—			—			—			—		—			—			—			(3		)	—			—		—			(3		)
Total derivative liabilities	(137		)	(200		)	(123		)	—		318			(142		)	(197		)	(302		)	(170		)	—		513			(156		)
Total	$	(137	)	$	(200	)	$	(123	)	$	—	$	318		$	(142	)	$	(197	)	$	(302	)	$	(170	)	$	—	$	513		$	(156	)
Net Assets (Liabilities) at end of period	$	1,218		$	555		$	(28	)	$	34	$	—		$	1,779		$	1,069		$	528		$	(44	)	$	20	$	(17	)	$	1,556
Assets
Current	$	130		$	175		$	62		$	—	$	(271	)	$	96		$	212		$	273		$	96		$	—	$	(461	)	$	120
Noncurrent	1,225			580			33			34		(47		)	1,825			1,054			557			30			20		(69		)	1,592
Total Assets	$	1,355		$	755		$	95		$	34	$	(318	)	$	1,921		$	1,266		$	830		$	126		$	20	$	(530	)	$	1,712
Liabilities
Current	$	(123	)	$	(163	)	$	(53	)	$	—	$	271		$	(68	)	$	(191	)	$	(251	)	$	(76	)	$	—	$	451		$	(67	)
Noncurrent	(14		)	(37		)	(70		)	—		47			(74		)	(6		)	(51		)	(94		)	—		62			(89		)
Total Liabilities	$	(137	)	$	(200	)	$	(123	)	$	—	$	318		$	(142	)	$	(197	)	$	(302	)	$	(170	)	$	—	$	513		$	(156	)
Net Assets (Liabilities) at end of period	$	1,218		$	555		$	(28	)	$	34	$	—		$	1,779		$	1,069		$	528		$	(44	)	$	20	$	(17	)	$	1,556

_______________________________________

(a) See footnotes on following page.

32

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

_______________________________________

(b) Amounts represent assets valued at NAV as a practical expedient for fair value.

(c) Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.

(d) At September 30, 2019, the $21 million consisted of $10 million and $11 million of cash equivalents included in Cash and cash equivalents and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2018, the $18 million consisted of $3 million, $5 million and $10 million of cash equivalents included in Cash and cash equivalents, Restricted cash, and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively.

(e) Excludes cash surrender value of life insurance investments.

The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of:

	September 30, 2019										December 31, 2018
	Level 1		Level 2		Level 3		Other(a)		Net Balance		Level 1		Level 2		Level 3		Other(a)		Net Balance
	(In millions)
Assets
Cash equivalents(b)	$	11	$	—	$	—	$	—	$	11	$	8	$	2	$	—	$	—	$	10
Nuclear decommissioning trusts
Equity securities	990		—		—		—		990		851		—		—		—		851
Fixed income securities	9		535		—		—		544		12		490		—		—		502
Private equity and other	—		—		—		34		34		—		—		—		20		20
Cash equivalents	9		—		—		—		9		5		—		—		—		5
Other investments
Equity securities	12		—		—		—		12		10		—		—		—		10
Derivative assets — FTRs	—		—		5		—		5		—		—		6		—		6
Total	$	1,031	$	535	$	5	$	34	$	1,605	$	886	$	492	$	6	$	20	$	1,404
Assets
Current	$	11	$	—	$	5	$	—	$	16	$	8	$	2	$	6	$	—	$	16
Noncurrent	1,020		535		—		34		1,589		878		490		—		20		1,388
Total Assets	$	1,031	$	535	$	5	$	34	$	1,605	$	886	$	492	$	6	$	20	$	1,404

_______________________________________

(a) Amounts represent assets valued at NAV as a practical expedient for fair value.

(b) At September 30, 2019, the $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2018, the $10 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position.

Cash Equivalents

Cash equivalents include investments with maturities of three months or less when purchased. The cash equivalents shown in the fair value table are comprised of short-term investments and money market funds.

Nuclear Decommissioning Trusts and Other Investments

The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. Commingled funds that hold exchange-traded equity or debt securities are valued based on stated NAVs. Non-exchange-traded fixed income securities are valued based upon quotations available from brokers or pricing services. Other assets such as private equity investments are classified as NAV assets. A primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary price source of a given security if the trustee determines that another price source is considered preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.

33

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Derivative Assets and Liabilities

Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy.

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy:

	Three Months Ended September 30, 2019												Three Months Ended September 30, 2018
	Natural Gas			Electricity			Other			Total			Natural Gas			Electricity			Other			Total
	(In millions)
Net Assets (Liabilities) as of June 30	$	(10	)	$	10		$	9		$	9		$	(25	)	$	(13	)	$	15		$	(23	)
Transfers into Level 3 from Level 2	—			—			—			—			—			—			—			—
Transfers from Level 3 into Level 2	—			—			—			—			—			—			—			—
Total gains (losses)
Included in earnings	(35		)	37			—			2			(30		)	21			—			(9		)
Recorded in Regulatory liabilities	—			—			(3		)	(3		)	—			—			(8		)	(8		)
Purchases, issuances, and settlements
Settlements	4			(39		)	(1		)	(36		)	9			(18		)	(1		)	(10		)
Net Assets (Liabilities) as of September 30	$	(41	)	$	8		$	5		$	(28	)	$	(46	)	$	(10	)	$	6		$	(50	)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	$	(36	)	$	15		$	(1	)	$	(22	)	$	(31	)	$	10		$	(1	)	$	(22	)

34

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

	Nine Months Ended September 30, 2019												Nine Months Ended September 30, 2018
	Natural Gas			Electricity			Other			Total			Natural Gas			Electricity			Other			Total
	(In millions)
Net Assets (Liabilities) as of December 31	$	(49	)	$	(2	)	$	7		$	(44	)	$	(29	)	$	12		$	8		$	(9	)
Transfers into Level 3 from Level 2	—			—			—			—			—			—			—			—
Transfers from Level 3 into Level 2	—			—			—			—			(3		)	—			—			(3		)
Total gains (losses)
Included in earnings	(4		)	47			(1		)	42			(128		)	25			1			(102		)
Recorded in Regulatory liabilities	—			—			3			3			—			—			6			6
Purchases, issuances, and settlements
Settlements	12			(37		)	(4		)	(29		)	114			(47		)	(9		)	58
Net Assets (Liabilities) as of September 30	$	(41	)	$	8		$	5		$	(28	)	$	(46	)	$	(10	)	$	6		$	(50	)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	$	(20	)	$	32		$	(6	)	$	6		$	(109	)	$	4		$	(3	)	$	(108	)

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net Assets as of beginning of period	$	9		$	15		$	6		$	9
Change in fair value recorded in Regulatory liabilities	(3		)	(8		)	3			6
Purchases, issuances, and settlements
Settlements	(1		)	(1		)	(4		)	(9		)
Net Assets as of September 30	$	5		$	6		$	5		$	6
The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets held at September 30, 2019 and 2018 and reflected in DTE Electric's Consolidated Statements of Financial Position	$	(1	)	$	(2	)	$	5		$	6

Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period.

There were no transfers between Levels 1 and 2 for the Registrants during the three and nine months ended September 30, 2019 and 2018, and there were no transfers from or into Level 3 for DTE Electric during the same periods.

The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:

	September 30, 2019
Commodity Contracts	Derivative Assets		Derivative Liabilities			Valuation Techniques	Unobservable Input	Range							Weighted Average
	(In millions)
Natural Gas	$	54	$	(95	)	Discounted Cash Flow	Forward basis price (per MMBtu)	$	(1.55	)	—	$	6.17	/MMBtu	$	(0.09	)/MMBtu
Electricity	$	36	$	(28	)	Discounted Cash Flow	Forward basis price (per MWh)	$	(13	)	—	$	7	/MWh	$	—

35

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

	December 31, 2018
Commodity Contracts	Derivative Assets		Derivative Liabilities			Valuation Techniques	Unobservable Input	Range							Weighted Average
	(In millions)
Natural Gas	$	63	$	(112	)	Discounted Cash Flow	Forward basis price (per MMBtu)	$	(2.15	)	—	$	5.59	/MMBtu	$	(0.10	)/MMBtu
Electricity	$	56	$	(58	)	Discounted Cash Flow	Forward basis price (per MWh)	$	(7	)	—	$	9	/MWh	$	1	/MWh

The unobservable inputs used in the fair value measurement of the electricity and natural gas commodity types consist of inputs that are less observable due in part to lack of available broker quotes, supported by little, if any, market activity at the measurement date or are based on internally developed models. Certain basis prices (i.e., the difference in pricing between two locations) included in the valuation of natural gas and electricity contracts were deemed unobservable.

The inputs listed above would have a direct impact on the fair values of the above security types if they were adjusted. A significant increase (decrease) in the basis price would result in a higher (lower) fair value for long positions, with offsetting impacts to short positions.

Fair Value of Financial Instruments

The following table presents the carrying amount and fair value of financial instruments for DTE Energy:

	September 30, 2019								December 31, 2018
	Carrying		Fair Value						Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Amount		Level 1		Level 2		Level 3
	(In millions)
Notes receivable(a), excluding lessor finance leases	$	178	$	—	$	—	$	178	$	40	$	—	$	—	$	40
Dividends payable	$	173	$	173	$	—	$	—	$	172	$	172	$	—	$	—
Short-term borrowings	$	724	$	—	$	724	$	—	$	609	$	—	$	609	$	—
Notes payable — Other(b), excluding lessee finance leases	$	27	$	—	$	—	$	27	$	41	$	—	$	—	$	41
Long-term debt(c)	$	15,056	$	1,277	$	14,216	$	1,138	$	13,622	$	1,796	$	10,712	$	1,317

_______________________________________

(a) Current portion included in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.

(b) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.

(c) Includes debt due within one year, unamortized debt discounts, and issuance costs. Excludes finance lease obligations.

The following table presents the carrying amount and fair value of financial instruments for DTE Electric:

	September 30, 2019								December 31, 2018
	Carrying		Fair Value						Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Amount		Level 1		Level 2		Level 3
	(In millions)
Notes receivable — Other(a), excluding lessor finance leases	$	14	$	—	$	—	$	14	$	6	$	—	$	—	$	6
Short-term borrowings — affiliates	$	97	$	—	$	—	$	97	$	101	$	—	$	—	$	101
Short-term borrowings — other	$	382	$	—	$	382	$	—	$	149	$	—	$	149	$	—
Notes payable — Other(b), excluding lessee finance leases	$	23	$	—	$	—	$	23	$	21	$	—	$	—	$	21
Long-term debt(c)	$	7,179	$	—	$	7,996	$	176	$	6,538	$	—	$	6,552	$	161

_______________________________________

(a) Included in Current Assets — Other on DTE Electric's Consolidated Statements of Financial Position.

(b) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.

(c) Includes debt due within one year, unamortized debt discounts, and issuance costs. Excludes finance lease obligations.

For further fair value information on financial and derivative instruments, see Note 9 to the Consolidated Financial Statements, "Financial and Other Derivative Instruments."

36

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Nuclear Decommissioning Trust Funds

DTE Electric has a legal obligation to decommission its nuclear power plants following the expiration of its operating licenses. This obligation is reflected as an Asset retirement obligation on DTE Electric's Consolidated Statements of Financial Position. Rates approved by the MPSC provide for the recovery of decommissioning costs of Fermi 2 and the disposal of low-level radioactive waste.

The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:

	September 30, 2019		December 31, 2018
	(In millions)
Fermi 2	$	1,567	$	1,372
Fermi 1	3		3
Low-level radioactive waste	7		3
	$	1,577	$	1,378

The costs of securities sold are determined on the basis of specific identification. The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Realized gains	$	15		$	10		$	43		$	52
Realized losses	$	(8	)	$	(7	)	$	(25	)	$	(22	)
Proceeds from sale of securities	$	198		$	194		$	594		$	810

Realized gains and losses from the sale of securities and unrealized gains and losses incurred by the Fermi 2 trust are recorded to the Regulatory asset and Nuclear decommissioning liability. Realized gains and losses from the sale of securities and unrealized gains and losses on the low-level radioactive waste funds are recorded to the Nuclear decommissioning liability.

The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:

	September 30, 2019							December 31, 2018
	Fair Value		Unrealized Gains		Unrealized Losses			Fair Value		Unrealized Gains		Unrealized Losses
	(In millions)
Equity securities	$	990	$	335	$	(53	)	$	851	$	235	$	(79	)
Fixed income securities	544		27		(1		)	502		7		(8		)
Private equity and other	34		—		—			20		—		—
Cash equivalents	9		—		—			5		—		—
	$	1,577	$	362	$	(54	)	$	1,378	$	242	$	(87	)

The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:

	September 30, 2019
	(In millions)
Due within one year	$	23
Due after one through five years	98
Due after five through ten years	108
Due after ten years	315
	$	544

37

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Other Securities

At September 30, 2019 and December 31, 2018, the Registrants' securities, included in Other investments on the Consolidated Statements of Financial Position, were comprised primarily of money market and equity securities. For the three months ended September 30, 2019 and 2018, gains related to equity securities were $3 million and $5 million, respectively. For the nine months ended September 30, 2019 and 2018, gains related to equity securities were $27 million and $4 million, respectively. Gains or losses related to the Rabbi Trust assets are allocated from DTE Energy to DTE Electric.

NOTE 9 — FINANCIAL AND OTHER DERIVATIVE INSTRUMENTS

The Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the portion of the derivative gain or loss that is effective in offsetting the change in the value of the underlying exposure is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. Gains or losses from the ineffective portion of cash flow hedges are recognized in earnings immediately. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period.

The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain coal forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas inventory, pipeline transportation contracts, renewable energy credits, and natural gas storage assets.

DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized.

DTE Gas — DTE Gas purchases, stores, transports, distributes, and sells natural gas and sells storage and transportation capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2022. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. DTE Gas may also sell forward transportation and storage capacity contracts. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method.

Gas Storage and Pipelines — This segment is primarily engaged in services related to the gathering, transportation, and storage of natural gas. Primarily fixed-priced contracts are used in the marketing and management of transportation and storage services. Generally, these contracts are not derivatives and are therefore accounted for under the accrual method.

Power and Industrial Projects — This segment manages and operates energy and pulverized coal projects, a coke battery, reduced emissions fuel projects, renewable gas recovery, and power generation assets. Primarily fixed-price contracts are used in the marketing and management of the segment assets. These contracts are generally not derivatives and are therefore accounted for under the accrual method.

Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.

38

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. Energy Trading enters into these contracts to mitigate price volatility with respect to fluctuations of the Canadian dollar relative to the U.S. dollar. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.

Corporate and Other — Interest Rate Risk — DTE Energy may use interest rate swaps, treasury locks, and other derivatives to hedge the risk associated with interest rate market volatility.

Credit Risk — DTE Energy maintains credit policies that significantly minimize overall credit risk. These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees. DTE Energy generally uses standardized agreements that allow the netting of positive and negative transactions associated with a single counterparty. DTE Energy maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends, and other information. Based on DTE Energy's credit policies and its September 30, 2019 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements.

Derivative Activities

DTE Energy manages its MTM risk on a portfolio basis based upon the delivery period of its contracts and the individual components of the risks within each contract. Accordingly, it records and manages the energy purchase and sale obligations under its contracts in separate components based on the commodity (e.g. electricity or natural gas), the product (e.g. electricity for delivery during peak or off-peak hours), the delivery location (e.g. by region), the risk profile (e.g. forward or option), and the delivery period (e.g. by month and year). The following describes the categories of activities represented by their operating characteristics and key risks:

• Asset Optimization — Represents derivative activity associated with assets owned and contracted by DTE Energy, including forward natural gas purchases and sales, natural gas transportation, and storage capacity. Changes in the value of derivatives in this category typically economically offset changes in the value of underlying non-derivative positions, which do not qualify for fair value accounting. The difference in accounting treatment of derivatives in this category and the underlying non-derivative positions can result in significant earnings volatility.

• Marketing and Origination — Represents derivative activity transacted by originating substantially hedged positions with wholesale energy marketers, producers, end-users, utilities, retail aggregators, and alternative energy suppliers.

• Fundamentals Based Trading — Represents derivative activity transacted with the intent of taking a view, capturing market price changes, or putting capital at risk. This activity is speculative in nature as opposed to hedging an existing exposure.

• Other — Includes derivative activity at DTE Electric related to FTRs. Changes in the value of derivative contracts at DTE Electric are recorded as Derivative assets or liabilities, with an offset to Regulatory assets or liabilities as the settlement value of these contracts will be included in the PSCR mechanism when realized.

39

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The following table presents the fair value of derivative instruments for DTE Energy:

	September 30, 2019					December 31, 2018
	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
	(In millions)
Derivatives designated as hedging instruments
Interest rate contracts	$	—	$	—		$	—	$	(3	)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas	$	253	$	(297	)	$	349	$	(380	)
Electricity	164		(155		)	303		(285		)
Other	10		(8		)	7		(1		)
Foreign currency exchange contracts	2		—			4		—
Total derivatives not designated as hedging instruments	$	429	$	(460	)	$	663	$	(666	)
Current	$	346	$	(339	)	$	563	$	(518	)
Noncurrent	83		(121		)	100		(151		)
Total derivatives	$	429	$	(460	)	$	663	$	(669	)

The following table presents the fair value of derivative instruments for DTE Electric:

	September 30, 2019		December 31, 2018
	(In millions)
FTRs — Other current assets	$	5	$	6
Total derivatives not designated as hedging instruments	$	5	$	6

Certain of DTE Energy's derivative positions are subject to netting arrangements which provide for offsetting of asset and liability positions as well as related cash collateral. Such netting arrangements generally do not have restrictions. Under such netting arrangements, DTE Energy offsets the fair value of derivative instruments with cash collateral received or paid for those contracts executed with the same counterparty, which reduces DTE Energy's Total Assets and Liabilities. Cash collateral is allocated between the fair value of derivative instruments and customer accounts receivable and payable with the same counterparty on a pro-rata basis to the extent there is exposure. Any cash collateral remaining, after the exposure is netted to zero, is reflected in Accounts receivable and Accounts payable as collateral paid or received, respectively.

DTE Energy also provides and receives collateral in the form of letters of credit which can be offset against net Derivative assets and liabilities as well as Accounts receivable and payable. DTE Energy had issued letters of credit of $2 million and $4 million outstanding at September 30, 2019 and December 31, 2018, respectively, which could be used to offset net Derivative liabilities. Letters of credit received from third parties which could be used to offset net Derivative assets were $6 million and $8 million at September 30, 2019 and December 31, 2018, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.

For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.

40

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The following table presents net cash collateral offsetting arrangements for DTE Energy:

	September 30, 2019			December 31, 2018
	(In millions)
Cash collateral netted against Derivative assets	$	—		$	(17	)
Cash collateral recorded in Accounts receivable(a)	9			10
Cash collateral recorded in Accounts payable(a)	(6		)	(6		)
Total net cash collateral posted (received)	$	3		$	(13	)

_______________________________________

(a) Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:

	September 30, 2019									December 31, 2018
	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
Natural gas	$	253		$	(189	)	$	64		$	349		$	(277	)	$	72
Electricity	164			(124		)	40			303			(252		)	51
Other	10			(5		)	5			7			(1		)	6
Foreign currency exchange contracts	2			—			2			4			—			4
Total derivative assets	$	429		$	(318	)	$	111		$	663		$	(530	)	$	133
Derivative liabilities
Commodity contracts
Natural gas	$	(297	)	$	189		$	(108	)	$	(380	)	$	272		$	(108	)
Electricity	(155		)	124			(31		)	(285		)	240			(45		)
Other	(8		)	5			(3		)	(1		)	1			—
Interest rate contracts	—			—			—			(3		)	—			(3		)
Total derivative liabilities	$	(460	)	$	318		$	(142	)	$	(669	)	$	513		$	(156	)

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:

	September 30, 2019												December 31, 2018
	Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
	Current			Noncurrent			Current			Noncurrent			Current			Noncurrent			Current			Noncurrent
	(In millions)
Total fair value of derivatives	$	346		$	83		$	(339	)	$	(121	)	$	563		$	100		$	(518	)	$	(151	)
Counterparty netting	(271		)	(47		)	271			47			(451		)	(62		)	451			62
Collateral adjustment	—			—			—			—			(10		)	(7		)	—			—
Total derivatives as reported	$	75		$	36		$	(68	)	$	(74	)	$	102		$	31		$	(67	)	$	(89	)

41

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

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 the Three Months Ended September 30,						Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
		2019			2018			2019			2018
		(In millions)
Commodity contracts
Natural gas	Operating Revenues — Non-utility operations	$	(5	)	$	(29	)	$	4		$	(51	)
Natural gas	Fuel, purchased power, and gas — non-utility	(47		)	(6		)	(7		)	(74		)
Electricity	Operating Revenues — Non-utility operations	54			26			21			37
Other	Operating Revenues — Non-utility operations	(11		)	—			(11		)	1
Foreign currency exchange contracts	Operating Revenues — Non-utility operations	1			(2		)	(2		)	2
Total		$	(8	)	$	(11	)	$	5		$	(85	)

Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, and gas — non-utility.

The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2019:

Commodity	Number of Units
Natural gas (MMBtu)	2,018,659,087
Electricity (MWh)	30,880,332
Foreign currency exchange (CAD)	79,292,076

Various subsidiaries of DTE Energy have entered into contracts which contain ratings triggers and are guaranteed by DTE Energy. These contracts contain provisions which allow the counterparties to require that DTE Energy post cash or letters of credit as collateral in the event that DTE Energy’s credit rating is downgraded below investment grade. Certain of these provisions (known as "hard triggers") state specific circumstances under which DTE Energy can be required to post collateral upon the occurrence of a credit downgrade, while other provisions (known as "soft triggers") are not as specific. For contracts with soft triggers, it is difficult to estimate the amount of collateral which may be requested by counterparties and/or which DTE Energy may ultimately be required to post. The amount of such collateral which could be requested fluctuates based on commodity prices (primarily natural gas, power, and coal) and the provisions and maturities of the underlying transactions. As of September 30, 2019, DTE Energy's contractual obligation to post collateral in the form of cash or letters of credit in the event of a downgrade to below investment grade, under both hard trigger and soft trigger provisions, was $517 million.

As of September 30, 2019, DTE Energy had $364 million of derivatives in net liability positions, for which hard triggers exist. There is no collateral that has been posted against such liabilities, including cash and letters of credit. Associated derivative net asset positions for which contractual offset exists were $304 million. The net remaining amount of $60 million is derived from the $517 million noted above.

42

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 10 — LONG-TERM DEBT

Debt Issuances

In 2019, the following debt was issued:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	February	Mortgage Bonds(a)	3.95%	2049	$	650
DTE Energy	June	Senior Notes(b)	2.60%	2022	300
DTE Energy	June	Senior Notes(b)	3.40%	2029	500
					$	1,450

_______________________________________

(a) Bonds were issued as Green Bonds and the proceeds will be used to finance expenditures for solar and wind energy, payments under power purchase agreements for solar and wind energy, and energy optimization programs.

(b) Proceeds were used for the repayment of short-term borrowings and general corporate purposes.

In October 2019, DTE Gas issued $140 million of 2.95% First Mortgage Bonds due October 1, 2029 and $140 million of 3.72% First Mortgage Bonds due October 1, 2049 to a group of institutional investors in a private placement transaction. Proceeds were used for the repayment of short-term borrowings and for general corporate purposes.

Additionally in October 2019, the following securities were redeemed at maturity: $400 million DTE Energy 2016 Series D 1.5% Senior Notes and $120 million DTE Gas 2004 Series E 5.0% Senior Notes.

Remarketable Senior Notes

In August 2019, DTE Energy remarketed the $675 million 2016 Series C 1.5% RSNs due 2024 pursuant to the terms of the 2016 Equity Units. As a result of the remarketing, the interest rate was reset to 2.529%, payable semi-annually at the new rate beginning October 1, 2019. At September 30, 2019, these securities are included in Mortgage, bonds, notes and other within DTE Energy's Consolidated Statements of Financial Position. DTE Energy did not receive any proceeds for the remarketing. All proceeds belonged to the investors holding the related 2016 Equity Units and were temporarily used to purchase a portfolio of treasury securities. The securities were released on behalf of investors to complete the related stock purchase contracts settlement date of October 1, 2019 to pay the purchase price to DTE Energy for the issuance of approximately 5.87 million shares of common stock.

NOTE 11 — SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS

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. Additionally, DTE Energy has other facilities to support letter of credit issuance.

The agreements require DTE Energy, DTE Electric, and DTE Gas to maintain a total funded debt to capitalization ratio of no more than 0.65 to 1. In the agreements, "total funded debt" means all indebtedness of each respective company and their consolidated subsidiaries, including capital 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 September 30, 2019, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.57 to 1, 0.52 to 1, and 0.46 to 1, respectively, and were in compliance with this financial covenant.

43

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The availability under the facilities in place at September 30, 2019 is shown in the following table:

	DTE Energy		DTE Electric		DTE Gas		Total
	(In millions)
Unsecured letter of credit facility, expiring in February 2021	$	150	$	—	$	—	$	150
Unsecured letter of credit facility, expiring in August 2021	110		—		—		110
Unsecured revolving credit facility, expiring April 2024	1,500		500		300		2,300
	1,760		500		300		2,560
Amounts outstanding at September 30, 2019
Commercial paper issuances	110		382		232		724
Letters of credit	191		—		—		191
	301		382		232		915
Net availability at September 30, 2019	$	1,459	$	118	$	68	$	1,645

In August 2019, DTE Energy increased its $70 million letter of credit facility to $110 million. The facility's maturity date was amended from September 2019 to August 2021.

DTE Energy has $9 million of other outstanding letters of credit which are used for various corporate purposes and are not included in the facilities described above.

In conjunction with maintaining certain exchange traded risk management positions, DTE Energy may be required to post collateral with its clearing agent. DTE Energy has a demand financing agreement for up to $100 million with its clearing agent. The agreement, as amended, also allows for up to $50 million of additional margin financing provided that DTE Energy posts a letter of credit for the incremental amount and allows the right of setoff with posted collateral. At September 30, 2019, the capacity under this facility was $150 million. The amount outstanding under this agreement was $94 million and $93 million at September 30, 2019 and December 31, 2018, respectively, and was fully offset by the posted collateral.

NOTE 12 — LEASES

Disclosures related to the nine months ended September 30, 2019 are presented as required under Topic 842. Prior period disclosures for the year ended December 31, 2018 are presented under Topic 840. The Registrants have elected to use a practical expedient provided by Topic 842 whereby comparative disclosures for prior periods are allowed to be presented under Topic 840. Prior period disclosures under Topic 840 have been provided on an annual basis. As a result, the disclosures presented under Topic 842 and Topic 840 will not be fully comparable in specific disclosure requirements or time period.

Lessee

Topic 842 — Leases at DTE Energy are primarily comprised of various forms of equipment, computer hardware, coal railcars, production facilities, buildings, and certain easement leases with terms ranging from approximately 2 to 40 years. Leases at DTE Electric are primarily comprised of various forms of equipment, computer hardware, coal railcars, and certain easement leases with terms ranging from approximately 2 to 40 years.

A lease is deemed to exist when the Registrants have the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration paid. The right to control is deemed to occur when the Registrants have the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

Lease liabilities are determined utilizing a discount rate to determine the present values of lease payments. Topic 842 requires the use of the rate implicit in the lease when it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The Registrants have determined their respective incremental borrowing rates based upon the rate of interest that would have been paid on a collateralized basis over similar tenors to that of the leases. The incremental borrowing rates for DTE Electric and DTE Gas have been determined utilizing respective secured borrowing rates for first mortgage bonds with like tenors of remaining lease terms. Incremental borrowing rates for non-utility entities have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar tenor of remaining lease terms, which is then adjusted for the estimated impact of collateral.

44

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Certain leases of the Registrants contain escalation clauses whereby the payments are adjusted for consumer price or labor indices. DTE Energy has leases with non-index based escalation clauses for fixed dollar or percentage increases. DTE Electric has leases with non-index based escalation clauses for fixed dollar increases. DTE Energy also has leases with variable payments based upon usage of, or revenues associated with, the leased assets. DTE Electric also has leases with variable payments based upon the usage of the leased assets.

Certain leases of easements and coal railcars contain provisions whereby the Registrants have the option to terminate the lease agreement by giving notice of such termination during the time frames specified in the respective lease. The Registrants have considered such provisions in the determination of the lease term when it is reasonably certain that the lease would be terminated.

The Registrants have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, the Registrants have determined it is not reasonably certain that such purchase options will be utilized. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases.

The Registrants have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right of use assets and lease liabilities.

The Registrants have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices. The Registrants have certain coal railcar leases for which non-lease and lease components are accounted for as a single lease component, as permitted under Topic 842.

The components of lease cost for DTE Energy were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	10	$	31
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	2		8
Short-term lease cost	2		7
	$	14	$	49

The components of lease cost for DTE Electric were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	5	$	13
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	—		—
Short-term lease cost	1		2
	$	6	$	18

45

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The Registrants have elected not to apply the recognition requirements of Topic 842 to leases with a term of 12 months or less. DTE Energy and DTE Electric record operating, variable, and short-term lease costs as Operating Expenses on the Consolidated Statements of Operations, except for certain amounts that may be capitalized to other assets.

Other information related to leases were as follows:

	DTE Energy		DTE Electric
	Nine Months Ended September 30, 2019
	(In millions)
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$	4	$	4
Operating cash flows from operating leases	$	30	$	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	37	$	2
Weighted Average Remaining Lease Term
Operating leases	9.7 years		10.6 years
Finance leases	2.3 years		2.3 years
Weighted Average Discount Rate
Operating leases	3.7%		3.7%
Finance leases	3.1%		3.1%

The Registrants' future minimum lease payments under leases for remaining periods as of September 30, 2019 were as follows:

	DTE Energy					DTE Electric
	Operating Leases			Finance Leases		Operating Leases			Finance Leases
	(In millions)
2019	$	10		$	1	$	4		$	1
2020	35			4		13			4
2021	26			3		11			3
2022	19			—		7			—
2023	16			—		6			—
2024 and thereafter	62			—		30			—
Total future minimum lease payments	168			8		71			8
Imputed interest	(30		)	—		(13		)	—
	$	138		$	8	$	58		$	8

Finance leases reported on the Consolidated Statement of Financial Position were as follows:

	DTE Energy		DTE Electric
	September 30, 2019
	(In millions)
Right-of-use assets, within Property, plant, and equipment, net	$	8	$	8
Current lease liabilities, within Current Liabilities — Other	$	3	$	3

Topic 840 — The following disclosures are presented under Topic 840 for the year ended December 31, 2018.

The Registrants lease various assets under operating leases, including coal railcars, office buildings, a warehouse, computers, vehicles, and other equipment. The lease arrangements expire at various dates through 2051 and 2046 for DTE Energy and DTE Electric, respectively.

46

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2018 were as follows:

	DTE Energy		DTE Electric
	(In millions)
2019	$	42	$	17
2020	30		12
2021	18		10
2022	11		7
2023	8		5
2024 and thereafter	45		29
	$	154	$	80

Lessor

Topic 842 — DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a 20-year finance lease contract that expires in 2020, with renewal options extending for five years each. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has an energy services agreement that expires in 2026, of which a portion is accounted for as a finance lease.

DTE Energy also leases various assets under operating leases for a pipeline, energy facilities and related equipment. Such leases are comprised of both fixed payments and variable payments which are contingent on volumes, with terms ranging from 3 to 24 years. Generally, the operating leases do not have renewal provisions or options to purchase the assets at the end of the lease. The operating leases generally do not have termination for convenience provisions. Termination may be allowed under specific circumstances stated in the lease contract, such as under an event of default.

Certain of the finance and operating leases have lease terms that extend to the end of the estimated economic life of the leased assets, thereby resulting in no residual value. Any remaining residual values under the finance and operating leases are expected to be recovered through rates, renewals or new lease contracts. Residual values have been determined using the estimated economic life of the leased assets. The finance and operating leases do not contain residual value guarantees.

Certain of the operating leases have both lease and non-lease components. The lease and non-lease components are allocated based upon estimated relative standalone selling prices.

A lease is deemed to exist when the Registrants have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration received. The right to control is deemed to occur when the Registrants have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

DTE Energy’s lease income associated with operating leases was as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Fixed payments	$	17	$	51
Variable payments	40		92
	$	57	$	143

47

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

DTE Energy’s minimum future rental revenues under operating leases for remaining periods as of September 30, 2019 were:

	DTE Energy
	(In millions)
2019	$	16
2020	66
2021	64
2022	22
2023	22
2024 and thereafter	216
	$	406

Depreciation expense associated with DTE Energy's property under operating leases was $7 million and $20 million for the three and nine months ended September 30, 2019, respectively.

Property under operating leases for DTE Energy was as follows:

	DTE Energy
	September 30, 2019
	(In millions)
Gross property under operating leases	$	444
Accumulated amortization of property under operating leases	$	166

The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:

	DTE Energy
	September 30, 2019
	(In millions)
2019	$	3
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	13
Residual value of leased pipeline	40
Less unearned income	6
Net investment in finance lease	47
Less current portion	5
	$	42

Interest income recognized under finance leases was $2 million and $4 million for the three and nine months ended September 30, 2019, respectively.

48

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Topic 840 — DTE Energy leases various assets under operating leases for energy facilities and related equipment.

DTE Energy’s minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were:

	DTE Energy
	(In millions)
2019	$	66
2020	66
2021	64
2022	20
2023	20
2024 and thereafter	196
	$	432

The amounts listed above do not include contingent rentals associated with the leased assets. DTE Energy had contingent rental revenues of $107 million, $91 million, and $101 million in 2018, 2017, and 2016, respectively.

DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a capital lease contract that expires in 2020, with renewal options extending for five years. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has two energy services agreements, for which a portion of are accounted for as capital leases. These agreements expire in 2019 and 2026.

The components of DTE Energy’s net investment in capital leases at December 31, 2018 were as follows:

	DTE Energy
	(In millions)
2019	$	10
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	20
Residual value of leased pipeline	40
Less unearned income	9
Net investment in capital lease	51
Less current portion	5
	$	46

Property under operating leases for DTE Energy as of December 31, 2018 were as follows:

	DTE Energy
	(In millions)
Gross property under operating leases	$	447
Accumulated amortization of property under operating leases	$	148

49

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 13 — COMMITMENTS AND CONTINGENCIES

Environmental

DTE Electric

Air — DTE Electric is subject to the EPA ozone and fine particulate transport and acid rain regulations that limit power plant emissions of SO₂ and NO_X. The EPA and the State of Michigan have also issued emission reduction regulations relating to ozone, fine particulate, regional haze, mercury, and other air pollution. These rules have led to controls on fossil-fueled power plants to reduce SO₂, NO_X, mercury, and other emissions. Additional rulemakings may occur over the next few years which could require additional controls for SO₂, NO_X, and other hazardous air pollutants.

The EPA proposed revised air quality standards for ground level ozone in November 2014 and specifically requested comments on the form and level of the ozone standards. The standards were finalized in October 2015. The State of Michigan recommended to the EPA in October 2016 which areas of the state are not attaining the new standard. On April 30, 2018, the EPA finalized the State of Michigan's recommended marginal non-attainment designation for southeast Michigan. The State is required to develop and implement a plan to address the southeast Michigan ozone non-attainment area by 2021. The Registrants cannot predict the financial impact of the State's plan to address the ozone non-attainment area at this time.

In July 2009, the Registrants received a NOV/FOV from the EPA alleging, among other things, that five DTE Electric power plants violated New Source Performance standards, Prevention of Significant Deterioration requirements, and operating permit requirements under the Clean Air Act. In June 2010, the EPA issued a NOV/FOV making similar allegations related to a project and outage at Unit 2 of the Monroe Power Plant. In March 2013, DTE Energy received a supplemental NOV from the EPA relating to the July 2009 NOV/FOV. The supplemental NOV alleged additional violations relating to the New Source Review provisions under the Clean Air Act, among other things.

In August 2010, the U.S. Department of Justice, at the request of the EPA, brought a civil suit in the U.S. District Court for the Eastern District of Michigan against DTE Energy and DTE Electric, related to the June 2010 NOV/FOV and the outage work performed at Unit 2 of the Monroe Power Plant. In August 2011, the U.S. District Court judge granted DTE Energy's motion for summary judgment in the civil case, dismissing the case and entering judgment in favor of DTE Energy and DTE Electric. In October 2011, the EPA filed a Notice of Appeal to the Court of Appeals for the Sixth Circuit. In March 2013, the Court of Appeals remanded the case to the U.S. District Court for review of the procedural component of the New Source Review notification requirements. In September 2013, the EPA filed a motion seeking leave to amend their complaint regarding the June 2010 NOV/FOV adding additional claims related to outage work performed at the Trenton Channel and Belle River Power Plants as well as additional claims related to work performed at the Monroe Power Plant. In March 2014, the U.S. District Court judge again granted DTE Energy's motion for summary judgment dismissing the civil case related to Monroe Unit 2. In April 2014, the U.S. District Court judge granted motions filed by the EPA and the Sierra Club to amend their New Source Review complaint adding additional claims for Monroe Units 1, 2, and 3, Belle River Units 1 and 2, and Trenton Channel Unit 9. In October 2014, the EPA and the U.S. Department of Justice filed a notice of appeal of the U.S. District Court judge's dismissal of the Monroe Unit 2 case. The amended New Source Review claims were all stayed pending resolution of the appeal by the Court of Appeals for the Sixth Circuit. On January 10, 2017, a divided panel of the Court reversed the decision of the U.S. District Court. On May 8, 2017, DTE Energy and DTE Electric filed a motion to stay the mandate pending filing of a petition for writ of certiorari with the U.S. Supreme Court. The Sixth Circuit granted the motion on May 16, 2017, staying the claims in the U.S. District Court until the U.S. Supreme Court disposes of the case. DTE Electric and DTE Energy filed a petition for writ of certiorari on July 31, 2017. On December 11, 2017, the U.S. Supreme Court denied certiorari. As a result of the Supreme Court electing not to review the matter, the case was sent back to the U.S. District Court for further proceedings and on June 14, 2018 the case was stayed pending settlement negotiations. The proceedings at the District Court remain stayed while the parties discuss potential resolution of the matter.

The Registrants believe that the plants and generating units identified by the EPA and the Sierra Club have complied with all applicable federal environmental regulations. Depending upon the outcome of the litigation and further discussions with the EPA regarding the two NOVs/FOVs, DTE Electric could be required to install additional pollution control equipment at some or all of the power plants in question, implement early retirement of facilities where control equipment is not economical, engage in supplemental environmental programs, and/or pay fines. The Registrants do not expect the outcome for this matter to have a material impact on their Consolidated Financial Statements.

50

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

The EPA has implemented regulatory actions under the Clean Air Act to address emissions of GHGs from the utility sector and other sectors of the economy. Among these actions, in 2015 the EPA finalized performance standards for emissions of carbon dioxide from new and existing fossil-fuel fired EGUs. The performance standards for existing EGUs, known as the EPA Clean Power Plan, were challenged by petitioners and stayed by the U.S. Supreme Court in February 2016 pending final review by the courts. On October 10, 2017, the EPA, under a new administration, proposed to rescind the Clean Power Plan, and in August 2018, the EPA proposed revised emission guidelines for GHGs from existing EGUs. On June 19, 2019, the EPA Administrator officially repealed the Clean Power Plan and finalized its replacement, named the Affordable Clean Energy (ACE) rule. These final rules do not impact DTE Energy's revised commitment to reduce carbon emissions 32% by the early 2020s, 50% by 2030, and 80% by 2040, or its goal of net zero emissions by 2050 for DTE Electric, from the 2005 carbon emissions levels.

In addition to the GHG standards for existing EGUs, in December 2018, the EPA issued proposed revisions to the carbon dioxide performance standards for new, modified, or reconstructed fossil-fuel fired EGUs. The carbon standards for new sources are not expected to have a material impact on DTE Electric, since DTE Electric has no plans to build new coal-fired generation and any potential new gas generation will be able to comply with the standards.

Pending or future legislation or other regulatory actions could have a material impact on DTE Electric's operations and financial position and the rates charged to its customers. Impacts include expenditures for environmental equipment beyond what is currently planned, financing costs related to additional capital expenditures, the purchase of emission credits from market sources, higher costs of purchased power, and the retirement of facilities where control equipment is not economical. DTE Electric would seek to recover these incremental costs through increased rates charged to its utility customers, as authorized by the MPSC.

To comply with air pollution requirements, DTE Electric spent approximately $2.4 billion through 2018. DTE Electric does not anticipate additional capital expenditures for air pollution requirements through 2025.

Water — In response to an EPA regulation, DTE Electric was required to examine alternatives for reducing the environmental impacts of the cooling water intake structures at several of its facilities. Based on the results of completed studies and expected future studies, DTE Electric may be required to install technologies to reduce the impacts of the water intake structures. A final rule became effective in October 2014. The final rule requires studies to be completed and submitted as part of the National Pollutant Discharge Elimination System (NPDES) permit application process to determine the type of technology needed to reduce impacts to fish. DTE Electric has initiated the process of completing the required studies. Final compliance for the installation of any required technology will be determined by the state on a case by case, site specific basis. DTE Electric is currently evaluating the compliance options and working with the State of Michigan on evaluating whether any controls are needed. These evaluations/studies may require modifications to some existing intake structures. It is not possible to quantify the impact of this rulemaking at this time.

Contaminated and Other Sites — Prior to the construction of major interstate natural gas pipelines, gas for heating and other uses was manufactured locally from processes involving coal, coke, or oil. The facilities, which produced gas, have been designated as MGP sites. DTE Electric conducted remedial investigations at contaminated sites, including three former MGP sites. The investigations have revealed contamination related to the by-products of gas manufacturing at each MGP site. In addition to the MGP sites, DTE Electric is also in the process of cleaning up other contaminated sites, including the area surrounding an ash landfill, electrical distribution substations, electric generating power plants, and underground and aboveground storage tank locations. The findings of these investigations indicated that the estimated cost to remediate these sites is expected to be incurred over the next several years. At September 30, 2019 and December 31, 2018, DTE Electric had $8 million and $7 million, respectively, accrued for remediation. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Electric’s financial position and cash flows. DTE Electric believes the likelihood of a material change to the accrued amount is remote based on current knowledge of the conditions at each site.

Coal Combustion Residuals and Effluent Limitations Guidelines — A final EPA rule for the disposal of coal combustion residuals, commonly known as coal ash, became effective in October 2015, and was revised in October 2016 and July 2018. Additionally, D.C. District Court Decisions on August 21, 2018 and March 19, 2019 may affect the timing of closure of coal ash impoundments that are not lined with an engineered liner system. In late 2019, the EPA is expected to affirmatively undertake rulemaking to implement the D.C. District Court's decisions that will determine any changes to DTE Electric's plans in the operation and closure of coal ash impoundments.

51

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

At the State level, legislation was signed by the Governor in December 2018 and provides for further regulation of the CCR program in Michigan. Additionally, the bill provides the basis of a CCR program that EGLE will submit to the EPA for approval to fully regulate the CCR program in Michigan in lieu of a Federal permit program.

DTE Electric owns and operates three permitted engineered coal ash storage facilities to dispose of coal ash from coal-fired power plants and operates a number of smaller impoundments at its power plants. CCR obligations vary based on plant life, but include the installation of monitoring wells, compliance with groundwater standards, and the closure of landfills and basins at the end of the useful life of the associated power plant unless closure is triggered by a specific CCR rule requirement. Under the current CCR rules and uncertainty regarding the outcome of the D.C. District Court decision to remand portions of the rule to the EPA, capital costs and timing associated with the building of new CCR facilities or retirement of existing CCR facilities are being evaluated.

In November 2015, the EPA finalized the ELG Rule for the steam electric power generating industry which requires additional controls to be installed between 2018 and 2023. Compliance schedules for individual facilities and individual waste streams are determined through issuance of new National Pollutant Discharge Elimination System (NPDES) permits by the State of Michigan. The State of Michigan has issued a NPDES permit for the Belle River Power Plant establishing a compliance deadline of December 31, 2021. No new permits that would require ELG compliance have been issued for other facilities, consequently no compliance timelines have been established.

On April 12, 2017, the EPA granted a petition for reconsideration of the ELG Rule. The EPA also signed an administrative stay of the ELG Rule’s compliance deadlines for fly ash transport water, bottom ash transport water, and flue gas desulfurization (FGD) wastewater, among others. On June 6, 2017, the EPA published in the Federal Register a proposed rule (Postponement Rule) to postpone certain applicable deadlines within the 2015 ELG rule. The Postponement Rule was published on September 18, 2017. The Postponement Rule nullified the administrative stay but also extended the earliest compliance deadlines for only FGD wastewater and bottom ash transport water until November 1, 2020 in order for the EPA to propose and finalize a new ruling. The ELG compliance requirements and final deadlines for bottom ash transport water and FGD wastewater, and total ELG related compliance costs will not be known until the EPA completes its reconsideration of the ELG Rule expected by the end of 2020.

DTE Gas

Contaminated and Other Sites — DTE Gas owns or previously owned, 14 former MGP sites. Investigations have revealed contamination related to the by-products of gas manufacturing at each site. Cleanup of eight of the MGP sites is complete, and the sites are closed. DTE Gas has also completed partial closure of four additional sites. Cleanup activities associated with the remaining sites will continue over the next several years. The MPSC has established a cost deferral and rate recovery mechanism for investigation and remediation costs incurred at former MGP sites. In addition to the MGP sites, DTE Gas is also in the process of cleaning up other contaminated sites, including gate stations, gas pipeline releases, and underground storage tank locations. As of September 30, 2019 and December 31, 2018, DTE Gas had $25 million accrued for remediation. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Gas' financial position and cash flows. DTE Gas anticipates the cost amortization methodology approved by the MPSC, which allows for amortization of the MGP costs over a ten-year period beginning with the year subsequent to the year the MGP costs were incurred, will prevent environmental costs from having a material adverse impact on DTE Gas' results of operations.

Non-utility

DTE Energy's non-utility businesses are subject to a number of environmental laws and regulations dealing with the protection of the environment from various pollutants.

In March 2019, the EPA issued a finding of violation to EES Coke, the Michigan coke battery facility that is a wholly-owned subsidiary of DTE Energy, alleging that the 2008 and 2014 permits issued by EGLE did not comply with the Clean Air Act. EES Coke evaluated the EPA's alleged violations and believes that the permits approved by EGLE complied with the Clean Air Act. Discussions with the EPA are ongoing. At the present time, DTE Energy does not believe this will have a material financial impact.

52

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Other

In 2010, the EPA finalized a new one-hour SO₂ ambient air quality standard that requires states to submit plans and associated timelines for non-attainment areas that demonstrate attainment with the new SO₂ standard in phases. Phase 1 addresses non-attainment areas designated based on ambient monitoring data. Phase 2 addresses non-attainment areas with large sources of SO₂ and modeled concentrations exceeding the National Ambient Air Quality Standards for SO₂. Phase 3 addresses smaller sources of SO₂ with modeled or monitored exceedances of the new SO₂ standard.

Michigan's Phase 1 non-attainment area includes DTE Energy facilities in southwest Detroit and areas of Wayne County. Modeling runs by EGLE suggest that emission reductions may be required by significant sources of SO₂ emissions in these areas, including DTE Electric power plants and DTE Energy's Michigan coke battery facility. As part of the state implementation plan process, DTE Energy has worked with EGLE to develop air permits reflecting significant SO₂ emission reductions that, in combination with other non-DTE Energy sources' emission reduction strategies, will help the state attain the standard and sustain its attainment. Since several non-DTE Energy sources are also part of the proposed compliance plan, DTE Energy is unable to determine the full impact of the final required emissions reductions at this time.

Michigan's Phase 2 non-attainment area includes DTE Electric facilities in St. Clair County. State implementation plan (SIP) submittal and EPA approval describing the control strategy and timeline for demonstrating compliance with the new SO₂ standard is the next step in the process and is expected to be completed by the end of 2019. DTE Energy is currently working with EGLE to develop the required SIP. DTE Energy is unable to determine the full impact of the SIP strategy.

Synthetic Fuel Guarantees

DTE Energy discontinued the operations of its synthetic fuel production facilities throughout the United States as of December 31, 2007. DTE Energy provided certain guarantees and indemnities in conjunction with the sales of interests in its synfuel facilities. The guarantees cover potential commercial, environmental, oil price, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations. DTE Energy estimates that its maximum potential liability under these guarantees at September 30, 2019 was approximately $400 million. Payment under these guarantees are considered remote.

REF Guarantees

DTE Energy has provided certain guarantees and indemnities in conjunction with the sales of interests in or lease of its REF facilities. The guarantees cover potential commercial, environmental, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations. DTE Energy estimates that its maximum potential liability under these guarantees at September 30, 2019 was $491 million. Payments under these guarantees are considered remote.

NEXUS Guarantees

NEXUS entered into certain 15-year capacity agreements for the transportation of natural gas with DTE Gas and Texas Eastern Transmission, LP, an unrelated third party. Pursuant to the terms of those agreements, in December 2016, DTE Energy executed separate guarantee agreements with DTE Gas and Texas Eastern Transmission, LP, with maximum potential payments totaling $242 million and $377 million at September 30, 2019, respectively; each representing 50% of all payment obligations due and payable by NEXUS. Each guarantee terminates at the earlier of (i) such time as all of the guaranteed obligations have been fully performed, or (ii) two months following the end of the primary term of the capacity agreements. In October 2018, NEXUS Pipeline was placed in service. The amount of each guarantee decreases annually as payments are made by NEXUS to each of the aforementioned counterparties.

NEXUS also entered into certain 15-year capacity agreements for the transportation of natural gas with Vector, an equity method investee of DTE Energy. Pursuant to the terms of those agreements, in October 2018, DTE Energy executed a guarantee agreement with Vector, with a maximum potential payment totaling $7 million at September 30, 2019, representing 50% of the first-year payment obligations due and payable by NEXUS. The guarantee terminates at the earlier of (i) such time as all of the guaranteed obligations have been fully performed or (ii) 15 years from the date DTE Energy entered into the guarantee.

Should NEXUS fail to perform under the terms of these agreements, DTE Energy is required to perform on its behalf. Payments under these guarantees are considered remote.

53

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Other Guarantees

In certain limited circumstances, the Registrants enter into contractual guarantees. The Registrants may guarantee another entity’s obligation in the event it fails to perform and may provide guarantees in certain indemnification agreements. Finally, the Registrants may provide indirect guarantees for the indebtedness of others. DTE Energy’s guarantees are not individually material with maximum potential payments totaling $56 million at September 30, 2019. Payments under these guarantees are considered remote.

DTE Energy is periodically required to obtain performance surety bonds in support of obligations to various governmental entities and other companies in connection with its operations. As of September 30, 2019, DTE Energy had $108 million of performance bonds outstanding. In the event that such bonds are called for nonperformance, DTE Energy would be obligated to reimburse the issuer of the performance bond. DTE Energy is released from the performance bonds as the contractual performance is completed and does not believe that a material amount of any currently outstanding performance bonds will be called.

Vector Line of Credit

In July 2019, DTE Energy, as lender, entered into a revolving term credit facility with Vector, as borrower, in the amount of C$70 million. The credit facility was executed in response to the passage of Canadian regulations requiring oil and gas pipelines to demonstrate their financial ability to respond to a catastrophic event and exists for the sole purpose of satisfying these regulations. Vector may only draw upon the facility if the funds are required to respond to a catastrophic event. The maximum potential payments under the line of credit at September 30, 2019 is $53 million. The funding of a loan under the terms of the credit facility is considered remote.

Labor Contracts

There are several bargaining units for DTE Energy subsidiaries' approximate 5,200 represented employees, including DTE Electric's approximate 2,800 represented employees. The majority of the represented employees are under contracts that expire in 2020 and 2021.

Purchase Commitments

Utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees will be approximately $5.9 billion and $2.2 billion in 2019 for DTE Energy and DTE Electric, respectively. The Registrants have made certain commitments in connection with the estimated 2019 annual capital expenditures and contributions to equity method investees.

Bankruptcies

DTE Energy's Power and Industrial Projects segment holds ownership interests in, and operates, five generating plants that sell electric output from renewable sources under long-term power purchase agreements with PG&E. PG&E filed for Chapter 11 bankruptcy protection on January 29, 2019. As of September 30, 2019, PG&E's account is substantially current and outstanding accounts receivable from PG&E are not material. Therefore, DTE Energy determined no reserve was necessary.

As of September 30, 2019, the book value of long-lived assets used in producing electric output for sale to PG&E was approximately $102 million. The Power and Industrial Projects segment also has equity investments, including a note receivable, of approximately $72 million in entities that sell power to PG&E. In January 2019, following the bankruptcy filing, DTE Energy performed an impairment analysis on its long-lived assets. Based on its undiscounted cash flow projections, DTE Energy determined it did not have an impairment loss as of December 31, 2018. DTE Energy also determined there was not an other-than-temporary decline in its equity investments. There were no other new events occurring during the nine months ended September 30, 2019, that would negatively impact the assumptions made within the December 31, 2018 impairment analysis. Therefore, no triggering events were identified. DTE Energy's assumptions and conclusions may change, and it could have impairment losses if any of the terms of the contracts are not honored by PG&E or the contracts are rejected through the bankruptcy process.

54

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Other Contingencies

The Registrants are involved in certain other legal, regulatory, administrative, and environmental proceedings before various courts, arbitration panels, and governmental agencies concerning claims arising in the ordinary course of business. These proceedings include certain contract disputes, additional environmental reviews and investigations, audits, inquiries from various regulators, and pending judicial matters. The Registrants cannot predict the final disposition of such proceedings. The Registrants regularly review legal matters and record provisions for claims that they can estimate and are considered probable of loss. The resolution of these pending proceedings is not expected to have a material effect on the Registrants' Consolidated Financial Statements in the periods they are resolved.

For a discussion of contingencies related to regulatory matters and derivatives, see Notes 6 and 9 to the Consolidated Financial Statements, "Regulatory Matters" and "Financial and Other Derivative Instruments," respectively.

NOTE 14 — RETIREMENT BENEFITS AND TRUSTEED ASSETS

The following tables detail the components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits for DTE Energy:

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Service cost	$	21		$	24		$	5		$	6
Interest cost	55			51			18			18
Expected return on plan assets	(82		)	(82		)	(30		)	(36		)
Amortization of:
Net actuarial loss	33			43			3			3
Prior service credit	—			—			(3		)	—
Net periodic benefit cost (credit)	$	27		$	36		$	(7	)	$	(9	)

	Pension Benefits						Other Postretirement Benefits
	Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Service cost	$	63		$	74		$	16		$	20
Interest cost	164			151			53			52
Expected return on plan assets	(244		)	(247		)	(92		)	(107		)
Amortization of:
Net actuarial loss	99			132			9			8
Prior service credit	—			—			(7		)	—
Net periodic benefit cost (credit)	$	82		$	110		$	(21	)	$	(27	)

55

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

DTE Electric participates in various plans that provide pension and other postretirement benefits for DTE Energy and its affiliates. The plans are sponsored by DTE Energy's subsidiary, DTE Energy Corporate Services, LLC. DTE Electric accounts for its participation in DTE Energy's qualified and nonqualified pension plans by applying multiemployer accounting. DTE Electric accounts for its participation in other postretirement benefit plans by applying multiple-employer accounting. Within multiemployer and multiple-employer plans, participants pool plan assets for investment purposes and to reduce the cost of plan administration. The primary difference between plan types is assets contributed in multiemployer plans can be used to provide benefits for all participating employers, while assets contributed within a multiple-employer plan are restricted for use by the contributing employer. As a result of multiemployer accounting treatment, capitalized costs associated with these plans are reflected in Property, plant, and equipment in DTE Electric's Consolidated Statements of Financial Position. The same capitalized costs are reflected as Regulatory assets and liabilities in DTE Energy's Consolidated Statements of Financial Position. In addition, the service cost and non-service cost components are presented in Operation and maintenance in DTE Electric's Consolidated Statements of Operations. The same non-service cost components are presented in Other (Income) and Deductions — Non-operating retirement benefits, net in DTE Energy's Consolidated Statements of Operations. Plan participants of all plans are solely DTE Energy and affiliate participants.

DTE Energy's subsidiaries are responsible for their share of qualified and nonqualified pension benefit costs. DTE Electric's allocated portion of pension benefit costs included in capital expenditures and operating and maintenance expense were $23 million and $30 million for the three months ended September 30, 2019 and 2018, respectively, and $68 million and $90 million for the nine months ended September 30, 2019 and 2018, respectively. These amounts include recognized contractual termination benefit charges, curtailment gains, and settlement charges.

The following tables detail the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:

	Other Postretirement Benefits
	Three Months Ended September 30,
	2019			2018
	(In millions)
Service cost	$	4		$	5
Interest cost	13			13
Expected return on plan assets	(21		)	(25		)
Amortization of:
Net actuarial loss	1			3
Prior service credit	(1		)	—
Net periodic benefit credit	$	(4	)	$	(4	)

	Other Postretirement Benefits
	Nine Months Ended September 30,
	2019			2018
	(In millions)
Service cost	$	12		$	15
Interest cost	40			40
Expected return on plan assets	(63		)	(74		)
Amortization of:
Net actuarial loss	3			7
Prior service credit	(5		)	—
Net periodic benefit credit	$	(13	)	$	(12	)

56

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Pension and Other Postretirement Contributions

During 2019, DTE Energy contributed the following amounts of DTE Energy common stock to the DTE Energy Company Affiliates Employee Benefit Plans Master Trust:

Date	Number of Shares	Price per Share		Amount
				(In millions)
March 5, 2019	814,597	$	122.76	$	100

The above contribution was made on behalf of DTE Electric, for which DTE Electric paid DTE Energy cash consideration of $100 million in March 2019. DTE Energy made cash contributions of $50 million to the qualified pension plans in the first nine months of 2019. DTE Energy does not anticipate making any additional contributions to its pension or other postretirement benefit plans in 2019.

NOTE 15 — SEGMENT AND RELATED INFORMATION

DTE Energy sets strategic goals, allocates resources, and evaluates performance based on the following structure:

Electric segment consists principally of DTE Electric, which is engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan.

Gas segment consists principally of DTE Gas, which is engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million residential, commercial, and industrial customers throughout Michigan and the sale of storage and transportation capacity.

Gas Storage and Pipelines is primarily engaged in services related to the gathering, transportation, and storage of natural gas.

Power and Industrial Projects is comprised primarily of projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers, produce reduced emissions fuel, and sell electricity and pipeline-quality gas from renewable energy projects.

Energy Trading consists of energy marketing and trading operations.

Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds energy-related investments.

The federal income tax provisions or benefits of DTE Energy’s subsidiaries are determined on an individual company basis and recognize the tax benefit of tax credits and net operating losses, if applicable. The state and local income tax provisions of the utility subsidiaries are determined on an individual company basis and recognize the tax benefit of various tax credits and net operating losses, if applicable. The subsidiaries record federal, state, and local income taxes payable to or receivable from DTE Energy based on the federal, state, and local tax provisions of each company.

57

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider and primarily consists of the sale of reduced emissions fuel, power sales, and natural gas sales in the following segments:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Electric	$	16	$	13	$	43	$	39
Gas	3		3		8		9
Gas Storage and Pipelines	11		7		17		29
Power and Industrial Projects	160		171		462		488
Energy Trading	4		6		16		18
Corporate and Other	1		1		2		2
	$	195	$	201	$	548	$	585

Financial data of DTE Energy's business segments follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Operating Revenues — Utility operations
Electric	$	1,520		$	1,521		$	3,945		$	4,002
Gas	155			164			1,043			969
Operating Revenues — Non-utility operations
Gas Storage and Pipelines	126			122			363			363
Power and Industrial Projects	406			612			1,196			1,717
Energy Trading	1,105			1,332			3,519			3,994
Corporate and Other	2			—			3			2
Reconciliation and Eliminations	(195		)	(201		)	(548		)	(585		)
Total	$	3,119		$	3,550		$	9,521		$	10,462

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment:
Electric	$	307		$	305		$	587		$	608
Gas	(38		)	(30		)	121			88
Gas Storage and Pipelines	60			66			158			188
Power and Industrial Projects	49			58			104			146
Energy Trading	(14		)	(13		)	12			13
Corporate and Other	(45		)	(52		)	(80		)	(114		)
Net Income Attributable to DTE Energy Company	$	319		$	334		$	902		$	929

58

DTE Energy Company — DTE Electric Company

Combined Notes to Consolidated Financial Statements (Unaudited) — (Continued)

NOTE 16 — SUBSEQUENT EVENT

During October 2019, DTE Energy entered into an agreement with Momentum Midstream and Indigo Natural Resources to purchase midstream natural gas assets in support of its strategy to continue to grow and earn competitive returns for shareholders. The agreement calls for DTE Energy to acquire 100 percent of M5 Louisiana Gathering, LLC and its wholly owned subsidiaries which provide natural gas gathering and other midstream services to producers, primarily in Louisiana. The acquisition has an estimated purchase price of $2.65 billion and is expected to close in December 2019, subject to customary closing conditions. The purchase price includes $2.25 billion to be paid in cash upon closing, plus an estimated $400 million milestone payment upon completion of a gathering pipeline in the second half of 2020. These assets will be a part of DTE Energy’s non-utility Gas Storage and Pipelines business. The acquisition will be financed through the issuance of Equity Units, common stock, and Senior Notes.

Upon closing, DTE Energy will obtain control over and apply acquisition accounting to the acquired entities, including disclosure of amounts recognized for the major classes of assets and liabilities acquired. DTE Energy will include all required information within the combined DTE Energy and DTE Electric Annual Report on Form 10-K for the year ending December 31, 2019.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following combined discussion is separately filed by DTE Energy and DTE Electric. However, DTE Electric does not make any representations as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.

EXECUTIVE OVERVIEW

DTE Energy is a diversified energy company and is the parent company of DTE Electric and DTE Gas, regulated electric and natural gas utilities engaged primarily in the business of providing electricity and natural gas sales, distribution, and storage services throughout Michigan. DTE Energy operates three energy-related non-utility segments with operations throughout the United States.

The following table summarizes DTE Energy's financial results:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions, except per share amounts)
Net Income Attributable to DTE Energy Company	$	319	$	334	$	902	$	929
Diluted Earnings per Common Share	$	1.73	$	1.84	$	4.91	$	5.13

The decrease in Net Income for the third quarter was primarily due to lower earnings in the Gas, Gas Storage and Pipelines, and Power and Industrial Projects segments, partially offset by higher earnings in the Electric and Corporate and Other segments. The decrease in Net Income for the nine-month period was primarily due to lower earnings in the Electric, Gas Storage and Pipelines, and Power and Industrial Projects segments, partially offset by higher earnings in the Gas and Corporate and Other segments.

Please see detailed explanations of segment performance in the following "Results of Operations" section.

DTE Energy's strategy is to achieve long-term earnings growth, a strong balance sheet, and an attractive dividend yield.

DTE Energy's utilities are investing capital to improve customer reliability through investments in base infrastructure and new generation, and to comply with environmental requirements. DTE Energy expects that planned significant capital investments will result in earnings growth. DTE Energy is focused on executing plans to achieve operational excellence and customer satisfaction with a focus on customer affordability. DTE Energy operates in a constructive regulatory environment and has solid relationships with its regulators.

59

In March 2019, DTE Energy announced updated plans for accelerating its reduction of carbon emissions to 32% by the early 2020s, at least 50% by 2030, and 80% by 2040 from the 2005 carbon emissions levels. In September 2019, DTE Energy expanded on its commitment by announcing a net zero carbon emissions goal by 2050 for DTE Electric. To achieve the reduction goals in the near term, DTE Energy will transition away from coal-powered sources and incorporate more renewable energy, energy waste reduction projects, demand response, and natural gas fueled generation. DTE Energy has already begun the transition in the way it produces power through the continued retirement of its aging coal-fired plants. Refer to the "Capital Investments" section below for further discussion.

DTE Energy has significant investments in non-utility businesses. DTE Energy employs disciplined investment criteria when assessing growth opportunities that leverage its assets, skills, and expertise, and provides diversity in earnings and geography. Specifically, DTE Energy invests in targeted energy markets with attractive competitive dynamics where meaningful scale is in alignment with its risk profile. DTE Energy expects growth opportunities in the Gas Storage and Pipelines and Power and Industrial Projects segments.

A key priority for DTE Energy is to maintain a strong balance sheet which facilitates access to capital markets and reasonably priced short-term and long-term financing. Near-term growth will be funded through internally generated cash flows and the issuance of debt and equity. DTE Energy has an enterprise risk management program that, among other things, is designed to monitor and manage exposure to earnings and cash flow volatility related to commodity price changes, interest rates, and counterparty credit risk.

CAPITAL INVESTMENTS

DTE Energy's utility businesses require significant capital investments to maintain and improve the electric generation and electric and natural gas distribution infrastructure and to comply with environmental regulations and renewable energy requirements.

DTE Electric's capital investments over the 2019-2023 period are estimated at $11.3 billion comprised of $4.0 billion for capital replacements and other projects, $4.6 billion for distribution infrastructure, and $2.7 billion for new generation. DTE Electric has retired five coal-fired generation units at the Trenton Channel, River Rouge, and St. Clair facilities and has announced plans to retire its remaining twelve coal-fired generating units. Six of these coal-fired generating units will be retired through 2022 at the Trenton Channel, River Rouge, and St. Clair facilities. The remaining coal-fired generating units at the Belle River and Monroe facilities are expected to be retired by 2040. The retired facilities will be replaced with renewables, energy waste reduction, demand response, and natural gas fueled generation.

DTE Gas' capital investments over the 2019-2023 period are estimated at $2.5 billion comprised of $1.2 billion for base infrastructure, and $1.3 billion for gas main renewal, meter move out, and pipeline integrity programs. DTE Gas plans to seek regulatory approval for capital expenditures consistent with ratemaking treatment.

DTE Energy's non-utility businesses' capital investments are primarily for expansion, growth, and ongoing maintenance. Gas Storage and Pipelines' capital investments over the 2019-2023 period are estimated at $4.0 billion to $5.0 billion for gathering and pipeline investments and expansions. Power and Industrial Projects' capital investments over the 2019-2023 period are estimated at $1.0 billion to $1.4 billion for industrial energy services and RNG projects.

ENVIRONMENTAL MATTERS

The Registrants are subject to extensive environmental regulations. Additional costs may result as the effects of various substances on the environment are studied and governmental regulations are developed and implemented. Actual costs to comply could vary substantially. The Registrants expect to continue recovering environmental costs related to utility operations through rates charged to customers, as authorized by the MPSC.

Increased costs for energy produced from traditional coal-based sources due to recent, pending, and future regulatory initiatives, could also increase the economic viability of energy produced from renewable, natural gas fueled generation, and/or nuclear sources, energy waste reduction initiatives, and the potential development of market-based trading of carbon instruments which could provide new business opportunities for DTE Energy's utility and non-utility segments. At the present time, it is not possible to quantify the financial impacts of these climate related regulatory initiatives on the Registrants or their customers.

For further discussion of environmental matters, see Note 13 to the Consolidated Financial Statements, "Commitments and Contingencies."

60

OUTLOOK

The next few years will be a period of rapid change for DTE Energy and for the energy industry. DTE Energy's strong utility base, combined with its integrated non-utility operations, position it well for long-term growth.

Looking forward, DTE Energy will focus on several areas that are expected to improve future performance:

• electric and gas customer satisfaction;

• electric distribution system reliability;

• new electric generation;

• gas distribution system renewal;

• rate competitiveness and affordability;

• regulatory stability and investment recovery for the electric and gas utilities;

• employee safety and engagement;

• cost structure optimization across all business segments;

• cash, capital, and liquidity to maintain or improve financial strength; and

• investments that integrate assets and leverage skills and expertise.

DTE Energy will continue to pursue opportunities to grow its businesses in a disciplined manner if it can secure opportunities that meet its strategic, financial, and risk criteria.

RESULTS OF OPERATIONS

Management’s Discussion and Analysis of Financial Condition and Results of Operations includes financial information prepared in accordance with GAAP, as well as the non-GAAP financial measures, Utility Margin and Non-utility Margin, discussed below, which DTE Energy uses as measures of its operational performance. Generally, a non-GAAP financial measure is a numerical measure of financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP.

DTE Energy uses Utility Margin and Non-utility Margin, non-GAAP financial measures, to assess its performance by reportable segment.

Utility Margin includes electric and gas Operating Revenues net of Fuel, purchased power, and gas expenses. The utilities’ fuel, purchased power, and natural gas supply are passed through to customers, and therefore, result in changes to the utilities’ revenues that are comparable to changes in such expenses. As such, DTE Energy believes Utility Margin provides a meaningful basis for evaluating the utilities’ operations across periods, as it excludes the revenue effect of fluctuations in these expenses.

The Non-utility Margin relates to the Power and Industrial Projects and Energy Trading segments. For the Power and Industrial Projects segment, Non-utility Margin primarily includes Operating Revenues net of Fuel, purchased power, and gas expenses. Operating Revenues include sales of refined coal to third parties and the affiliated Electric utility, metallurgical coke and related by-products, petroleum coke, renewable natural gas, and electricity, as well as rental income and revenues from utility-type consulting, management, and operational services. For the Energy Trading segment, Non-utility Margin includes revenue and realized and unrealized gains and losses from physical and financial power and gas marketing, optimization, and trading activities, net of Purchased power and gas related to these activities. DTE Energy evaluates its operating performance of these non-utility businesses using the measure of Operating Revenues net of Fuel, purchased power, and gas expenses.

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Utility Margin and Non-utility Margin are not measures calculated in accordance with GAAP and should be viewed as a supplement to and not a substitute for the results of operations presented in accordance with GAAP. Utility Margin and Non-utility Margin do not intend to represent operating income, the most comparable GAAP measure, as an indicator of operating performance and are not necessarily comparable to similarly titled measures reported by other companies.

The following sections provide a detailed discussion of the operating performance and future outlook of DTE Energy's segments. Segment information, described below, includes intercompany revenues and expenses, and other income and deductions that are eliminated in the Consolidated Financial Statements.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment
Electric	$	307		$	305		$	587		$	608
Gas	(38		)	(30		)	121			88
Gas Storage and Pipelines	60			66			158			188
Power and Industrial Projects	49			58			104			146
Energy Trading	(14		)	(13		)	12			13
Corporate and Other	(45		)	(52		)	(80		)	(114		)
Net Income Attributable to DTE Energy Company	$	319		$	334		$	902		$	929

ELECTRIC

The Results of Operations discussion for DTE Electric is presented in a reduced disclosure format in accordance with General Instruction H(2) of Form 10-Q.

The Electric segment consists principally of DTE Electric. Electric results are discussed below:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Operating Revenues — Utility operations	$	1,520	$	1,521	$	3,945	$	4,002
Fuel and purchased power — utility	399		438		1,067		1,163
Utility Margin	1,121		1,083		2,878		2,839
Operation and maintenance	351		352		1,033		1,001
Depreciation and amortization	244		201		694		615
Taxes other than income	80		77		233		232
Asset (gains) losses and impairments, net	—		—		13		—
Operating Income	446		453		905		991
Other (Income) and Deductions	80		67		205		211
Income Tax Expense	59		81		113		172
Net Income Attributable to DTE Energy Company	$	307	$	305	$	587	$	608

See DTE Electric's Consolidated Statements of Operations for a complete view of its results. Differences between the Electric segment and DTE Electric's Consolidated Statements of Operations are primarily due to the classification of certain benefit costs. Refer to Note 14 to the Consolidated Financial Statements, "Retirement Benefits and Trusteed Assets" for additional information.

Utility Margin increased $38 million and $39 million in the three and nine months ended September 30, 2019, respectively. Revenues associated with certain mechanisms and surcharges are offset by related expenses elsewhere in the Registrants' Consolidated Statements of Operations.

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The following table details changes in various Utility Margin components relative to the comparable prior period:

	Three Months			Nine Months
	(In millions)
Implementation of new rates	$	69		$	114
Base sales	(3		)	(7		)
Regulatory mechanism — TRM	1			(7		)
Weather	(48		)	(101		)
Regulatory mechanisms and other	19			40
Increase in Utility Margin	$	38		$	39

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019	2018	2019	2018
	(In thousands of MWh)
DTE Electric Sales
Residential	4,682	5,028	11,579	12,387
Commercial	4,802	4,836	12,947	13,218
Industrial	2,555	2,641	7,513	7,893
Other	51	49	162	157
	12,090	12,554	32,201	33,655
Interconnection sales(a)	784	629	2,525	2,523
Total DTE Electric Sales	12,874	13,183	34,726	36,178
DTE Electric Deliveries
Retail and wholesale	12,090	12,554	32,201	33,655
Electric retail access, including self-generators(b)	1,282	1,277	3,516	3,634
Total DTE Electric Sales and Deliveries	13,372	13,831	35,717	37,289

______________________________

(a) Represents power that is not distributed by DTE Electric.

(b) Represents deliveries for self-generators that have purchased power from alternative energy suppliers to supplement their power requirements.

Operation and maintenance expense decreased $1 million and increased $32 million in the three and nine months ended September 30, 2019, respectively. The decrease in the third quarter was primarily due to increased distribution operations expense of $10 million and increased generation expense of $3 million, offset by lower uncollectible expense of $7 million and insurance proceeds of $6 million received in 2019 relating to a 2016 fire at a generation facility. The increase in the nine-month period was primarily due to increased distribution operations expense of $20 million and increased generation expense of $5 million.

Depreciation and amortization expense increased $43 million and $79 million in the three and nine months ended September 30, 2019, respectively. The increase in the third quarter was primarily due to a $44 million increase resulting from a higher depreciable base and change in depreciation rates effective in May 2019. The increase in the nine-month period was primarily due to a $91 million increase resulting from a higher depreciable base and change in depreciation rates effective in May 2019, partially offset by a decrease of $9 million associated with the TRM.

Asset (gains) losses and impairments, net increased $13 million for the nine months ended September 30, 2019. The increase was due to previously recorded capital expenditures of $13 million that were disallowed in the May 2, 2019 rate order.

Other (Income) and Deductions increased $13 million and decreased $6 million in the three and nine months ended September 30, 2019, respectively. The increase in the third quarter was primarily due to increased debt expense of $7 million and lower investment earnings of $1 million. The decrease in the nine-month period was primarily due to increased investment earnings of $24 million and lower non-operating retirement benefits of $9 million, partially offset by increased debt expense of $24 million.

Income Tax Expense decreased $22 million and $59 million in the three and nine months ended September 30, 2019, respectively. The decrease in the third quarter was primarily due to lower earnings and amortization of the TCJA regulatory liability. The decrease in the nine-month period was primarily due to lower earnings, amortization of the TCJA regulatory liability, and $7 million of true-up adjustments for the remeasurement of deferred tax assets and liabilities in 2018.

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Outlook — DTE Electric will continue to move forward in its efforts to achieve operational excellence, sustain strong cash flows, and earn its authorized return on equity. DTE Electric expects that planned significant capital investments will result in earnings growth. DTE Electric will maintain a strong focus on customers by increasing reliability and satisfaction while keeping customer rate increases affordable. Looking forward, additional factors may impact earnings such as weather, the outcome of regulatory proceedings, benefit plan design changes, investment returns and changes in discount rate assumptions in benefit plans and health care costs, uncertainty of legislative or regulatory actions regarding climate change, and effects of energy waste reduction programs.

DTE Electric filed a rate case with the MPSC on July 8, 2019 requesting an increase in base rates of $351 million based on a projected twelve-month period ending April 30, 2021. The requested increase in base rates is primarily due to an increase in net plant resulting from infrastructure and generation investments. The rate filing also requests an increase in return on equity from 10.0% to 10.5% and includes projected changes in sales and operating and maintenance expenses. A final MPSC order in this case is expected by May 2020. Refer to Note 6 to the Consolidated Financial Statements, "Regulatory Matters" for additional information.

GAS

The Gas segment consists principally of DTE Gas. Gas results are discussed below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019		2018
	(In millions)
Operating Revenues — Utility operations	$	155		$	164		$	1,043	$	969
Cost of gas — utility	3			18			287		291
Utility Margin	152			146			756		678
Operation and maintenance	130			124			376		357
Depreciation and amortization	37			32			106		95
Taxes other than income	17			15			60		54
Operating Income (Loss)	(32		)	(25		)	214		172
Other (Income) and Deductions	19			12			52		39
Income Tax Expense (Benefit)	(13		)	(7		)	41		45
Net Income (Loss) Attributable to DTE Energy Company	$	(38	)	$	(30	)	$	121	$	88

Utility Margin increased $6 million and $78 million in the three and nine months ended September 30, 2019, respectively. Revenues associated with certain mechanisms and surcharges are offset by related expenses elsewhere in DTE Energy's Consolidated Statements of Operations.

The following table details changes in various Utility Margin components relative to the comparable prior period:

	Three Months			Nine Months
	(In millions)
Implementation of new rates	$	4		$	33
Midstream storage and transportation revenues	6			19
Weather	(2		)	12
Regulatory mechanism — RDM	—			4
TCJA rate reduction liability	—			2
Other regulatory mechanisms and other	(2		)	8
Increase in Utility Margin	$	6		$	78

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	Three Months Ended September 30,		Nine Months Ended September 30,
	2019	2018	2019	2018
	(In Bcf)
Gas Markets
Gas sales	7	8	95	91
End-user transportation	41	34	137	138
	48	42	232	229
Intermediate transportation	132	78	365	212
Total Gas sales	180	120	597	441

Operation and maintenance expense increased $6 million and $19 million in the three and nine months ended September 30, 2019, respectively. The increase in the third quarter was primarily due to higher gas operations expense of $6 million. The increase in the nine-month period was primarily due to higher gas operations expense of $14 million and energy waste reduction expense of $3 million.

Depreciation and amortization expense increased $5 million and $11 million in the three and nine months ended September 30, 2019, respectively. The increase in both periods was primarily due to higher depreciable base.

Other (Income) and Deductions increased $7 million and $13 million in the three and nine months ended September 30, 2019, respectively. The increase in the third quarter was primarily due to higher interest expense of $3 million and lower AFUDC earnings of $2 million The increase in the nine-month period was primarily due to higher interest expense of $8 million and lower AFUDC earnings of $4 million.

Income Tax Expense (Benefit) decreased $6 million and $4 million in the three and nine months ended September 30, 2019. The decrease in the third quarter was primarily due to lower earnings. The decrease in the nine-month period was primarily due to $10 million of true-up adjustments for the remeasurement of deferred tax assets and liabilities in 2018, partially offset by higher earnings.

Outlook — DTE Gas will continue to move forward in its efforts to achieve operational excellence, sustain strong cash flows, and earn its authorized return on equity. DTE Gas expects that planned significant infrastructure capital investments will result in earnings growth. Looking forward, additional factors may impact earnings such as weather, the outcome of regulatory proceedings, benefit plan design changes, and investment returns and changes in discount rate assumptions in benefit plans and health care costs. DTE Gas expects to continue its efforts to improve productivity and decrease costs while improving customer satisfaction with consideration of customer rate affordability.

GAS STORAGE AND PIPELINES

The Gas Storage and Pipelines segment consists of the non-utility gas pipelines and storage businesses. Gas Storage and Pipelines results are discussed below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Operating Revenues — Non-utility operations	$	126		$	122		$	363		$	363
Cost of gas — Non-utility	9			6			10			19
Operation and maintenance	26			25			76			71
Depreciation and amortization	22			22			66			61
Taxes other than income	1			2			6			7
Asset (gains) losses and impairments, net	1			1			1			(1		)
Operating Income	67			66			204			206
Other (Income) and Deductions	(17		)	(23		)	(26		)	(56		)
Income Tax Expense	21			16			58			52
Net Income	63			73			172			210
Less: Net Income Attributable to Noncontrolling Interests	3			7			14			22
Net Income Attributable to DTE Energy Company	$	60		$	66		$	158		$	188

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Operating Revenues — Non-utility operations increased $4 million in the three months ended September 30, 2019. The increase was primarily due to higher gathering revenue and higher physical sales of gas from AGS customers for resale to optimize available transportation capacity, partially offset by lower storage revenue. For the nine months ended September 30, 2019, revenue increased due to higher pipeline and gathering revenue, which was offset by lower physical sales of gas from AGS customers and lower storage revenue.

Cost of gas — Non-utility increased $3 million and decreased $9 million in the three and nine months ended September 30, 2019, respectively. The change in both periods was primarily due to physical purchases of gas from AGS customers.

Other (Income) and Deductions decreased $6 million and $30 million in the three and nine months ended September 30, 2019, respectively. The decrease in both periods was primarily due to decreased earnings from pipeline investments.

Net Income Attributable to Noncontrolling Interests decreased $4 million and $8 million in the three and nine months ended September 30, 2019, respectively. The decrease in both periods was primarily due to the acquisition of an additional 30% ownership interest in SGG in 2019.

Outlook — During October 2019, DTE Energy entered into an agreement with Momentum Midstream and Indigo Natural Resources to purchase midstream natural gas assets in support of its strategy to continue to grow and earn competitive returns for shareholders. The agreement calls for DTE Energy to acquire 100 percent of M5 Louisiana Gathering, LLC and its wholly owned subsidiaries which provide natural gas gathering and other midstream services to producers, primarily in Louisiana. The acquisition has an estimated purchase price of $2.65 billion and is expected to close in December 2019, subject to customary closing conditions. The purchase price includes $2.25 billion to be paid in cash upon closing, plus an estimated $400 million milestone payment upon completion of a gathering pipeline in the second half of 2020. These assets will be a part of DTE Energy’s non-utility Gas Storage and Pipelines business. See Note 16 to the Consolidated Financial Statements, “Subsequent Event”, for more information on the acquisition.

DTE Energy believes its long-term agreements with producers and the quality of the natural gas reserves in the Marcellus/Utica and Haynesville shale regions soundly position the business for future growth.

Gas Storage and Pipelines expects to maintain its steady growth by developing an asset portfolio with multiple growth platforms through investment in new projects and expansions. Gas Storage and Pipelines will continue to look for additional investment opportunities and other gathering, transportation, and storage projects.

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POWER AND INDUSTRIAL PROJECTS

The Power and Industrial Projects segment is comprised primarily of projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers, produce reduced emissions fuel, and sell electricity and pipeline-quality gas from renewable energy projects. Power and Industrial Projects results are discussed below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Operating Revenues — Non-utility operations	$	406		$	612		$	1,196		$	1,717
Fuel, purchased power, and gas — non-utility	321			532			945			1,494
Non-utility Margin	85			80			251			223
Operation and maintenance	77			88			241			260
Depreciation and amortization	17			17			51			50
Taxes other than income	2			3			8			10
Asset (gains) losses and impairments, net	—			9			—			9
Operating Loss	(11		)	(37		)	(49		)	(106		)
Other (Income) and Deductions	(39		)	(27		)	(92		)	(68		)
Income Taxes
Expense (Benefit)	9			(1		)	15			(3		)
Production Tax Credits	(25		)	(61		)	(64		)	(152		)
	(16		)	(62		)	(49		)	(155		)
Net Income	44			52			92			117
Less: Net Loss Attributable to Noncontrolling Interests	(5		)	(6		)	(12		)	(29		)
Net Income Attributable to DTE Energy Company	$	49		$	58		$	104		$	146

Operating Revenues — Non-utility operations decreased $206 million and $521 million in the three and nine months ended September 30, 2019, respectively. The decrease in both periods was due to the following:

	Three Months			Nine Months
	(In millions)
Higher prices in the Steel business	$	8		$	16
Expired contract in the Renewables business	(4		)	(7		)
Lower revenue due to sale of membership interests in three projects and project terminations in the REF business	(204		)	(534		)
Other	(6		)	4
	$	(206	)	$	(521	)

Non-utility Margin increased $5 million and $28 million in the three and nine months ended September 30, 2019, respectively. The following table details changes in Non-utility margin relative to the comparable prior periods:

	Three Months			Nine Months
	(In millions)
Higher due to sale of membership interests in three projects and project terminations in the REF business	$	8		$	19
Higher prices in the Steel business	4			11
Expired contract in the Renewables business	(4		)	(7		)
Other	(3		)	5
	$	5		$	28

Operation and maintenance expense decreased $11 million and $19 million in the three and nine months ended September 30, 2019, respectively. The decrease in the third quarter was primarily due to the sale of membership interests in the REF business. The decrease in the nine-month period was primarily due to $32 million associated with the sale of membership interests in the REF business, partially offset by $7 million higher maintenance spending in the Steel business and $4 million higher spending for renewable natural gas projects.

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Asset (gains) losses and impairments, net increased $9 million in the three and nine months ended September 30, 2019. The increase was primarily due to asset impairments recorded in 2018 related to the Renewables business.

Other (Income) and Deductions increased $12 million and $24 million in the three and nine months ended September 30, 2019, respectively. The increases in the third quarter and nine-month period were primarily due to the sale of membership interests in the REF business.

Income Taxes — Production Tax Credits decreased $36 million and $88 million in the three and nine months ended September 30, 2019, respectively. The decreases in the third quarter and nine-month period were primarily due to sale of membership interests in the REF business.

Net Loss Attributable to Noncontrolling Interests decreased $1 million and $17 million in the three and nine months ended September 30, 2019, respectively. The decreases in the third quarter and nine-month period were primarily due to sale of membership interests in the REF business.

Outlook — Power and Industrial Projects will continue to leverage its extensive energy-related operating experience and project management capability to develop additional energy projects to serve energy intensive industrial customers in addition to optimizing the REF facilities until the phase out at the end of 2021.

ENERGY TRADING

Energy Trading focuses on physical and financial power and natural gas marketing and trading, structured transactions, enhancement of returns from its asset portfolio, and optimization of contracted natural gas pipeline transportation and storage positions. Energy Trading also provides natural gas, power, and related services, which may include the management of associated storage and transportation contracts on the customers' behalf, and the supply or purchase of renewable energy credits to various customers. Energy Trading results are discussed below:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019		2018
	(In millions)
Operating Revenues — Non-utility operations	$	1,105		$	1,332		$	3,519	$	3,994
Purchased power and gas — non-utility	1,101			1,328			3,436		3,913
Non-utility Margin	4			4			83		81
Operation and maintenance	18			19			54		53
Depreciation and amortization	2			1			5		4
Taxes other than income	1			1			4		4
Operating Income (Loss)	(17		)	(17		)	20		20
Other (Income) and Deductions	1			1			3		3
Income Tax Expense (Benefit)	(4		)	(5		)	5		4
Net Income (Loss) Attributable to DTE Energy Company	$	(14	)	$	(13	)	$	12	$	13

Operating Revenues — Non-utility operations decreased $227 million and $475 million in the three and nine months ended September 30, 2019, respectively. The decreases in the third quarter and the nine-month period were primarily due to a decrease in gas prices, primarily in the gas structured and transportation strategies.

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Non-utility Margin had no change in the third quarter and increased $2 million in the nine months ended September 30, 2019. The following tables detail changes in Non-utility margin relative to the comparable prior periods:

	Three Months
	(In millions)
Unrealized Margins(a)
Favorable results, primarily in gas structured and power trading strategies(b)	$	9
Unfavorable results, primarily in gas trading and gas transportation strategies	(13		)
	(4		)
Realized Margins(a)
Favorable results, primarily in the power full requirements strategy	20
Unfavorable results, primarily in the gas structured strategy(c)	(16		)
	4
Decrease in Non-utility Margin	$	—

_______________________________________

(a) 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.

(b) Amount includes $4 million of timing related gains related to gas strategies which will reverse in future periods as the underlying contracts settle.

(c) Amount includes $10 million of timing related gains related to gas strategies recognized in previous periods that reversed as the underlying contracts settled.

	Nine Months
	(In millions)
Unrealized Margins(a)
Favorable results, primarily in gas structured and gas transportation strategies(b)	$	69
Unfavorable results, primarily in gas trading and power full requirements strategies	(13		)
	56
Realized Margins(a)
Favorable results, primarily in power full requirements and gas transportation strategies	46
Unfavorable results, primarily in gas structured and gas storage strategies(c)	(100		)
	(54		)
Increase in Non-utility Margin	$	2

_______________________________________

(a) 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.

(b) Amount includes $66 million of timing related gains related to gas strategies which will reverse in future periods as the underlying contracts settle.

(c) Amount includes $62 million of timing related gains related to gas strategies recognized in previous periods that reversed as the underlying contracts settled.

Outlook — In the near-term, Energy Trading expects market conditions to remain challenging, and the profitability of this segment may be impacted by the volatility in commodity prices and the uncertainty of impacts associated with regulatory changes, and changes in operating rules of Regional Transmission Organizations. Significant portions of the Energy Trading portfolio are economically hedged. Most financial instruments and physical power and natural gas contracts are deemed derivatives, whereas natural gas inventory, pipeline transportation, renewable energy credits, and storage assets are not derivatives. As a result, Energy Trading will experience earnings volatility as derivatives are marked-to-market without revaluing the underlying non-derivative contracts and assets. Energy Trading's strategy is to economically manage the price risk of these underlying non-derivative contracts and assets with futures, forwards, swaps, and options. This results in gains and losses that are recognized in different interim and annual accounting periods.

See also the "Fair Value" section herein and Notes 8 and 9 to the Consolidated Financial Statements, "Fair Value" and "Financial and Other Derivative Instruments," respectively.

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CORPORATE AND OTHER

Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds energy-related investments. The net loss of $45 million and $80 million for the three and nine months ended September 30, 2019, respectively, represents a decrease of $7 million and $34 million from the net losses of $52 million and $114 million in the comparable 2018 period. The net loss decrease in the third quarter was primarily due to the impact of one-time tax items, including the $20 million valuation allowance for the AMT credit carryover in 2018. This decrease was partially offset by effective income tax rate adjustments and higher interest expense in 2019. For the nine-month period, the net loss decrease was primarily due to the impact of one-time tax items, including the $20 million valuation allowance for the AMT credit carryover in 2018. This decrease was also due to effective income tax rate adjustments, partially offset by higher interest expense in 2019.

CAPITAL RESOURCES AND LIQUIDITY

Cash Requirements

DTE Energy uses cash to maintain and invest in the electric and natural gas utilities, to grow the non-utility businesses, to retire and pay interest on long-term debt, and to pay dividends. DTE Energy believes it will have sufficient internal and external capital resources to fund anticipated capital and operating requirements. DTE Energy expects that cash from operations in 2019 will be approximately $2.7 billion. DTE Energy anticipates base level utility capital investments, including environmental, renewable, and energy waste reduction expenditures; expenditures for non-utility businesses; and contributions to equity method investees in 2019 of approximately $5.9 billion. DTE Energy plans to seek regulatory approval to include utility capital expenditures in regulatory rate base consistent with prior treatment. Capital spending for growth of existing or new non-utility businesses will depend on the existence of opportunities that meet strict risk-return and value creation criteria.

	Nine Months Ended September 30,
	2019			2018
	(in millions)
Cash, Cash Equivalents, and Restricted Cash, Beginning	$	76		$	89
Net cash from operating activities	1,901			2,047
Net cash used for investing activities	(2,558		)	(2,336		)
Net cash from financing activities	657			304
Net Increase in Cash, Cash Equivalents, and Restricted Cash	—			15
Cash, Cash Equivalents, and Restricted Cash, Ending	$	76		$	104

Cash from Operating Activities

A majority of DTE Energy's operating cash flows are provided by the electric and natural gas utilities, which are significantly influenced by factors such as weather, electric retail access, regulatory deferrals, regulatory outcomes, economic conditions, changes in working capital, and operating costs.

Net cash from operations decreased by $146 million in 2019 due primarily to a decrease in cash from working capital items, partially offset by an increase in Deferred income taxes and Depreciation and amortization.

The change in working capital items in 2019 was primarily related to an increase in cash used for Accounts payable and Other current and noncurrent assets and liabilities, partially offset by an increase in cash relating to Accounts receivable and accrued pension and postretirement liabilities.

Cash used for Investing Activities

Cash inflows associated with investing activities are primarily generated from the sale of assets, while cash outflows are the result of plant and equipment expenditures. In any given year, DTE Energy looks to realize cash from under-performing or non-strategic assets or matured, fully valued assets.

Capital spending within the utility businesses is primarily to maintain and improve electric generation and the electric and natural gas distribution infrastructure, and to comply with environmental regulations and renewable energy requirements.

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Capital spending within the non-utility businesses is primarily for ongoing maintenance, expansion, and growth. DTE Energy looks to make growth investments that meet strict criteria in terms of strategy, management skills, risks, and returns. All new investments are analyzed for their rates of return and cash payback on a risk adjusted basis. DTE Energy has been disciplined in how it deploys capital and will not make investments unless they meet the criteria. For new business lines, DTE Energy initially invests based on research and analysis. DTE Energy starts with a limited investment, evaluates the results, and either expands or exits the business based on those results. In any given year, the amount of growth capital will be determined by the underlying cash flows of DTE Energy, with a clear understanding of any potential impact on its credit ratings.

Net cash used for investing activities increased by $222 million in 2019 due primarily to an increase in Plant and equipment expenditures — utility and new acquisitions, partially offset by a decrease in Contributions to equity method investees.

Cash from Financing Activities

DTE Energy relies on both short-term borrowing and long-term financing as a source of funding for capital requirements not satisfied by its operations.

DTE Energy's strategy is to have a targeted debt portfolio blend of fixed and variable interest rates and maturity. DTE Energy targets balance sheet financial metrics to ensure it is consistent with the objective of a strong investment grade debt rating.

Net cash from financing activities increased by $353 million in 2019 due primarily to an increase in Short-term borrowings, partially offset by Purchases of noncontrolling interest, principally related to SGG.

Outlook

DTE Energy expects cash flows from operations to increase over the long-term, primarily as a result of growth from the utility and non-utility businesses. Growth in the utilities is expected to be driven primarily by capital spending which will increase the base from which rates are determined. Non-utility growth is expected from additional investments, primarily in the Gas Storage and Pipelines and Power and Industrial Projects segments.

DTE Energy may be impacted by the timing of collection or refund of various recovery and tracking mechanisms, as a result of timing of MPSC orders. Energy prices are likely to be a source of volatility with regard to working capital requirements for the foreseeable future. DTE Energy continues its efforts to identify opportunities to improve cash flows through working capital initiatives and maintaining flexibility in the timing and extent of long-term capital projects.

DTE Energy has approximately $1.2 billion in long-term debt, including finance leases, maturing in the next twelve months. The repayment of the debt is expected to be paid through internally generated funds or the issuance of long-term debt.

DTE Energy has approximately $1.7 billion of available liquidity at September 30, 2019, consisting of cash and amounts available under unsecured revolving credit agreements.

DTE Energy expects to issue equity up to $200 million in 2019 through the pension and other employee benefit plans, which is exclusive from any amounts related to the Equity Units described in Note 14 to the Consolidated Financial Statements, "Long-Term Debt," within the combined DTE Energy and DTE Electric 2018 Annual Report on Form 10-K. For contribution amounts related to pension plans, refer to Note 14 of the Consolidated Financial Statements, "Retirement Benefits and Trusteed Assets."

In conjunction with the acquisition of midstream natural gas assets as described in Note 16 to the Consolidated Financial Statements, "Subsequent Event," DTE Energy expects to issue an additional $300 million of equity in the fourth quarter 2019. Refer to Note 16 for additional information regarding the subsequent event.

71

Various subsidiaries and equity investees of DTE Energy have entered into contracts which contain ratings triggers and are guaranteed by DTE Energy. These contracts contain provisions which allow the counterparties to require that DTE Energy post cash or letters of credit as collateral in the event that DTE Energy's credit rating is downgraded below investment grade. Certain of these provisions (known as "hard triggers") state specific circumstances under which DTE Energy can be required to post collateral upon the occurrence of a credit downgrade, while other provisions (known as "soft triggers") are not as specific. For contracts with soft triggers, it is difficult to estimate the amount of collateral which may be requested by counterparties and/or which DTE Energy may ultimately be required to post. The amount of such collateral which could be requested fluctuates based on commodity prices (primarily natural gas, power, and coal) and the provisions and maturities of the underlying transactions. As of September 30, 2019, DTE Energy's contractual obligation to post collateral in the form of cash or letters of credit in the event of a downgrade to below investment grade, under both hard trigger and soft trigger provisions, was $517 million.

DTE Energy believes it will have sufficient operating flexibility, cash resources, and funding sources to maintain adequate amounts of liquidity and to meet future operating cash and capital expenditure needs. However, virtually all of DTE Energy's businesses are capital intensive, or require access to capital, and the inability to access adequate capital could adversely impact earnings and cash flows.

See Notes 6, 10, 11, 13, and 14 to the Consolidated Financial Statements, "Regulatory Matters," "Long-Term Debt," "Short-Term Credit Arrangements and Borrowings," "Commitments and Contingencies," and "Retirement Benefits and Trusteed Assets," respectively.

NEW ACCOUNTING PRONOUNCEMENTS

See Note 3 to the Consolidated Financial Statements, "New Accounting Pronouncements."

FAIR VALUE

Derivatives are generally recorded at fair value and shown as Derivative assets or liabilities. Contracts DTE Energy typically classifies as derivative instruments include power, natural gas, oil, and certain coal forwards, futures, options and swaps, and foreign currency exchange contracts. Items DTE Energy does not generally account for as derivatives include natural gas inventory, pipeline transportation contracts, renewable energy credits, and storage assets. See Notes 8 and 9 to the Consolidated Financial Statements, "Fair Value" and "Financial and Other Derivative Instruments," respectively.

The tables below do not include the expected earnings impact of non-derivative natural gas storage, transportation, certain power contracts, and renewable energy credits which are subject to accrual accounting. Consequently, gains and losses from these positions may not match with the related physical and financial hedging instruments in some reporting periods, resulting in volatility in the Registrants' reported period-by-period earnings; however, the financial impact of the timing differences will reverse at the time of physical delivery and/or settlement.

The Registrants manage their MTM risk on a portfolio basis based upon the delivery period of their contracts and the individual components of the risks within each contract. Accordingly, the Registrants record and manage the energy purchase and sale obligations under their contracts in separate components based on the commodity (e.g. electricity or natural gas), the product (e.g. electricity for delivery during peak or off-peak hours), the delivery location (e.g. by region), the risk profile (e.g. forward or option), and the delivery period (e.g. by month and year).

The Registrants have established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). For further discussion of the fair value hierarchy, see Note 8 to the Consolidated Financial Statements, "Fair Value."

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The following table provides details on changes in DTE Energy's MTM net asset (or liability) position:

	DTE Energy
	(In millions)
MTM at December 31, 2018	$	(23	)
Reclassified to realized upon settlement	(36		)
Changes in fair value recorded to income	5
Amounts recorded to unrealized income	(31		)
Changes in fair value recorded in regulatory liabilities	3
Amounts recorded in other comprehensive income, pretax	3
Change in collateral	17
MTM at September 30, 2019	$	(31	)

The table below shows the maturity of DTE Energy's MTM positions. The positions from 2022 and beyond principally represent longer tenor gas structured transactions:

Source of Fair Value	2019			2020			2021			2022 and Beyond			Total Fair Value
	(In millions)
Level 1	$	(10	)	$	(6	)	$	(5	)	$	(2	)	$	(23	)
Level 2	4			8			3			5			20
Level 3	(6		)	11			1			(34		)	(28		)
MTM before collateral adjustments	$	(12	)	$	13		$	(1	)	$	(31	)	(31		)
Collateral adjustments													—
MTM at September 30, 2019													$	(31	)

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

Market Price Risk

The Electric and Gas businesses have commodity price risk, primarily related to the purchases of coal, natural gas, uranium, and electricity. However, the Registrants do not bear significant exposure to earnings risk, as such changes are included in the PSCR and GCR regulatory rate-recovery mechanisms. In addition, changes in the price of natural gas can impact the valuation of lost and stolen gas, storage sales, and transportation services revenue at the Gas segment. The Gas segment manages its market price risk related to storage sales revenue primarily through the sale of long-term storage contracts. The Registrants are exposed to short-term cash flow or liquidity risk as a result of the time differential between actual cash settlements and regulatory rate recovery.

DTE Energy's Gas Storage and Pipelines segment has exposure to natural gas price fluctuations which impact the pricing for natural gas storage, gathering, and transportation. DTE Energy manages its exposure through the use of short, medium, and long-term storage, gathering, and transportation contracts.

DTE Energy's Power and Industrial Projects business segment is subject to electricity, natural gas, and coal product price risk. DTE Energy manages its exposure to commodity price risk through the use of long-term contracts.

DTE Energy's Energy Trading business segment has exposure to electricity, natural gas, coal, crude oil, heating oil, and foreign currency exchange price fluctuations. These risks are managed by the energy marketing and trading operations through the use of forward energy, capacity, storage, options, and futures contracts, within pre-determined risk parameters.

Credit Risk

Bankruptcies

DTE Energy's Power and Industrial Projects segment holds ownership interests in, and operates, five generating plants that sell electric output from renewable sources under long-term power purchase agreements with PG&E. PG&E filed for Chapter 11 bankruptcy protection on January 29, 2019. As of September 30, 2019, PG&E's account is substantially current and outstanding accounts receivable from PG&E are not material. Therefore, DTE Energy determined no reserve was necessary.

As of September 30, 2019, the book value of long-lived assets used in producing electric output for sale to PG&E was approximately $102 million. The Power and Industrial Projects segment also has equity investments, including a note receivable, of approximately $72 million in entities that sell power to PG&E. In January 2019, following the bankruptcy filing, DTE Energy performed an impairment analysis on its long-lived assets. Based on its undiscounted cash flow projections, DTE Energy determined it did not have an impairment loss as of December 31, 2018. DTE Energy also determined there was not an other-than-temporary decline in its equity investments. There were no other new events occurring during the nine months ended September 30, 2019, that would negatively impact the assumptions made within the December 31, 2018 impairment analysis. Therefore, no triggering events were identified. DTE Energy's assumptions and conclusions may change, and it could have impairment losses if any of the terms of the contracts are not honored by PG&E or the contracts are rejected through the bankruptcy process.

Other

The Registrants regularly review contingent matters relating to customers and their contracts and record provisions for amounts considered at risk of probable loss in the allowance for doubtful accounts. The Registrants believe their accrued amounts are adequate for probable loss.

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Trading Activities

DTE Energy is exposed to credit risk through trading activities. Credit risk is the potential loss that may result if the trading counterparties fail to meet their contractual obligations. DTE Energy utilizes both external and internal credit assessments when determining the credit quality of trading counterparties.

The following table displays the credit quality of DTE Energy's trading counterparties as of September 30, 2019:

	Credit Exposure Before Cash Collateral		Cash Collateral			Net Credit Exposure
	(In millions)
Investment Grade(a)
A- and Greater	$	226	$	—		$	226
BBB+ and BBB	298		—			298
BBB-	33		—			33
Total Investment Grade	557		—			557
Non-investment grade(b)	4		—			4
Internally Rated — investment grade(c)	283		(1		)	282
Internally Rated — non-investment grade(d)	29		(1		)	28
Total	$	873	$	(2	)	$	871

_______________________________________

(a) This category includes counterparties with minimum credit ratings of Baa3 assigned by Moody’s Investors Service (Moody’s) or BBB-assigned by Standard & Poor’s Rating Group, a division of McGraw-Hill Companies, Inc. (Standard & Poor’s). The five largest counterparty exposures, combined, for this category represented 19% of the total gross credit exposure.

(b) This category includes counterparties with credit ratings that are below investment grade. The five largest counterparty exposures, combined, for this category represented 1% of the total gross credit exposure.

(c) This category includes counterparties that have not been rated by Moody’s or Standard & Poor’s but are considered investment grade based on DTE Energy’s evaluation of the counterparty’s creditworthiness. The five largest counterparty exposures, combined, for this category represented 12% of the total gross credit exposure.

(d) This category includes counterparties that have not been rated by Moody’s or Standard & Poor’s and are considered non-investment grade based on DTE Energy’s evaluation of the counterparty’s creditworthiness. The five largest counterparty exposures, combined, for this category represented 1% of the total gross credit exposure.

Other

The Registrants engage in business with customers that are non-investment grade. The Registrants closely monitor the credit ratings of these customers and, when deemed necessary and permitted under the tariffs, request collateral or guarantees from such customers to secure their obligations.

Interest Rate Risk

DTE Energy is subject to interest rate risk in connection with the issuance of debt. In order to manage interest costs, DTE Energy may use treasury locks and interest rate swap agreements. DTE Energy's exposure to interest rate risk arises primarily from changes in U.S. Treasury rates, commercial paper rates, and London Inter-Bank Offered Rates (LIBOR). As of September 30, 2019, DTE Energy had a floating rate debt-to-total debt ratio of 4.57%.

Foreign Currency Exchange Risk

DTE Energy has foreign currency exchange risk arising from market price fluctuations associated with fixed priced contracts. These contracts are denominated in Canadian dollars and are primarily for the purchase and sale of natural gas and power, as well as for long-term transportation capacity. To limit DTE Energy's exposure to foreign currency exchange fluctuations, DTE Energy has entered into a series of foreign currency exchange forward contracts through December 2023.

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Summary of Sensitivity Analyses

Sensitivity analyses were performed on the fair values of commodity contracts for DTE Energy and long-term debt obligations for the Registrants. The commodity contracts listed below principally relate to energy marketing and trading activities. The sensitivity analyses involved increasing and decreasing forward prices and rates at September 30, 2019 and 2018 by a hypothetical 10% and calculating the resulting change in the fair values.

The results of the sensitivity analyses:

	Assuming a 10% Increase in Prices/Rates						Assuming a 10% Decrease in Prices/Rates
	As of September 30,						As of September 30,
Activity	2019			2018			2019			2018			Change in the Fair Value of
	(In millions)
Gas contracts	$	5		$	(7	)	$	(5	)	$	9		Commodity contracts
Power contracts	$	1		$	8		$	(2	)	$	(11	)	Commodity contracts
Interest rate risk — DTE Energy	$	(547	)	$	(618	)	$	572		$	649		Long-term debt
Interest rate risk — DTE Electric	$	(287	)	$	(282	)	$	306		$	304		Long-term debt

For further discussion of market risk, see Note 9 to the Consolidated Financial Statements, "Financial and Other Derivative Instruments."

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Item 4. Controls and Procedures

DTE Energy

(a) Evaluation of disclosure controls and procedures

Management of DTE Energy carried out an evaluation, under the supervision and with the participation of DTE Energy's Chief Executive Officer (CEO) and Chief Financial Officer (CFO), of the effectiveness of the design and operation of DTE Energy's disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of September 30, 2019, which is the end of the period covered by this report. Based on this evaluation, DTE Energy's CEO and CFO have concluded that such disclosure controls and procedures are effective in providing reasonable assurance that information required to be disclosed by DTE Energy in reports that it files or submits under the Exchange Act (i) is recorded, processed, summarized, and reported within the time periods specified in the U.S. Securities and Exchange Commission's rules and forms and (ii) is accumulated and communicated to DTE Energy's management, including its CEO and CFO, as appropriate to allow timely decisions regarding required disclosure. Due to the inherent limitations in the effectiveness of any disclosure controls and procedures, management cannot provide absolute assurance that the objectives of its disclosure controls and procedures will be attained.

(b) Changes in internal control over financial reporting

There have been no changes in DTE Energy's internal control over financial reporting during the quarter ended September 30, 2019 that have materially affected, or are reasonably likely to materially affect, DTE Energy's internal control over financial reporting.

DTE Electric

(a) Evaluation of disclosure controls and procedures

Management of DTE Electric carried out an evaluation, under the supervision and with the participation of DTE Electric's Chief Executive Officer (CEO) and Chief Financial Officer (CFO), of the effectiveness of the design and operation of DTE Electric's disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of September 30, 2019, which is the end of the period covered by this report. Based on this evaluation, DTE Electric's CEO and CFO have concluded that such disclosure controls and procedures are effective in providing reasonable assurance that information required to be disclosed by DTE Electric in reports that it files or submits under the Exchange Act (i) is recorded, processed, summarized, and reported within the time periods specified in the U.S. Securities and Exchange Commission's rules and forms and (ii) is accumulated and communicated to DTE Electric's management, including its CEO and CFO, as appropriate to allow timely decisions regarding required disclosure. Due to the inherent limitations in the effectiveness of any disclosure controls and procedures, management cannot provide absolute assurance that the objectives of its disclosure controls and procedures will be attained.

(b) Changes in internal control over financial reporting

There have been no changes in DTE Electric's internal control over financial reporting during the quarter ended September 30, 2019 that have materially affected, or are reasonably likely to materially affect, DTE Electric's internal control over financial reporting.

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Part II — Other Information

Item 1. Legal Proceedings

For information on legal proceedings and matters related to the Registrants, see Notes 6 and 13 to the Consolidated Financial Statements, "Regulatory Matters" and "Commitments and Contingencies," respectively.

Item 1A. Risk Factors

There are various risks associated with the operations of the Registrants' businesses. To provide a framework to understand the operating environment of the Registrants, a brief explanation of the more significant risks associated with the Registrants' businesses is provided in Part 1, Item 1A. Risk Factors in DTE Energy's and DTE Electric's combined 2018 Annual Report on Form 10-K. Although the Registrants have tried to identify and discuss key risk factors, others could emerge in the future.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Purchases of DTE Energy Equity Securities by the Issuer and Affiliated Purchasers

The following table provides information about DTE Energy purchases of equity securities that are registered by DTE Energy pursuant to Section 12 of the Exchange Act of 1934 for the quarter ended September 30, 2019:

	Number of Shares Purchased(a)	Average Price Paid per Share(a)		Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Average Price Paid per Share	Maximum Dollar Value that May Yet Be Purchased Under the Plans or Programs
07/01/2019 — 07/31/2019	1,192	$	127.88	—	—	—
08/01/2019 — 08/31/2019	5,203	$	113.95	—	—	—
09/01/2019 — 09/30/2019	1,000	$	110.79	—	—	—
Total	7,395			—

_______________________________________

(a) Represents shares of common stock withheld to satisfy income tax obligations upon the vesting of restricted stock based on the price in effect at the grant date.

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Item 6. Exhibits

Exhibit Number	Description	DTE Energy	DTE Electric
	(i) Exhibits filed herewith:
4.307	Fiftieth Supplemental Indenture dated as of October 1, 2019, to Indenture Mortgage and Deed of Trust, dated as of March 1, 1944, between DTE Gas Company and Citibank, N.A. trustee. (2019 Series D and E)	X
31.169	Chief Executive Officer Section 302 Form 10-Q Certification of Periodic Report	X
31.170	Chief Financial Officer Section 302 Form 10-Q Certification of Periodic Report	X
31.171	Chief Executive Officer Section 302 Form 10-Q Certification of Periodic Report		X
31.172	Chief Financial Officer Section 302 Form 10-Q Certification of Periodic Report		X
101.INS	XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.	X	X
101.SCH	XBRL Taxonomy Extension Schema	X	X
101.CAL	XBRL Taxonomy Extension Calculation Linkbase	X	X
101.DEF	XBRL Taxonomy Extension Definition Database	X	X
101.LAB	XBRL Taxonomy Extension Label Linkbase	X	X
101.PRE	XBRL Taxonomy Extension Presentation Linkbase	X	X
	(ii) Exhibits furnished herewith:
32.169	Chief Executive Officer Section 906 Form 10-Q Certification of Periodic Report	X
32.170	Chief Financial Officer Section 906 Form 10-Q Certification of Periodic Report	X
32.171	Chief Executive Officer Section 906 Form 10-Q Certification of Periodic Report		X
32.172	Chief Financial Officer Section 906 Form 10-Q Certification of Periodic Report		X

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized. The signature for each undersigned Registrant shall be deemed to relate only to matters having reference to such Registrant and any subsidiaries thereof.

Date:	October 28, 2019
			DTE ENERGY COMPANY
		By:	/S/ MARK C. ROLLING
			Mark C. Rolling Vice President, Controller, and Chief Accounting Officer
			(Duly Authorized Officer)
			DTE ELECTRIC COMPANY
		By:	/S/ MARK C. ROLLING
			Mark C. Rolling Vice President, Controller, and Chief Accounting Officer
			(Duly Authorized Officer)

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EX-4.307

EXHIBIT 4.307

FIFTIETH

SUPPLEMENTAL INDENTURE

TO    

INDENTURE OF MORTGAGE AND

DEED OF TRUST

DATED AS OF MARCH 1, 1944

AS RESTATED IN

PART II OF THE TWENTY-NINTH

SUPPLEMENTAL INDENTURE DATED AS OF JULY 15, 1989

WHICH BECAME EFFECTIVE ON APRIL 1, 1994

DTE GAS COMPANY

formerly known as

Michigan Consolidated Gas Company

TO

CITIBANK, N.A.,

TRUSTEE

DATED AS OF OCTOBER 1, 2019

CREATING TWO ISSUES OF FIRST MORTGAGE BONDS,

DESIGNATED AS

2019 SERIES D BONDS

2019 SERIES E BONDS

DTE GAS COMPANY

FIFTIETH SUPPLEMENTAL INDENTURE

DATED AS OF OCTOBER 1, 2019

SUPPLEMENTAL TO INDENTURE OF MORTGAGE

AND DEED OF TRUST

DATED AS OF MARCH 1, 1944

TABLE OF CONTENTS

PAGE

ARTICLE I ESTABLISHMENT OF AN ISSUE OF FIRST MORTGAGE BONDS, OF THE SERIES DESIGNATED AND DISTINGUISHED AS “2019 SERIES D BONDS”    5

SECTION 15

SECTION 25

SECTION 37

SECTION 414

SECTION 515

ARTICLE II ESTABLISHMENT OF AN ISSUE OF FIRST MORTGAGE BONDS, OF THE SERIES DESIGNATED AND DISTINGUISHED AS “2019 SERIES E BONDS”    16

SECTION 116

SECTION 216

SECTION 318

SECTION 425

SECTION 526

ARTICLE III ISSUE OF BONDS27

ARTICLE IV THE TRUSTEE27

ARTICLE V RECORDING AND FILING OF SUPPLEMENTAL INDENTURE DATED AS OF AUGUST 1, 2018    27

ARTICLE VI RECORDING OF AFFIDAVIT OF FACTS AFFECTING REAL PROPERTY    30

ARTICLE VII MISCELLANEOUS PROVISIONS30

THIS FIFTIETH SUPPLEMENTAL INDENTURE, dated as of the 1st day of October, 2019, between DTE GAS COMPANY, formerly known as Michigan Consolidated Gas Company, a corporation duly organized and existing under and by virtue of the laws of the State of Michigan (hereinafter called the “Company”), having its principal place of business at One Energy Plaza, Detroit, Michigan, 48226 and CITIBANK, N.A., a national banking association incorporated and existing under and by virtue of the laws of the United States of America, having an office at 388 Greenwich Street in the Borough of Manhattan, the City of New York, New York, 10013 as successor trustee (hereinafter with its predecessors as trustee called the “Mortgage Trustee” or the “Trustee”):

WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture of Mortgage and Deed of Trust (the “Original Indenture”), dated as of March 1, 1944;

WHEREAS, the Company has heretofore executed and delivered to the Trustee the Twenty-ninth Supplemental Indenture, which became effective April 1, 1994, to provide for the modification and restatement of the Original Indenture as previously amended (as so amended, supplemented and modified the “Indenture”), and to secure the Company's First Mortgage Bonds, unlimited in aggregate principal amount except as therein otherwise provided, issued pursuant to the:

Thirtieth Supplemental Indenture, dated as of September 1, 1991;

Thirty-first Supplemental Indenture, dated as of December 15, 1991;

Thirty-second Supplemental Indenture, dated as of January 5, 1993;

Thirty-third Supplemental Indenture, dated as of May 1, 1995;

Thirty-fourth Supplemental Indenture, dated as of November 1, 1996;

Thirty-fifth Supplemental Indenture, dated as of June 18, 1998;

Thirty-sixth Supplemental Indenture, dated as of August 15, 2001;

Thirty-seventh Supplemental Indenture, dated as of February 15, 2003;

Thirty-eighth Supplemental Indenture, dated as of October 1, 2004;

Thirty-ninth Supplemental Indenture, dated as of April 1, 2008;

Fortieth Supplemental Indenture, dated as of June 1, 2008;

Forty-first Supplemental Indenture, dated as of August 1, 2008;

Forty-second Supplemental Indenture, dated as of December 1, 2008;

Forty-third Supplemental Indenture, dated as of December 1, 2012;

Forty-fourth Supplemental Indenture, dated as of December 1, 2013;

Forty-fifth Supplemental Indenture, dated as of December 1, 2014;

Forty-sixth Supplemental Indenture, dated as of August 1, 2015;

Forty-seventh Supplemental Indenture, dated as of December 1, 2016;

Forty-eighth Supplemental Indenture, dated as of September 1, 2017;

Forty-ninth Supplemental Indenture, dated as of August 1, 2018; and

WHEREAS, at the date hereof there were outstanding First Mortgage Bonds of the Company issued under the Indenture, of 17 series in the principal amounts set forth below (including Collateral Bonds):

Designation of Series	Amount Initially Issued		AmountOutstanding
First Mortgage Bonds
2012 Series D First Mortgage Bonds		$70,000,000		$70,000,000
2013 Series C First Mortgage Bonds		$50,000,000		$50,000,000
2013 Series D First Mortgage Bonds		$70,000,000		$70,000,000
2013 Series E First Mortgage Bonds		$50,000,000		$50,000,000
2014 Series F First Mortgage Bonds 2015 Series C First Mortgage Bonds 2015 Series D First Mortgage Bonds	$150,000,000 $40,000,000 $125,000,000		$150,000,000 $40,000,000 $125,000,000
2016 Series G First Mortgage Bonds		$125,000,000		$125,000,000
2017 Series C First Mortgage Bonds		$40,000,000		$40,000,000
2017 Series D First Mortgage Bonds 2018 Series B First Mortgage Bonds 2018 Series C First Mortgage Bonds	$40,000,000 $195,000,000 $125,000,000		$40,000,000 $195,000,000 $125,000,000
Collateral Bonds
(Senior Notes)
5.70% Collateral Bonds due 2033		$200,000,000		$200,000,000
2004 Series E Collateral Bonds		$120,000,000		$120,000,000
2008 Series C Collateral Bonds		$25,000,000		$25,000,000
2008 Series F Collateral Bonds		$75,000,000		$75,000,000
2008 Series I Collateral Bonds		$50,000,000		$50,000,000

WHEREAS, the Company desires in and by this Supplemental Indenture to establish two series of bonds to be issued under the Indenture designated and distinguished as 2019 Series D Bonds and 2019 Series E Bonds (herein collectively sometimes called the “Bonds”), to designate the terms thereof, to specify the particulars necessary to describe and define the same and to specify such other provisions and agreements in respect thereof as are in the Indenture provided or permitted; and

WHEREAS, all the conditions and requirements necessary to make this Supplemental Indenture, when duly executed and delivered, a valid, binding and legal instrument in accordance with its terms and for the purposes herein expressed, have been done, performed and fulfilled, and the execution and delivery of thisSupplemental Indenture in the form and with the terms hereof have been in all respects duly authorized;

NOW, THEREFORE, in consideration of the premises and in further consideration of the sum of One Dollar in lawful money of the United States of America paid to the Company by the Trustee at or before the execution and delivery of this Fiftieth Supplemental Indenture, the receipt whereof is hereby acknowledged, and of other good and valuable consideration, it is agreed by and between the Company and the Trustee as follows:

ARTICLE I ESTABLISHMENT OF AN ISSUE OF
FIRST MORTGAGE BONDS, OF THE SERIES
DESIGNATED AND DISTINGUISHED AS “2019 SERIES D BONDS”

SECTION 1

There is hereby established a series of bonds to be issued under and secured by the Indenture, to be known as “First Mortgage Bonds,” designated and distinguished as “2019 Series D Bonds” of the Company. The 2019 Series D Bonds shall be limited in aggregate principal amount to $140,000,000 except as provided in Article II of the Indenture and in this Supplemental Indenture with respect to transfers, exchanges and replacements of the 2019 Series D Bonds. The 2019 Series D Bonds shall be registered bonds without coupons and shall be dated as of the date of the authentication thereof by the Trustee.

The 2019 Series D Bonds shall mature on the 1st day of October, 2029 (subject to earlier redemption, as provided herein), shall bear interest at the rate of 2.95% per annum, payable semi-annually on the 1st day of April and October of each year and at maturity (each a “2019 Series D Interest Payment Date”), beginning on April 1, 2020. The principal, Make-Whole Amount (as defined below), if any, and interest on the 2019 Series D Bonds shall be payable in lawful money of the United States of America; the place where such principal and Make-Whole Amount, if any, shall be payable shall be the corporate trust office of the Trustee in the Borough of Manhattan, the City of New York, New York, and the place where such interest shall be payable shall be the office or agency of the Company in said Borough of Manhattan, the City of New York, New York. The 2019 Series D Bonds shall have such other terms as set forth in the form of 2019 Series D Bond provided in Section 3.

SECTION 2

The 2019 Series D Bonds shall be subject to redemption at the option of the Company, in whole at any time or in part from time to time (any such date of redemption, a “2019 Series D Redemption Date”), at the applicable redemption price (“2019 Series D Redemption Price”) set forth below.

At any time prior to July 1, 2029 (the “2019 Series D Par Call Date”), the 2019 Series D Redemption Price will be equal to 100% of the principal amount of the 2019 Series D Bonds to be redeemed on the 2019 Series D Redemption Date together with the Make-Whole Amount (as defined in the form of 2019 Series D Bond provided in Section 3), if any, plus, in each case, accrued and unpaid interest thereon to the 2019 Series D Redemption Date.

At any time on or after the 2019 Series D Par Call Date, the 2019 Series D Redemption Price will be equal to 100% of the principal amount of the bonds of 2019 Series D to be redeemed plus accrued and unpaid interest thereon to the redemption date.

Notwithstanding the foregoing, installments of interest on the 2019 Series D Bonds that are due and payable on 2019 Series D Interest Payment Dates falling on or prior to the 2019 Series D Redemption Date will be payable on the 2019 Series D Interest Payment Date to the registered holders as of the close of business on the relevant record date.

Notice of redemption shall be given to the holders of the 2019 Series D Bonds to be redeemed not more than 60 nor less than 30 days prior to the 2019 Series D Redemption Date, as provided in Section 4.05 of the Indenture. Each such notice shall specify such optional 2019 Series D Redemption Date, the aggregate principal amount of the 2019 Series D Bonds to be redeemed on such date, the principal amount of each 2019 Series D Bond held by such holder to be redeemed, and the interest to be paid on the 2019 Series D Redemption Date with respect to such principal amount being prepaid. In addition, if the 2019 Series D Redemption Date is prior to the 2019 Series D Par Call Date, each such notice shall be accompanied by a certificate of a senior financial officer of the Company as to the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date of such notice were the date of the redemption), setting forth the details of such computation. The Make-Whole Amount shall be determined by the Company two Business Days prior to the applicable 2019 Series D Redemption Date and the Company shall deliver to holders of the 2019 Series D Bonds and to the Trustee a certificate of a senior financial officer specifying the calculation of such Make-Whole Amount as of the 2019 Series D Redemption Date.

Subject to the limitations of Section 4.07 of the Indenture, the notice of redemption may state that it is subject to the receipt of the redemption moneys by the Trustee on or before the 2019 Series D Redemption Date, and that such notice shall be of no effect unless such moneys are so received on or before such date.

If the 2019 Series D Bonds are only partially redeemed by the Company, the Trustee shall select which 2019 Series D Bonds are to be redeemed pro rata among all of the 2019 Series D Bonds at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof and otherwise in accordance with the terms of the Indenture. In the event of redemption of the 2019 Series D Bonds in part only, a new 2019 Series D Bond or 2019 Series D Bonds for the unredeemed portion will be issued in the name or names of the holders thereof upon the surrender or cancellation thereof.

If money sufficient to pay the applicable 2019 Series D Redemption Price with respect to the 2019 Series D Bonds to be redeemed on the applicable 2019 Series D Redemption Date, together with accrued interest to the 2019 Series D Redemption Date, is deposited with the Trustee on or before the related 2019 Series D Redemption Date and certain other conditions are satisfied, then the 2019 Series D Bonds to be redeemed shall no longer be secured by, or entitled to any lien or benefit of, the Indenture as provided by Section 4.04 of the Indenture.

The 2019 Series D Bonds will not be entitled to any sinking fund and will not be redeemable other than as provided in this Section 2 and the form of 2019 Series D Bond provided in Section 3.

SECTION 3

The 2019 Series D Bonds shall be registered bonds without coupons. The Trustee shall be the registrar and paying agent for the 2019 Series D Bonds, which duties it hereby accepts. The 2019 Series D Bonds may be issued in minimum denominations of $100,000 or any integral multiple of $1,000 in excess thereof.

The forms of 2019 Series D Bonds shall be substantially as follows:

[FORM OF DTE GAS COMPANY 2.95% FIRST MORTGAGE BONDS 2019 SERIES D DUE 2029]

PPN:

No. R-___                        $_________________

THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES. IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE COMPANY AND THE TRUSTEE SUCH CERTIFICATES AND OTHER INFORMATION AS THE TRUSTEE MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

DTE GAS COMPANY

2.95% MORTGAGE BONDS

2019 SERIES D DUE 2029

Principal Amount: $____________

Authorized Denomination: $100,000 or any integral multiple of $1,000 in excess thereof.

Regular Record Date: close of business on the 15th calendar day (whether or not a Business Day) prior to the relevant Interest Payment Date

Original Issue Date: October 3, 2019

Stated Maturity: October 1, 2029

Interest Payment Dates: April 1 and October 1 of each year, beginning April 1, 2020.

Interest Rate: 2.95% per annum

DTE GAS COMPANY (hereinafter called the “Company”), a corporation of the State of Michigan, for value received, hereby promises to pay to ___________, or registered assigns, the sum of _________ Dollars ($_________) on the Stated Maturity specified above, in the coin or currency of the United States of America, and to pay interest thereon from the Original Issue Date specified above, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on each Interest Payment Date as specified above, commencing on April 1, 2020 and on the Stated Maturity at the Interest Rate per annum specified above until the principal hereof is paid or made available for payment, and on any overdue principal and Make-Whole Amount (defined below) and, to the extent lawful, on any overdue installment of interest. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the person in whose name this bond is registered at the close of business on the Regular Record Date as specified above next preceding such Interest Payment Date; provided that any interest payable at Stated Maturity or on a Redemption Date (defined below) will be paid to the person to whom principal is payable. Except as otherwise provided in the Indenture, any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the holder on such Regular Record Date and may either be paid to the person in whose name this bond is registered at the close of business on a special record date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to holders of bonds of this series not less than 10 days prior to such special record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the bonds of this series shall be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Indenture.

Payments of interest on this bond will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for this bond shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. The Company shall pay interest on overdue principal and Make-Whole Amount, if any, and, to the extent lawful, on overdue installments of interest at the rate per annum borne by this bond. In the event that any Interest Payment Date, Redemption Date or Stated Maturity is not a Business Day, then the required payment of principal, Make-Whole Amount, if any, and interest will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay). “Business Day” means any day other than a day on which banking institutions in the State of New York or the State of Michigan are authorized or obligated pursuant to law or executive order to close.

Payment of principal of, Make-Whole Amount, if any, and interest on the bonds of this series shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal, Make-Whole Amount, if any, and interest due at the Stated Maturity or earlier redemption of such bonds shall be made at the office of the Trustee upon surrender of such bonds to the Trustee, and payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the address of the person entitled thereto as such address shall appear in the bond register of the Trustee maintained for such purpose or (B) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least fourteen (14) days prior to the date for payment by the person entitled thereto. Notwithstanding the foregoing, so long as any bond is held by an Institutional Investor (as defined in the Bond Purchase Agreement referenced below), payment of principal, Make-Whole Amount, if any, and interest on the bonds held by such holder shall be made in the manner specified in the Bond Purchase Agreement dated as of October 3, 2019 among the Company and the purchasers party thereto.

The bonds represented by this certificate, of the series hereinafter specified, are bonds of the Company (herein called the “bonds”) known as its “First Mortgage Bonds,” issued and to be issued in one or more series under, and all equally and ratably secured by, an Indenture of Mortgage and Deed of Trust dated as of March 1, 1944, duly executed by the Company to Citibank, N.A., successor trustee (“Trustee”), as restated in Part II of the Twenty-ninth Supplemental Indenture dated as of July 15, 1989, which became effective on April 1, 1994, to which indenture and all indentures supplemental thereto executed on and after July 15, 1989 reference is hereby made for a description of the property mortgaged and pledged, the nature and extent of the security, the terms and conditions upon which the bonds are, and are to be, issued and secured, and the rights of the holders of the bonds and of the Trustee in respect of such security (which indenture and all indentures supplemental thereto, including the Fiftieth Supplemental Indenture dated as of October 1, 2019 referred to below, are hereinafter collectively called the “Indenture”). As provided in the Indenture, the bonds may be issued thereunder for various principal sums and are issuable in series, which may mature at different times, may bear interest at different rates and may otherwise vary as therein provided. The bonds represented by this certificate are part of a series designated “2.95% First Mortgage Bonds 2019 Series D” (herein called the “Bonds”), created by the Fiftieth Supplemental Indenture dated as of October 1, 2019 as provided for in said Indenture.

With the consent of the Company and to the extent permitted by and as provided in the Indenture, the rights and obligations of the Company, the rights and obligations of the holders of the Bonds, and the terms and provisions of the Indenture may be modified or altered by such affirmative vote or votes of the holders of the Bonds then outstanding as are specified in the Indenture.

In case an Event of Default as defined in the Indenture shall occur, the principal of the Bonds may become or be declared due and payable in the manner, with the effect, and subject to the conditions provided in the Indenture. Upon any such declaration, the Company shall also pay to the holders of the Bonds the Make-Whole Amount on the Bonds, if any, determined as of the date the Bonds shall have been declared due and payable.

No recourse shall be had for the payment of the principal of, Make-Whole Amount, if any, or the interest on, the Bonds, or for any claim based hereon or otherwise in respect of the Bonds or the Indenture, against any incorporator, stockholder, director or officer, past, present or future, of the Company, as such, or any predecessor or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability, whether at common law, in equity, by any constitution, statute or otherwise, of incorporators, stockholders, directors or officers being waived and released by the owner hereof by the acceptance of the Bonds, and as part of the consideration for the issue thereof, and being likewise waived and released pursuant to the Indenture and the Senior Indenture.

This Bond shall be subject to redemption at the option of the Company, in whole at any time or in part from time to time (any such date of optional redemption, a “Redemption Date”), at the applicable redemption price (“Redemption Price”) set forth below.

At any time prior to July 1, 2029 (the “Par Call Date”), the Redemption Price will be equal to 100% of the principal amount of the Bonds to be redeemed on the Redemption Date together with the Make-Whole Amount (as defined below), if any, plus, in each case, accrued and unpaid interest thereon to the Redemption Date.

At any time on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Bonds to be redeemed on the Redemption Date plus accrued and unpaid interest thereon to the Redemption Date.

Notwithstanding the foregoing, installments of interest on the Bonds that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant Record Date.

“Make-Whole Amount” means, with respect to any Bond, a premium in an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Bond over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. If the Settlement Date is prior to the Par Call Date, the Make-Whole Amount with respect to any Called Principal of a Bond shall be determined as if the Stated Maturity of such Bond were the Par Call Date; provided that the Make-Whole Amount shall in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings:

“Called Principal” means, with respect to a Bond, the principal of the Bond that is to be redeemed on a Redemption Date or has become or is declared to be immediately due and payable pursuant to Section 9.01 of the Indenture, as the context requires.

“Discounted Value” means, with respect to the Called Principal of a Bond, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Bond is payable) equal to the Reinvestment Yield with respect to such Called Principal.

“Reinvestment Yield” means, with respect to the Called Principal of a Bond, the sum of (a) 0.50% (50 basis points) plus (b) the yield to maturity implied by the “Ask Yield(s)” reported, as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX-1” (or such other display as may replace Page PX-1), on Bloomberg Financial Markets for the most recently issued, actively traded on-the-run, benchmark U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date.

If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between the “Ask Yields” Reported for the applicable most recently issued, actively traded on-the-run, U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than the Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond. If such yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Bond, the sum of (x) 0.50% (50 basis points) plus (y) the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (519) (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond.

“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the Stated Maturity (or, if redeemed prior to the Par Call Date, the Par Call Date) of such Remaining Scheduled Payment.

“Remaining Scheduled Payments” means, with respect to the Called Principal of a Bond, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its Stated Maturity (or, if redeemed prior to the Par Call Date, the Par Call Date), provided that if such Settlement Date is not a date on which interest payments are due to be made under the terms of the Bond, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date.

“Settlement Date” means, with respect to the Called Principal of a Bond, the Redemption Date on which such Called Principal is to be redeemed or has become or is declared to be immediately due and payable pursuant to Section 9.01 of the Indenture as the context requires.

Notice of redemption shall be given to the holders of the Bonds to be redeemed not more than 60 nor less than 30 days prior to the Redemption Date, as provided in Section 4.05 of the Indenture. Each such notice shall specify such Redemption Date, the aggregate principal amount of the Bonds to be redeemed on such date, the principal amount of each Bond held by such holder to be redeemed, and the interest to be paid on the Redemption Date with respect to such principal amount being prepaid. In addition, if the Redemption Date is prior to the Par Call Date, each such notice shall be accompanied by a certificate of a senior financial officer of the Company as to the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date of such notice were the date of the redemption), setting forth the details of such computation. The Make-Whole Amount shall be determined by the Company two Business Days prior to the applicable Redemption Date and the Company shall deliver to holders of the Bonds and to the Trustee a certificate of a senior financial officer specifying the calculation of such Make-Whole Amount as of the Redemption Date.

Subject to the limitations of Section 4.07 of the Indenture, the notice of redemption may state that it is subject to the receipt of the redemption moneys by the Trustee on or before the Redemption Date, and that such notice shall be of no effect unless such moneys are so received on or before such date; a notice of redemption so conditioned shall be of no force or effect if such money is not so received and, in such event, the Company shall not be required to redeem this Bond.

If the Bonds are only partially redeemed by the Company, the Trustee shall select which Bonds are to be redeemed pro rata among all of the Bonds at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof and otherwise in accordance with the terms of the Indenture. In the event of redemption of the Bonds in part only, a new Bond or Bonds for the unredeemed portion will be issued in the name or names of the holders thereof upon the surrender or cancellation thereof.

If money sufficient to pay the applicable Redemption Price with respect to the Bonds to be redeemed on the applicable Redemption Date, together with accrued interest to the Redemption Date, is deposited with the Trustee on or before the related Redemption Date and certain other conditions are satisfied, then the Bonds to be redeemed shall no longer be secured by, or entitled to any lien or benefit of, the Indenture as provided by Section 4.04 of the Indenture.

The Indenture contains terms, provisions and conditions relating to the consolidation or merger of the Company with or into, and the conveyance, or other transfer or lease, subject to the lien of the Indenture, of the trust estate to, another corporation, to the assumption by such other corporation, in certain circumstances, of the obligations of the Company under the Indenture and on the Bonds and to the succession of such other corporation in certain circumstances, to the powers and rights of the Company under the Indenture.

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Bonds or certain covenants with respect thereto upon compliance by the Company with certain conditions set forth therein.

This Bond shall not be valid or become obligatory for any purpose unless and until the certificate of authentication hereon shall have been manually executed by the Trustee or its successor in trust under the Indenture.

IN WITNESS WHEREOF, DTE GAS COMPANY has caused this certificate to be executed under its name with the signature of its duly authorized Officer, under its corporate seal, which may be a facsimile, attested with the signature of its Corporate Secretary.

Dated:

DTE GAS COMPANY

By:______________________________

Attest:

By:______________________

CERTIFICATE OF AUTHENTICATION

The bonds represented by this certificate constitute Bonds of the series designated and described in the within-mentioned Indenture.

CITIBANK, N.A., as Trustee

By:_________________________________

Authorized Officer

Dated:

[End of 2019 Series D Bond Form]

SECTION 4

Each certificate evidencing the 2019 Series D Bonds (and all 2019 Series D Bonds issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the legend only):

THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES. IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE COMPANY AND THE TRUSTEE SUCH CERTIFICATES AND OTHER INFORMATION AS THE TRUSTEE MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

The 2019 Series D Bonds shall be exchangeable upon surrender thereof at the corporate trust office of the Trustee in the Borough of Manhattan, the City of New York, New York, for registered bonds of the same aggregate principal amount and other terms, but of different authorized denomination or denominations, such exchanges to be made without service charge (except for any stamp tax or other governmental charge).

When 2019 Series D Bonds are presented to the Trustee with a request (i) to register the transfer of such 2019 Series D Bonds; or (ii) to exchange such 2019 Series D Bonds for 2019 Series D Bonds of the same series of any authorized denominations of the same aggregate principal amount and Stated Maturity, the Trustee shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the 2019 Series D Bonds surrendered for transfer or exchange: (A) shall be duly endorsed or be accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Trustee, duly executed by the holder thereof or his attorney duly authorized in writing; and (B) are accompanied by the following additional information and documents, as applicable: (x) if such 2019 Series D Bonds are being delivered to the Company by a holder for registration in the name of such holder, without transfer, a certification from such holder to that effect; or (y) if such 2019 Series D Bonds are being transferred to the Company, a certification to that effect; or (z) if such 2019 Series D Bonds are being transferred pursuant to an exemption from registration in accordance with Rule 144 under the Securities Act or in reliance upon another exemption from the registration requirements of the Securities Act, (i) a certification to that effect and (ii) if the Company so requests, other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the legend set forth above.

Every 2019 Series D Bond so surrendered shall be accompanied by a proper transfer power duly executed by the registered owner or by a duly authorized attorney transferring such 2019 Series D Bond to the Company, and the signature to such transfer power shall be guaranteed to the satisfaction of the Trustee. All 2019 Series D Bonds so surrendered shall be forthwith canceled and delivered to or upon the order of the Company. All 2019 Series D Bonds executed, authenticated and delivered in exchange for 2019 Series D Bonds so surrendered shall be valid obligations of the Company, evidencing the same debt as the 2019 Series D Bonds surrendered, and shall be secured by the same lien and be entitled to the same benefits and protection as the 2019 Series D Bonds in exchange for which they are executed, authenticated and delivered.

The Company shall not be required to make any such exchange or any registration of transfer after the 2019 Series D Bond so presented for exchange or registration of transfer, or any portion thereof, has been called for redemption and notice thereof given to the registered owner.

SECTION 5

Pending the preparation of definitive 2019 Series D Bonds, the Company may from time to time execute, and upon its written order, the Trustee shall authenticate and deliver, in lieu of such definitive 2019 Series D Bonds and subject to the same provisions, limitations and conditions, one or more temporary 2019 Series D Bonds, in registered form, of any denomination specified in the written order of the Company for the authentication and delivery thereof, and with such omissions, insertions and variations as may be determined by the Board of Directors of the Company. Such temporary 2019 Series D Bonds shall be substantially of the tenor of the 2019 Series D Bonds to be issued as herein before recited.

If any such temporary 2019 Series D Bonds shall at any time be so authenticated and delivered in lieu of definitive 2019 Series D Bonds, the Company shall upon request at its own expense prepare, execute and deliver to the Trustee and thereupon, upon the presentation and surrender of temporary 2019 Series D Bonds, the Trustee shall authenticate and deliver in exchange therefor, without charge to the holder, definitive Bonds of the same series and other terms, if any, and for the same principal sum in the aggregate as the temporary 2019 Series D Bonds surrendered. All temporary 2019 Series D Bonds so surrendered shall be forthwith canceled by the Trustee and delivered to or upon the order of the Company. Until exchanged for definitive 2019 Series D Bonds the temporary 2019 Series D Bonds shall in all respects be entitled to the lien and security of the Indenture and all supplemental indentures.

ARTICLE II ESTABLISHMENT OF AN ISSUE OFFIRST MORTGAGE BONDS, OF THE SERIESDESIGNATED AND DISTINGUISHED AS “2019 SERIES E BONDS”

SECTION 1

There is hereby established a series of bonds to be issued under and secured by the Indenture, to be known as “First Mortgage Bonds,” designated and distinguished as “2019 Series E Bonds” of the Company. The 2019 Series E Bonds shall be limited in aggregate principal amount to $140,000,000 except as provided in Article II of the Indenture and in this Supplemental Indenture with respect to transfers, exchanges and replacements of the 2019 Series E Bonds. The 2019 Series E Bonds shall be registered bonds without coupons and shall be dated as of the date of the authentication thereof by the Trustee.

The 2019 Series E Bonds shall mature on the 1st day of October, 2049 (subject to earlier redemption, as provided herein), shall bear interest at the rate of 3.72% per annum, payable semi-annually on the 1st day of April and October of each year and at maturity (each a “2019 Series E Interest Payment Date”), beginning on April 1, 2020. The principal, Make-Whole Amount (as defined below), if any, and interest on the 2019 Series E Bonds shall be payable in lawful money of the United States of America; the place where such principal and Make-Whole Amount, if any, shall be payable shall be the corporate trust office of the Trustee in the Borough of Manhattan, the City of New York, New York, and the place where such interest shall be payable shall be the office or agency of the Company in said Borough of Manhattan, the City of New York, New York. The 2019 Series E Bonds shall have such other terms as set forth in the form of 2019 Series E Bond provided in Section 3.

SECTION 2

The 2019 Series E Bonds shall be subject to redemption at the option of the Company, in whole at any time or in part from time to time (any such date of redemption, a “2019 Series E Redemption Date”), at the applicable redemption price (“2019 Series E Redemption Price”) set forth below.

At any time prior to April 1, 2049 (the “2019 Series E Par Call Date”), the 2019 Series E Redemption Price will be equal to 100% of the principal amount of the 2019 Series E Bonds to be redeemed on the 2019 Series E Redemption Date together with the Make-Whole Amount (as defined in the form of 2019 Series E Bond provided in Section 3), if any, plus, in each case, accrued and unpaid interest thereon to the 2019 Series E Redemption Date.

At any time on or after the 2019 Series E Par Call Date, the 2019 Series E Redemption Price will be equal to 100% of the principal amount of the bonds of 2019 Series E to be redeemed plus accrued and unpaid interest thereon to the redemption date.

Notwithstanding the foregoing, installments of interest on the 2019 Series E Bonds that are due and payable on 2019 Series E Interest Payment Dates falling on or prior to the 2019 Series E Redemption Date will be payable on the 2019 Series E Interest Payment Date to the registered holders as of the close of business on the relevant record date.

Notice of redemption shall be given to the holders of the 2019 Series E Bonds to be redeemed not more than 60 nor less than 30 days prior to the 2019 Series E Redemption Date, as provided in Section 4.05 of the Indenture. Each such notice shall specify such optional 2019 Series E Redemption Date, the aggregate principal amount of the 2019 Series E Bonds to be redeemed on such date, the principal amount of each 2019 Series E Bond held by such holder to be redeemed, and the interest to be paid on the 2019 Series E Redemption Date with respect to such principal amount being prepaid. In addition, if the 2019 Series E Redemption Date is prior to the 2019 Series E Par Call Date, each such notice shall be accompanied by a certificate of a senior financial officer of the Company as to the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date of such notice were the date of the redemption), setting forth the details of such computation. The Make-Whole Amount shall be determined by the Company two Business Days prior to the applicable 2019 Series E Redemption Date and the Company shall deliver to holders of the 2019 Series E Bonds and to the Trustee a certificate of a senior financial officer specifying the calculation of such Make-Whole Amount as of the 2019 Series E Redemption Date.

Subject to the limitations of Section 4.07 of the Indenture, the notice of redemption may state that it is subject to the receipt of the redemption moneys by the Trustee on or before the 2019 Series E Redemption Date, and that such notice shall be of no effect unless such moneys are so received on or before such date.

If the 2019 Series E Bonds are only partially redeemed by the Company, the Trustee shall select which 2019 Series E Bonds are to be redeemed pro rata among all of the 2019 Series E Bonds at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof and otherwise in accordance with the terms of the Indenture. In the event of redemption of the 2019 Series E Bonds in part only, a new 2019 Series E Bond or 2019 Series E Bonds for the unredeemed portion will be issued in the name or names of the holders thereof upon the surrender or cancellation thereof.

If money sufficient to pay the applicable 2019 Series E Redemption Price with respect to the 2019 Series E Bonds to be redeemed on the applicable 2019 Series E Redemption Date, together with accrued interest to the 2019 Series E Redemption Date, is deposited with the Trustee on or before the related 2019 Series E Redemption Date and certain other conditions are satisfied, then the 2019 Series E Bonds to be redeemed shall no longer be secured by, or entitled to any lien or benefit of, the Indenture as provided by Section 4.04 of the Indenture.

The 2019 Series E Bonds will not be entitled to any sinking fund and will not be redeemable other than as provided in this Section 2 and the form of 2019 Series E Bond provided in Section 3.

SECTION 3

The 2019 Series E Bonds shall be registered bonds without coupons. The Trustee shall be the registrar and paying agent for the 2019 Series E Bonds, which duties it hereby accepts. The 2019 Series E Bonds may be issued in minimum denominations of $100,000 or any integral multiple of $1,000 in excess thereof.

The forms of 2019 Series E Bonds shall be substantially as follows:

[FORM OF DTE GAS COMPANY 3.72% FIRST MORTGAGE BONDS 2019 SERIES E DUE 2049]

PPN:

No. R-___                        $_________________

THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES. IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE COMPANY AND THE TRUSTEE SUCH CERTIFICATES AND OTHER INFORMATION AS THE TRUSTEE MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

DTE GAS COMPANY

3.72% MORTGAGE BONDS

2019 SERIES E DUE 2049

Principal Amount: $____________

Authorized Denomination: $100,000 or any integral multiple of $1,000 in excess thereof.

Regular Record Date: close of business on the 15th calendar day (whether or not a Business Day) prior to the relevant Interest Payment Date

Original Issue Date: October 3, 2019

Stated Maturity: October 1, 2049

Interest Payment Dates: April 1 and October 1 of each year, beginning April 1, 2020.

Interest Rate: 3.72% per annum

DTE GAS COMPANY (hereinafter called the “Company”), a corporation of the State of Michigan, for value received, hereby promises to pay to ____________, or registered assigns, the sum of ___________ Dollars ($_________) on the Stated Maturity specified above, in the coin or currency of the United States of America, and to pay interest thereon from the Original Issue Date specified above, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on each Interest Payment Date as specified above, commencing on April 1, 2020 and on the Stated Maturity at the Interest Rate per annum specified above until the principal hereof is paid or made available for payment, and on any overdue principal and Make-Whole Amount (defined below) and, to the extent lawful, on any overdue installment of interest. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the person in whose name this bond is registered at the close of business on the Regular Record Date as specified above next preceding such Interest Payment Date; provided that any interest payable at Stated Maturity or on a Redemption Date (defined below) will be paid to the person to whom principal is payable. Except as otherwise provided in the Indenture, any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the holder on such Regular Record Date and may either be paid to the person in whose name this bond is registered at the close of business on a special record date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to holders of bonds of this series not less than 10 days prior to such special record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the bonds of this series shall be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Indenture.

Payments of interest on this bond will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for this bond shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. The Company shall pay interest on overdue principal and Make-Whole Amount, if any, and, to the extent lawful, on overdue installments of interest at the rate per annum borne by this bond. In the event that any Interest Payment Date, Redemption Date or Stated Maturity is not a Business Day, then the required payment of principal, Make-Whole Amount, if any, and interest will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay). “Business Day” means any day other than a day on which banking institutions in the State of New York or the State of Michigan are authorized or obligated pursuant to law or executive order to close.

Payment of principal of, Make-Whole Amount, if any, and interest on the bonds of this series shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal, Make-Whole Amount, if any, and interest due at the Stated Maturity or earlier redemption of such bonds shall be made at the office of the Trustee upon surrender of such bonds to the Trustee, and payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the address of the person entitled thereto as such address shall appear in the bond register of the Trustee maintained for such purpose or (B) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least fourteen (14) days prior to the date for payment by the person entitled thereto. Notwithstanding the foregoing, so long as any bond is held by an Institutional Investor (as defined in the Bond Purchase Agreement referenced below), payment of principal, Make-Whole Amount, if any, and interest on the bonds held by such holder shall be made in the manner specified in the Bond Purchase Agreement dated as of October 3, 2019 among the Company and the purchasers party thereto.

The bonds represented by this certificate, of the series hereinafter specified, are bonds of the Company (herein called the “bonds”) known as its “First Mortgage Bonds,” issued and to be issued in one or more series under, and all equally and ratably secured by, an Indenture of Mortgage and Deed of Trust dated as of March 1, 1944, duly executed by the Company to Citibank, N.A., successor trustee (“Trustee”), as restated in Part II of the Twenty-ninth Supplemental Indenture dated as of July 15, 1989, which became effective on April 1, 1994, to which indenture and all indentures supplemental thereto executed on and after July 15, 1989 reference is hereby made for a description of the property mortgaged and pledged, the nature and extent of the security, the terms and conditions upon which the bonds are, and are to be, issued and secured, and the rights of the holders of the bonds and of the Trustee in respect of such security (which indenture and all indentures supplemental thereto, including the Fiftieth Supplemental Indenture dated as of October 1, 2019 referred to below, are hereinafter collectively called the “Indenture”). As provided in the Indenture, the bonds may be issued thereunder for various principal sums and are issuable in series, which may mature at different times, may bear interest at different rates and may otherwise vary as therein provided. The bonds represented by this certificate are part of a series designated “3.72% First Mortgage Bonds 2019 Series E” (herein called the “Bonds”), created by the Fiftieth Supplemental Indenture dated as of October 1, 2019 as provided for in said Indenture.

With the consent of the Company and to the extent permitted by and as provided in the Indenture, the rights and obligations of the Company, the rights and obligations of the holders of the Bonds, and the terms and provisions of the Indenture may be modified or altered by such affirmative vote or votes of the holders of the Bonds then outstanding as are specified in the Indenture.

In case an Event of Default as defined in the Indenture shall occur, the principal of the Bonds may become or be declared due and payable in the manner, with the effect, and subject to the conditions provided in the Indenture. Upon any such declaration, the Company shall also pay to the holders of the Bonds the Make-Whole Amount on the Bonds, if any, determined as of the date the Bonds shall have been declared due and payable.

No recourse shall be had for the payment of the principal of, Make-Whole Amount, if any, or the interest on, the Bonds, or for any claim based hereon or otherwise in respect of the Bonds or the Indenture, against any incorporator, stockholder, director or officer, past, present or future, of the Company, as such, or any predecessor or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability, whether at common law, in equity, by any constitution, statute or otherwise, of incorporators, stockholders, directors or officers being waived and released by the owner hereof by the acceptance of the Bonds, and as part of the consideration for the issue thereof, and being likewise waived and released pursuant to the Indenture and the Senior Indenture.

This Bond shall be subject to redemption at the option of the Company, in whole at any time or in part from time to time (any such date of optional redemption, a “Redemption Date”), at the applicable redemption price (“Redemption Price”) set forth below.

At any time prior to April 1, 2049 (the “Par Call Date”), the Redemption Price will be equal to 100% of the principal amount of the Bonds to be redeemed on the Redemption Date together with the Make-Whole Amount (as defined below), if any, plus, in each case, accrued and unpaid interest thereon to the Redemption Date.

At any time on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Bonds to be redeemed on the Redemption Date plus accrued and unpaid interest thereon to the Redemption Date.

Notwithstanding the foregoing, installments of interest on the Bonds that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant Record Date.

“Make-Whole Amount” means, with respect to any Bond, a premium in an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Bond over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. If the Settlement Date is prior to the Par Call Date, the Make-Whole Amount with respect to any Called Principal of a Bond shall be determined as if the Stated Maturity of such Bond were the Par Call Date; provided that the Make-Whole Amount shall in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings:

“Called Principal” means, with respect to a Bond, the principal of the Bond that is to be redeemed on a Redemption Date or has become or is declared to be immediately due and payable pursuant to Section 9.01 of the Indenture, as the context requires.

“Discounted Value” means, with respect to the Called Principal of a Bond, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Bond is payable) equal to the Reinvestment Yield with respect to such Called Principal.

“Reinvestment Yield” means, with respect to the Called Principal of a Bond, the sum of (a) 0.50% (50 basis points) plus (b) the yield to maturity implied by the “Ask Yield(s)” reported, as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX-1” (or such other display as may replace Page PX-1), on Bloomberg Financial Markets for the most recently issued, actively traded on-the-run, benchmark U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date.

If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between the “Ask Yields” Reported for the applicable most recently issued, actively traded on-the-run, U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than the Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond. If such yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Bond, the sum of (x) 0.50% (50 basis points) plus (y) the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (519) (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Bond.

“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the Stated Maturity (or, if redeemed prior to the Par Call Date, the Par Call Date) of such Remaining Scheduled Payment.

“Remaining Scheduled Payments” means, with respect to the Called Principal of a Bond, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its Stated Maturity (or, if redeemed prior to the Par Call Date, the Par Call Date), provided that if such Settlement Date is not a date on which interest payments are due to be made under the terms of the Bond, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date.

“Settlement Date” means, with respect to the Called Principal of a Bond, the Redemption Date on which such Called Principal is to be redeemed or has become or is declared to be immediately due and payable pursuant to Section 9.01 of the Indenture as the context requires.

Notice of redemption shall be given to the holders of the Bonds to be redeemed not more than 60 nor less than 30 days prior to the Redemption Date, as provided in Section 4.05 of the Indenture. Each such notice shall specify such Redemption Date, the aggregate principal amount of the Bonds to be redeemed on such date, the principal amount of each Bond held by such holder to be redeemed, and the interest to be paid on the Redemption Date with respect to such principal amount being prepaid. In addition, if the Redemption Date is prior to the Par Call Date, each such notice shall be accompanied by a certificate of a senior financial officer of the Company as to the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date of such notice were the date of the redemption), setting forth the details of such computation. The Make-Whole Amount shall be determined by the Company two Business Days prior to the applicable Redemption Date and the Company shall deliver to holders of the Bonds and to the Trustee a certificate of a senior financial officer specifying the calculation of such Make-Whole Amount as of the Redemption Date.

Subject to the limitations of Section 4.07 of the Indenture, the notice of redemption may state that it is subject to the receipt of the redemption moneys by the Trustee on or before the Redemption Date, and that such notice shall be of no effect unless such moneys are so received on or before such date; a notice of redemption so conditioned shall be of no force or effect if such money is not so received and, in such event, the Company shall not be required to redeem this Bond.

If the Bonds are only partially redeemed by the Company, the Trustee shall select which Bonds are to be redeemed pro rata among all of the Bonds at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof and otherwise in accordance with the terms of the Indenture. In the event of redemption of the Bonds in part only, a new Bond or Bonds for the unredeemed portion will be issued in the name or names of the holders thereof upon the surrender or cancellation thereof.

If money sufficient to pay the applicable Redemption Price with respect to the Bonds to be redeemed on the applicable Redemption Date, together with accrued interest to the Redemption Date, is deposited with the Trustee on or before the related Redemption Date and certain other conditions are satisfied, then the Bonds to be redeemed shall no longer be secured by, or entitled to any lien or benefit of, the Indenture as provided by Section 4.04 of the Indenture.

The Indenture contains terms, provisions and conditions relating to the consolidation or merger of the Company with or into, and the conveyance, or other transfer or lease, subject to the lien of the Indenture, of the trust estate to, another corporation, to the assumption by such other corporation, in certain circumstances, of the obligations of the Company under the Indenture and on the Bonds and to the succession of such other corporation in certain circumstances, to the powers and rights of the Company under the Indenture.

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Bonds or certain covenants with respect thereto upon compliance by the Company with certain conditions set forth therein.

This Bond shall not be valid or become obligatory for any purpose unless and until the certificate of authentication hereon shall have been manually executed by the Trustee or its successor in trust under the Indenture.

IN WITNESS WHEREOF, DTE GAS COMPANY has caused this certificate to be executed under its name with the signature of its duly authorized Officer, under its corporate seal, which may be a facsimile, attested with the signature of its Corporate Secretary.

Dated:

DTE GAS COMPANY

By:______________________________

Attest:

By:______________________

CERTIFICATE OF AUTHENTICATION

The bonds represented by this certificate constitute Bonds of the series designated and described in the within-mentioned Indenture.

CITIBANK, N.A., as Trustee

By:_________________________________

Authorized Officer

Dated:

[End of 2019 Series E Bond Form]

SECTION 4

Each certificate evidencing the 2019 Series E Bonds (and all 2019 Series E Bonds issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the legend only):

THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES. IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE COMPANY AND THE TRUSTEE SUCH CERTIFICATES AND OTHER INFORMATION AS THE TRUSTEE MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

The 2019 Series E Bonds shall be exchangeable upon surrender thereof at the corporate trust office of the Trustee in the Borough of Manhattan, the City of New York, New York, for registered bonds of the same aggregate principal amount and other terms, but of different authorized denomination or denominations, such exchanges to be made without service charge (except for any stamp tax or other governmental charge).

When 2019 Series E Bonds are presented to the Trustee with a request (i) to register the transfer of such 2019 Series E Bonds; or (ii) to exchange such 2019 Series E Bonds for 2019 Series E Bonds of the same series of any authorized denominations of the same aggregate principal amount and Stated Maturity, the Trustee shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the 2019 Series E Bonds surrendered for transfer or exchange: (A) shall be duly endorsed or be accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Trustee, duly executed by the holder thereof or his attorney duly authorized in writing; and (B) are accompanied by the following additional information and documents, as applicable: (x) if such 2019 Series E Bonds are being delivered to the Company by a holder for registration in the name of such holder, without transfer, a certification from such holder to that effect; or (y) if such 2019 Series E Bonds are being transferred to the Company, a certification to that effect; or (z) if such 2019 Series E Bonds are being transferred pursuant to an exemption from registration in accordance with Rule 144 under the Securities Act or in reliance upon another exemption from the registration requirements of the Securities Act, (i) a certification to that effect and (ii) if the Company so requests, other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the legend set forth above.

Every 2019 Series E Bond so surrendered shall be accompanied by a proper transfer power duly executed by the registered owner or by a duly authorized attorney transferring such 2019 Series E Bond to the Company, and the signature to such transfer power shall be guaranteed to the satisfaction of the Trustee. All 2019 Series E Bonds so surrendered shall be forthwith canceled and delivered to or upon the order of the Company. All 2019 Series E Bonds executed, authenticated and delivered in exchange for 2019 Series E Bonds so surrendered shall be valid obligations of the Company, evidencing the same debt as the 2019 Series E Bonds surrendered, and shall be secured by the same lien and be entitled to the same benefits and protection as the 2019 Series E Bonds in exchange for which they are executed, authenticated and delivered.

The Company shall not be required to make any such exchange or any registration of transfer after the 2019 Series E Bond so presented for exchange or registration of transfer, or any portion thereof, has been called for redemption and notice thereof given to the registered owner.

SECTION 5

Pending the preparation of definitive 2019 Series E Bonds, the Company may from time to time execute, and upon its written order, the Trustee shall authenticate and deliver, in lieu of such definitive 2019 Series E Bonds and subject to the same provisions, limitations and conditions, one or more temporary 2019 Series E Bonds, in registered form, of any denomination specified in the written order of the Company for the authentication and delivery thereof, and with such omissions, insertions and variations as may be determined by the Board of Directors of the Company. Such temporary 2019 Series E Bonds shall be substantially of the tenor of the 2019 Series E Bonds to be issued as herein before recited.

If any such temporary 2019 Series E Bonds shall at any time be so authenticated and delivered in lieu of definitive 2019 Series E Bonds, the Company shall upon request at its own expense prepare, execute and deliver to the Trustee and thereupon, upon the presentation and surrender of temporary 2019 Series E Bonds, the Trustee shall authenticate and deliver in exchange therefor, without charge to the holder, definitive Bonds of the same series and other terms, if any, and for the same principal sum in the aggregate as the temporary 2019 Series E Bonds surrendered. All temporary 2019 Series E Bonds so surrendered shall be forthwith canceled by the Trustee and delivered to or upon the order of the Company. Until exchanged for definitive 2019 Series E Bonds the temporary 2019 Series E Bonds shall in all respects be entitled to the lien and security of the Indenture and all supplemental indentures.

ARTICLE III
ISSUE OF BONDS

The 2019 Series D Bonds in the aggregate principal amount of $140,000,000 and 2019 Series E Bonds in the aggregate principal amount of $140,000,000 may be executed, authenticated and delivered from time to time as permitted by the provisions of the Indenture, including with respect to exchange and replacement of bonds.

ARTICLE IV
THE TRUSTEE

The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or the due execution hereof by the Company, or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by the Company.

Except as herein otherwise provided, no duties, responsibilities or liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this Supplemental Indenture other than as set forth in the Indenture and this Supplemental Indenture as executed and accepted on behalf of the Trustee, subject to all the terms and conditions set forth in the Indenture, as fully to all intents as if the same were herein set forth at length.

ARTICLE V RECORDING AND FILING OF SUPPLEMENTAL INDENTUREDATED AS OF AUGUST 1, 2018

Pursuant to the terms and provisions of the Original Indenture, a Supplemental Indenture dated as of August 1, 2018 providing for the terms of First Mortgage Bonds to be issued thereunder designated as 2018 Series B Mortgage Bonds and 2018 Series C Mortgage Bonds has heretofore been entered into between the Company and the Trustee and has been filed in the Office of the Secretary of State of Michigan as a financing statement on August 27, 2018 (Filing No. 201808280000297) and has been recorded as a real estate mortgage in the offices of the respective Register of Deeds of certain counties in the State of Michigan, as follows:

COUNTY	DATE RECORDED	LIBER/ INSTRUMENT NO.	Page
Alcona County Register of Deeds	8/20/18	543	1407
Alger County Register of Deeds	8/20/18	MI 201801650	--
Alpena County Register of Deeds	8/20/18	525	730
Antrim County Register of Deeds	8/21/18	201800006615	--
Arenac County Register of Deeds	8/20/18	201802880	--
Barry County Register of Deeds	8/20/18	2018-008045	--
Benzie County Register of Deeds	8/20/18	2018R-03396	--
Charlevoix County Register of Deeds	8/20/18	1200	596
Cheboygan County Register of Deeds	8/21/18	1366	405
Chippewa County Register of Deeds	8/20/18	1287	136
Clare County Register of Deeds	8/23/18	1390	166
Clinton County Register of Deeds	8/20/18	5270347	--
Crawford County Register of Deeds	8/20/18	736	436
Delta County Register of Deeds	8/20/18	1218	272
Dickinson County Register of Deeds	8/20/18	885	92
Emmet County Register of Deeds	8/20/18	1205	919
Gladwin County Register of Deeds	8/20/18	1135	941
Grand Traverse County Register of Deeds	8/20/18	2018R-12857	--
Gratiot County Register of Deeds	8/20/18	1027	589
Ionia County Register of Deeds	8/20/18	651	5127
Iosco County Register of Deeds	8/21/18	2018004915	--
Iron County Register of Deeds	8/21/18	722	364
Isabella County Register of Deeds	8/21/18	1820	28
Jackson County Register of Deeds	8/21/18	2126	784
Kalkaska County Register of Deeds	8/21/18	3141786	--
Kent County Register of Deeds	8/21/18	20180827-0066786	--
Lake County Register of Deeds	8/21/18	403	29
Leelanau County Register of Deeds	8/21/18	1338	18
Lenawee County Register of Deeds	8/21/18	2567	841
Livingston County Register of Deeds	8/21/18	2018R-022406	--
Macomb County Register of Deeds	8/24/18	25539	569
Manistee County Register of Deeds	8/21/18	2018R004579	--
Marquette County Register of Deeds	8/21/18	2018R-08024	--
Mason County Register of Deeds	8/21/18	2018R04563	--
Mecosta County Register of Deeds	8/21/18	890	1769
Menominee County Register of Deeds	8/21/18	821	541
Missaukee County Register of Deeds	8/21/18	2018-02725	--
Monroe County Register of Deeds	9/4/18	2018R16558	--
Montcalm County Register of Deeds	8/21/18	2018R-09125	--
Montmorency County Register of Deeds	8/21/18	370	393
Muskegon County Register of Deeds	8/21/18	4165	95
Newaygo County Register of Deeds	8/21/18	470	9557
Oakland County Register of Deeds	9/24/18	52206	322
Oceana County Register of Deeds	8/21/18	2018	15263
Ogemaw County Register of Deeds	8/21/18	3149258	--
Osceola County Register of Deeds	8/21/18	983	307
Oscoda County Register of Deeds	8/21/18	218-02060	--
Otsego County Register of Deeds	8/21/18	1468	764
Ottawa County Register of Deeds	8/22/18	2018-0029654	--
Presque Isle County Register of Deeds	8/21/18	609	129
Roscommon County Register of Deeds	8/21/18	1166	2457
St. Clair County Register of Deeds	8/21/18	4980	451
Saginaw County Register of Deeds	8/21/18	2018022092	--
Shiawassee County Register of Deeds	8/21/18	1249	133
Washtenaw County Register of Deeds	8/21/18	5270	60
Wayne County Register of Deeds	8/21/18	54576	1265
Wexford County Register of Deeds	8/21/18	683	895

ARTICLE VI
RECORDING OF AFFIDAVIT OF FACTS AFFECTING REAL PROPERTY

An Affidavit of Facts Affecting Real Property dated February 11, 2013 (the “Affidavit”) has been recorded in the offices of the respective Registers of Deeds of certain counties in the State of Michigan. The Affidavit, signed by the Company’s then President and Chief Operating Officer, was given pursuant to MCL 565.451a to give notice of the fact that pursuant to a joint resolution of the Company’s sole shareholder and its board of directors, the Company amended its articles of incorporation effective January 1, 2013 to change its name from MICHIGAN CONSOLIDATED GAS COMPANY to DTE GAS COMPANY.

ARTICLE VII
MISCELLANEOUS PROVISIONS

Except insofar as herein otherwise expressly provided, all the provisions, terms and conditions of the Indenture shall be deemed to be incorporated in, and made a part of, this Fiftieth Supplemental Indenture, and the Twenty-ninth Supplemental Indenture dated as of July 15, 1989, as supplemented by the Thirtieth Supplemental Indenture dated as of September 1, 1991, by the Thirty-first Supplemental Indenture dated as of December 15, 1991, by the Thirty-second Supplemental Indenture dated as of January 5, 1993, by the Thirty-third Supplemental Indenture dated as of May 1, 1995, by the Thirty-fourth Supplemental Indenture dated as of November 1, 1996, by the Thirty-fifth Supplemental Indenture dated as of June 18, 1998, by the Thirty-sixth Supplemental Indenture dated as of August 15, 2001, by the Thirty-seventh Supplemental Indenture dated as of February 15, 2003, by the Thirty-eighth Supplemental Indenture dated as of October 1, 2004, by the Thirty-ninth Supplemental Indenture dated as of April 1, 2008, by the Fortieth Supplemental Indenture dated as of June 1, 2008, by the Forty-first Supplemental Indenture dated as of August 1, 2008, by the Forty-second Supplemental Indenture dated as of December 1, 2008, by the Forty-third Supplemental Indenture dated as of December 1, 2012, by the Forty-fourth Supplemental Indenture dated as of December 1, 2013, by the Forty-fifth Supplemental Indenture dated as of December 1, 2014, by the Forty-sixth Supplemental Indenture dated as of August 1, 2015, by the Forty-seventh Supplemental Indenture dated as of December 1, 2016, by the Forty-eighth Supplemental Indenture dated as of September 1, 2017, by the Forty-ninth Supplemental Indenture dated as of August 1, 2018 and by this Supplemental Indenture is in all respects ratified and confirmed; and the Indenture and said Supplemental Indentures shall be read, taken and construed as one and the same instrument.

Except to the extent specifically provided therein, no provision of this Supplemental Indenture or any future supplemental indenture is intended to modify, and the parties do hereby adopt and confirm, the provisions of Section 318(c) of the Trust Indenture Act, which amend and supersede provisions of the Indenture in effect prior to November 15, 1990.

Nothing in this Supplemental Indenture is intended, or shall be construed, to give to any person or corporation, other than the parties hereto and the holders of Bonds issued and to be issued under and secured by the Indenture, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture, or under any covenant, condition or provision herein contained, all the covenants, conditions and provisions of this Supplemental Indenture being intended to be, and being, for the sole and exclusive benefit of the parties hereto and of the holders of bonds issued and to be issued under the Indenture and secured thereby.

All covenants, promises and agreements in this Supplemental Indenture contained by or on behalf of the Company shall bind its successors and assigns whether so expressed or not.

This Supplemental Indenturemay be executed in any number of counterparts, and each of such counterparts when so executed shall be deemed to be an original; but all such counterparts shall together constitute but one and the same instrument.

IN WITNESS WHEREOF, DTE GAS COMPANY has caused this Supplemental Indenture to be executed by its duly authorized Officer, and its corporate seal to be hereunto affixed, and Citibank, N.A., as Trustee as aforesaid, has caused the same to be executed by one of its authorized signatories and its corporate seal to be hereunto affixed, on the respective dates of their acknowledgments hereinafter set forth, as of the date and year first above written.

DTE GAS COMPANY

By: /s/Edward J. Solomon

    Edward J. Solomon

Assistant Treasurer

Signed, sealed, acknowledged and
delivered by DTE GAS COMPANY in the presence of:

/s/Daniel Richards

Daniel Richards

/s/Kathleen Hier

Kathleen Hier

State of Michigan    }

} ss.

County of Wayne    }

The foregoing instrument was acknowledged before me this 1st day of October 2019, by Edward J. Solomon, as Assistant Treasurer, of DTE Gas Company, a Michigan corporation, on behalf of the corporation.

/s/Katie S. Glover

Katie S. Glover

Notary Public, Wayne County, MI

Acting in Wayne County, MI

My Commission Expires: May 4, 2025

CITIBANK, N.A., as Trustee

By: /s/Danny Lee

Name: Danny Lee

Its: Senior Trust Officer

Signed, sealed, acknowledged and
delivered by CITIBANK, N.A.
in the presence of:

/s/Louis Piscitelli

Name: Louis Piscitelli, Senior Trust Officer

/s/James Polcari

Name: James Polcari, Senior Trust Officer

State of New York    }

} ss.

County of Richmond    }

The foregoing instrument was acknowledged before me this 24^th day of September, 2019, by Danny Lee as Senior Trust Officer of Citibank, N.A., a national banking association, on behalf of the association, as Trustee, as in said instrument described.

/s/Kate Molina

Notary Public, State of New York
No. 01MO6387127
Qualified in Richmond County

Commission Expires February 4, 2023

This instrument was drafted by:

Daniel Richards

DTE Energy

One Energy Plaza, 1610 WCB

Detroit, MI 48226

When recorded return to:

Daniel Richards

DTE Energy

One Energy Plaza, 1610 WCB

Detroit, MI 48226

EX-31.169

Exhibit 31.169

FORM 10-Q CERTIFICATION

I, Gerardo Norcia, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of DTE Energy Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/S/ GERARDO NORCIA	Date:	October 28, 2019
Gerardo Norcia President and Chief Executive Officer of DTE Energy Company

EX-31.170

Exhibit 31.170

FORM 10-Q CERTIFICATION

I, Peter B. Oleksiak, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of DTE Energy Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/S/ PETER B. OLEKSIAK	Date:	October 28, 2019
Peter B. Oleksiak Senior Vice President and Chief Financial Officer of DTE Energy Company

EX-31.171

Exhibit 31.171

FORM 10-Q CERTIFICATION

I, Gerardo Norcia, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of DTE Electric Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/S/ GERARDO NORCIA	Date:	October 28, 2019
Gerardo Norcia President and Chief Executive Officer of DTE Electric Company

EX-31.172

Exhibit 31.172

FORM 10-Q CERTIFICATION

I, Peter B. Oleksiak, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of DTE Electric Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/S/ PETER B. OLEKSIAK	Date:	October 28, 2019
Peter B. Oleksiak Senior Vice President and Chief Financial Officer of DTE Electric Company

EX-32.169

Exhibit 32.169

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of DTE Energy Company (the “Company”) for the quarter ended September 30, 2019, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gerardo Norcia, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:	October 28, 2019	/S/ GERARDO NORCIA
		Gerardo Norcia President and Chief Executive Officer of DTE Energy Company

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.170

Exhibit 32.170

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of DTE Energy Company (the “Company”) for the quarter ended September 30, 2019, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Peter B. Oleksiak, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:	October 28, 2019	/S/ PETER B. OLEKSIAK
		Peter B. Oleksiak Senior Vice President and Chief Financial Officer of DTE Energy Company

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.171

Exhibit 32.171

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of DTE Electric Company (the “Company”) for the quarter ended September 30, 2019, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gerardo Norcia, certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:	October 28, 2019	/S/ GERARDO NORCIA
		Gerardo Norcia President and Chief Executive Officer of DTE Electric Company

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.172

Exhibit 32.172

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of DTE Electric Company (the “Company”) for the quarter ended September 30, 2019, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Peter B. Oleksiak, certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:	October 28, 2019	/S/ PETER B. OLEKSIAK
		Peter B. Oleksiak Senior Vice President and Chief Financial Officer of DTE Electric Company

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Significant Accounting Policies (Details Textuals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Significant Accounting Policies [Line Items]
Effective tax rate increase (decrease)	4.00%		0.00%
Valuation allowance for AMT credit carryover					$ 20
Remeasurement of deferred taxes					21
Unrecognized tax benefits	$ 8		$ 8
Unrecognized compensation cost	88		$ 88
Recognition period (in years)			1 year 3 months 18 days
Amortization of intangible assets	$ 7	$ 7	$ 21	$ 20
DTE Electric
Significant Accounting Policies [Line Items]
Effective tax rate increase (decrease)	(5.00%)		(6.00%)
Remeasurement of deferred taxes					7
Amortization of TCJA regulatory liability			4.00%
Annual production tax credits			1.00%
Measurement period adjustment, decrease to effective tax rate			0.01
Unrecognized tax benefits	$ 10		$ 10
DTE Electric | DTE Energy
Significant Accounting Policies [Line Items]
Income tax payable	13		13
Income tax receivable					$ 8
Allocated costs	$ 9	$ 11	$ 33	$ 27

XML

New Accounting Pronouncements (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets for certain operating leases	$ 145
Lease liabilities for certain operating leases	138
Reclassification of income tax effects		$ 0	$ 0
DTE Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets for certain operating leases	64
Lease liabilities for certain operating leases	$ 58
Accumulated Other Comprehensive Income (Loss)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of income tax effects		(25)	(5)
Accumulated Other Comprehensive Income (Loss) | DTE Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of income tax effects			(3)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of income tax effects		25	5
Retained Earnings | DTE Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of income tax effects			$ 3
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets for certain operating leases		137
Lease liabilities for certain operating leases		130
Prepaid lease costs reclassified from Other assets, current and noncurrent		9
Deferred lease costs reclassified from Other liabilities, current and noncurrent		2
Accounting Standards Update 2016-02 | DTE Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets for certain operating leases		74
Lease liabilities for certain operating leases		67
Accounting Standards Update 2018-02 | Accumulated Other Comprehensive Income (Loss)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of income tax effects		(25)
Accounting Standards Update 2018-02 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of income tax effects		$ 25

XML

Financial and Other Derivative Instruments (Details Textuals) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Letters of credit that could be used to offset net derivative liabilities	$ 2,000,000	$ 4,000,000
Letters of credit received that could be used to offset net derivative assets	6,000,000	$ 8,000,000
Contractual obligation to post collateral in event of downgrade to below investment grade	517,000,000
Derivative net liability position aggregate fair value	364,000,000
Collateral already posted fair value	0
Derivative net asset position, fair value	304,000,000
Remaining amount of offsets to derivative net liability positions for hard and soft trigger provisions	$ 60,000,000

XML

Segment and Related Information (Financial Data - Net Income (Loss) Attributable to DTE Energy by Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Income Attributable to DTE Energy Company	$ 319	$ 334	$ 902	$ 929
Electric
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Income Attributable to DTE Energy Company	307	305	587	608
Gas
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Income Attributable to DTE Energy Company	(38)	(30)	121	88
Gas Storage and Pipelines
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Income Attributable to DTE Energy Company	60	66	158	188
Power and Industrial Projects
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Income Attributable to DTE Energy Company	49	58	104	146
Energy Trading
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Income Attributable to DTE Energy Company	(14)	(13)	12	13
Corporate and Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net Income Attributable to DTE Energy Company	$ (45)	$ (52)	$ (80)	$ (114)

XML

Retirement Benefits and Trusteed Assets - VEBA Contributions (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Mar. 05, 2019	Mar. 31, 2019	Mar. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Amount		$ 100	$ 175
Pension Benefits
Defined Contribution Plan Disclosure [Line Items]
Number of Shares (in shares)	814,597
Price per Share (in dollars per share)	$ 122.76
Amount	$ 100

XML

Fair Value (Fair Value and Unrealized Gains and Losses for the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - Nuclear decommissioning trust fund - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 1,577	$ 1,378
Fixed income securities, fair value	544	502
Private equity and other, fair value	34	20
Cash equivalents, fair value	9	5
Unrealized Gains	362	242
Fixed income securities, unrealized gains	27	7
Unrealized Losses	(54)	(87)
Fixed income securities, unrealized losses	(1)	(8)
Equity securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	990	851
Unrealized Gains	335	235
Unrealized Losses	$ (53)	$ (79)

XML

Fair Value (Unobservable Inputs related to Level 3 Assets and Liabilities) (Details) $ in Millions	Sep. 30, 2019 USD ($) $ / MWh $ / MMBTU	Dec. 31, 2018 USD ($) $ / MWh $ / MMBTU
Unobservable Inputs Valuation Techniques [Line Items]
Derivative Assets	$ 429	$ 663
Derivative Liabilities	(460)	(669)
Recurring | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Derivative Assets	95	126
Derivative Liabilities	(123)	(170)
Natural gas
Unobservable Inputs Valuation Techniques [Line Items]
Derivative Assets	253	349
Derivative Liabilities	(297)	(380)
Natural gas | Recurring | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Derivative Assets	54	63
Derivative Liabilities	(95)	(112)
Electricity
Unobservable Inputs Valuation Techniques [Line Items]
Derivative Assets	164	303
Derivative Liabilities	(155)	(285)
Electricity | Recurring | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Derivative Assets	36	56
Derivative Liabilities	$ (28)	$ (58)
Forward basis price | Natural gas | Minimum | Discounted Cash Flow | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Forward basis price | $ / MMBTU	(1.55)	(2.15)
Forward basis price | Natural gas | Maximum | Discounted Cash Flow | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Forward basis price | $ / MMBTU	6.17	5.59
Forward basis price | Natural gas | Weighted Average | Discounted Cash Flow | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Forward basis price | $ / MMBTU	(0.09)	(0.10)
Forward basis price | Electricity | Minimum | Discounted Cash Flow | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Forward basis price | $ / MWh	(13)	(7)
Forward basis price | Electricity | Maximum | Discounted Cash Flow | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Forward basis price | $ / MWh	7	9
Forward basis price | Electricity | Weighted Average | Discounted Cash Flow | Level 3
Unobservable Inputs Valuation Techniques [Line Items]
Forward basis price | $ / MWh	0	1

XML

Leases (Property under Operating Leases - Topic 840) (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
Gross property under operating leases	$ 447
Accumulated amortization of property under operating leases	$ 148

XML

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The Consolidated Financial Statements should be read in conjunction with the Combined Notes to Consolidated Financial Statements included in the combined DTE Energy and DTE Electric 2018 Annual Report on Form 10-K.

The accompanying Consolidated Financial Statements of the Registrants are prepared using accounting principles generally accepted in the United States of America. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from the Registrants' estimates.

The Consolidated Financial Statements are unaudited but, in the Registrants' opinions, include all adjustments necessary to present a fair statement of the results for the interim periods. All adjustments are of a normal recurring nature, except as otherwise disclosed in these Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2019.

The information in these combined notes relates to each of the Registrants as noted in the Index of Combined Notes to Consolidated Financial Statements. However, DTE Electric does not make any representation as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.

Reclassification

Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation.

Principles of Consolidation

Principles of Consolidation

The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the cost method is used. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions.

The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.

Legal entities within DTE Energy's Power and Industrial Projects segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are generally accounted for under the equity method.

DTE Energy currently owns an 85% interest in SGG, which owns and operates midstream natural gas assets. SGG has contracts through which certain construction risk is designed to pass-through to the customers, with DTE Energy retaining operational and customer default risk. SGG is a VIE with DTE Energy as the primary beneficiary.

The Registrants have variable interests in NEXUS, which include DTE Energy's 50% ownership interest and DTE Electric's transportation services contract. NEXUS is a joint venture which owns a 256-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers. NEXUS also owns Generation Pipeline, LLC, a 23-mile regulated pipeline system located in northern Ohio, which was acquired in September 2019. Refer to Note 4, "Acquisitions," for additional information. NEXUS is a VIE as it has insufficient equity at risk to finance its activities. The Registrants are not the primary beneficiaries, as the power to direct significant activities is shared between the owners of the equity interests. DTE Energy accounts for its ownership interest in NEXUS under the equity method.

The Registrants hold ownership interests in certain limited partnerships. The limited partnerships include investment funds which support regional development and economic growth, as well as, an operational business providing energy-related products. These entities are generally VIEs as a result of certain characteristics of the limited partnership voting rights. The ownership interests are accounted for under the equity method as the Registrants are not the primary beneficiaries.

DTE Energy has variable interests in VIEs through certain of its long-term purchase and sale contracts. DTE Electric has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2019, the carrying amount of assets and liabilities in DTE Energy's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts are predominantly related to working capital accounts and generally represent the amounts owed by or to DTE Energy for the deliveries associated with the current billing cycle under the contracts. As of September 30, 2019, the carrying amount of assets and liabilities in DTE Electric's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominantly related to working capital accounts and generally represent the amounts owed by DTE Electric for the deliveries associated with the current billing cycle under the contracts. The Registrants have not provided any significant form of financial support associated with these long-term contracts. There is no significant potential exposure to loss as a result of DTE Energy's variable interests through these long-term purchase and sale contracts. In addition, there is no significant potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts.

The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position and, for DTE Energy, in Note 13 to the Consolidated Financial Statements, "Commitments and Contingencies," related to the REF guarantees and indemnities. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, future funding commitments, and amounts which DTE Energy has guaranteed. See Note 13 to the Consolidated Financial Statements, "Commitments and Contingencies," for further discussion of the NEXUS guarantee arrangements.

Changes in Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income (Loss)

Comprehensive income (loss) is the change in common shareholders' equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for DTE Energy include changes in benefit obligations, consisting of deferred actuarial losses and prior service costs, unrealized gains and losses from derivatives accounted for as cash flow hedges, DTE Energy's interest in other comprehensive income of equity investees which comprise the net unrealized gains and losses on investments, and foreign currency translation adjustments. DTE Energy releases income tax effects from accumulated other comprehensive income when the circumstances upon which they are premised cease to exist.

Changes in Accumulated other comprehensive income (loss) are presented in DTE Energy's Consolidated Statements of Changes in Equity and DTE Electric's Consolidated Statements of Changes in Shareholder's Equity. For further discussion regarding changes in Accumulated other comprehensive income (loss), see Note 3 to the Consolidated Financial Statements, "New Accounting Pronouncements." For the three and nine months ended September 30, 2019 and 2018, reclassifications out of Accumulated other comprehensive income (loss) not relating to the adoption of new accounting pronouncements for DTE Energy were not material.

Cash, Cash Equivalents, and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash consists of funds held to satisfy requirements of certain debt and DTE Energy partnership operating agreements. Restricted cash designated for interest and principal payments within one year is classified as a Current Asset.

Intangible Assets

DTE Energy amortizes customer relationship and contract intangible assets on a straight-line basis over the expected period of benefit.

Recently Adopted and Recently Issued Pronouncements

Recently Adopted Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), as amended. This guidance requires a lessee to account for leases as finance or operating leases and disclose key information about leasing arrangements. Both types of leases will result in the lessee recognizing a right-of-use asset and a corresponding lease liability on its balance sheet, with differing methodology for income statement recognition, depending on the lease classification. The Registrants adopted the standard on January 1, 2019 using the prospective approach. The standard provides a number of transition practical expedients of which the Registrants elected the package of three expedients that must be taken together, allowing entities to not reassess whether an agreement is a lease, to carryforward the existing lease classification, and to not reassess initial direct costs associated with existing leases; but did not elect to apply hindsight in determining lease term and impairment of the right-of-use assets. The Registrants also elected to not evaluate land easements under the new guidance at adoption if they were not previously accounted for as leases. These practical expedients apply to leases that commenced prior to January 1, 2019.

At adoption of the new standard, the Registrants recognized on the Consolidated Statements of Financial Position, right-of-use assets and lease liabilities for certain operating leases of approximately $137 million and $130 million, respectively, for DTE Energy and approximately $74 million and $67 million, respectively, for DTE Electric as of January 1, 2019. The right-of-use lease assets include $9 million of prepaid lease costs that have been reclassified from Other assets, current and noncurrent, and $2 million of deferred lease costs that have been reclassified from Other liabilities, current and noncurrent, for the Registrants. The adoption of the ASU did not have a significant impact on the Registrants' Consolidated Statements of Operations but required additional disclosures for leases. See Note 12 to the Consolidated Financial Statements, "Leases."

In February 2018, the FASB issued ASU No. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings from stranded tax effects resulting from the TCJA. The amendments in this update also require entities to disclose their accounting policy for releasing income tax effects from accumulated other comprehensive income. The Registrants adopted the standard effective January 1, 2019. Upon adoption, DTE Energy reclassified $25 million of income tax effects from Accumulated other comprehensive income (loss) to Retained Earnings.

Recently Issued Pronouncements

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended. The amendments in this update replace the incurred loss impairment methodology in current generally accepted accounting principles with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasts, to develop credit loss estimates. The ASU requires entities to use the new methodology to measure impairment of financial instruments, including accounts receivable, and may result in earlier recognition of credit losses than under current generally accepted accounting principles. Entities will apply the new guidance as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The ASU is effective for the Registrants beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for the Registrants for fiscal years ending after December 15, 2020. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The ASU may be applied using either a retrospective or prospective approach. The Registrants are currently evaluating the transition methods and assessing the impact of this standard on their Consolidated Financial Statements.

In October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities. The amendments in this update modify the requirements for determining whether a decision-making fee is a variable interest and require reporting entities to consider indirect interests held through related parties under common control on a proportional basis. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

Fair Value Measurement

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Registrants make certain assumptions they believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. Credit risk of the Registrants and their counterparties is incorporated in the valuation of assets and liabilities through the use of credit reserves, the impact of which was immaterial at September 30, 2019 and December 31, 2018. The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs.

A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows:

• Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date.

• Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.

•

Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints.

Nuclear Decommissioning Trusts and Other Investments

Nuclear Decommissioning Trusts and Other Investments

The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. Commingled funds that hold exchange-traded equity or debt securities are valued based on stated NAVs. Non-exchange-traded fixed income securities are valued based upon quotations available from brokers or pricing services. Other assets such as private equity investments are classified as NAV assets. A primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary price source of a given security if the trustee determines that another price source is considered preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.

Derivative Assets and Liabilities

Derivative Assets and Liabilities

Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy.

Fair Value Transfer

Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period.

Derivatives

The Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the portion of the derivative gain or loss that is effective in offsetting the change in the value of the underlying exposure is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. Gains or losses from the ineffective portion of cash flow hedges are recognized in earnings immediately. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period.

The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain coal forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas inventory, pipeline transportation contracts, renewable energy credits, and natural gas storage assets.

DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized.

DTE Gas — DTE Gas purchases, stores, transports, distributes, and sells natural gas and sells storage and transportation capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2022. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. DTE Gas may also sell forward transportation and storage capacity contracts. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method.

Gas Storage and Pipelines — This segment is primarily engaged in services related to the gathering, transportation, and storage of natural gas. Primarily fixed-priced contracts are used in the marketing and management of transportation and storage services. Generally, these contracts are not derivatives and are therefore accounted for under the accrual method.

Power and Industrial Projects — This segment manages and operates energy and pulverized coal projects, a coke battery, reduced emissions fuel projects, renewable gas recovery, and power generation assets. Primarily fixed-price contracts are used in the marketing and management of the segment assets. These contracts are generally not derivatives and are therefore accounted for under the accrual method.

Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.

Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. Energy Trading enters into these contracts to mitigate price volatility with respect to fluctuations of the Canadian dollar relative to the U.S. dollar. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.

Corporate and Other — Interest Rate Risk — DTE Energy may use interest rate swaps, treasury locks, and other derivatives to hedge the risk associated with interest rate market volatility.

Credit Risk — DTE Energy maintains credit policies that significantly minimize overall credit risk. These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees. DTE Energy generally uses standardized agreements that allow the netting of positive and negative transactions associated with a single counterparty. DTE Energy maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends, and other information. Based on DTE Energy's credit policies and its September 30, 2019 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements.

Derivatives, Offsetting Fair Value Amounts

Certain of DTE Energy's derivative positions are subject to netting arrangements which provide for offsetting of asset and liability positions as well as related cash collateral. Such netting arrangements generally do not have restrictions. Under such netting arrangements, DTE Energy offsets the fair value of derivative instruments with cash collateral received or paid for those contracts executed with the same counterparty, which reduces DTE Energy's Total Assets and Liabilities. Cash collateral is allocated between the fair value of derivative instruments and customer accounts receivable and payable with the same counterparty on a pro-rata basis to the extent there is exposure. Any cash collateral remaining, after the exposure is netted to zero, is reflected in Accounts receivable and Accounts payable as collateral paid or received, respectively.

DTE Energy also provides and receives collateral in the form of letters of credit which can be offset against net Derivative assets and liabilities as well as Accounts receivable and payable. DTE Energy had issued letters of credit of $2 million and $4 million outstanding at September 30, 2019 and December 31, 2018, respectively, which could be used to offset net Derivative liabilities. Letters of credit received from third parties which could be used to offset net Derivative assets were $6 million and $8 million at September 30, 2019 and December 31, 2018, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.

For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.

Derivatives, Methods of Accounting, Derivatives Not Designated or Qualifying as Hedges

Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, and gas — non-utility.

Income Tax

The federal income tax provisions or benefits of DTE Energy’s subsidiaries are determined on an individual company basis and recognize the tax benefit of tax credits and net operating losses, if applicable. The state and local income tax provisions of the utility subsidiaries are determined on an individual company basis and recognize the tax benefit of various tax credits and net operating losses, if applicable. The subsidiaries record federal, state, and local income taxes payable to or receivable from DTE Energy based on the federal, state, and local tax provisions of each company.

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Environmental

DTE Electric

Air — DTE Electric is subject to the EPA ozone and fine particulate transport and acid rain regulations that limit power plant emissions of SO₂ and NO_X. The EPA and the State of Michigan have also issued emission reduction regulations relating to ozone, fine particulate, regional haze, mercury, and other air pollution. These rules have led to controls on fossil-fueled power plants to reduce SO₂, NO_X, mercury, and other emissions. Additional rulemakings may occur over the next few years which could require additional controls for SO₂, NO_X, and other hazardous air pollutants.

The EPA proposed revised air quality standards for ground level ozone in November 2014 and specifically requested comments on the form and level of the ozone standards. The standards were finalized in October 2015. The State of Michigan recommended to the EPA in October 2016 which areas of the state are not attaining the new standard. On April 30, 2018, the EPA finalized the State of Michigan's recommended marginal non-attainment designation for southeast Michigan. The State is required to develop and implement a plan to address the southeast Michigan ozone non-attainment area by 2021. The Registrants cannot predict the financial impact of the State's plan to address the ozone non-attainment area at this time.

In July 2009, the Registrants received a NOV/FOV from the EPA alleging, among other things, that five DTE Electric power plants violated New Source Performance standards, Prevention of Significant Deterioration requirements, and operating permit requirements under the Clean Air Act. In June 2010, the EPA issued a NOV/FOV making similar allegations related to a project and outage at Unit 2 of the Monroe Power Plant. In March 2013, DTE Energy received a supplemental NOV from the EPA relating to the July 2009 NOV/FOV. The supplemental NOV alleged additional violations relating to the New Source Review provisions under the Clean Air Act, among other things.

In August 2010, the U.S. Department of Justice, at the request of the EPA, brought a civil suit in the U.S. District Court for the Eastern District of Michigan against DTE Energy and DTE Electric, related to the June 2010 NOV/FOV and the outage work performed at Unit 2 of the Monroe Power Plant. In August 2011, the U.S. District Court judge granted DTE Energy's motion for summary judgment in the civil case, dismissing the case and entering judgment in favor of DTE Energy and DTE Electric. In October 2011, the EPA filed a Notice of Appeal to the Court of Appeals for the Sixth Circuit. In March 2013, the Court of Appeals remanded the case to the U.S. District Court for review of the procedural component of the New Source Review notification requirements. In September 2013, the EPA filed a motion seeking leave to amend their complaint regarding the June 2010 NOV/FOV adding additional claims related to outage work performed at the Trenton Channel and Belle River Power Plants as well as additional claims related to work performed at the Monroe Power Plant. In March 2014, the U.S. District Court judge again granted DTE Energy's motion for summary judgment dismissing the civil case related to Monroe Unit 2. In April 2014, the U.S. District Court judge granted motions filed by the EPA and the Sierra Club to amend their New Source Review complaint adding additional claims for Monroe Units 1, 2, and 3, Belle River Units 1 and 2, and Trenton Channel Unit 9. In October 2014, the EPA and the U.S. Department of Justice filed a notice of appeal of the U.S. District Court judge's dismissal of the Monroe Unit 2 case. The amended New Source Review claims were all stayed pending resolution of the appeal by the Court of Appeals for the Sixth Circuit. On January 10, 2017, a divided panel of the Court reversed the decision of the U.S. District Court. On May 8, 2017, DTE Energy and DTE Electric filed a motion to stay the mandate pending filing of a petition for writ of certiorari with the U.S. Supreme Court. The Sixth Circuit granted the motion on May 16, 2017, staying the claims in the U.S. District Court until the U.S. Supreme Court disposes of the case. DTE Electric and DTE Energy filed a petition for writ of certiorari on July 31, 2017. On December 11, 2017, the U.S. Supreme Court denied certiorari. As a result of the Supreme Court electing not to review the matter, the case was sent back to the U.S. District Court for further proceedings and on June 14, 2018 the case was stayed pending settlement negotiations. The proceedings at the District Court remain stayed while the parties discuss potential resolution of the matter.

The Registrants believe that the plants and generating units identified by the EPA and the Sierra Club have complied with all applicable federal environmental regulations. Depending upon the outcome of the litigation and further discussions with the EPA regarding the two NOVs/FOVs, DTE Electric could be required to install additional pollution control equipment at some or all of the power plants in question, implement early retirement of facilities where control equipment is not economical, engage in supplemental environmental programs, and/or pay fines. The Registrants do not expect the outcome for this matter to have a material impact on their Consolidated Financial Statements.

The EPA has implemented regulatory actions under the Clean Air Act to address emissions of GHGs from the utility sector and other sectors of the economy. Among these actions, in 2015 the EPA finalized performance standards for emissions of carbon dioxide from new and existing fossil-fuel fired EGUs. The performance standards for existing EGUs, known as the EPA Clean Power Plan, were challenged by petitioners and stayed by the U.S. Supreme Court in February 2016 pending final review by the courts. On October 10, 2017, the EPA, under a new administration, proposed to rescind the Clean Power Plan, and in August 2018, the EPA proposed revised emission guidelines for GHGs from existing EGUs. On June 19, 2019, the EPA Administrator officially repealed the Clean Power Plan and finalized its replacement, named the Affordable Clean Energy (ACE) rule. These final rules do not impact DTE Energy's revised commitment to reduce carbon emissions 32% by the early 2020s, 50% by 2030, and 80% by 2040, or its goal of net zero emissions by 2050 for DTE Electric, from the 2005 carbon emissions levels.

In addition to the GHG standards for existing EGUs, in December 2018, the EPA issued proposed revisions to the carbon dioxide performance standards for new, modified, or reconstructed fossil-fuel fired EGUs. The carbon standards for new sources are not expected to have a material impact on DTE Electric, since DTE Electric has no plans to build new coal-fired generation and any potential new gas generation will be able to comply with the standards.

Pending or future legislation or other regulatory actions could have a material impact on DTE Electric's operations and financial position and the rates charged to its customers. Impacts include expenditures for environmental equipment beyond what is currently planned, financing costs related to additional capital expenditures, the purchase of emission credits from market sources, higher costs of purchased power, and the retirement of facilities where control equipment is not economical. DTE Electric would seek to recover these incremental costs through increased rates charged to its utility customers, as authorized by the MPSC.

To comply with air pollution requirements, DTE Electric spent approximately $2.4 billion through 2018. DTE Electric does not anticipate additional capital expenditures for air pollution requirements through 2025.

Water — In response to an EPA regulation, DTE Electric was required to examine alternatives for reducing the environmental impacts of the cooling water intake structures at several of its facilities. Based on the results of completed studies and expected future studies, DTE Electric may be required to install technologies to reduce the impacts of the water intake structures. A final rule became effective in October 2014. The final rule requires studies to be completed and submitted as part of the National Pollutant Discharge Elimination System (NPDES) permit application process to determine the type of technology needed to reduce impacts to fish. DTE Electric has initiated the process of completing the required studies. Final compliance for the installation of any required technology will be determined by the state on a case by case, site specific basis. DTE Electric is currently evaluating the compliance options and working with the State of Michigan on evaluating whether any controls are needed. These evaluations/studies may require modifications to some existing intake structures. It is not possible to quantify the impact of this rulemaking at this time.

Contaminated and Other Sites — Prior to the construction of major interstate natural gas pipelines, gas for heating and other uses was manufactured locally from processes involving coal, coke, or oil. The facilities, which produced gas, have been designated as MGP sites. DTE Electric conducted remedial investigations at contaminated sites, including three former MGP sites. The investigations have revealed contamination related to the by-products of gas manufacturing at each MGP site. In addition to the MGP sites, DTE Electric is also in the process of cleaning up other contaminated sites, including the area surrounding an ash landfill, electrical distribution substations, electric generating power plants, and underground and aboveground storage tank locations. The findings of these investigations indicated that the estimated cost to remediate these sites is expected to be incurred over the next several years. At September 30, 2019 and December 31, 2018, DTE Electric had $8 million and $7 million, respectively, accrued for remediation. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Electric’s financial position and cash flows. DTE Electric believes the likelihood of a material change to the accrued amount is remote based on current knowledge of the conditions at each site.

Coal Combustion Residuals and Effluent Limitations Guidelines — A final EPA rule for the disposal of coal combustion residuals, commonly known as coal ash, became effective in October 2015, and was revised in October 2016 and July 2018. Additionally, D.C. District Court Decisions on August 21, 2018 and March 19, 2019 may affect the timing of closure of coal ash impoundments that are not lined with an engineered liner system. In late 2019, the EPA is expected to affirmatively undertake rulemaking to implement the D.C. District Court's decisions that will determine any changes to DTE Electric's plans in the operation and closure of coal ash impoundments.

At the State level, legislation was signed by the Governor in December 2018 and provides for further regulation of the CCR program in Michigan. Additionally, the bill provides the basis of a CCR program that EGLE will submit to the EPA for approval to fully regulate the CCR program in Michigan in lieu of a Federal permit program.

DTE Electric owns and operates three permitted engineered coal ash storage facilities to dispose of coal ash from coal-fired power plants and operates a number of smaller impoundments at its power plants. CCR obligations vary based on plant life, but include the installation of monitoring wells, compliance with groundwater standards, and the closure of landfills and basins at the end of the useful life of the associated power plant unless closure is triggered by a specific CCR rule requirement. Under the current CCR rules and uncertainty regarding the outcome of the D.C. District Court decision to remand portions of the rule to the EPA, capital costs and timing associated with the building of new CCR facilities or retirement of existing CCR facilities are being evaluated.

In November 2015, the EPA finalized the ELG Rule for the steam electric power generating industry which requires additional controls to be installed between 2018 and 2023. Compliance schedules for individual facilities and individual waste streams are determined through issuance of new National Pollutant Discharge Elimination System (NPDES) permits by the State of Michigan. The State of Michigan has issued a NPDES permit for the Belle River Power Plant establishing a compliance deadline of December 31, 2021. No new permits that would require ELG compliance have been issued for other facilities, consequently no compliance timelines have been established.

On April 12, 2017, the EPA granted a petition for reconsideration of the ELG Rule. The EPA also signed an administrative stay of the ELG Rule’s compliance deadlines for fly ash transport water, bottom ash transport water, and flue gas desulfurization (FGD) wastewater, among others. On June 6, 2017, the EPA published in the Federal Register a proposed rule (Postponement Rule) to postpone certain applicable deadlines within the 2015 ELG rule. The Postponement Rule was published on September 18, 2017. The Postponement Rule nullified the administrative stay but also extended the earliest compliance deadlines for only FGD wastewater and bottom ash transport water until November 1, 2020 in order for the EPA to propose and finalize a new ruling. The ELG compliance requirements and final deadlines for bottom ash transport water and FGD wastewater, and total ELG related compliance costs will not be known until the EPA completes its reconsideration of the ELG Rule expected by the end of 2020.

DTE Gas

Contaminated and Other Sites — DTE Gas owns or previously owned, 14 former MGP sites. Investigations have revealed contamination related to the by-products of gas manufacturing at each site. Cleanup of eight of the MGP sites is complete, and the sites are closed. DTE Gas has also completed partial closure of four additional sites. Cleanup activities associated with the remaining sites will continue over the next several years. The MPSC has established a cost deferral and rate recovery mechanism for investigation and remediation costs incurred at former MGP sites. In addition to the MGP sites, DTE Gas is also in the process of cleaning up other contaminated sites, including gate stations, gas pipeline releases, and underground storage tank locations. As of September 30, 2019 and December 31, 2018, DTE Gas had $25 million accrued for remediation. Any change in assumptions, such as remediation techniques, nature and extent of contamination, and regulatory requirements, could impact the estimate of remedial action costs for the sites and affect DTE Gas' financial position and cash flows. DTE Gas anticipates the cost amortization methodology approved by the MPSC, which allows for amortization of the MGP costs over a ten-year period beginning with the year subsequent to the year the MGP costs were incurred, will prevent environmental costs from having a material adverse impact on DTE Gas' results of operations.

Non-utility

DTE Energy's non-utility businesses are subject to a number of environmental laws and regulations dealing with the protection of the environment from various pollutants.

In March 2019, the EPA issued a finding of violation to EES Coke, the Michigan coke battery facility that is a wholly-owned subsidiary of DTE Energy, alleging that the 2008 and 2014 permits issued by EGLE did not comply with the Clean Air Act. EES Coke evaluated the EPA's alleged violations and believes that the permits approved by EGLE complied with the Clean Air Act. Discussions with the EPA are ongoing. At the present time, DTE Energy does not believe this will have a material financial impact.

Other

In 2010, the EPA finalized a new one-hour SO₂ ambient air quality standard that requires states to submit plans and associated timelines for non-attainment areas that demonstrate attainment with the new SO₂ standard in phases. Phase 1 addresses non-attainment areas designated based on ambient monitoring data. Phase 2 addresses non-attainment areas with large sources of SO₂ and modeled concentrations exceeding the National Ambient Air Quality Standards for SO₂. Phase 3 addresses smaller sources of SO₂ with modeled or monitored exceedances of the new SO₂ standard.

Michigan's Phase 1 non-attainment area includes DTE Energy facilities in southwest Detroit and areas of Wayne County. Modeling runs by EGLE suggest that emission reductions may be required by significant sources of SO₂ emissions in these areas, including DTE Electric power plants and DTE Energy's Michigan coke battery facility. As part of the state implementation plan process, DTE Energy has worked with EGLE to develop air permits reflecting significant SO₂ emission reductions that, in combination with other non-DTE Energy sources' emission reduction strategies, will help the state attain the standard and sustain its attainment. Since several non-DTE Energy sources are also part of the proposed compliance plan, DTE Energy is unable to determine the full impact of the final required emissions reductions at this time.

Michigan's Phase 2 non-attainment area includes DTE Electric facilities in St. Clair County. State implementation plan (SIP) submittal and EPA approval describing the control strategy and timeline for demonstrating compliance with the new SO₂ standard is the next step in the process and is expected to be completed by the end of 2019. DTE Energy is currently working with EGLE to develop the required SIP. DTE Energy is unable to determine the full impact of the SIP strategy.

Synthetic Fuel Guarantees

DTE Energy discontinued the operations of its synthetic fuel production facilities throughout the United States as of December 31, 2007. DTE Energy provided certain guarantees and indemnities in conjunction with the sales of interests in its synfuel facilities. The guarantees cover potential commercial, environmental, oil price, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations. DTE Energy estimates that its maximum potential liability under these guarantees at September 30, 2019 was approximately $400 million. Payment under these guarantees are considered remote.

REF Guarantees

DTE Energy has provided certain guarantees and indemnities in conjunction with the sales of interests in or lease of its REF facilities. The guarantees cover potential commercial, environmental, and tax-related obligations that will survive until 90 days after expiration of all applicable statutes of limitations. DTE Energy estimates that its maximum potential liability under these guarantees at September 30, 2019 was $491 million. Payments under these guarantees are considered remote.

NEXUS Guarantees

NEXUS entered into certain 15-year capacity agreements for the transportation of natural gas with DTE Gas and Texas Eastern Transmission, LP, an unrelated third party. Pursuant to the terms of those agreements, in December 2016, DTE Energy executed separate guarantee agreements with DTE Gas and Texas Eastern Transmission, LP, with maximum potential payments totaling $242 million and $377 million at September 30, 2019, respectively; each representing 50% of all payment obligations due and payable by NEXUS. Each guarantee terminates at the earlier of (i) such time as all of the guaranteed obligations have been fully performed, or (ii) two months following the end of the primary term of the capacity agreements. In October 2018, NEXUS Pipeline was placed in service. The amount of each guarantee decreases annually as payments are made by NEXUS to each of the aforementioned counterparties.

NEXUS also entered into certain 15-year capacity agreements for the transportation of natural gas with Vector, an equity method investee of DTE Energy. Pursuant to the terms of those agreements, in October 2018, DTE Energy executed a guarantee agreement with Vector, with a maximum potential payment totaling $7 million at September 30, 2019, representing 50% of the first-year payment obligations due and payable by NEXUS. The guarantee terminates at the earlier of (i) such time as all of the guaranteed obligations have been fully performed or (ii) 15 years from the date DTE Energy entered into the guarantee.

Should NEXUS fail to perform under the terms of these agreements, DTE Energy is required to perform on its behalf. Payments under these guarantees are considered remote.

Other Guarantees

In certain limited circumstances, the Registrants enter into contractual guarantees. The Registrants may guarantee another entity’s obligation in the event it fails to perform and may provide guarantees in certain indemnification agreements. Finally, the Registrants may provide indirect guarantees for the indebtedness of others. DTE Energy’s guarantees are not individually material with maximum potential payments totaling $56 million at September 30, 2019. Payments under these guarantees are considered remote.

DTE Energy is periodically required to obtain performance surety bonds in support of obligations to various governmental entities and other companies in connection with its operations. As of September 30, 2019, DTE Energy had $108 million of performance bonds outstanding. In the event that such bonds are called for nonperformance, DTE Energy would be obligated to reimburse the issuer of the performance bond. DTE Energy is released from the performance bonds as the contractual performance is completed and does not believe that a material amount of any currently outstanding performance bonds will be called.

Vector Line of Credit

In July 2019, DTE Energy, as lender, entered into a revolving term credit facility with Vector, as borrower, in the amount of C$70 million. The credit facility was executed in response to the passage of Canadian regulations requiring oil and gas pipelines to demonstrate their financial ability to respond to a catastrophic event and exists for the sole purpose of satisfying these regulations. Vector may only draw upon the facility if the funds are required to respond to a catastrophic event. The maximum potential payments under the line of credit at September 30, 2019 is $53 million. The funding of a loan under the terms of the credit facility is considered remote.

Labor Contracts

There are several bargaining units for DTE Energy subsidiaries' approximate 5,200 represented employees, including DTE Electric's approximate 2,800 represented employees. The majority of the represented employees are under contracts that expire in 2020 and 2021.

Purchase Commitments

Utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees will be approximately $5.9 billion and $2.2 billion in 2019 for DTE Energy and DTE Electric, respectively. The Registrants have made certain commitments in connection with the estimated 2019 annual capital expenditures and contributions to equity method investees.

Bankruptcies

DTE Energy's Power and Industrial Projects segment holds ownership interests in, and operates, five generating plants that sell electric output from renewable sources under long-term power purchase agreements with PG&E. PG&E filed for Chapter 11 bankruptcy protection on January 29, 2019. As of September 30, 2019, PG&E's account is substantially current and outstanding accounts receivable from PG&E are not material. Therefore, DTE Energy determined no reserve was necessary.

As of September 30, 2019, the book value of long-lived assets used in producing electric output for sale to PG&E was approximately $102 million. The Power and Industrial Projects segment also has equity investments, including a note receivable, of approximately $72 million in entities that sell power to PG&E. In January 2019, following the bankruptcy filing, DTE Energy performed an impairment analysis on its long-lived assets. Based on its undiscounted cash flow projections, DTE Energy determined it did not have an impairment loss as of December 31, 2018. DTE Energy also determined there was not an other-than-temporary decline in its equity investments. There were no other new events occurring during the nine months ended September 30, 2019, that would negatively impact the assumptions made within the December 31, 2018 impairment analysis. Therefore, no triggering events were identified. DTE Energy's assumptions and conclusions may change, and it could have impairment losses if any of the terms of the contracts are not honored by PG&E or the contracts are rejected through the bankruptcy process.

Other Contingencies

The Registrants are involved in certain other legal, regulatory, administrative, and environmental proceedings before various courts, arbitration panels, and governmental agencies concerning claims arising in the ordinary course of business. These proceedings include certain contract disputes, additional environmental reviews and investigations, audits, inquiries from various regulators, and pending judicial matters. The Registrants cannot predict the final disposition of such proceedings. The Registrants regularly review legal matters and record provisions for claims that they can estimate and are considered probable of loss. The resolution of these pending proceedings is not expected to have a material effect on the Registrants' Consolidated Financial Statements in the periods they are resolved.

For a discussion of contingencies related to regulatory matters and derivatives, see Notes 6 and 9 to the Consolidated Financial Statements, "Regulatory Matters" and "Financial and Other Derivative Instruments," respectively.

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Financial and Other Derivative Instruments

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial and Other Derivative Instruments

FINANCIAL AND OTHER DERIVATIVE INSTRUMENTS

The Registrants recognize all derivatives at their fair value as Derivative assets or liabilities on their respective Consolidated Statements of Financial Position unless they qualify for certain scope exceptions, including the normal purchases and normal sales exception. Further, derivatives that qualify and are designated for hedge accounting are classified as either hedges of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge); or as hedges of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). For cash flow hedges, the portion of the derivative gain or loss that is effective in offsetting the change in the value of the underlying exposure is deferred in Accumulated other comprehensive income (loss) and later reclassified into earnings when the underlying transaction occurs. Gains or losses from the ineffective portion of cash flow hedges are recognized in earnings immediately. For fair value hedges, changes in fair values for the derivative and hedged item are recognized in earnings each period. For derivatives that do not qualify or are not designated for hedge accounting, changes in fair value are recognized in earnings each period.

The Registrants' primary market risk exposure is associated with commodity prices, credit, and interest rates. The Registrants have risk management policies to monitor and manage market risks. The Registrants use derivative instruments to manage some of the exposure. DTE Energy uses derivative instruments for trading purposes in its Energy Trading segment. Contracts classified as derivative instruments include electricity, natural gas, oil, certain coal forwards, futures, options, swaps, and foreign currency exchange contracts. Items not classified as derivatives include natural gas inventory, pipeline transportation contracts, renewable energy credits, and natural gas storage assets.

DTE Electric — DTE Electric generates, purchases, distributes, and sells electricity. DTE Electric uses forward contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. Other derivative contracts are MTM and recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized.

DTE Gas — DTE Gas purchases, stores, transports, distributes, and sells natural gas and sells storage and transportation capacity. DTE Gas has fixed-priced contracts for portions of its expected natural gas supply requirements through March 2022. Substantially all of these contracts meet the normal purchases and normal sales exception and are therefore accounted for under the accrual method. DTE Gas may also sell forward transportation and storage capacity contracts. Forward transportation and storage contracts are generally not derivatives and are therefore accounted for under the accrual method.

Gas Storage and Pipelines — This segment is primarily engaged in services related to the gathering, transportation, and storage of natural gas. Primarily fixed-priced contracts are used in the marketing and management of transportation and storage services. Generally, these contracts are not derivatives and are therefore accounted for under the accrual method.

Power and Industrial Projects — This segment manages and operates energy and pulverized coal projects, a coke battery, reduced emissions fuel projects, renewable gas recovery, and power generation assets. Primarily fixed-price contracts are used in the marketing and management of the segment assets. These contracts are generally not derivatives and are therefore accounted for under the accrual method.

Energy Trading — Commodity Price Risk — Energy Trading markets and trades electricity, natural gas physical products, and energy financial instruments, and provides energy and asset management services utilizing energy commodity derivative instruments. Forwards, futures, options, and swap agreements are used to manage exposure to the risk of market price and volume fluctuations in its operations. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.

Energy Trading — Foreign Currency Exchange Risk — Energy Trading has foreign currency exchange forward contracts to economically hedge fixed Canadian dollar commitments existing under natural gas and power purchase and sale contracts and natural gas transportation contracts. Energy Trading enters into these contracts to mitigate price volatility with respect to fluctuations of the Canadian dollar relative to the U.S. dollar. These derivatives are accounted for by recording changes in fair value to earnings unless hedge accounting criteria are met.

Corporate and Other — Interest Rate Risk — DTE Energy may use interest rate swaps, treasury locks, and other derivatives to hedge the risk associated with interest rate market volatility.

Credit Risk — DTE Energy maintains credit policies that significantly minimize overall credit risk. These policies include an evaluation of potential customers’ and counterparties’ financial condition, including the viability of underlying productive assets, credit rating, collateral requirements, or other credit enhancements such as letters of credit or guarantees. DTE Energy generally uses standardized agreements that allow the netting of positive and negative transactions associated with a single counterparty. DTE Energy maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends, and other information. Based on DTE Energy's credit policies and its September 30, 2019 provision for credit losses, DTE Energy’s exposure to counterparty nonperformance is not expected to have a material adverse effect on DTE Energy's Consolidated Financial Statements.

Derivative Activities

DTE Energy manages its MTM risk on a portfolio basis based upon the delivery period of its contracts and the individual components of the risks within each contract. Accordingly, it records and manages the energy purchase and sale obligations under its contracts in separate components based on the commodity (e.g. electricity or natural gas), the product (e.g. electricity for delivery during peak or off-peak hours), the delivery location (e.g. by region), the risk profile (e.g. forward or option), and the delivery period (e.g. by month and year). The following describes the categories of activities represented by their operating characteristics and key risks:

• Asset Optimization — Represents derivative activity associated with assets owned and contracted by DTE Energy, including forward natural gas purchases and sales, natural gas transportation, and storage capacity. Changes in the value of derivatives in this category typically economically offset changes in the value of underlying non-derivative positions, which do not qualify for fair value accounting. The difference in accounting treatment of derivatives in this category and the underlying non-derivative positions can result in significant earnings volatility.

• Marketing and Origination — Represents derivative activity transacted by originating substantially hedged positions with wholesale energy marketers, producers, end-users, utilities, retail aggregators, and alternative energy suppliers.

• Fundamentals Based Trading — Represents derivative activity transacted with the intent of taking a view, capturing market price changes, or putting capital at risk. This activity is speculative in nature as opposed to hedging an existing exposure.

• Other — Includes derivative activity at DTE Electric related to FTRs. Changes in the value of derivative contracts at DTE Electric are recorded as Derivative assets or liabilities, with an offset to Regulatory assets or liabilities as the settlement value of these contracts will be included in the PSCR mechanism when realized.

The following table presents the fair value of derivative instruments for DTE Energy:

	September 30, 2019					December 31, 2018
	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
	(In millions)
Derivatives designated as hedging instruments
Interest rate contracts	$	—	$	—		$	—	$	(3	)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas	$	253	$	(297	)	$	349	$	(380	)
Electricity	164		(155		)	303		(285		)
Other	10		(8		)	7		(1		)
Foreign currency exchange contracts	2		—			4		—
Total derivatives not designated as hedging instruments	$	429	$	(460	)	$	663	$	(666	)
Current	$	346	$	(339	)	$	563	$	(518	)
Noncurrent	83		(121		)	100		(151		)
Total derivatives	$	429	$	(460	)	$	663	$	(669	)

The following table presents the fair value of derivative instruments for DTE Electric:

	September 30, 2019		December 31, 2018
	(In millions)
FTRs — Other current assets	$	5	$	6
Total derivatives not designated as hedging instruments	$	5	$	6

Certain of DTE Energy's derivative positions are subject to netting arrangements which provide for offsetting of asset and liability positions as well as related cash collateral. Such netting arrangements generally do not have restrictions. Under such netting arrangements, DTE Energy offsets the fair value of derivative instruments with cash collateral received or paid for those contracts executed with the same counterparty, which reduces DTE Energy's Total Assets and Liabilities. Cash collateral is allocated between the fair value of derivative instruments and customer accounts receivable and payable with the same counterparty on a pro-rata basis to the extent there is exposure. Any cash collateral remaining, after the exposure is netted to zero, is reflected in Accounts receivable and Accounts payable as collateral paid or received, respectively.

DTE Energy also provides and receives collateral in the form of letters of credit which can be offset against net Derivative assets and liabilities as well as Accounts receivable and payable. DTE Energy had issued letters of credit of $2 million and $4 million outstanding at September 30, 2019 and December 31, 2018, respectively, which could be used to offset net Derivative liabilities. Letters of credit received from third parties which could be used to offset net Derivative assets were $6 million and $8 million at September 30, 2019 and December 31, 2018, respectively. Such balances of letters of credit are excluded from the tables below and are not netted with the recognized assets and liabilities in DTE Energy's Consolidated Statements of Financial Position.

For contracts with certain clearing agents, the fair value of derivative instruments is netted against realized positions with the net balance reflected as either 1) a Derivative asset or liability or 2) an Account receivable or payable. Other than certain clearing agents, Accounts receivable and Accounts payable that are subject to netting arrangements have not been offset against the fair value of Derivative assets and liabilities.

The following table presents net cash collateral offsetting arrangements for DTE Energy:

	September 30, 2019			December 31, 2018
	(In millions)
Cash collateral netted against Derivative assets	$	—		$	(17	)
Cash collateral recorded in Accounts receivable(a)	9			10
Cash collateral recorded in Accounts payable(a)	(6		)	(6		)
Total net cash collateral posted (received)	$	3		$	(13	)

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(a) Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:

	September 30, 2019									December 31, 2018
	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
Natural gas	$	253		$	(189	)	$	64		$	349		$	(277	)	$	72
Electricity	164			(124		)	40			303			(252		)	51
Other	10			(5		)	5			7			(1		)	6
Foreign currency exchange contracts	2			—			2			4			—			4
Total derivative assets	$	429		$	(318	)	$	111		$	663		$	(530	)	$	133
Derivative liabilities
Commodity contracts
Natural gas	$	(297	)	$	189		$	(108	)	$	(380	)	$	272		$	(108	)
Electricity	(155		)	124			(31		)	(285		)	240			(45		)
Other	(8		)	5			(3		)	(1		)	1			—
Interest rate contracts	—			—			—			(3		)	—			(3		)
Total derivative liabilities	$	(460	)	$	318		$	(142	)	$	(669	)	$	513		$	(156	)

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:

	September 30, 2019												December 31, 2018
	Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
	Current			Noncurrent			Current			Noncurrent			Current			Noncurrent			Current			Noncurrent
	(In millions)
Total fair value of derivatives	$	346		$	83		$	(339	)	$	(121	)	$	563		$	100		$	(518	)	$	(151	)
Counterparty netting	(271		)	(47		)	271			47			(451		)	(62		)	451			62
Collateral adjustment	—			—			—			—			(10		)	(7		)	—			—
Total derivatives as reported	$	75		$	36		$	(68	)	$	(74	)	$	102		$	31		$	(67	)	$	(89	)

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 the Three Months Ended September 30,						Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
		2019			2018			2019			2018
		(In millions)
Commodity contracts
Natural gas	Operating Revenues — Non-utility operations	$	(5	)	$	(29	)	$	4		$	(51	)
Natural gas	Fuel, purchased power, and gas — non-utility	(47		)	(6		)	(7		)	(74		)
Electricity	Operating Revenues — Non-utility operations	54			26			21			37
Other	Operating Revenues — Non-utility operations	(11		)	—			(11		)	1
Foreign currency exchange contracts	Operating Revenues — Non-utility operations	1			(2		)	(2		)	2
Total		$	(8	)	$	(11	)	$	5		$	(85	)

Revenues and energy costs related to trading contracts are presented on a net basis in DTE Energy's Consolidated Statements of Operations. Commodity derivatives used for trading purposes, and financial non-trading commodity derivatives, are accounted for using the MTM method with unrealized and realized gains and losses recorded in Operating Revenues — Non-utility operations. Non-trading physical commodity sale and purchase derivative contracts are generally accounted for using the MTM method with unrealized and realized gains and losses for sales recorded in Operating Revenues — Non-utility operations and purchases recorded in Fuel, purchased power, and gas — non-utility.

The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2019:

Commodity	Number of Units
Natural gas (MMBtu)	2,018,659,087
Electricity (MWh)	30,880,332
Foreign currency exchange (CAD)	79,292,076

Various subsidiaries of DTE Energy have entered into contracts which contain ratings triggers and are guaranteed by DTE Energy. These contracts contain provisions which allow the counterparties to require that DTE Energy post cash or letters of credit as collateral in the event that DTE Energy’s credit rating is downgraded below investment grade. Certain of these provisions (known as "hard triggers") state specific circumstances under which DTE Energy can be required to post collateral upon the occurrence of a credit downgrade, while other provisions (known as "soft triggers") are not as specific. For contracts with soft triggers, it is difficult to estimate the amount of collateral which may be requested by counterparties and/or which DTE Energy may ultimately be required to post. The amount of such collateral which could be requested fluctuates based on commodity prices (primarily natural gas, power, and coal) and the provisions and maturities of the underlying transactions. As of September 30, 2019, DTE Energy's contractual obligation to post collateral in the form of cash or letters of credit in the event of a downgrade to below investment grade, under both hard trigger and soft trigger provisions, was $517 million.

As of September 30, 2019, DTE Energy had $364 million of derivatives in net liability positions, for which hard triggers exist. There is no collateral that has been posted against such liabilities, including cash and letters of credit. Associated derivative net asset positions for which contractual offset exists were $304 million. The net remaining amount of $60 million is derived from the $517 million noted above.

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Revenue

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Disaggregation of Revenue

The following is a summary of revenues disaggregated by segment for DTE Energy:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Electric(a)
Residential	$	791	$	773	$	1,839	$	1,943
Commercial	515		495		1,358		1,370
Industrial	175		173		497		527
Other(b)	39		80		251		162
Total Electric operating revenues(c)	$	1,520	$	1,521	$	3,945	$	4,002
Gas
Gas sales	$	87	$	89	$	727	$	726
End User Transportation	35		34		157		168
Intermediate Transportation	15		9		57		38
Other(b)	18		32		102		37
Total Gas operating revenues(d)	$	155	$	164	$	1,043	$	969
Other segment operating revenues
Gas Storage and Pipelines(e)	$	126	$	122	$	363	$	363
Power and Industrial Projects(f)	$	406	$	612	$	1,196	$	1,717
Energy Trading(g)	$	1,105	$	1,332	$	3,519	$	3,994

_______________________________________

(a) Revenues under the Electric segment generally represent those of DTE Electric.

(b) Includes revenue adjustments related to various regulatory mechanisms.

(c) Includes $5 million and $6 million of other revenues outside the scope of Topic 606 for the three months ended September 30, 2019 and 2018, respectively, and $14 million and $15 million for the nine months ended September 30, 2019 and 2018, respectively.

(d) Includes $4 million under Alternative Revenue Programs for the nine months ended September 30, 2018. Also includes $2 million of other revenues for the three months ended September 30, 2019 and 2018 and $6 million for the nine months ended September 30, 2019 and 2018, which are both outside the scope of Topic 606.

(e) Includes revenues outside the scope of Topic 606 primarily related to $2 million and $7 million of contracts accounted for as leases for the three and nine months ended September 30, 2019, respectively.

(f) Includes revenues outside the scope of Topic 606 primarily related to $33 million and $37 million of contracts accounted for as leases for the three months ended September 30, 2019 and 2018, respectively, and $94 million and $93 million for the nine months ended September 30, 2019 and 2018, respectively.

(g) Includes revenues outside the scope of Topic 606 primarily related to $791 million and $1.1 billion of derivatives for the three months ended September 30, 2019 and 2018, respectively, and $2.6 billion and $3.2 billion of derivatives for the nine months ended September 30, 2019 and 2018, respectively.

Deferred Revenue

The following is a summary of deferred revenue activity:

	DTE Energy
	(In millions)
Beginning Balance, January 1, 2019	$	74
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	41
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(50		)
Ending Balance, September 30, 2019	$	65

The deferred revenues at DTE Energy generally represent amounts paid by or receivable from customers for which the associated performance obligation has not yet been satisfied.

Deferred revenues include amounts associated with REC performance obligations under certain wholesale full requirements power contracts. Deferred revenues associated with RECs are recognized as revenue when control of the RECs has transferred.

Other performance obligations associated with deferred revenues include providing products and services related to customer prepayments. Deferred revenues associated with these products and services are recognized when control has transferred to the customer.

The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:

	DTE Energy
	(In millions)
2019	$	9
2020	25
2021	6
2022	7
2023	6
2024 and thereafter	12
	$	65

Transaction Price Allocated to the Remaining Performance Obligations

In accordance with optional exemptions available under Topic 606, the Registrants did not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Registrants have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation.

Such contracts consist of varying types of performance obligations across the segments, including the supply and delivery of energy related products and services. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Contract lengths vary from cancelable to multi-year.

The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:

	DTE Energy		DTE Electric
	(In millions)
2019	$	52	$	3
2020	290		—
2021	269		—
2022	206		—
2023	142		—
2024 and thereafter	648		—
	$	1,607	$	3

Other Matters

The following table represents expenses recognized for estimated uncollectible accounts receivable:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
DTE Energy	$	28	$	39	$	81	$	95
DTE Electric	$	17	$	26	$	47	$	57

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Organization and Basis of Presentation

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

ORGANIZATION AND BASIS OF PRESENTATION

Corporate Structure

DTE Energy owns the following businesses:

• DTE Electric is a public utility engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.2 million customers in southeastern Michigan;

• DTE Gas is a public utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million customers throughout Michigan and the sale of storage and transportation capacity; and

• Other businesses primarily involved in 1) services related to the gathering, transportation, and storage of natural gas; 2) power and industrial projects; and 3) energy marketing and trading operations.

DTE Electric and DTE Gas are regulated by the MPSC. Certain activities of DTE Electric and DTE Gas, as well as various other aspects of businesses under DTE Energy, are regulated by the FERC. In addition, the Registrants are regulated by other federal and state regulatory agencies including the NRC, the EPA, EGLE, and for DTE Energy, the CFTC.

Basis of Presentation

The Consolidated Financial Statements should be read in conjunction with the Combined Notes to Consolidated Financial Statements included in the combined DTE Energy and DTE Electric 2018 Annual Report on Form 10-K.

The accompanying Consolidated Financial Statements of the Registrants are prepared using accounting principles generally accepted in the United States of America. These accounting principles require management to use estimates and assumptions that impact reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from the Registrants' estimates.

The Consolidated Financial Statements are unaudited but, in the Registrants' opinions, include all adjustments necessary to present a fair statement of the results for the interim periods. All adjustments are of a normal recurring nature, except as otherwise disclosed in these Consolidated Financial Statements and Combined Notes to Consolidated Financial Statements. Financial results for this interim period are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2019.

The information in these combined notes relates to each of the Registrants as noted in the Index of Combined Notes to Consolidated Financial Statements. However, DTE Electric does not make any representation as to information related solely to DTE Energy or the subsidiaries of DTE Energy other than itself.

Certain prior year balances for the Registrants were reclassified to match the current year's Consolidated Financial Statements presentation.

Principles of Consolidation

The Registrants consolidate all majority-owned subsidiaries and investments in entities in which they have controlling influence. Non-majority owned investments are accounted for using the equity method when the Registrants are able to significantly influence the operating policies of the investee. When the Registrants do not influence the operating policies of an investee, the cost method is used. These Consolidated Financial Statements also reflect the Registrants' proportionate interests in certain jointly-owned utility plants. The Registrants eliminate all intercompany balances and transactions.

The Registrants evaluate whether an entity is a VIE whenever reconsideration events occur. The Registrants consolidate VIEs for which they are the primary beneficiary. If a Registrant is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, a Registrant considers all relevant facts and circumstances, including: the power, through voting or similar rights, to direct the activities of the VIE that most significantly impact the VIE's economic performance and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. The Registrants perform ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed.

Legal entities within DTE Energy's Power and Industrial Projects segment enter into long-term contractual arrangements with customers to supply energy-related products or services. The entities are generally designed to pass-through the commodity risk associated with these contracts to the customers, with DTE Energy retaining operational and customer default risk. These entities generally are VIEs and consolidated when DTE Energy is the primary beneficiary. In addition, DTE Energy has interests in certain VIEs through which control of all significant activities is shared with partners, and therefore are generally accounted for under the equity method.

DTE Energy currently owns an 85% interest in SGG, which owns and operates midstream natural gas assets. SGG has contracts through which certain construction risk is designed to pass-through to the customers, with DTE Energy retaining operational and customer default risk. SGG is a VIE with DTE Energy as the primary beneficiary.

The Registrants have variable interests in NEXUS, which include DTE Energy's 50% ownership interest and DTE Electric's transportation services contract. NEXUS is a joint venture which owns a 256-mile pipeline to transport Utica and Marcellus shale gas to Ohio, Michigan, and Ontario market centers. NEXUS also owns Generation Pipeline, LLC, a 23-mile regulated pipeline system located in northern Ohio, which was acquired in September 2019. Refer to Note 4, "Acquisitions," for additional information. NEXUS is a VIE as it has insufficient equity at risk to finance its activities. The Registrants are not the primary beneficiaries, as the power to direct significant activities is shared between the owners of the equity interests. DTE Energy accounts for its ownership interest in NEXUS under the equity method.

The Registrants hold ownership interests in certain limited partnerships. The limited partnerships include investment funds which support regional development and economic growth, as well as, an operational business providing energy-related products. These entities are generally VIEs as a result of certain characteristics of the limited partnership voting rights. The ownership interests are accounted for under the equity method as the Registrants are not the primary beneficiaries.

DTE Energy has variable interests in VIEs through certain of its long-term purchase and sale contracts. DTE Electric has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2019, the carrying amount of assets and liabilities in DTE Energy's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase and sale contracts are predominantly related to working capital accounts and generally represent the amounts owed by or to DTE Energy for the deliveries associated with the current billing cycle under the contracts. As of September 30, 2019, the carrying amount of assets and liabilities in DTE Electric's Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominantly related to working capital accounts and generally represent the amounts owed by DTE Electric for the deliveries associated with the current billing cycle under the contracts. The Registrants have not provided any significant form of financial support associated with these long-term contracts. There is no significant potential exposure to loss as a result of DTE Energy's variable interests through these long-term purchase and sale contracts. In addition, there is no significant potential exposure to loss as a result of DTE Electric's variable interests through these long-term purchase contracts.

The maximum risk exposure for consolidated VIEs is reflected on the Registrants' Consolidated Statements of Financial Position and, for DTE Energy, in Note 13 to the Consolidated Financial Statements, "Commitments and Contingencies," related to the REF guarantees and indemnities. For non-consolidated VIEs, the maximum risk exposure of the Registrants is generally limited to their investment, notes receivable, future funding commitments, and amounts which DTE Energy has guaranteed. See Note 13 to the Consolidated Financial Statements, "Commitments and Contingencies," for further discussion of the NEXUS guarantee arrangements.

The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2019 and December 31, 2018. All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below.

Amounts for DTE Energy's consolidated VIEs are as follows:

	September 30, 2019						December 31, 2018
	SGG(a)		Other		Total		SGG(a)		Other		Total
	(In millions)
ASSETS
Cash and cash equivalents	$	20	$	12	$	32	$	25	$	14	$	39
Restricted cash	—		—		—		—		5		5
Accounts receivable	10		27		37		9		37		46
Inventories	—		97		97		1		92		93
Property, plant, and equipment, net	406		36		442		395		46		441
Goodwill	25		—		25		25		—		25
Intangible assets	546		—		546		557		—		557
Other current and long-term assets	1		—		1		3		—		3
	$	1,008	$	172	$	1,180	$	1,015	$	194	$	1,209
LIABILITIES
Accounts payable and accrued current liabilities	$	5	$	18	$	23	$	3	$	31	$	34
Other current and long-term liabilities	6		7		13		9		10		19
	$	11	$	25	$	36	$	12	$	41	$	53

_____________________________________

(a)Amounts shown are 100% of SGG's assets and liabilities, of which DTE Energy owns 85% at September 30, 2019 and 55% at December 31, 2018.

Amounts for DTE Energy's non-consolidated VIEs are as follows:

	September 30, 2019		December 31, 2018
	(In millions)
Investments in equity method investees	$	1,487	$	1,425
Notes receivable	$	26	$	15
Future funding commitments	$	55	$	55

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Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	DTE Electric	DTE Electric Common Stock	DTE Electric Additional Paid-in Capital	DTE Electric Retained Earnings	DTE Electric Accumulated Other Comprehensive Income (Loss)
Beginning Balance (in shares) at Dec. 31, 2017		179,387,000					138,632,000
Beginning Balance at Dec. 31, 2017	$ 9,990	$ 3,989	$ 5,643	$ (120)	$ 478
Beginning Balance at Dec. 31, 2017						$ 6,265	$ 1,386	$ 2,920	$ 1,956	$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						140			140
Net Income (Loss)	351		361		(10)
Dividends declared on common stock	(160)		(160)			(115)			(115)
Contribution of common stock to pension plan (in shares)		1,751,000
Contribution of common stock to pension plan	175	$ 175
Other comprehensive income (loss), net of tax	2			2
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other (in shares)		345,000
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other	5	$ (1)	(1)		7
Ending Balance (in shares) at Mar. 31, 2018		181,483,000					138,632,000
Ending Balance at Mar. 31, 2018	10,363	$ 4,163	5,848	(123)	475
Ending Balance at Mar. 31, 2018						6,290	$ 1,386	2,920	1,984	0
Beginning Balance (in shares) at Dec. 31, 2017		179,387,000					138,632,000
Beginning Balance at Dec. 31, 2017	9,990	$ 3,989	5,643	(120)	478
Beginning Balance at Dec. 31, 2017						6,265	$ 1,386	2,920	1,956	3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	929					608
Net Income (Loss)	922
Other comprehensive income (loss), net of tax	7					0
Ending Balance (in shares) at Sep. 30, 2018		181,925,000					138,632,000
Ending Balance at Sep. 30, 2018	10,690	$ 4,232	6,093	(118)	483
Ending Balance at Sep. 30, 2018						6,527	$ 1,386	2,920	2,221	0
Beginning Balance (in shares) at Mar. 31, 2018		181,483,000					138,632,000
Beginning Balance at Mar. 31, 2018	10,363	$ 4,163	5,848	(123)	475
Beginning Balance at Mar. 31, 2018						6,290	$ 1,386	2,920	1,984	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						163			163
Net Income (Loss)	236		234		2
Dividends declared on common stock	(321)		(321)			(115)			(115)
Issuance of common stock (in shares)		160,000
Issuance of common stock	16	$ 16
Other comprehensive income (loss), net of tax	2			2
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other (in shares)		130,000
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other	22	$ 26	(1)		(3)
Ending Balance (in shares) at Jun. 30, 2018		181,773,000					138,632,000
Ending Balance at Jun. 30, 2018	10,318	$ 4,205	5,760	(121)	474
Ending Balance at Jun. 30, 2018						6,338	$ 1,386	2,920	2,032	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	334					305			305
Net Income (Loss)	335		334		1
Dividends declared on common stock						(116)			(116)
Issuance of common stock (in shares)		95,000
Issuance of common stock	10	$ 10
Other comprehensive income (loss), net of tax	3			3		0
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other (in shares)		57,000
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other	24	$ 17	(1)		8
Ending Balance (in shares) at Sep. 30, 2018		181,925,000					138,632,000
Ending Balance at Sep. 30, 2018	$ 10,690	$ 4,232	6,093	(118)	483
Ending Balance at Sep. 30, 2018						$ 6,527	$ 1,386	2,920	2,221	$ 0
Beginning Balance (in shares) at Dec. 31, 2018	181,925,281	181,925,000				138,632,324	138,632,000
Beginning Balance at Dec. 31, 2018	$ 10,717	$ 4,245	6,112	(120)	480
Beginning Balance at Dec. 31, 2018	10,237					$ 6,793	$ 1,386	3,245	2,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						147			147
Net Income (Loss)	408		401		7
Dividends declared on common stock	(173)		(173)			(124)			(124)
Contribution of common stock to pension plan (in shares)		815,000
Contribution of common stock to pension plan	100	$ 100
Other comprehensive income (loss), net of tax	2			2
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other (in shares)		472,000
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other	(34)	$ (21)	(1)		(12)
Ending Balance (in shares) at Mar. 31, 2019		183,212,000					138,632,000
Ending Balance at Mar. 31, 2019	$ 11,020	$ 4,324	6,364	(143)	475
Ending Balance at Mar. 31, 2019						$ 6,816	$ 1,386	3,245	2,185
Beginning Balance (in shares) at Dec. 31, 2018	181,925,281	181,925,000				138,632,324	138,632,000
Beginning Balance at Dec. 31, 2018	$ 10,717	$ 4,245	6,112	(120)	480
Beginning Balance at Dec. 31, 2018	10,237					$ 6,793	$ 1,386	3,245	2,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	902					587
Net Income (Loss)	904
Other comprehensive income (loss), net of tax	$ (1)					$ 0
Ending Balance (in shares) at Sep. 30, 2019	183,396,510	183,397,000				138,632,324	138,632,000
Ending Balance at Sep. 30, 2019	$ 10,904	$ 4,370	6,516	(146)	164
Ending Balance at Sep. 30, 2019	10,740					$ 7,010	$ 1,386	3,245	2,379
Beginning Balance (in shares) at Mar. 31, 2019		183,212,000					138,632,000
Beginning Balance at Mar. 31, 2019	11,020	$ 4,324	6,364	(143)	475
Beginning Balance at Mar. 31, 2019						6,816	$ 1,386	3,245	2,185
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income						133			133
Net Income (Loss)	179		182		(3)
Dividends declared on common stock	(347)		(347)			(123)			(123)
Other comprehensive income (loss), net of tax	(3)			(3)
Purchase of noncontrolling interests, principally SGG	(300)	$ (3)			(297)
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other (in shares)		90,000
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other	20	$ 23	(1)		(2)
Ending Balance (in shares) at Jun. 30, 2019		183,302,000					138,632,000
Ending Balance at Jun. 30, 2019	10,569	$ 4,344	6,198	(146)	173
Ending Balance at Jun. 30, 2019						6,826	$ 1,386	3,245	2,195
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	319					307			307
Net Income (Loss)	317		319		(2)
Dividends declared on common stock						(123)			(123)
Other comprehensive income (loss), net of tax	0					$ 0
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other (in shares)		95,000
Stock-based compensation, net contributions from (distributions to) noncontrolling interests, and other	$ 18	$ 26	(1)		(7)
Ending Balance (in shares) at Sep. 30, 2019	183,396,510	183,397,000				138,632,324	138,632,000
Ending Balance at Sep. 30, 2019	$ 10,904	$ 4,370	$ 6,516	$ (146)	$ 164
Ending Balance at Sep. 30, 2019	$ 10,740					$ 7,010	$ 1,386	$ 3,245	$ 2,379

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Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Tax effect on benefit obligation	$ 2	$ 0	$ 4	$ 2
Tax effect on net unrealized losses on derivatives during the period	$ (1)		$ (4)
Tax effect on net unrealized losses on derivatives during the period		$ 0		$ 0

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Financial and Other Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2019

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:

	September 30, 2019					December 31, 2018
	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
	(In millions)
Derivatives designated as hedging instruments
Interest rate contracts	$	—	$	—		$	—	$	(3	)
Derivatives not designated as hedging instruments
Commodity contracts
Natural gas	$	253	$	(297	)	$	349	$	(380	)
Electricity	164		(155		)	303		(285		)
Other	10		(8		)	7		(1		)
Foreign currency exchange contracts	2		—			4		—
Total derivatives not designated as hedging instruments	$	429	$	(460	)	$	663	$	(666	)
Current	$	346	$	(339	)	$	563	$	(518	)
Noncurrent	83		(121		)	100		(151		)
Total derivatives	$	429	$	(460	)	$	663	$	(669	)

The following table presents the fair value of derivative instruments for DTE Electric:

	September 30, 2019		December 31, 2018
	(In millions)
FTRs — Other current assets	$	5	$	6
Total derivatives not designated as hedging instruments	$	5	$	6

Netting Offsets of Derivative Assets

The following table presents net cash collateral offsetting arrangements for DTE Energy:

	September 30, 2019			December 31, 2018
	(In millions)
Cash collateral netted against Derivative assets	$	—		$	(17	)
Cash collateral recorded in Accounts receivable(a)	9			10
Cash collateral recorded in Accounts payable(a)	(6		)	(6		)
Total net cash collateral posted (received)	$	3		$	(13	)

_______________________________________

(a) Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:

	September 30, 2019									December 31, 2018
	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
Natural gas	$	253		$	(189	)	$	64		$	349		$	(277	)	$	72
Electricity	164			(124		)	40			303			(252		)	51
Other	10			(5		)	5			7			(1		)	6
Foreign currency exchange contracts	2			—			2			4			—			4
Total derivative assets	$	429		$	(318	)	$	111		$	663		$	(530	)	$	133
Derivative liabilities
Commodity contracts
Natural gas	$	(297	)	$	189		$	(108	)	$	(380	)	$	272		$	(108	)
Electricity	(155		)	124			(31		)	(285		)	240			(45		)
Other	(8		)	5			(3		)	(1		)	1			—
Interest rate contracts	—			—			—			(3		)	—			(3		)
Total derivative liabilities	$	(460	)	$	318		$	(142	)	$	(669	)	$	513		$	(156	)

Netting Offsets of Derivative Liabilities

The following table presents net cash collateral offsetting arrangements for DTE Energy:

	September 30, 2019			December 31, 2018
	(In millions)
Cash collateral netted against Derivative assets	$	—		$	(17	)
Cash collateral recorded in Accounts receivable(a)	9			10
Cash collateral recorded in Accounts payable(a)	(6		)	(6		)
Total net cash collateral posted (received)	$	3		$	(13	)

_______________________________________

(a) Amounts are recorded net by counterparty.

The following table presents the netting offsets of Derivative assets and liabilities for DTE Energy:

	September 30, 2019									December 31, 2018
	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
Natural gas	$	253		$	(189	)	$	64		$	349		$	(277	)	$	72
Electricity	164			(124		)	40			303			(252		)	51
Other	10			(5		)	5			7			(1		)	6
Foreign currency exchange contracts	2			—			2			4			—			4
Total derivative assets	$	429		$	(318	)	$	111		$	663		$	(530	)	$	133
Derivative liabilities
Commodity contracts
Natural gas	$	(297	)	$	189		$	(108	)	$	(380	)	$	272		$	(108	)
Electricity	(155		)	124			(31		)	(285		)	240			(45		)
Other	(8		)	5			(3		)	(1		)	1			—
Interest rate contracts	—			—			—			(3		)	—			(3		)
Total derivative liabilities	$	(460	)	$	318		$	(142	)	$	(669	)	$	513		$	(156	)

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:

	September 30, 2019												December 31, 2018
	Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
	Current			Noncurrent			Current			Noncurrent			Current			Noncurrent			Current			Noncurrent
	(In millions)
Total fair value of derivatives	$	346		$	83		$	(339	)	$	(121	)	$	563		$	100		$	(518	)	$	(151	)
Counterparty netting	(271		)	(47		)	271			47			(451		)	(62		)	451			62
Collateral adjustment	—			—			—			—			(10		)	(7		)	—			—
Total derivatives as reported	$	75		$	36		$	(68	)	$	(74	)	$	102		$	31		$	(67	)	$	(89	)

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 the Three Months Ended September 30,						Gain (Loss) Recognized in Income on Derivatives for the Nine Months Ended September 30,
		2019			2018			2019			2018
		(In millions)
Commodity contracts
Natural gas	Operating Revenues — Non-utility operations	$	(5	)	$	(29	)	$	4		$	(51	)
Natural gas	Fuel, purchased power, and gas — non-utility	(47		)	(6		)	(7		)	(74		)
Electricity	Operating Revenues — Non-utility operations	54			26			21			37
Other	Operating Revenues — Non-utility operations	(11		)	—			(11		)	1
Foreign currency exchange contracts	Operating Revenues — Non-utility operations	1			(2		)	(2		)	2
Total		$	(8	)	$	(11	)	$	5		$	(85	)

Volume of Commodity Contracts

The following represents the cumulative gross volume of DTE Energy's derivative contracts outstanding as of September 30, 2019:

Commodity	Number of Units
Natural gas (MMBtu)	2,018,659,087
Electricity (MWh)	30,880,332
Foreign currency exchange (CAD)	79,292,076

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Retirement Benefits and Trusteed Assets (Tables)

9 Months Ended

Sep. 30, 2019

Defined Benefit Plan [Abstract]

Schedule of Net Periodic Benefit Costs (Credits)

The following tables detail the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:

	Other Postretirement Benefits
	Three Months Ended September 30,
	2019			2018
	(In millions)
Service cost	$	4		$	5
Interest cost	13			13
Expected return on plan assets	(21		)	(25		)
Amortization of:
Net actuarial loss	1			3
Prior service credit	(1		)	—
Net periodic benefit credit	$	(4	)	$	(4	)

	Other Postretirement Benefits
	Nine Months Ended September 30,
	2019			2018
	(In millions)
Service cost	$	12		$	15
Interest cost	40			40
Expected return on plan assets	(63		)	(74		)
Amortization of:
Net actuarial loss	3			7
Prior service credit	(5		)	—
Net periodic benefit credit	$	(13	)	$	(12	)

The following tables detail the components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits for DTE Energy:

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Service cost	$	21		$	24		$	5		$	6
Interest cost	55			51			18			18
Expected return on plan assets	(82		)	(82		)	(30		)	(36		)
Amortization of:
Net actuarial loss	33			43			3			3
Prior service credit	—			—			(3		)	—
Net periodic benefit cost (credit)	$	27		$	36		$	(7	)	$	(9	)

	Pension Benefits						Other Postretirement Benefits
	Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Service cost	$	63		$	74		$	16		$	20
Interest cost	164			151			53			52
Expected return on plan assets	(244		)	(247		)	(92		)	(107		)
Amortization of:
Net actuarial loss	99			132			9			8
Prior service credit	—			—			(7		)	—
Net periodic benefit cost (credit)	$	82		$	110		$	(21	)	$	(27	)

Schedule of Defined Benefit Plans Disclosures

During 2019, DTE Energy contributed the following amounts of DTE Energy common stock to the DTE Energy Company Affiliates Employee Benefit Plans Master Trust:

Date	Number of Shares	Price per Share		Amount
				(In millions)
March 5, 2019	814,597	$	122.76	$	100

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Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Basic Earnings per Share
Net Income Attributable to DTE Energy Company	$ 319	$ 334	$ 902	$ 929
Less: Allocation of earnings to net restricted stock awards	1	1	2	2
Net income available to common shareholders — basic	$ 318	$ 333	$ 900	$ 927
Average number of common shares outstanding — basic (in shares)	183.0	182.0	183.0	181.0
Basic Earnings per Common Share (in dollars per share)	$ 1.74	$ 1.84	$ 4.93	$ 5.13
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company	$ 319	$ 334	$ 902	$ 929
Less: Allocation of earnings to net restricted stock awards	1	1	2	2
Net income available to common shareholders — diluted	$ 318	$ 333	$ 900	$ 927
Average number of common shares outstanding — basic (in shares)	183.0	182.0	183.0	181.0
Incremental shares attributable to:
Average dilutive equity units, performance share awards, and stock options (in shares)	1.0	0.0	1.0	0.0
Average number of common shares outstanding — diluted (in shares)	184.0	182.0	184.0	181.0
Diluted Earnings per Common Share (in dollars per share)	$ 1.73	$ 1.84	$ 4.91	$ 5.13
Antidilutive securities excluded from computation of earnings per share (in shares)		6.2		6.4

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Revenue (Expected Recognition of Deferred Revenue) (Details) $ in Millions	Sep. 30, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 9
Remaining performance obligation, expected timing of satisfaction	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 25
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 7
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 12
Remaining performance obligation, expected timing of satisfaction
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 65

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Leases (Future Minimum Lease Payments - Topic 842) (Details) $ in Millions	Sep. 30, 2019 USD ($)
Operating Leases
2019	$ 10
2020	35
2021	26
2022	19
2023	16
2024 and thereafter	62
Total future minimum lease payments	168
Imputed interest	(30)
Total	138
Finance Leases
2019	1
2020	4
2021	3
2022	0
2023	0
2024 and thereafter	0
Total future minimum lease payments	8
Imputed interest	0
Total	8
DTE Electric
Operating Leases
2019	4
2020	13
2021	11
2022	7
2023	6
2024 and thereafter	30
Total future minimum lease payments	71
Imputed interest	(13)
Total	58
Finance Leases
2019	1
2020	4
2021	3
2022	0
2023	0
2024 and thereafter	0
Total future minimum lease payments	8
Imputed interest	0
Total	$ 8

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Financial and Other Derivative Instruments (Netting Offsets Reconciliation to Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Assets
Derivative Assets	$ 429	$ 663
Collateral adjustment	0	(17)
Derivative assets, current	75	102
Derivative assets, noncurrent	36	31
Derivative Liabilities
Derivative Liabilities	(460)	(669)
Derivative liabilities, current	(68)	(67)
Derivative liabilities, noncurrent	(74)	(89)
Current derivative assets
Derivative Assets
Derivative Assets	346	563
Counterparty netting	(271)	(451)
Collateral adjustment	0	(10)
Derivative assets, current	75	102
Noncurrent derivative assets
Derivative Assets
Derivative Assets	83	100
Counterparty netting	(47)	(62)
Collateral adjustment	0	(7)
Derivative assets, noncurrent	36	31
Current derivative liabilities
Derivative Liabilities
Derivative Liabilities	(339)	(518)
Counterparty netting	271	451
Collateral adjustment	0	0
Derivative liabilities, current	(68)	(67)
Noncurrent derivative liabilities
Derivative Liabilities
Derivative Liabilities	(121)	(151)
Counterparty netting	47	62
Collateral adjustment	0	0
Derivative liabilities, noncurrent	$ (74)	$ (89)

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Long-Term Debt (Narrative) (Details) - USD ($) shares in Thousands		1 Months Ended
	Oct. 01, 2019	Oct. 31, 2019	Sep. 30, 2019	Aug. 31, 2019
Debt Instrument [Line Items]
Debt issued			$ 1,450,000,000
Subsequent event | Stock Purchase Contract, 2016 Series C Equity Units Subject to Mandatory Redemption
Debt Instrument [Line Items]
Shares of common stock issued under stock purchase contracts (in shares)	5,870
Senior Notes | 2016 Series D 1.5% Senior Notes | Subsequent event | DTE Energy
Debt Instrument [Line Items]
Interest rate		1.50%
Securities redeemed at maturity		$ 400,000,000
Senior Notes | Series C, 1.5% RSNs due 2024
Debt Instrument [Line Items]
Debt issued				$ 675,000,000
Interest rate				1.50%
Senior Notes | Series C, Remarketed, 2.529% RSN due 2024 | Subsequent event
Debt Instrument [Line Items]
Interest rate	2.529%
DTE Gas | Mortgage Bonds | October 2019 2.95% First Mortgage Bonds Maturing 2029 | Subsequent event
Debt Instrument [Line Items]
Debt issued		$ 140,000,000
Interest rate		2.95%
DTE Gas | Mortgage Bonds | October 2019 3.72% First Mortgage Bonds Maturing 2049 | Subsequent event
Debt Instrument [Line Items]
Debt issued		$ 140,000,000
Interest rate		3.72%
DTE Gas | Senior Notes | 2004 Series E 5.0% Senior Notes | Subsequent event
Debt Instrument [Line Items]
Interest rate		5.00%
Securities redeemed at maturity		$ 120,000,000

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Leases (Minimum Future Rental Revenues under Operating Leases) (Details) $ in Millions	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019	$ 16
2020	66
2021	64
2022	22
2023	22
2024 and thereafter	216
Total minimum future rental revenues under operating leases	$ 406

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Leases (Net Investment in Capital Leases) (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 10
2020	9
2021	0
2022	0
2023	0
2024 and thereafter	1
Total minimum future lease receipts	20
Residual value of leased pipeline	40
Less unearned income	9
Net investment in capital lease	51
Less current portion	5
Capital lease, noncurrent	$ 46

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Leases (Components of Lease Cost) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 10	$ 31
Finance lease cost:
Amortization of right-of-use assets	0	3
Interest of lease liabilities	0	0
Total finance lease cost	0	3
Variable lease cost	2	8
Short-term lease cost	2	7
Total lease cost	14	49
DTE Electric
Lessee, Lease, Description [Line Items]
Operating lease cost	5	13
Finance lease cost:
Amortization of right-of-use assets	0	3
Interest of lease liabilities	0	0
Total finance lease cost	0	3
Variable lease cost	0	0
Short-term lease cost	1	2
Total lease cost	$ 6	$ 18

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Regulatory Matters

9 Months Ended

Sep. 30, 2019

Public Utilities, General Disclosures [Abstract]

Regulatory Matters

REGULATORY MATTERS

2018 Electric Rate Case Filing

DTE Electric filed a rate case with the MPSC on July 6, 2018 requesting an increase in base rates of $328 million based on a projected twelve-month period ending April 30, 2020. The requested increase in base rates was primarily due to an increase in net plant resulting from infrastructure investments, depreciation expense, as requested in the 2016 DTE Electric Depreciation Case Filing, and reliability improvement projects. The rate filing also requested an increase in return on equity from 10.0% to 10.5% and included projected changes in sales, operation and maintenance expenses, and working capital. In addition, the rate filing requested an Infrastructure Recovery Mechanism to recover the incremental revenue requirement associated with certain distribution, fossil generation, and nuclear generation capital expenditures through 2022. Finally, as noted in the 2017 Tax Reform section below, DTE Electric proposed an amortization schedule for Calculation C in this filing. On February 1, 2019, DTE Electric reduced its initial requested increase in base rates to $248.6 million, primarily reflecting the reduction in requested depreciation expense resulting from the MPSC's approval of new depreciation rates. On May 2, 2019, the MPSC issued an order approving an annual revenue increase of $125 million for services rendered on or after May 9, 2019. The MPSC authorized a return on equity of 10.0%. In addition, the order approved the proposed amortization schedule for Calculation C but denied the requested Infrastructure Recovery Mechanism.

2019 Electric Rate Case Filing

DTE Electric filed a rate case with the MPSC on July 8, 2019 requesting an increase in base rates of $351 million based on a projected twelve-month period ending April 30, 2021. The requested increase in base rates is primarily due to an increase in net plant resulting from infrastructure and generation investments. The rate filing also requests an increase in return on equity from 10.0% to 10.5% and includes projected changes in sales and operating and maintenance expenses. A final MPSC order in this case is expected by May 2020.

2016 DTE Electric Depreciation Case Filing

DTE Electric filed a depreciation case with the MPSC on November 1, 2016 requesting an increase in depreciation rates for plant in service balances as of December 31, 2015. The MPSC issued an order on December 6, 2018 authorizing DTE Electric to increase its composite depreciation rate from 3.06% to 3.72%. The new rates are effective for service rendered on or after May 9, 2019, per the final order in DTE Electric's 2018 rate case issued on May 2, 2019.

2017 Tax Reform

On December 27, 2017, the MPSC issued an order to consider changes in the rates of all Michigan rate-regulated utilities to reflect the effects of the federal TCJA. On January 19, 2018, DTE Electric and DTE Gas filed information with the MPSC regarding the potential change in revenue requirements due to the TCJA effective January 1, 2018 and outlined their recommended method to flow the current and deferred tax benefits of those impacts to ratepayers.

On February 22, 2018, the MPSC issued an order in this case requiring utilities, including DTE Electric and DTE Gas, to follow a 3-step approach of credits and calculations. In 2018, MPSC orders for the first two steps, Credit A and Credit B, were issued for DTE Electric and DTE Gas. The third step is to perform Calculation C to address all remaining issues relative to the new tax law, which is primarily the remeasurement of deferred taxes and how the amounts deferred as Regulatory liabilities will flow to ratepayers. DTE Gas filed its Calculation C case on November 16, 2018 to reduce the annual revenue requirement by $12 million related to the amortization of deferred tax remeasurement. On August 20, 2019, the MPSC issued an order in this case approving a $13 million reduction to DTE Gas' annual revenue requirement. This reduction in revenue will be offset by a corresponding reduction in income tax expense within the Consolidated Statements of Operations. DTE Electric proposed an amortization schedule for Calculation C in its general rate case filed July 6, 2018, which was approved by the MPSC in the May 2, 2019 rate order.

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Significant Accounting Policies

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Significant Accounting Policies

SIGNIFICANT ACCOUNTING POLICIES

Other Income

The following is a summary of DTE Energy's Other income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Income from REF entities	$	40	$	27	$	96	$	75
Equity earnings of equity method investees	34		46		77		99
Gains from equity securities	3		5		27		6
Contract services	7		11		21		43
Allowance for equity funds used during construction	5		7		18		20
Other	9		3		20		19
	$	98	$	99	$	259	$	262

The following is a summary of DTE Electric's Other income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Gains from equity securities allocated from DTE Energy	$	3	$	5	$	27	$	6
Contract services	7		11		23		44
Allowance for equity funds used during construction	5		5		17		14
Other	5		2		11		8
	$	20	$	23	$	78	$	72

Changes in Accumulated Other Comprehensive Income (Loss)

Comprehensive income (loss) is the change in common shareholders' equity during a period from transactions and events from non-owner sources, including Net Income. The amounts recorded to Accumulated other comprehensive income (loss) for DTE Energy include changes in benefit obligations, consisting of deferred actuarial losses and prior service costs, unrealized gains and losses from derivatives accounted for as cash flow hedges, DTE Energy's interest in other comprehensive income of equity investees which comprise the net unrealized gains and losses on investments, and foreign currency translation adjustments. DTE Energy releases income tax effects from accumulated other comprehensive income when the circumstances upon which they are premised cease to exist.

Changes in Accumulated other comprehensive income (loss) are presented in DTE Energy's Consolidated Statements of Changes in Equity and DTE Electric's Consolidated Statements of Changes in Shareholder's Equity. For further discussion regarding changes in Accumulated other comprehensive income (loss), see Note 3 to the Consolidated Financial Statements, "New Accounting Pronouncements." For the three and nine months ended September 30, 2019 and 2018, reclassifications out of Accumulated other comprehensive income (loss) not relating to the adoption of new accounting pronouncements for DTE Energy were not material.

Income Taxes

The interim effective tax rates of the Registrants are as follows:

	Effective Tax Rate
	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
DTE Energy	13	%	9	%	12	%	12	%
DTE Electric	16	%	21	%	16	%	22	%

These tax rates are affected by estimated annual permanent items, including AFUDC equity, production tax credits, and other flow-through items, as well as discrete items that may occur in any given period, but are not consistent from period to period.

The 4% increase in DTE Energy's effective tax rate for the three months ended September 30, 2019 was primarily due to a decrease in annual production tax credits, partially offset by the amortization of the TCJA regulatory liability in 2019 and the $20 million valuation allowance for the AMT credit carryover in 2018. There was no change in DTE Energy's effective tax rate for the nine months ended September 30, 2019. This was primarily due to a decrease in annual production tax credits, offset by the amortization of the TCJA regulatory liability in 2019, true-up adjustments to the remeasurement of deferred taxes in 2018 of $21 million, and the $20 million valuation allowance for the AMT credit carryover in 2018.

The 5% and 6% decrease in DTE Electric's effective tax rate for the three and nine months ended September 30, 2019, respectively, was primarily due to the amortization of the TCJA regulatory liability of 4% and higher production tax credits of 1% in 2019. The additional 1% decrease for the nine months ended September 30, 2019 was due to the remeasurement of deferred taxes in 2018 of $7 million.

DTE Energy's total amount of unrecognized tax benefits as of September 30, 2019 was $8 million, which if recognized, would favorably impact its effective tax rate. DTE Electric's total amount of unrecognized tax benefits as of September 30, 2019 was $10 million, which if recognized, would favorably impact its effective tax rate. The Registrants do not anticipate any material changes to the unrecognized tax benefits in the next twelve months.

DTE Electric had income tax payables of $13 million with DTE Energy at September 30, 2019 and income tax receivables with DTE Energy of $8 million at December 31, 2018.

Unrecognized Compensation Costs

As of September 30, 2019, DTE Energy had $88 million of total unrecognized compensation cost related to non-vested stock incentive plan arrangements. That cost is expected to be recognized over a weighted-average period of 1.30 years.

Allocated Stock-Based Compensation

DTE Electric received an allocation of costs from DTE Energy associated with stock-based compensation of $9 million and $11 million for the three months ended September 30, 2019 and 2018, respectively, while such allocation was $33 million and $27 million for the nine months ended September 30, 2019 and 2018, respectively.

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand, cash in banks, and temporary investments purchased with remaining maturities of three months or less. Restricted cash consists of funds held to satisfy requirements of certain debt and DTE Energy partnership operating agreements. Restricted cash designated for interest and principal payments within one year is classified as a Current Asset.

Intangible Assets

The Registrants have certain Intangible assets as shown below:

		September 30, 2019							December 31, 2018
	Useful Lives	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
		(In millions)
Intangible assets subject to amortization
Customer relationships	25 to 40 years(a)	$	779	$	(58	)	$	721	$	779	$	(44	)	$	735
Contract intangibles	6 to 26 years	270		(72		)	198		159		(66		)	93
		1,049		(130		)	919		938		(110		)	828
DTE Electric renewable energy credits	(b)	20		—			20		20		—			20
DTE Electric emission allowances	(b)	1		—			1		1		—			1
		21		—			21		21		—			21
Long-term intangible assets
DTE Electric		$	21	$	—		$	21	$	21	$	—		$	21
DTE Energy		$	1,070	$	(130	)	$	940	$	959	$	(110	)	$	849

______________________________________

(a) The useful lives of the customer relationship intangible assets are based on the number of years in which the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts and expected renewal rates based on the estimated volume and production lives of gas resources in the region.

(b) Emission allowances and renewable energy credits are charged to expense, using average cost, as the allowances and credits are consumed in the operation of the business.

The following table summarizes DTE Energy's estimated customer relationship and contract intangible amortization expense expected to be recognized during each year through 2024:

	Remaining
	2019		2020		2021		2022		2023		2024
	(In millions)
Estimated amortization expense	$	9	$	35	$	34	$	34	$	34	$	34

DTE Energy amortizes customer relationship and contract intangible assets on a straight-line basis over the expected period of benefit. DTE Energy's Intangible assets amortization expense was $7 million for the three months ended September 30, 2019 and 2018, while amortization expense was $21 million and $20 million for the nine months ended September 30, 2019 and 2018, respectively.

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Long-Term Debt

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT

Debt Issuances

In 2019, the following debt was issued:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	February	Mortgage Bonds(a)	3.95%	2049	$	650
DTE Energy	June	Senior Notes(b)	2.60%	2022	300
DTE Energy	June	Senior Notes(b)	3.40%	2029	500
					$	1,450

_______________________________________

(a) Bonds were issued as Green Bonds and the proceeds will be used to finance expenditures for solar and wind energy, payments under power purchase agreements for solar and wind energy, and energy optimization programs.

(b) Proceeds were used for the repayment of short-term borrowings and general corporate purposes.

In October 2019, DTE Gas issued $140 million of 2.95% First Mortgage Bonds due October 1, 2029 and $140 million of 3.72% First Mortgage Bonds due October 1, 2049 to a group of institutional investors in a private placement transaction. Proceeds were used for the repayment of short-term borrowings and for general corporate purposes.

Additionally in October 2019, the following securities were redeemed at maturity: $400 million DTE Energy 2016 Series D 1.5% Senior Notes and $120 million DTE Gas 2004 Series E 5.0% Senior Notes.

Remarketable Senior Notes

In August 2019, DTE Energy remarketed the $675 million 2016 Series C 1.5% RSNs due 2024 pursuant to the terms of the 2016 Equity Units. As a result of the remarketing, the interest rate was reset to 2.529%, payable semi-annually at the new rate beginning October 1, 2019. At September 30, 2019, these securities are included in Mortgage, bonds, notes and other within DTE Energy's Consolidated Statements of Financial Position. DTE Energy did not receive any proceeds for the remarketing. All proceeds belonged to the investors holding the related 2016 Equity Units and were temporarily used to purchase a portfolio of treasury securities. The securities were released on behalf of investors to complete the related stock purchase contracts settlement date of October 1, 2019 to pay the purchase price to DTE Energy for the issuance of approximately 5.87 million shares of common stock.

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Fair Value (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis

The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis^(a):

	September 30, 2019																	December 31, 2018
	Level 1			Level 2			Level 3			Other(b)		Netting(c)			Net Balance			Level 1			Level 2			Level 3			Other(b)		Netting(c)			Net Balance
	(In millions)
Assets
Cash equivalents(d)	$	21		$	—		$	—		$	—	$	—		$	21		$	16		$	2		$	—		$	—	$	—		$	18
Nuclear decommissioning trusts
Equity securities	990			—			—			—		—			990			851			—			—			—		—			851
Fixed income securities	9			535			—			—		—			544			12			490			—			—		—			502
Private equity and other	—			—			—			34		—			34			—			—			—			20		—			20
Cash equivalents	9			—			—			—		—			9			5			—			—			—		—			5
Other investments(e)
Equity securities	130			—			—			—		—			130			110			—			—			—		—			110
Fixed income securities	78			—			—			—		—			78			69			—			—			—		—			69
Cash equivalents	4			—			—			—		—			4			4			—			—			—		—			4
Derivative assets
Commodity contracts
Natural gas	109			90			54			—		(189		)	64			199			87			63			—		(277		)	72
Electricity	—			128			36			—		(124		)	40			—			247			56			—		(252		)	51
Other	5			—			5			—		(5		)	5			—			—			7			—		(1		)	6
Foreign currency exchange contracts	—			2			—			—		—			2			—			4			—			—		—			4
Total derivative assets	114			220			95			—		(318		)	111			199			338			126			—		(530		)	133
Total	$	1,355		$	755		$	95		$	34	$	(318	)	$	1,921		$	1,266		$	830		$	126		$	20	$	(530	)	$	1,712
Liabilities
Derivative liabilities
Commodity contracts
Natural gas	$	(130	)	$	(72	)	$	(95	)	$	—	$	189		$	(108	)	$	(197	)	$	(71	)	$	(112	)	$	—	$	272		$	(108	)
Electricity	—			(127		)	(28		)	—		124			(31		)	—			(227		)	(58		)	—		240			(45		)
Other	(7		)	(1		)	—			—		5			(3		)	—			(1		)	—			—		1			—
Interest rate contracts	—			—			—			—		—			—			—			(3		)	—			—		—			(3		)
Total derivative liabilities	(137		)	(200		)	(123		)	—		318			(142		)	(197		)	(302		)	(170		)	—		513			(156		)
Total	$	(137	)	$	(200	)	$	(123	)	$	—	$	318		$	(142	)	$	(197	)	$	(302	)	$	(170	)	$	—	$	513		$	(156	)
Net Assets (Liabilities) at end of period	$	1,218		$	555		$	(28	)	$	34	$	—		$	1,779		$	1,069		$	528		$	(44	)	$	20	$	(17	)	$	1,556
Assets
Current	$	130		$	175		$	62		$	—	$	(271	)	$	96		$	212		$	273		$	96		$	—	$	(461	)	$	120
Noncurrent	1,225			580			33			34		(47		)	1,825			1,054			557			30			20		(69		)	1,592
Total Assets	$	1,355		$	755		$	95		$	34	$	(318	)	$	1,921		$	1,266		$	830		$	126		$	20	$	(530	)	$	1,712
Liabilities
Current	$	(123	)	$	(163	)	$	(53	)	$	—	$	271		$	(68	)	$	(191	)	$	(251	)	$	(76	)	$	—	$	451		$	(67	)
Noncurrent	(14		)	(37		)	(70		)	—		47			(74		)	(6		)	(51		)	(94		)	—		62			(89		)
Total Liabilities	$	(137	)	$	(200	)	$	(123	)	$	—	$	318		$	(142	)	$	(197	)	$	(302	)	$	(170	)	$	—	$	513		$	(156	)
Net Assets (Liabilities) at end of period	$	1,218		$	555		$	(28	)	$	34	$	—		$	1,779		$	1,069		$	528		$	(44	)	$	20	$	(17	)	$	1,556

_______________________________________

(a) See footnotes on following page.

_______________________________________

(b) Amounts represent assets valued at NAV as a practical expedient for fair value.

(c) Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.

(d) At September 30, 2019, the $21 million consisted of $10 million and $11 million of cash equivalents included in Cash and cash equivalents and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2018, the $18 million consisted of $3 million, $5 million and $10 million of cash equivalents included in Cash and cash equivalents, Restricted cash, and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively.

(e) Excludes cash surrender value of life insurance investments.

The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of:

	September 30, 2019										December 31, 2018
	Level 1		Level 2		Level 3		Other(a)		Net Balance		Level 1		Level 2		Level 3		Other(a)		Net Balance
	(In millions)
Assets
Cash equivalents(b)	$	11	$	—	$	—	$	—	$	11	$	8	$	2	$	—	$	—	$	10
Nuclear decommissioning trusts
Equity securities	990		—		—		—		990		851		—		—		—		851
Fixed income securities	9		535		—		—		544		12		490		—		—		502
Private equity and other	—		—		—		34		34		—		—		—		20		20
Cash equivalents	9		—		—		—		9		5		—		—		—		5
Other investments
Equity securities	12		—		—		—		12		10		—		—		—		10
Derivative assets — FTRs	—		—		5		—		5		—		—		6		—		6
Total	$	1,031	$	535	$	5	$	34	$	1,605	$	886	$	492	$	6	$	20	$	1,404
Assets
Current	$	11	$	—	$	5	$	—	$	16	$	8	$	2	$	6	$	—	$	16
Noncurrent	1,020		535		—		34		1,589		878		490		—		20		1,388
Total Assets	$	1,031	$	535	$	5	$	34	$	1,605	$	886	$	492	$	6	$	20	$	1,404

_______________________________________

(a) Amounts represent assets valued at NAV as a practical expedient for fair value.

(b)

At September 30, 2019, the $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2018, the $10 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position.

Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy:

	Three Months Ended September 30, 2019												Three Months Ended September 30, 2018
	Natural Gas			Electricity			Other			Total			Natural Gas			Electricity			Other			Total
	(In millions)
Net Assets (Liabilities) as of June 30	$	(10	)	$	10		$	9		$	9		$	(25	)	$	(13	)	$	15		$	(23	)
Transfers into Level 3 from Level 2	—			—			—			—			—			—			—			—
Transfers from Level 3 into Level 2	—			—			—			—			—			—			—			—
Total gains (losses)
Included in earnings	(35		)	37			—			2			(30		)	21			—			(9		)
Recorded in Regulatory liabilities	—			—			(3		)	(3		)	—			—			(8		)	(8		)
Purchases, issuances, and settlements
Settlements	4			(39		)	(1		)	(36		)	9			(18		)	(1		)	(10		)
Net Assets (Liabilities) as of September 30	$	(41	)	$	8		$	5		$	(28	)	$	(46	)	$	(10	)	$	6		$	(50	)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	$	(36	)	$	15		$	(1	)	$	(22	)	$	(31	)	$	10		$	(1	)	$	(22	)

	Nine Months Ended September 30, 2019												Nine Months Ended September 30, 2018
	Natural Gas			Electricity			Other			Total			Natural Gas			Electricity			Other			Total
	(In millions)
Net Assets (Liabilities) as of December 31	$	(49	)	$	(2	)	$	7		$	(44	)	$	(29	)	$	12		$	8		$	(9	)
Transfers into Level 3 from Level 2	—			—			—			—			—			—			—			—
Transfers from Level 3 into Level 2	—			—			—			—			(3		)	—			—			(3		)
Total gains (losses)
Included in earnings	(4		)	47			(1		)	42			(128		)	25			1			(102		)
Recorded in Regulatory liabilities	—			—			3			3			—			—			6			6
Purchases, issuances, and settlements
Settlements	12			(37		)	(4		)	(29		)	114			(47		)	(9		)	58
Net Assets (Liabilities) as of September 30	$	(41	)	$	8		$	5		$	(28	)	$	(46	)	$	(10	)	$	6		$	(50	)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	$	(20	)	$	32		$	(6	)	$	6		$	(109	)	$	4		$	(3	)	$	(108	)

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net Assets as of beginning of period	$	9		$	15		$	6		$	9
Change in fair value recorded in Regulatory liabilities	(3		)	(8		)	3			6
Purchases, issuances, and settlements
Settlements	(1		)	(1		)	(4		)	(9		)
Net Assets as of September 30	$	5		$	6		$	5		$	6
The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets held at September 30, 2019 and 2018 and reflected in DTE Electric's Consolidated Statements of Financial Position	$	(1	)	$	(2	)	$	5		$	6

Unobservable Inputs Related to Level 3 Assets and Liabilities

The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:

	September 30, 2019
Commodity Contracts	Derivative Assets		Derivative Liabilities			Valuation Techniques	Unobservable Input	Range							Weighted Average
	(In millions)
Natural Gas	$	54	$	(95	)	Discounted Cash Flow	Forward basis price (per MMBtu)	$	(1.55	)	—	$	6.17	/MMBtu	$	(0.09	)/MMBtu
Electricity	$	36	$	(28	)	Discounted Cash Flow	Forward basis price (per MWh)	$	(13	)	—	$	7	/MWh	$	—

	December 31, 2018
Commodity Contracts	Derivative Assets		Derivative Liabilities			Valuation Techniques	Unobservable Input	Range							Weighted Average
	(In millions)
Natural Gas	$	63	$	(112	)	Discounted Cash Flow	Forward basis price (per MMBtu)	$	(2.15	)	—	$	5.59	/MMBtu	$	(0.10	)/MMBtu
Electricity	$	56	$	(58	)	Discounted Cash Flow	Forward basis price (per MWh)	$	(7	)	—	$	9	/MWh	$	1	/MWh

Carrying Amount of Fair Value of Financial Instruments

The following table presents the carrying amount and fair value of financial instruments for DTE Energy:

	September 30, 2019								December 31, 2018
	Carrying		Fair Value						Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Amount		Level 1		Level 2		Level 3
	(In millions)
Notes receivable(a), excluding lessor finance leases	$	178	$	—	$	—	$	178	$	40	$	—	$	—	$	40
Dividends payable	$	173	$	173	$	—	$	—	$	172	$	172	$	—	$	—
Short-term borrowings	$	724	$	—	$	724	$	—	$	609	$	—	$	609	$	—
Notes payable — Other(b), excluding lessee finance leases	$	27	$	—	$	—	$	27	$	41	$	—	$	—	$	41
Long-term debt(c)	$	15,056	$	1,277	$	14,216	$	1,138	$	13,622	$	1,796	$	10,712	$	1,317

_______________________________________

(a) Current portion included in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.

(b) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.

(c) Includes debt due within one year, unamortized debt discounts, and issuance costs. Excludes finance lease obligations.

The following table presents the carrying amount and fair value of financial instruments for DTE Electric:

	September 30, 2019								December 31, 2018
	Carrying		Fair Value						Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Amount		Level 1		Level 2		Level 3
	(In millions)
Notes receivable — Other(a), excluding lessor finance leases	$	14	$	—	$	—	$	14	$	6	$	—	$	—	$	6
Short-term borrowings — affiliates	$	97	$	—	$	—	$	97	$	101	$	—	$	—	$	101
Short-term borrowings — other	$	382	$	—	$	382	$	—	$	149	$	—	$	149	$	—
Notes payable — Other(b), excluding lessee finance leases	$	23	$	—	$	—	$	23	$	21	$	—	$	—	$	21
Long-term debt(c)	$	7,179	$	—	$	7,996	$	176	$	6,538	$	—	$	6,552	$	161

_______________________________________

(a) Included in Current Assets — Other on DTE Electric's Consolidated Statements of Financial Position.

(b) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.

(c)

Includes debt due within one year, unamortized debt discounts, and issuance costs. Excludes finance lease obligations.

Fair Value of Nuclear Decommissioning Trust Fund Assets

The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:

	September 30, 2019		December 31, 2018
	(In millions)
Fermi 2	$	1,567	$	1,372
Fermi 1	3		3
Low-level radioactive waste	7		3
	$	1,577	$	1,378

Schedule of Realized Gains and Losses and Proceeds from Sale of Securities by Nuclear Decommissioning Trust Funds

The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Realized gains	$	15		$	10		$	43		$	52
Realized losses	$	(8	)	$	(7	)	$	(25	)	$	(22	)
Proceeds from sale of securities	$	198		$	194		$	594		$	810

Fair Value and Unrealized Gains and Losses for Nuclear Decommissioning Trust Funds

The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:

	September 30, 2019							December 31, 2018
	Fair Value		Unrealized Gains		Unrealized Losses			Fair Value		Unrealized Gains		Unrealized Losses
	(In millions)
Equity securities	$	990	$	335	$	(53	)	$	851	$	235	$	(79	)
Fixed income securities	544		27		(1		)	502		7		(8		)
Private equity and other	34		—		—			20		—		—
Cash equivalents	9		—		—			5		—		—
	$	1,577	$	362	$	(54	)	$	1,378	$	242	$	(87	)

Fair Value of the Fixed Income Securities Held in Nuclear Decommissioning Trust Funds

The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:

	September 30, 2019
	(In millions)
Due within one year	$	23
Due after one through five years	98
Due after five through ten years	108
Due after ten years	315
	$	544

XML

Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 76	$ 71
Restricted cash	0	5
Accounts receivable (less allowance for doubtful accounts)
Customer	1,453	1,789
Other	264	108
Inventories
Fuel and gas	413	406
Materials and supplies	393	405
Derivative assets	75	102
Regulatory assets	22	153
Prepaid property tax	153	70
Other	136	151
Total Current Assets	2,985	3,260
Investments
Nuclear decommissioning trust funds	1,577	1,378
Investments in equity method investees	1,839	1,771
Other	253	219
Total Investments	3,669	3,368
Property
Property, plant, and equipment	33,473	31,810
Accumulated depreciation and amortization	(9,715)	(10,160)
Property, plant, and equipment, net	23,758	21,650
Other Assets
Goodwill	2,293	2,293
Regulatory assets	4,057	4,568
Intangible assets	940	849
Notes receivable	193	64
Derivative assets	36	31
Prepaid postretirement costs	74	45
Operating lease right-of-use assets	145
Other	195	160
Total Other Assets	7,933	8,010
Total Assets	38,345	36,288
Accounts payable
Accounts payable	1,033	1,329
Accrued interest	153	127
Dividends payable	173	172
Short-term borrowings	724	609
Current portion long-term debt, including finance leases	1,206	1,499
Derivative liabilities	68	67
Regulatory liabilities	55	126
Short-term borrowings
Operating lease liabilities	34
Other	419	509
Total Current Liabilities	3,865	4,438
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	12,708	10,982
Junior subordinated debentures	1,146	1,145
Finance lease liabilities	4	7
Total Long-Term Debt (net of current portion)	13,858	12,134
Other Liabilities
Deferred income taxes	2,257	1,975
Regulatory liabilities	3,313	2,922
Asset retirement obligations	2,576	2,469
Unamortized investment tax credit	163	138
Derivative liabilities	74	89
Accrued pension liability	658	837
Nuclear decommissioning	235	205
Operating lease liabilities	105
Other	337	364
Total Other Liabilities	9,718	8,999
Commitments and Contingencies (Notes 6 and 13)
Equity
Common stock	4,370	4,245
Retained earnings	6,516	6,112
Accumulated other comprehensive loss	(146)	(120)
Total DTE Energy/DTE Electric Company Equity	10,740	10,237
Noncontrolling interests	164	480
Total Equity	10,904	10,717
Total Liabilities and Equity	38,345	36,288
DTE Electric
Current Assets
Cash and cash equivalents	26	18
Accounts receivable (less allowance for doubtful accounts)
Customer	779	750
Affiliates	1	11
Other	62	54
Inventories
Fuel and gas	180	171
Materials and supplies	284	279
Regulatory assets	22	148
Prepaid property tax	116	47
Other	35	42
Total Current Assets	1,505	1,520
Investments
Nuclear decommissioning trust funds	1,577	1,378
Other	36	34
Total Investments	1,613	1,412
Property
Property, plant, and equipment	23,917	22,747
Accumulated depreciation and amortization	(6,697)	(7,310)
Property, plant, and equipment, net	17,220	15,437
Other Assets
Regulatory assets	3,340	3,829
Intangible assets	21	21
Prepaid postretirement costs — affiliates	189	189
Operating lease right-of-use assets	64
Other	159	121
Total Other Assets	3,773	4,160
Total Assets	24,111	22,529
Accounts payable
Affiliates	81	71
Other	403	441
Accrued interest	81	74
Current portion long-term debt, including finance leases	336	4
Regulatory liabilities	28	98
Short-term borrowings
Affiliates	97	101
Other	382	149
Operating lease liabilities	13
Other	154	139
Total Current Liabilities	1,575	1,077
Long-Term Debt (net of current portion)
Mortgage bonds, notes, and other	6,847	6,538
Finance lease liabilities	4	7
Total Long-Term Debt (net of current portion)	6,851	6,545
Other Liabilities
Deferred income taxes	2,311	2,246
Regulatory liabilities	2,606	2,171
Asset retirement obligations	2,361	2,271
Unamortized investment tax credit	162	137
Nuclear decommissioning	235	205
Accrued pension liability — affiliates	611	718
Accrued postretirement liability — affiliates	262	278
Operating lease liabilities	45
Other	82	88
Total Other Liabilities	8,675	8,114
Commitments and Contingencies (Notes 6 and 13)
Equity
Common stock	4,631	4,631
Retained earnings	2,379	2,162
Total DTE Energy/DTE Electric Company Equity	7,010	6,793
Total Liabilities and Equity	$ 24,111	$ 22,529

XML

Document and Entity Information	9 Months Ended
	Sep. 30, 2019 shares
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-11607
Entity Registrant Name	DTE Energy Co
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-3217752
Entity Address, Address Line One	One Energy Plaza
Entity Address, City or Town	Detroit
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48226-1279
City Area Code	313
Local Phone Number	235-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	183,396,510
Entity Central Index Key	0000936340
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
DTE Electric
Entity File Number	1-2198
Entity Registrant Name	DTE Electric Co
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-0478650
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	138,632,324
Entity Central Index Key	0000028385
Common stock, without par value
Title of 12(b) Security	Common stock, without par value
Trading Symbol	DTE
Security Exchange Name	NYSE
2012 Series C 5.25% Junior Subordinated Debentures due 2062
Title of 12(b) Security	2012 Series C 5.25% Junior Subordinated Debentures due 2062
Trading Symbol	DTQ
Security Exchange Name	NYSE
2016 Series B 5.375% Junior Subordinated Debentures due 2076
Title of 12(b) Security	2016 Series B 5.375% Junior Subordinated Debentures due 2076
Trading Symbol	DTJ
Security Exchange Name	NYSE
2016 Series F 6.00% Junior Subordinated Debentures due 2076
Title of 12(b) Security	2016 Series F 6.00% Junior Subordinated Debentures due 2076
Trading Symbol	DTY
Security Exchange Name	NYSE
2017 Series E 5.25% Junior Subordinated Debentures due 2077
Title of 12(b) Security	2017 Series E 5.25% Junior Subordinated Debentures due 2077
Trading Symbol	DTW
Security Exchange Name	NYSE

XML

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Components of Lease Cost and Other Information Related to Leases

The components of lease cost for DTE Energy were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	10	$	31
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	2		8
Short-term lease cost	2		7
	$	14	$	49

The components of lease cost for DTE Electric were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	5	$	13
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	—		—
Short-term lease cost	1		2
	$	6	$	18

Other information related to leases were as follows:

	DTE Energy		DTE Electric
	Nine Months Ended September 30, 2019
	(In millions)
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$	4	$	4
Operating cash flows from operating leases	$	30	$	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	37	$	2
Weighted Average Remaining Lease Term
Operating leases	9.7 years		10.6 years
Finance leases	2.3 years		2.3 years
Weighted Average Discount Rate
Operating leases	3.7%		3.7%
Finance leases	3.1%		3.1%

Schedule of Maturities of Operating Leases

The Registrants' future minimum lease payments under leases for remaining periods as of September 30, 2019 were as follows:

	DTE Energy					DTE Electric
	Operating Leases			Finance Leases		Operating Leases			Finance Leases
	(In millions)
2019	$	10		$	1	$	4		$	1
2020	35			4		13			4
2021	26			3		11			3
2022	19			—		7			—
2023	16			—		6			—
2024 and thereafter	62			—		30			—
Total future minimum lease payments	168			8		71			8
Imputed interest	(30		)	—		(13		)	—
	$	138		$	8	$	58		$	8

Schedule of Maturities of Finance Leases

The Registrants' future minimum lease payments under leases for remaining periods as of September 30, 2019 were as follows:

	DTE Energy					DTE Electric
	Operating Leases			Finance Leases		Operating Leases			Finance Leases
	(In millions)
2019	$	10		$	1	$	4		$	1
2020	35			4		13			4
2021	26			3		11			3
2022	19			—		7			—
2023	16			—		6			—
2024 and thereafter	62			—		30			—
Total future minimum lease payments	168			8		71			8
Imputed interest	(30		)	—		(13		)	—
	$	138		$	8	$	58		$	8

Schedule of Finance Leases Reported on Consolidated Statement of Financial Position

Finance leases reported on the Consolidated Statement of Financial Position were as follows:

	DTE Energy		DTE Electric
	September 30, 2019
	(In millions)
Right-of-use assets, within Property, plant, and equipment, net	$	8	$	8
Current lease liabilities, within Current Liabilities — Other	$	3	$	3

Schedule of Future Minimum Lease Payments and Rental Revenues for Operating Leases

DTE Energy’s minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were:

	DTE Energy
	(In millions)
2019	$	66
2020	66
2021	64
2022	20
2023	20
2024 and thereafter	196
	$	432

The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2018 were as follows:

	DTE Energy		DTE Electric
	(In millions)
2019	$	42	$	17
2020	30		12
2021	18		10
2022	11		7
2023	8		5
2024 and thereafter	45		29
	$	154	$	80

Schedule of Lease Income Associated with Operating Leases

DTE Energy’s lease income associated with operating leases was as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Fixed payments	$	17	$	51
Variable payments	40		92
	$	57	$	143

Schedule of Minimum Future Rental Revenues under Operating Leases

DTE Energy’s minimum future rental revenues under operating leases for remaining periods as of September 30, 2019 were:

	DTE Energy
	(In millions)
2019	$	16
2020	66
2021	64
2022	22
2023	22
2024 and thereafter	216
	$	406

Schedule of Property under Operating Leases - Topic 842

Property under operating leases for DTE Energy was as follows:

	DTE Energy
	September 30, 2019
	(In millions)
Gross property under operating leases	$	444
Accumulated amortization of property under operating leases	$	166

Components of Net Investment in Finance Leases

The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:

	DTE Energy
	September 30, 2019
	(In millions)
2019	$	3
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	13
Residual value of leased pipeline	40
Less unearned income	6
Net investment in finance lease	47
Less current portion	5
	$	42

Components of Net Investment in Capital Leases

The components of DTE Energy’s net investment in capital leases at December 31, 2018 were as follows:

	DTE Energy
	(In millions)
2019	$	10
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	20
Residual value of leased pipeline	40
Less unearned income	9
Net investment in capital lease	51
Less current portion	5
	$	46

Schedule of Property under Operating Leases - Topic 840

Property under operating leases for DTE Energy as of December 31, 2018 were as follows:

	DTE Energy
	(In millions)
Gross property under operating leases	$	447
Accumulated amortization of property under operating leases	$	148

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Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock (in dollars per share)	$ 1.89	$ 0.945	$ 1.77	$ 0.88

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Earnings Per Share (Details Textuals) - USD ($) shares in Thousands, $ in Millions		9 Months Ended
	Oct. 01, 2019	Sep. 30, 2019	Sep. 30, 2018
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Proceeds from issuance of common stock under stock purchase contract associated with 2016 Series C Equity Units		$ 0	$ 7
Subsequent event | Stock Purchase Contract, 2016 Series C Equity Units Subject to Mandatory Redemption
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Shares of common stock issued under stock purchase contracts (in shares)	5,870
Proceeds from issuance of common stock under stock purchase contract associated with 2016 Series C Equity Units	$ 675

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Revenue (Expected Timing of Performance Obligation Satisfaction) (Details) $ in Millions	Sep. 30, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 9
Remaining performance obligation, expected timing of satisfaction	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 25
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 7
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 12
Remaining performance obligation, expected timing of satisfaction
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 65
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 52
Remaining performance obligation, expected timing of satisfaction	3 months
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01 | DTE Electric
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3
Remaining performance obligation, expected timing of satisfaction	3 months
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 290
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | DTE Electric
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 0
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 269
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | DTE Electric
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 0
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 206
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | DTE Electric
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 0
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 142
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | DTE Electric
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 0
Remaining performance obligation, expected timing of satisfaction	1 year
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 648
Remaining performance obligation, expected timing of satisfaction
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | DTE Electric
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 0
Remaining performance obligation, expected timing of satisfaction
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1,607
Fixed-price Contract | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | DTE Electric
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3

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Leases (Future Rental Revenues under Operating Leases) (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 66
2020	66
2021	64
2022	20
2023	20
2024 and thereafter	196
Total minimum future rental revenues under non-cancelable operating leases	$ 432

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Leases Leases (Details Textuals) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2018 USD ($) agreement	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Lessee, Lease, Description [Line Items]
Term of finance lease contract	20 years	20 years
Finance lease contract, renewal option extension term	5 years	5 years
Percent ownership interest in Vector Pipeline	40.00%	40.00%
Depreciation expense associated with property under operating leases	$ 7	$ 20
Interest income recognized under finance leases	$ 2	$ 4
Contingent rental revenues			$ 107	$ 91	$ 101
Pipeline System Lease
Lessee, Lease, Description [Line Items]
Percent ownership interest in Vector Pipeline			40.00%
Lessor capital lease renewal terms			5 years
Number of energy services agreements | agreement			2
Minimum
Lessee, Lease, Description [Line Items]
Lease terms		2 years
Term of operating lease contracts	3 years	3 years
Maximum
Lessee, Lease, Description [Line Items]
Lease terms		40 years
Term of operating lease contracts	24 years	24 years
DTE Electric | Minimum
Lessee, Lease, Description [Line Items]
Lease terms		2 years
DTE Electric | Maximum
Lessee, Lease, Description [Line Items]
Lease terms		40 years

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Leases (Other Information) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($)
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$ 4
Operating cash flows from operating leases	30
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 37
Weighted Average Remaining Lease Term
Operating leases	9 years 8 months 12 days
Finance leases	2 years 3 months 18 days
Weighted Average Discount Rate
Operating leases	3.70%
Finance leases	3.10%
DTE Electric
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$ 4
Operating cash flows from operating leases	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 2
Weighted Average Remaining Lease Term
Operating leases	10 years 7 months 6 days
Finance leases	2 years 3 months 18 days
Weighted Average Discount Rate
Operating leases	3.70%
Finance leases	3.10%

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Financial and Other Derivative Instruments (Netting Offsets of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative assets
Gross Amounts of Recognized Assets (Liabilities)	$ 429	$ 663
Gross Amounts Offset in the Consolidated Statements of Financial Position	(318)	(530)
Derivative assets, net	111	133
Derivative liabilities
Gross Amounts of Recognized Assets (Liabilities)	(460)	(669)
Gross Amounts Offset in the Consolidated Statements of Financial Position	318	513
Derivative liabilities, net	(142)	(156)
Natural gas
Derivative assets
Gross Amounts of Recognized Assets (Liabilities)	253	349
Gross Amounts Offset in the Consolidated Statements of Financial Position	(189)	(277)
Derivative assets, net	64	72
Derivative liabilities
Gross Amounts of Recognized Assets (Liabilities)	(297)	(380)
Gross Amounts Offset in the Consolidated Statements of Financial Position	189	272
Derivative liabilities, net	(108)	(108)
Electricity
Derivative assets
Gross Amounts of Recognized Assets (Liabilities)	164	303
Gross Amounts Offset in the Consolidated Statements of Financial Position	(124)	(252)
Derivative assets, net	40	51
Derivative liabilities
Gross Amounts of Recognized Assets (Liabilities)	(155)	(285)
Gross Amounts Offset in the Consolidated Statements of Financial Position	124	240
Derivative liabilities, net	(31)	(45)
Other
Derivative assets
Gross Amounts of Recognized Assets (Liabilities)	10	7
Gross Amounts Offset in the Consolidated Statements of Financial Position	(5)	(1)
Derivative assets, net	5	6
Derivative liabilities
Gross Amounts of Recognized Assets (Liabilities)	(8)	(1)
Gross Amounts Offset in the Consolidated Statements of Financial Position	5	1
Derivative liabilities, net	(3)	0
Interest rate contracts
Derivative liabilities
Gross Amounts of Recognized Assets (Liabilities)	0	(3)
Gross Amounts Offset in the Consolidated Statements of Financial Position	0	0
Derivative liabilities, net	0	(3)
Foreign currency exchange contracts
Derivative assets
Gross Amounts of Recognized Assets (Liabilities)	2	4
Gross Amounts Offset in the Consolidated Statements of Financial Position	0	0
Derivative assets, net	$ 2	$ 4

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Long-Term Debt (Schedule of Issued Debt) (Details)	Sep. 30, 2019 USD ($)
Debt Instrument [Line Items]
Debt issued	$ 1,450,000,000
DTE Energy | Senior Notes | June 2019 2.60% Senior Notes Maturing 2022
Debt Instrument [Line Items]
Interest rate	2.60%
Debt issued	$ 300,000,000
DTE Energy | Senior Notes | June 2019 3.40% Senior Notes Maturing 2029
Debt Instrument [Line Items]
Interest rate	3.40%
Debt issued	$ 500,000,000
DTE Electric | Mortgage Bonds | February 2019 3.95% Mortgage Bonds Maturing 2049
Debt Instrument [Line Items]
Interest rate	3.95%
Debt issued	$ 650,000,000

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Leases (Lease Income Associated with Operating Leases) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Fixed payments	$ 17	$ 51
Variable payments	40	92
Total lease income under operating leases	$ 57	$ 143

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Significant Accounting Policies (Other Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule of Other Nonoperating Income, by Component [Line Items]
Income from REF entities	$ 40	$ 27	$ 96	$ 75
Equity earnings of equity method investees	34	46	77	99
Gains from equity securities	3	5	27	6
Contract services	7	11	21	43
Allowance for equity funds used during construction	5	7	18	20
Other	9	3	20	19
Total other income	98	99	259	262
DTE Electric
Schedule of Other Nonoperating Income, by Component [Line Items]
Gains from equity securities	3	5	27	6
Contract services	7	11	23	44
Allowance for equity funds used during construction	5	5	17	14
Other	5	2	11	8
Total other income	$ 20	$ 23	$ 78	$ 72

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Significant Accounting Policies (Future Amortization Expense Intangible Assets) (Details) $ in Millions	Sep. 30, 2019 USD ($)
Estimated amortization expense
Remaining 2019	$ 9
2020	35
2021	34
2022	34
2023	34
2024	$ 34

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Segment and Related Information (Details Textuals) customer in Millions	Sep. 30, 2019 customer
Segment Reporting [Abstract]
Number of electric utility customers	2.2
Number of gas utility customers	1.3

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Fair Value Fair Value (Fair Value of Fixed Income Securities Held in Nuclear Decommissioning Trust Funds (Details) - Fixed income securities - Nuclear decommissioning trust fund $ in Millions	Sep. 30, 2019 USD ($)
Debt Securities, Available-for-sale [Line Items]
Due within one year	$ 23
Due after one through five years	98
Due after five through ten years	108
Due after ten years	315
Available-for-sale securities total	$ 544

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Fair Value (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Carrying amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	$ 178	$ 40
Dividends payable	173	172
Short-term borrowings	724	609
Notes payable — Other, excluding lessee finance leases	27	41
Long-term debt	15,056	13,622
Carrying amount | DTE Electric
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	14	6
Short-term borrowings	382	149
Notes payable — Other, excluding lessee finance leases	23	21
Long-term debt	7,179	6,538
Carrying amount | DTE Electric | Affiliates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings	97	101
Fair value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	0	0
Dividends payable	173	172
Short-term borrowings	0	0
Notes payable — Other, excluding lessee finance leases	0	0
Long-term debt	1,277	1,796
Fair value | Level 1 | DTE Electric
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	0	0
Short-term borrowings	0	0
Notes payable — Other, excluding lessee finance leases	0	0
Long-term debt	0	0
Fair value | Level 1 | DTE Electric | Affiliates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings	0	0
Fair value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	0	0
Dividends payable	0	0
Short-term borrowings	724	609
Notes payable — Other, excluding lessee finance leases	0	0
Long-term debt	14,216	10,712
Fair value | Level 2 | DTE Electric
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	0	0
Short-term borrowings	382	149
Notes payable — Other, excluding lessee finance leases	0	0
Long-term debt	7,996	6,552
Fair value | Level 2 | DTE Electric | Affiliates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings	0	0
Fair value | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	178	40
Dividends payable	0	0
Short-term borrowings	0	0
Notes payable — Other, excluding lessee finance leases	27	41
Long-term debt	1,138	1,317
Fair value | Level 3 | DTE Electric
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable — Other, excluding lessor finance leases	14	6
Short-term borrowings	0	0
Notes payable — Other, excluding lessee finance leases	23	21
Long-term debt	176	161
Fair value | Level 3 | DTE Electric | Affiliates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings	$ 97	$ 101

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Commitments and Contingencies (Details Textuals)	9 Months Ended	12 Months Ended
	Sep. 30, 2019 USD ($) employee plant site facility NOV	Dec. 31, 2018 USD ($)	Jul. 31, 2019 CAD ($)	Jul. 31, 2009 plant
Loss Contingencies [Line Items]
Estimated utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees	$ 5,900,000,000
Long-lived assets used in producing electric output for sale	$ 23,758,000,000	$ 21,650,000,000
Power and Industrial Projects
Loss Contingencies [Line Items]
Number of generating plants operated with ownership interest held | plant	5
Workforce subject to collective bargaining arrangements | Labor force concentration risk
Loss Contingencies [Line Items]
Number of employees | employee	5,200
Vector | Revolving Term Credit Facility
Loss Contingencies [Line Items]
Revolving term credit facility amount			$ 70,000,000
Maximum potential payments under line of credit	$ 53,000,000
Pacific Gas and Electric Corporation | Power and Industrial Projects
Loss Contingencies [Line Items]
Long-lived assets used in producing electric output for sale	102,000,000
Equity investments, including note receivable	$ 72,000,000
Impairment loss		0
Other than temporary decline in equity investments		0
Synthetic fuel
Loss Contingencies [Line Items]
Number of days after expiration of statutes of limitations	90 days
Maximum potential liability	$ 400,000,000
Reduced emissions fuel guarantees
Loss Contingencies [Line Items]
Number of days after expiration of statutes of limitations	90 days
Maximum potential liability	$ 491,000,000
NEXUS pipeline | DTE Gas
Loss Contingencies [Line Items]
Maximum potential liability	$ 242,000,000
Guarantee termination, minimum threshold, period following end of primary term of capacity lease agreements	2 months
NEXUS pipeline | Texas Eastern Transmission, LP
Loss Contingencies [Line Items]
Maximum potential liability	$ 377,000,000
Percentage of payment obligations due	50.00%
Guarantee termination, minimum threshold, period following end of primary term of capacity lease agreements	2 months
NEXUS pipeline | Vector
Loss Contingencies [Line Items]
Maximum potential liability	$ 7,000,000
Percentage of payment obligations due	50.00%
Guarantee termination, minimum threshold, period following end of primary term of capacity lease agreements	15 years
Other guarantees
Loss Contingencies [Line Items]
Maximum potential liability	$ 56,000,000
Performance surety bonds
Loss Contingencies [Line Items]
Performance bonds outstanding	$ 108,000,000
Reduction of Carbon Emissions by Early 2020s
Loss Contingencies [Line Items]
Commitment to reduce carbon emissions, percentage	32.00%
Reduction of Carbon Emissions by 2030
Loss Contingencies [Line Items]
Commitment to reduce carbon emissions, percentage	50.00%
Reduction of Carbon Emissions by 2040
Loss Contingencies [Line Items]
Commitment to reduce carbon emissions, percentage	80.00%
DTE Electric
Loss Contingencies [Line Items]
Number of power plants in violation | plant				5
Number of NOVs/FOVs | NOV	2
Environmental capital expenditures through prior year end		2,400,000,000
Number of former MGP sites | site	3
Accrued for remediation	$ 8,000,000	7,000,000
Number of permitted engineered ash storage facilities owned | facility	3
Estimated utility capital expenditures, expenditures for non-utility businesses, and contributions to equity method investees	$ 2,200,000,000
Long-lived assets used in producing electric output for sale	$ 17,220,000,000	15,437,000,000
DTE Electric | Workforce subject to collective bargaining arrangements | Labor force concentration risk
Loss Contingencies [Line Items]
Number of employees | employee	2,800
DTE Electric | Reduction of Carbon Emissions by 2050
Loss Contingencies [Line Items]
Goal of net carbon emissions, percentage	0.00%
DTE Gas
Loss Contingencies [Line Items]
Number of former MGP sites | site	14
Accrued for remediation	$ 25,000,000	$ 25,000,000
Amortization period (in years)	10 years
DTE Gas | NEXUS pipeline | DTE Gas
Loss Contingencies [Line Items]
Percentage of payment obligations due	50.00%
DTE Gas | Clean up completed and site closed
Loss Contingencies [Line Items]
Number of former MGP sites | site	8
DTE Gas | Partial closure complete
Loss Contingencies [Line Items]
Number of former MGP sites | site	4
NEXUS | NEXUS pipeline | DTE Gas
Loss Contingencies [Line Items]
Agreement term	15 years
NEXUS | NEXUS pipeline | Texas Eastern Transmission, LP
Loss Contingencies [Line Items]
Agreement term	15 years
NEXUS | NEXUS pipeline | Vector
Loss Contingencies [Line Items]
Agreement term	15 years

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Financial and Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash collateral netted against Derivative assets	$ 0	$ (17)
Cash collateral recorded in Accounts receivable	9	10
Cash collateral recorded in Accounts payable	(6)	(6)
Total net cash collateral posted (received)	$ 3	$ (13)

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Subsequent Events (Details Textuals) - USD ($) $ in Millions	1 Months Ended	6 Months Ended	9 Months Ended		13 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2020
Subsequent Event [Line Items]
Estimated purchase price			$ 174	$ 0
Subsequent Event | Forecast | M5 Louisiana Gathering, LLC
Subsequent Event [Line Items]
Percent of assets acquired	100.00%
Estimated purchase price	$ 2,250	$ 400			$ 2,650

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Organization and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2019

Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]

Schedule of Variable Interest Entities

The following table summarizes the major Consolidated Statements of Financial Position items for consolidated VIEs as of September 30, 2019 and December 31, 2018. All assets and liabilities of a consolidated VIE are presented where it has been determined that a consolidated VIE has either (1) assets that can be used only to settle obligations of the VIE or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. VIEs, in which DTE Energy holds a majority voting interest and is the primary beneficiary, that meet the definition of a business and whose assets can be used for purposes other than the settlement of the VIE's obligations have been excluded from the table below.

Amounts for DTE Energy's consolidated VIEs are as follows:

	September 30, 2019						December 31, 2018
	SGG(a)		Other		Total		SGG(a)		Other		Total
	(In millions)
ASSETS
Cash and cash equivalents	$	20	$	12	$	32	$	25	$	14	$	39
Restricted cash	—		—		—		—		5		5
Accounts receivable	10		27		37		9		37		46
Inventories	—		97		97		1		92		93
Property, plant, and equipment, net	406		36		442		395		46		441
Goodwill	25		—		25		25		—		25
Intangible assets	546		—		546		557		—		557
Other current and long-term assets	1		—		1		3		—		3
	$	1,008	$	172	$	1,180	$	1,015	$	194	$	1,209
LIABILITIES
Accounts payable and accrued current liabilities	$	5	$	18	$	23	$	3	$	31	$	34
Other current and long-term liabilities	6		7		13		9		10		19
	$	11	$	25	$	36	$	12	$	41	$	53

_____________________________________

(a)Amounts shown are 100% of SGG's assets and liabilities, of which DTE Energy owns 85% at September 30, 2019 and 55% at December 31, 2018.

Summary of Amounts for Non-Consolidated Variable Interest Entities

Amounts for DTE Energy's non-consolidated VIEs are as follows:

	September 30, 2019		December 31, 2018
	(In millions)
Investments in equity method investees	$	1,487	$	1,425
Notes receivable	$	26	$	15
Future funding commitments	$	55	$	55

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Retirement Benefits and Trusteed Assets

9 Months Ended

Sep. 30, 2019

Defined Benefit Plan [Abstract]

Retirement Benefits and Trusteed Assets

RETIREMENT BENEFITS AND TRUSTEED ASSETS

The following tables detail the components of net periodic benefit costs (credits) for pension benefits and other postretirement benefits for DTE Energy:

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Service cost	$	21		$	24		$	5		$	6
Interest cost	55			51			18			18
Expected return on plan assets	(82		)	(82		)	(30		)	(36		)
Amortization of:
Net actuarial loss	33			43			3			3
Prior service credit	—			—			(3		)	—
Net periodic benefit cost (credit)	$	27		$	36		$	(7	)	$	(9	)

	Pension Benefits						Other Postretirement Benefits
	Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Service cost	$	63		$	74		$	16		$	20
Interest cost	164			151			53			52
Expected return on plan assets	(244		)	(247		)	(92		)	(107		)
Amortization of:
Net actuarial loss	99			132			9			8
Prior service credit	—			—			(7		)	—
Net periodic benefit cost (credit)	$	82		$	110		$	(21	)	$	(27	)

DTE Electric participates in various plans that provide pension and other postretirement benefits for DTE Energy and its affiliates. The plans are sponsored by DTE Energy's subsidiary, DTE Energy Corporate Services, LLC. DTE Electric accounts for its participation in DTE Energy's qualified and nonqualified pension plans by applying multiemployer accounting. DTE Electric accounts for its participation in other postretirement benefit plans by applying multiple-employer accounting. Within multiemployer and multiple-employer plans, participants pool plan assets for investment purposes and to reduce the cost of plan administration. The primary difference between plan types is assets contributed in multiemployer plans can be used to provide benefits for all participating employers, while assets contributed within a multiple-employer plan are restricted for use by the contributing employer. As a result of multiemployer accounting treatment, capitalized costs associated with these plans are reflected in Property, plant, and equipment in DTE Electric's Consolidated Statements of Financial Position. The same capitalized costs are reflected as Regulatory assets and liabilities in DTE Energy's Consolidated Statements of Financial Position. In addition, the service cost and non-service cost components are presented in Operation and maintenance in DTE Electric's Consolidated Statements of Operations. The same non-service cost components are presented in Other (Income) and Deductions — Non-operating retirement benefits, net in DTE Energy's Consolidated Statements of Operations. Plan participants of all plans are solely DTE Energy and affiliate participants.

DTE Energy's subsidiaries are responsible for their share of qualified and nonqualified pension benefit costs. DTE Electric's allocated portion of pension benefit costs included in capital expenditures and operating and maintenance expense were $23 million and $30 million for the three months ended September 30, 2019 and 2018, respectively, and $68 million and $90 million for the nine months ended September 30, 2019 and 2018, respectively. These amounts include recognized contractual termination benefit charges, curtailment gains, and settlement charges.

The following tables detail the components of net periodic benefit costs (credits) for other postretirement benefits for DTE Electric:

	Other Postretirement Benefits
	Three Months Ended September 30,
	2019			2018
	(In millions)
Service cost	$	4		$	5
Interest cost	13			13
Expected return on plan assets	(21		)	(25		)
Amortization of:
Net actuarial loss	1			3
Prior service credit	(1		)	—
Net periodic benefit credit	$	(4	)	$	(4	)

	Other Postretirement Benefits
	Nine Months Ended September 30,
	2019			2018
	(In millions)
Service cost	$	12		$	15
Interest cost	40			40
Expected return on plan assets	(63		)	(74		)
Amortization of:
Net actuarial loss	3			7
Prior service credit	(5		)	—
Net periodic benefit credit	$	(13	)	$	(12	)

Pension and Other Postretirement Contributions

During 2019, DTE Energy contributed the following amounts of DTE Energy common stock to the DTE Energy Company Affiliates Employee Benefit Plans Master Trust:

Date	Number of Shares	Price per Share		Amount
				(In millions)
March 5, 2019	814,597	$	122.76	$	100

The above contribution was made on behalf of DTE Electric, for which DTE Electric paid DTE Energy cash consideration of $100 million in March 2019. DTE Energy made cash contributions of $50 million to the qualified pension plans in the first nine months of 2019. DTE Energy does not anticipate making any additional contributions to its pension or other postretirement benefit plans in 2019.

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Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating Activities
Net Income	$ 904	$ 922
Net Income	902	929
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	923	826
Nuclear fuel amortization	45	39
Allowance for equity funds used during construction	(18)	(20)
Deferred income taxes	285	118
Equity earnings of equity method investees	(77)	(99)
Dividends from equity method investees	129	48
Asset (gains) losses and impairments, net	14	11
Changes in assets and liabilities:
Accounts receivable, net	188	85
Inventories	5	11
Prepaid postretirement benefit costs	(29)	(45)
Accounts payable	(291)	9
Accrued pension liability	(179)	(205)
Accrued postretirement liability	0	(61)
Derivative assets and liabilities	8	24
Regulatory assets and liabilities	203	283
Other current and noncurrent assets and liabilities	(209)	101
Net cash from operating activities	1,901	2,047
Investing Activities
Plant and equipment expenditures — utility	(1,982)	(1,562)
Plant and equipment expenditures — non-utility	(177)	(217)
Acquisition, net of cash acquired	(174)	0
Notes receivable	(81)	0
Proceeds from sale of nuclear decommissioning trust fund assets	594	810
Investment in nuclear decommissioning trust funds	(599)	(810)
Distributions from equity method investees	9	8
Contributions to equity method investees	(128)	(545)
Other	(20)	(20)
Net cash used for investing activities	(2,558)	(2,336)
Financing Activities
Issuance of long-term debt, net of issuance costs	1,433	1,433
Redemption of long-term debt	0	(105)
Short-term borrowings, net	115
Short-term borrowings, net		(544)
Issuance of common stock	0	7
Dividends paid on common stock	(518)	(459)
Contributions from noncontrolling interests, principally REF entities	23	43
Distributions to noncontrolling interests	(44)	(31)
Purchases of noncontrolling interest, principally SGG	(300)	0
Other	(52)	(40)
Net cash from financing activities	657	304
Net Increase (Decrease) in Cash and Cash Equivalents	0	15
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	76	89
Cash, Cash Equivalents, and Restricted Cash at End of Period	76	104
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	292	275
DTE Electric
Operating Activities
Net Income	587	608
Adjustments to reconcile Net Income to Net cash from operating activities:
Depreciation and amortization	694	616
Nuclear fuel amortization	45	39
Allowance for equity funds used during construction	(17)	(14)
Deferred income taxes	66	156
Asset (gains) losses and impairments, net	13	0
Changes in assets and liabilities:
Accounts receivable, net	(20)	(89)
Inventories	(14)	43
Accounts payable	(15)	18
Accrued pension liability — affiliates	(107)	(185)
Accrued postretirement liability — affiliates	(16)	(71)
Regulatory assets and liabilities	178	195
Other current and noncurrent assets and liabilities	(237)	(71)
Net cash from operating activities	1,157	1,245
Investing Activities
Plant and equipment expenditures	(1,611)	(1,248)
Proceeds from sale of nuclear decommissioning trust fund assets	594	810
Investment in nuclear decommissioning trust funds	(599)	(810)
Other	(19)	(7)
Net cash used for investing activities	(1,635)	(1,255)
Financing Activities
Issuance of long-term debt, net of issuance costs	643	520
Short-term borrowings, net — affiliate	(4)	27
Short-term borrowings, net — other	233	(187)
Dividends paid on common stock	(370)	(346)
Other	(16)	(7)
Net cash from financing activities	486	7
Net Increase (Decrease) in Cash and Cash Equivalents	8	(3)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	18	15
Cash, Cash Equivalents, and Restricted Cash at End of Period	26	12
Supplemental disclosure of non-cash investing and financing activities
Plant and equipment expenditures in accounts payable	$ 168	$ 152

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Revenue (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following is a summary of revenues disaggregated by segment for DTE Energy:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Electric(a)
Residential	$	791	$	773	$	1,839	$	1,943
Commercial	515		495		1,358		1,370
Industrial	175		173		497		527
Other(b)	39		80		251		162
Total Electric operating revenues(c)	$	1,520	$	1,521	$	3,945	$	4,002
Gas
Gas sales	$	87	$	89	$	727	$	726
End User Transportation	35		34		157		168
Intermediate Transportation	15		9		57		38
Other(b)	18		32		102		37
Total Gas operating revenues(d)	$	155	$	164	$	1,043	$	969
Other segment operating revenues
Gas Storage and Pipelines(e)	$	126	$	122	$	363	$	363
Power and Industrial Projects(f)	$	406	$	612	$	1,196	$	1,717
Energy Trading(g)	$	1,105	$	1,332	$	3,519	$	3,994

_______________________________________

(a) Revenues under the Electric segment generally represent those of DTE Electric.

(b) Includes revenue adjustments related to various regulatory mechanisms.

(c) Includes $5 million and $6 million of other revenues outside the scope of Topic 606 for the three months ended September 30, 2019 and 2018, respectively, and $14 million and $15 million for the nine months ended September 30, 2019 and 2018, respectively.

(d) Includes $4 million under Alternative Revenue Programs for the nine months ended September 30, 2018. Also includes $2 million of other revenues for the three months ended September 30, 2019 and 2018 and $6 million for the nine months ended September 30, 2019 and 2018, which are both outside the scope of Topic 606.

(e) Includes revenues outside the scope of Topic 606 primarily related to $2 million and $7 million of contracts accounted for as leases for the three and nine months ended September 30, 2019, respectively.

(f) Includes revenues outside the scope of Topic 606 primarily related to $33 million and $37 million of contracts accounted for as leases for the three months ended September 30, 2019 and 2018, respectively, and $94 million and $93 million for the nine months ended September 30, 2019 and 2018, respectively.

(g)

Includes revenues outside the scope of Topic 606 primarily related to $791 million and $1.1 billion of derivatives for the three months ended September 30, 2019 and 2018, respectively, and $2.6 billion and $3.2 billion of derivatives for the nine months ended September 30, 2019 and 2018, respectively.

Summary of Deferred Revenue Activity

The following is a summary of deferred revenue activity:

	DTE Energy
	(In millions)
Beginning Balance, January 1, 2019	$	74
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	41
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(50		)
Ending Balance, September 30, 2019	$	65

Deferred Revenue Amounts Expected to be Recognized as Revenue in Future Periods

The following table represents deferred revenue amounts for DTE Energy that are expected to be recognized as revenue in future periods:

	DTE Energy
	(In millions)
2019	$	9
2020	25
2021	6
2022	7
2023	6
2024 and thereafter	12
	$	65

The Registrants expect to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:

	DTE Energy		DTE Electric
	(In millions)
2019	$	52	$	3
2020	290		—
2021	269		—
2022	206		—
2023	142		—
2024 and thereafter	648		—
	$	1,607	$	3

Schedule of Expenses Recognized for Estimated Uncollectible Accounts Receivable

The following table represents expenses recognized for estimated uncollectible accounts receivable:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
DTE Energy	$	28	$	39	$	81	$	95
DTE Electric	$	17	$	26	$	47	$	57

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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Issued Debt

In 2019, the following debt was issued:

Company	Month	Type	Interest Rate	Maturity Date	Amount
					(In millions)
DTE Electric	February	Mortgage Bonds(a)	3.95%	2049	$	650
DTE Energy	June	Senior Notes(b)	2.60%	2022	300
DTE Energy	June	Senior Notes(b)	3.40%	2029	500
					$	1,450

_______________________________________

(a) Bonds were issued as Green Bonds and the proceeds will be used to finance expenditures for solar and wind energy, payments under power purchase agreements for solar and wind energy, and energy optimization programs.

(b)

Proceeds were used for the repayment of short-term borrowings and general corporate purposes.

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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Income	$ 317	$ 335	$ 904	$ 922
Net Income	319	334	902	929
Other comprehensive income (loss), net of tax:
Benefit obligations, net of taxes of $2, $—, $4 and $2, respectively	4	2	11	7
Net unrealized gains (losses) on derivatives during the period, net of taxes of $(1), $—, $(4), and $—, respectively	(4)		(13)
Net unrealized gains (losses) on derivatives during the period, net of taxes of $(1), $—, $(4), and $—, respectively		1		1
Foreign currency translation	0	0	1	(1)
Other comprehensive income (loss)	0	3	(1)	7
Comprehensive income	317	338	903	929
Less: Comprehensive income (loss) attributable to noncontrolling interests	(2)	1	2	(7)
Comprehensive Income Attributable to DTE Energy Company/DTE Electric Company	319	337	901	936
DTE Electric
Net Income	307	305	587	608
Other comprehensive income (loss), net of tax:
Other comprehensive income (loss)	0	0	0	0
Comprehensive Income Attributable to DTE Energy Company/DTE Electric Company	$ 307	$ 305	$ 587	$ 608

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Segment and Related Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider and primarily consists of the sale of reduced emissions fuel, power sales, and natural gas sales in the following segments:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Electric	$	16	$	13	$	43	$	39
Gas	3		3		8		9
Gas Storage and Pipelines	11		7		17		29
Power and Industrial Projects	160		171		462		488
Energy Trading	4		6		16		18
Corporate and Other	1		1		2		2
	$	195	$	201	$	548	$	585

Financial data of DTE Energy's business segments follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Operating Revenues — Utility operations
Electric	$	1,520		$	1,521		$	3,945		$	4,002
Gas	155			164			1,043			969
Operating Revenues — Non-utility operations
Gas Storage and Pipelines	126			122			363			363
Power and Industrial Projects	406			612			1,196			1,717
Energy Trading	1,105			1,332			3,519			3,994
Corporate and Other	2			—			3			2
Reconciliation and Eliminations	(195		)	(201		)	(548		)	(585		)
Total	$	3,119		$	3,550		$	9,521		$	10,462

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment:
Electric	$	307		$	305		$	587		$	608
Gas	(38		)	(30		)	121			88
Gas Storage and Pipelines	60			66			158			188
Power and Industrial Projects	49			58			104			146
Energy Trading	(14		)	(13		)	12			13
Corporate and Other	(45		)	(52		)	(80		)	(114		)
Net Income Attributable to DTE Energy Company	$	319		$	334		$	902		$	929

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Fair Value

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value

FAIR VALUE

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Registrants make certain assumptions they believe that market participants would use in pricing assets or liabilities, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. Credit risk of the Registrants and their counterparties is incorporated in the valuation of assets and liabilities through the use of credit reserves, the impact of which was immaterial at September 30, 2019 and December 31, 2018. The Registrants believe they use valuation techniques that maximize the use of observable market-based inputs and minimize the use of unobservable inputs.

A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. All assets and liabilities are required to be classified in their entirety based on the lowest level of input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability and may affect the valuation of the asset or liability and its placement within the fair value hierarchy. The Registrants classify fair value balances based on the fair value hierarchy defined as follows:

• Level 1 — Consists of unadjusted quoted prices in active markets for identical assets or liabilities that the Registrants have the ability to access as of the reporting date.

• Level 2 — Consists of inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.

• Level 3 — Consists of unobservable inputs for assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost-benefit constraints.

The following table presents assets and liabilities for DTE Energy measured and recorded at fair value on a recurring basis^(a):

	September 30, 2019																	December 31, 2018
	Level 1			Level 2			Level 3			Other(b)		Netting(c)			Net Balance			Level 1			Level 2			Level 3			Other(b)		Netting(c)			Net Balance
	(In millions)
Assets
Cash equivalents(d)	$	21		$	—		$	—		$	—	$	—		$	21		$	16		$	2		$	—		$	—	$	—		$	18
Nuclear decommissioning trusts
Equity securities	990			—			—			—		—			990			851			—			—			—		—			851
Fixed income securities	9			535			—			—		—			544			12			490			—			—		—			502
Private equity and other	—			—			—			34		—			34			—			—			—			20		—			20
Cash equivalents	9			—			—			—		—			9			5			—			—			—		—			5
Other investments(e)
Equity securities	130			—			—			—		—			130			110			—			—			—		—			110
Fixed income securities	78			—			—			—		—			78			69			—			—			—		—			69
Cash equivalents	4			—			—			—		—			4			4			—			—			—		—			4
Derivative assets
Commodity contracts
Natural gas	109			90			54			—		(189		)	64			199			87			63			—		(277		)	72
Electricity	—			128			36			—		(124		)	40			—			247			56			—		(252		)	51
Other	5			—			5			—		(5		)	5			—			—			7			—		(1		)	6
Foreign currency exchange contracts	—			2			—			—		—			2			—			4			—			—		—			4
Total derivative assets	114			220			95			—		(318		)	111			199			338			126			—		(530		)	133
Total	$	1,355		$	755		$	95		$	34	$	(318	)	$	1,921		$	1,266		$	830		$	126		$	20	$	(530	)	$	1,712
Liabilities
Derivative liabilities
Commodity contracts
Natural gas	$	(130	)	$	(72	)	$	(95	)	$	—	$	189		$	(108	)	$	(197	)	$	(71	)	$	(112	)	$	—	$	272		$	(108	)
Electricity	—			(127		)	(28		)	—		124			(31		)	—			(227		)	(58		)	—		240			(45		)
Other	(7		)	(1		)	—			—		5			(3		)	—			(1		)	—			—		1			—
Interest rate contracts	—			—			—			—		—			—			—			(3		)	—			—		—			(3		)
Total derivative liabilities	(137		)	(200		)	(123		)	—		318			(142		)	(197		)	(302		)	(170		)	—		513			(156		)
Total	$	(137	)	$	(200	)	$	(123	)	$	—	$	318		$	(142	)	$	(197	)	$	(302	)	$	(170	)	$	—	$	513		$	(156	)
Net Assets (Liabilities) at end of period	$	1,218		$	555		$	(28	)	$	34	$	—		$	1,779		$	1,069		$	528		$	(44	)	$	20	$	(17	)	$	1,556
Assets
Current	$	130		$	175		$	62		$	—	$	(271	)	$	96		$	212		$	273		$	96		$	—	$	(461	)	$	120
Noncurrent	1,225			580			33			34		(47		)	1,825			1,054			557			30			20		(69		)	1,592
Total Assets	$	1,355		$	755		$	95		$	34	$	(318	)	$	1,921		$	1,266		$	830		$	126		$	20	$	(530	)	$	1,712
Liabilities
Current	$	(123	)	$	(163	)	$	(53	)	$	—	$	271		$	(68	)	$	(191	)	$	(251	)	$	(76	)	$	—	$	451		$	(67	)
Noncurrent	(14		)	(37		)	(70		)	—		47			(74		)	(6		)	(51		)	(94		)	—		62			(89		)
Total Liabilities	$	(137	)	$	(200	)	$	(123	)	$	—	$	318		$	(142	)	$	(197	)	$	(302	)	$	(170	)	$	—	$	513		$	(156	)
Net Assets (Liabilities) at end of period	$	1,218		$	555		$	(28	)	$	34	$	—		$	1,779		$	1,069		$	528		$	(44	)	$	20	$	(17	)	$	1,556

_______________________________________

(a) See footnotes on following page.

_______________________________________

(b) Amounts represent assets valued at NAV as a practical expedient for fair value.

(c) Amounts represent the impact of master netting agreements that allow DTE Energy to net gain and loss positions and cash collateral held or placed with the same counterparties.

(d) At September 30, 2019, the $21 million consisted of $10 million and $11 million of cash equivalents included in Cash and cash equivalents and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively. At December 31, 2018, the $18 million consisted of $3 million, $5 million and $10 million of cash equivalents included in Cash and cash equivalents, Restricted cash, and Other investments on DTE Energy's Consolidated Statements of Financial Position, respectively.

(e) Excludes cash surrender value of life insurance investments.

The following table presents assets for DTE Electric measured and recorded at fair value on a recurring basis as of:

	September 30, 2019										December 31, 2018
	Level 1		Level 2		Level 3		Other(a)		Net Balance		Level 1		Level 2		Level 3		Other(a)		Net Balance
	(In millions)
Assets
Cash equivalents(b)	$	11	$	—	$	—	$	—	$	11	$	8	$	2	$	—	$	—	$	10
Nuclear decommissioning trusts
Equity securities	990		—		—		—		990		851		—		—		—		851
Fixed income securities	9		535		—		—		544		12		490		—		—		502
Private equity and other	—		—		—		34		34		—		—		—		20		20
Cash equivalents	9		—		—		—		9		5		—		—		—		5
Other investments
Equity securities	12		—		—		—		12		10		—		—		—		10
Derivative assets — FTRs	—		—		5		—		5		—		—		6		—		6
Total	$	1,031	$	535	$	5	$	34	$	1,605	$	886	$	492	$	6	$	20	$	1,404
Assets
Current	$	11	$	—	$	5	$	—	$	16	$	8	$	2	$	6	$	—	$	16
Noncurrent	1,020		535		—		34		1,589		878		490		—		20		1,388
Total Assets	$	1,031	$	535	$	5	$	34	$	1,605	$	886	$	492	$	6	$	20	$	1,404

_______________________________________

(a) Amounts represent assets valued at NAV as a practical expedient for fair value.

(b) At September 30, 2019, the $11 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position. At December 31, 2018, the $10 million consisted of cash equivalents included in Other investments on DTE Electric's Consolidated Statements of Financial Position.

Cash Equivalents

Cash equivalents include investments with maturities of three months or less when purchased. The cash equivalents shown in the fair value table are comprised of short-term investments and money market funds.

Nuclear Decommissioning Trusts and Other Investments

The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through commingled funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. Commingled funds that hold exchange-traded equity or debt securities are valued based on stated NAVs. Non-exchange-traded fixed income securities are valued based upon quotations available from brokers or pricing services. Other assets such as private equity investments are classified as NAV assets. A primary price source is identified by asset type, class, or issue for each security. The trustee monitors prices supplied by pricing services and may use a supplemental price source or change the primary price source of a given security if the trustee determines that another price source is considered preferable. The Registrants have obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices.

Derivative Assets and Liabilities

Derivative assets and liabilities are comprised of physical and financial derivative contracts, including futures, forwards, options, and swaps that are both exchange-traded and over-the-counter traded contracts. Various inputs are used to value derivatives depending on the type of contract and availability of market data. Exchange-traded derivative contracts are valued using quoted prices in active markets. The Registrants consider the following criteria in determining whether a market is considered active: frequency in which pricing information is updated, variability in pricing between sources or over time, and the availability of public information. Other derivative contracts are valued based upon a variety of inputs including commodity market prices, broker quotes, interest rates, credit ratings, default rates, market-based seasonality, and basis differential factors. The Registrants monitor the prices that are supplied by brokers and pricing services and may use a supplemental price source or change the primary price source of an index if prices become unavailable or another price source is determined to be more representative of fair value. The Registrants have obtained an understanding of how these prices are derived. Additionally, the Registrants selectively corroborate the fair value of their transactions by comparison of market-based price sources. Mathematical valuation models are used for derivatives for which external market data is not readily observable, such as contracts which extend beyond the actively traded reporting period. The Registrants have established a Risk Management Committee whose responsibilities include directly or indirectly ensuring all valuation methods are applied in accordance with predefined policies. The development and maintenance of the Registrants' forward price curves has been assigned to DTE Energy's Risk Management Department, which is separate and distinct from the trading functions within DTE Energy.

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Energy:

	Three Months Ended September 30, 2019												Three Months Ended September 30, 2018
	Natural Gas			Electricity			Other			Total			Natural Gas			Electricity			Other			Total
	(In millions)
Net Assets (Liabilities) as of June 30	$	(10	)	$	10		$	9		$	9		$	(25	)	$	(13	)	$	15		$	(23	)
Transfers into Level 3 from Level 2	—			—			—			—			—			—			—			—
Transfers from Level 3 into Level 2	—			—			—			—			—			—			—			—
Total gains (losses)
Included in earnings	(35		)	37			—			2			(30		)	21			—			(9		)
Recorded in Regulatory liabilities	—			—			(3		)	(3		)	—			—			(8		)	(8		)
Purchases, issuances, and settlements
Settlements	4			(39		)	(1		)	(36		)	9			(18		)	(1		)	(10		)
Net Assets (Liabilities) as of September 30	$	(41	)	$	8		$	5		$	(28	)	$	(46	)	$	(10	)	$	6		$	(50	)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	$	(36	)	$	15		$	(1	)	$	(22	)	$	(31	)	$	10		$	(1	)	$	(22	)

	Nine Months Ended September 30, 2019												Nine Months Ended September 30, 2018
	Natural Gas			Electricity			Other			Total			Natural Gas			Electricity			Other			Total
	(In millions)
Net Assets (Liabilities) as of December 31	$	(49	)	$	(2	)	$	7		$	(44	)	$	(29	)	$	12		$	8		$	(9	)
Transfers into Level 3 from Level 2	—			—			—			—			—			—			—			—
Transfers from Level 3 into Level 2	—			—			—			—			(3		)	—			—			(3		)
Total gains (losses)
Included in earnings	(4		)	47			(1		)	42			(128		)	25			1			(102		)
Recorded in Regulatory liabilities	—			—			3			3			—			—			6			6
Purchases, issuances, and settlements
Settlements	12			(37		)	(4		)	(29		)	114			(47		)	(9		)	58
Net Assets (Liabilities) as of September 30	$	(41	)	$	8		$	5		$	(28	)	$	(46	)	$	(10	)	$	6		$	(50	)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	$	(20	)	$	32		$	(6	)	$	6		$	(109	)	$	4		$	(3	)	$	(108	)

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for DTE Electric:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net Assets as of beginning of period	$	9		$	15		$	6		$	9
Change in fair value recorded in Regulatory liabilities	(3		)	(8		)	3			6
Purchases, issuances, and settlements
Settlements	(1		)	(1		)	(4		)	(9		)
Net Assets as of September 30	$	5		$	6		$	5		$	6
The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets held at September 30, 2019 and 2018 and reflected in DTE Electric's Consolidated Statements of Financial Position	$	(1	)	$	(2	)	$	5		$	6

Derivatives are transferred between levels primarily due to changes in the source data used to construct price curves as a result of changes in market liquidity. Transfers in and transfers out are reflected as if they had occurred at the beginning of the period.

There were no transfers between Levels 1 and 2 for the Registrants during the three and nine months ended September 30, 2019 and 2018, and there were no transfers from or into Level 3 for DTE Electric during the same periods.

The following tables present the unobservable inputs related to DTE Energy's Level 3 assets and liabilities:

	September 30, 2019
Commodity Contracts	Derivative Assets		Derivative Liabilities			Valuation Techniques	Unobservable Input	Range							Weighted Average
	(In millions)
Natural Gas	$	54	$	(95	)	Discounted Cash Flow	Forward basis price (per MMBtu)	$	(1.55	)	—	$	6.17	/MMBtu	$	(0.09	)/MMBtu
Electricity	$	36	$	(28	)	Discounted Cash Flow	Forward basis price (per MWh)	$	(13	)	—	$	7	/MWh	$	—

	December 31, 2018
Commodity Contracts	Derivative Assets		Derivative Liabilities			Valuation Techniques	Unobservable Input	Range							Weighted Average
	(In millions)
Natural Gas	$	63	$	(112	)	Discounted Cash Flow	Forward basis price (per MMBtu)	$	(2.15	)	—	$	5.59	/MMBtu	$	(0.10	)/MMBtu
Electricity	$	56	$	(58	)	Discounted Cash Flow	Forward basis price (per MWh)	$	(7	)	—	$	9	/MWh	$	1	/MWh

The unobservable inputs used in the fair value measurement of the electricity and natural gas commodity types consist of inputs that are less observable due in part to lack of available broker quotes, supported by little, if any, market activity at the measurement date or are based on internally developed models. Certain basis prices (i.e., the difference in pricing between two locations) included in the valuation of natural gas and electricity contracts were deemed unobservable.

The inputs listed above would have a direct impact on the fair values of the above security types if they were adjusted. A significant increase (decrease) in the basis price would result in a higher (lower) fair value for long positions, with offsetting impacts to short positions.

Fair Value of Financial Instruments

The following table presents the carrying amount and fair value of financial instruments for DTE Energy:

	September 30, 2019								December 31, 2018
	Carrying		Fair Value						Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Amount		Level 1		Level 2		Level 3
	(In millions)
Notes receivable(a), excluding lessor finance leases	$	178	$	—	$	—	$	178	$	40	$	—	$	—	$	40
Dividends payable	$	173	$	173	$	—	$	—	$	172	$	172	$	—	$	—
Short-term borrowings	$	724	$	—	$	724	$	—	$	609	$	—	$	609	$	—
Notes payable — Other(b), excluding lessee finance leases	$	27	$	—	$	—	$	27	$	41	$	—	$	—	$	41
Long-term debt(c)	$	15,056	$	1,277	$	14,216	$	1,138	$	13,622	$	1,796	$	10,712	$	1,317

_______________________________________

(a) Current portion included in Current Assets — Other on DTE Energy's Consolidated Statements of Financial Position.

(b) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Energy's Consolidated Statements of Financial Position.

(c) Includes debt due within one year, unamortized debt discounts, and issuance costs. Excludes finance lease obligations.

The following table presents the carrying amount and fair value of financial instruments for DTE Electric:

	September 30, 2019								December 31, 2018
	Carrying		Fair Value						Carrying		Fair Value
	Amount		Level 1		Level 2		Level 3		Amount		Level 1		Level 2		Level 3
	(In millions)
Notes receivable — Other(a), excluding lessor finance leases	$	14	$	—	$	—	$	14	$	6	$	—	$	—	$	6
Short-term borrowings — affiliates	$	97	$	—	$	—	$	97	$	101	$	—	$	—	$	101
Short-term borrowings — other	$	382	$	—	$	382	$	—	$	149	$	—	$	149	$	—
Notes payable — Other(b), excluding lessee finance leases	$	23	$	—	$	—	$	23	$	21	$	—	$	—	$	21
Long-term debt(c)	$	7,179	$	—	$	7,996	$	176	$	6,538	$	—	$	6,552	$	161

_______________________________________

(a) Included in Current Assets — Other on DTE Electric's Consolidated Statements of Financial Position.

(b) Included in Current Liabilities — Other and Other Liabilities — Other on DTE Electric's Consolidated Statements of Financial Position.

(c) Includes debt due within one year, unamortized debt discounts, and issuance costs. Excludes finance lease obligations.

For further fair value information on financial and derivative instruments, see Note 9 to the Consolidated Financial Statements, "Financial and Other Derivative Instruments."

Nuclear Decommissioning Trust Funds

DTE Electric has a legal obligation to decommission its nuclear power plants following the expiration of its operating licenses. This obligation is reflected as an Asset retirement obligation on DTE Electric's Consolidated Statements of Financial Position. Rates approved by the MPSC provide for the recovery of decommissioning costs of Fermi 2 and the disposal of low-level radioactive waste.

The following table summarizes DTE Electric's fair value of the nuclear decommissioning trust fund assets:

	September 30, 2019		December 31, 2018
	(In millions)
Fermi 2	$	1,567	$	1,372
Fermi 1	3		3
Low-level radioactive waste	7		3
	$	1,577	$	1,378

The costs of securities sold are determined on the basis of specific identification. The following table sets forth DTE Electric's gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Realized gains	$	15		$	10		$	43		$	52
Realized losses	$	(8	)	$	(7	)	$	(25	)	$	(22	)
Proceeds from sale of securities	$	198		$	194		$	594		$	810

Realized gains and losses from the sale of securities and unrealized gains and losses incurred by the Fermi 2 trust are recorded to the Regulatory asset and Nuclear decommissioning liability. Realized gains and losses from the sale of securities and unrealized gains and losses on the low-level radioactive waste funds are recorded to the Nuclear decommissioning liability.

The following table sets forth DTE Electric's fair value and unrealized gains and losses for the nuclear decommissioning trust funds:

	September 30, 2019							December 31, 2018
	Fair Value		Unrealized Gains		Unrealized Losses			Fair Value		Unrealized Gains		Unrealized Losses
	(In millions)
Equity securities	$	990	$	335	$	(53	)	$	851	$	235	$	(79	)
Fixed income securities	544		27		(1		)	502		7		(8		)
Private equity and other	34		—		—			20		—		—
Cash equivalents	9		—		—			5		—		—
	$	1,577	$	362	$	(54	)	$	1,378	$	242	$	(87	)

The following table summarizes the fair value of the fixed income securities held in nuclear decommissioning trust funds by contractual maturity:

	September 30, 2019
	(In millions)
Due within one year	$	23
Due after one through five years	98
Due after five through ten years	108
Due after ten years	315
	$	544

Other Securities

At September 30, 2019 and December 31, 2018, the Registrants' securities, included in Other investments on the Consolidated Statements of Financial Position, were comprised primarily of money market and equity securities. For the three months ended September 30, 2019 and 2018, gains related to equity securities were $3 million and $5 million, respectively. For the nine months ended September 30, 2019 and 2018, gains related to equity securities were $27 million and $4 million, respectively. Gains or losses related to the Rabbi Trust assets are allocated from DTE Energy to DTE Electric.

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Acquisitions

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

Electric Segment Acquisition

Effective September 12, 2019, DTE Energy closed on the purchase of an 89 MW renewable energy project located in Michigan from Heritage Sustainable Energy in support of renewable energy goals. Direct transaction costs primarily related to advisory fees were immaterial and are included in Operation and maintenance in DTE Energy's Consolidated Statements of Operations. The consideration paid for the entity acquired was approximately $174 million in cash.

The acquisition was accounted for using the acquisition method of accounting for business combinations. Accordingly, the cost was allocated to the underlying net assets based on their respective fair values as shown below:

	(In millions)
Contract intangibles	$	111
Property, plant, and equipment, net	59
Working capital	4
Total	$	174

The intangible assets recorded pertain to existing customer contracts and were estimated by applying the income approach, based on discounted projected cash flows attributable to the existing agreements. The contract intangible assets are amortized on a straight line basis with useful lives ranging from 11 years to 14 years, which is based on the remaining number of years the assets are expected to economically contribute to the business. The pro forma financial information has not been presented for DTE Energy because the effects of the acquisition were not material to the Consolidated Statements of Operations.

Concurrent with the above acquisition, DTE Energy entered into a separate purchase and sale agreement with Heritage Sustainable Energy to acquire an additional renewable energy project for approximately $30 million. This transaction is expected to close in early January 2020.

Gas Storage and Pipelines Segment Acquisition

Effective September 20, 2019, NEXUS closed on the purchase of Generation Pipeline, LLC, a pipeline system regulated by the Public Utilities Commission of Ohio. The 23-mile pipeline system supplies gas to industrial customers in the Toledo, OH area, has existing interconnects with ANR Pipeline Company and Panhandle Eastern Pipeline Company, and is located four miles from NEXUS. Total consideration paid for the acquired entity was approximately $163 million, of which DTE Energy's portion was 50%. DTE Energy accounts for its ownership interest in NEXUS under the equity method, which will now include equity in earnings related to Generation Pipeline, LLC.

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Leases (Finance Leases Reported on Consolidated Statements of Financial Position) (Details) $ in Millions	Sep. 30, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Right-of-use assets, within Property, plant, and equipment, net	$ 8
Current lease liabilities, within Current Liabilities — Other	3
DTE Electric
Lessee, Lease, Description [Line Items]
Right-of-use assets, within Property, plant, and equipment, net	8
Current lease liabilities, within Current Liabilities — Other	$ 3

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Financial and Other Derivative Instruments (Effect of Derivatives not Designated as Hedging Instruments on the Consolidated Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	$ (8)	$ (11)	$ 5	$ (85)
Natural gas | Operating Revenues — Non-utility operations
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	(5)	(29)	4	(51)
Natural gas | Fuel, purchased power, and gas — non-utility
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	(47)	(6)	(7)	(74)
Electricity | Operating Revenues — Non-utility operations
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	54	26	21	37
Other | Operating Revenues — Non-utility operations
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	(11)	0	(11)	1
Foreign currency exchange contracts | Operating Revenues — Non-utility operations
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	$ 1	$ (2)	$ (2)	$ 2

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Short-Term Credit Arrangements and Borrowings (Details Textuals)	Sep. 30, 2019 USD ($)	Aug. 31, 2019 USD ($)	Jul. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 2,560,000,000
Other outstanding letters of credit	915,000,000
Letter of credit
Short-term Debt [Line Items]
Other outstanding letters of credit	191,000,000
Unsecured letter of credit facility, expiring in August 2021 | Letter of credit
Short-term Debt [Line Items]
Maximum borrowing capacity	110,000,000
DTE Electric
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 500,000,000
Ratio of indebtedness to net capital	0.52
Other outstanding letters of credit	$ 382,000,000
DTE Electric | Letter of credit
Short-term Debt [Line Items]
Other outstanding letters of credit	0
DTE Electric | Unsecured letter of credit facility, expiring in August 2021 | Letter of credit
Short-term Debt [Line Items]
Maximum borrowing capacity	0
DTE Gas
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 300,000,000
Ratio of indebtedness to net capital	0.46
Other outstanding letters of credit	$ 232,000,000
DTE Gas | Letter of credit
Short-term Debt [Line Items]
Other outstanding letters of credit	0
DTE Gas | Unsecured letter of credit facility, expiring in August 2021 | Letter of credit
Short-term Debt [Line Items]
Maximum borrowing capacity	0
DTE Energy
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 1,760,000,000
Ratio of indebtedness to net capital	0.57
Other outstanding letters of credit	$ 301,000,000
DTE Energy | Letter of credit
Short-term Debt [Line Items]
Other outstanding letters of credit	191,000,000
DTE Energy | Demand financing agreement
Short-term Debt [Line Items]
Maximum borrowing capacity, financing agreement	100,000,000
Maximum additional margin financing	50,000,000
Amount outstanding	94,000,000			$ 93,000,000
DTE Energy | Demand financing agreement plus letter of credit
Short-term Debt [Line Items]
Maximum borrowing capacity, financing agreement	150,000,000
DTE Energy | Unsecured letter of credit facility, expiring in September 2019 | Letter of credit
Short-term Debt [Line Items]
Maximum borrowing capacity			$ 70,000,000
DTE Energy | Unsecured letter of credit facility, expiring in August 2021 | Letter of credit
Short-term Debt [Line Items]
Maximum borrowing capacity	110,000,000	$ 110,000,000
DTE Energy | Other outstanding letters of credit | Letter of credit
Short-term Debt [Line Items]
Other outstanding letters of credit	$ 9,000,000
Maximum
Short-term Debt [Line Items]
Ratio of indebtedness to net capital	0.65

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Leases (Property under Operating Leases - Topic 842) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Lessor, Lease, Description [Line Items]
Gross property under operating leases	$ 33,473	$ 31,810
Accumulated amortization of property under operating leases	9,715	$ 10,160
Property Under Operating Leases
Lessor, Lease, Description [Line Items]
Gross property under operating leases	444
Accumulated amortization of property under operating leases	$ 166

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Fair Value (Reconciliation of Level 3 Assets and Liabilities at Fair Value on a Recurring Basis) (Details) - Recurring - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net Assets (Liabilities) as of beginning of period	$ 9	$ (23)	$ (44)	$ (9)
Transfers into Level 3 from Level 2	0	0	0	0
Transfers from Level 3 into Level 2	0	0	0	(3)
Total gains (losses):
Included in earnings	2	(9)	42	(102)
Recorded in/Change in fair value recorded in Regulatory liabilities	(3)	(8)	3	6
Purchases, issuances, and settlements
Settlements	(36)	(10)	(29)	58
Net Assets (Liabilities) as of end of period	(28)	(50)	(28)	(50)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	(22)	(22)	6	(108)
DTE Electric
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net Assets (Liabilities) as of beginning of period	9	15	6	9
Total gains (losses):
Recorded in/Change in fair value recorded in Regulatory liabilities	(3)	(8)	3	6
Purchases, issuances, and settlements
Settlements	(1)	(1)	(4)	(9)
Net Assets (Liabilities) as of end of period	5	6	5	6
The amount of total gains (losses) included in Regulatory liabilities attributed to the change in unrealized gains (losses) related to assets held at September 30, 2019 and 2018 and reflected in DTE Electric's Consolidated Statements of Financial Position	(1)	(2)	5	6
Natural gas
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net Assets (Liabilities) as of beginning of period	(10)	(25)	(49)	(29)
Transfers into Level 3 from Level 2	0	0	0	0
Transfers from Level 3 into Level 2	0	0	0	(3)
Total gains (losses):
Included in earnings	(35)	(30)	(4)	(128)
Recorded in/Change in fair value recorded in Regulatory liabilities	0	0	0	0
Purchases, issuances, and settlements
Settlements	4	9	12	114
Net Assets (Liabilities) as of end of period	(41)	(46)	(41)	(46)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	(36)	(31)	(20)	(109)
Electricity
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net Assets (Liabilities) as of beginning of period	10	(13)	(2)	12
Transfers into Level 3 from Level 2	0	0	0	0
Transfers from Level 3 into Level 2	0	0	0	0
Total gains (losses):
Included in earnings	37	21	47	25
Recorded in/Change in fair value recorded in Regulatory liabilities	0	0	0	0
Purchases, issuances, and settlements
Settlements	(39)	(18)	(37)	(47)
Net Assets (Liabilities) as of end of period	8	(10)	8	(10)
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	15	10	32	4
Other
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Net Assets (Liabilities) as of beginning of period	9	15	7	8
Transfers into Level 3 from Level 2	0	0	0	0
Transfers from Level 3 into Level 2	0	0	0	0
Total gains (losses):
Included in earnings	0	0	(1)	1
Recorded in/Change in fair value recorded in Regulatory liabilities	(3)	(8)	3	6
Purchases, issuances, and settlements
Settlements	(1)	(1)	(4)	(9)
Net Assets (Liabilities) as of end of period	5	6	5	6
The amount of total gains (losses) included in Net Income attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2019 and 2018 and reflected in Operating Revenues — Non-utility operations and Fuel, purchased power, and gas — non-utility in DTE Energy's Consolidated Statements of Operations	$ (1)	$ (1)	$ (6)	$ (3)

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Regulatory Matters (Details Textuals) - USD ($) $ in Millions	Aug. 20, 2019	Jul. 08, 2019	May 02, 2019	Feb. 01, 2019	Dec. 06, 2018	Dec. 05, 2018	Nov. 16, 2018	Jul. 06, 2018
DTE Electric | MPSC | Electric Rate Case Filing 2018
Public Utilities, General Disclosures [Line Items]
Requested rate increase				$ 248.6				$ 328.0
Return on equity percent			10.00%					10.00%
Return on equity requested percent								10.50%
Approved rate increase			$ 125.0
DTE Electric | MPSC | Electric Rate Case Filing 2019
Public Utilities, General Disclosures [Line Items]
Requested rate increase		$ 351.0
Return on equity percent		10.00%
Return on equity requested percent		10.50%
DTE Electric | MPSC | 2016 DTE Electric Depreciation Case Filing
Public Utilities, General Disclosures [Line Items]
Approved composite depreciation rate increase					3.72%	3.06%
DTE Gas
Public Utilities, General Disclosures [Line Items]
Calculation C, reduction of annual revenue requirement, requested							$ 12.0
Calculation C, reduction of annual revenue requirement, approved	$ 13.0

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Revenue (Deferred Revenue) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($)
Contract Liability [Roll Forward]
Beginning Balance	$ 74
Increases due to cash received or receivable, excluding amounts recognized as revenue during the period	41
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(50)
Ending Balance	$ 65

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Segment and Related Information (Financial Data - Operating Revenues including Inter-segment Revenues) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Utility operations	$ 1,656	$ 1,669	$ 4,937	$ 4,923
Operating Revenues — Non-utility operations	1,463	1,881	4,584	5,539
Operating Revenues	3,119	3,550	9,521	10,462
Reconciliation and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Non-utility operations	(195)	(201)	(548)	(585)
Operating Revenues	(195)	(201)	(548)	(585)
Electric
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	1,520	1,521	3,945	4,002
Electric | Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Utility operations	1,520	1,521	3,945	4,002
Electric | Reconciliation and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	(16)	(13)	(43)	(39)
Gas
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	155	164	1,043	969
Gas | Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Utility operations	155	164	1,043	969
Gas | Reconciliation and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	(3)	(3)	(8)	(9)
Gas Storage and Pipelines
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	126	122	363	363
Gas Storage and Pipelines | Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Non-utility operations	126	122	363	363
Gas Storage and Pipelines | Reconciliation and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	(11)	(7)	(17)	(29)
Power and Industrial Projects
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	406	612	1,196	1,717
Power and Industrial Projects | Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Non-utility operations	406	612	1,196	1,717
Power and Industrial Projects | Reconciliation and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	(160)	(171)	(462)	(488)
Energy Trading
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	1,105	1,332	3,519	3,994
Energy Trading | Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Non-utility operations	1,105	1,332	3,519	3,994
Energy Trading | Reconciliation and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	(4)	(6)	(16)	(18)
Corporate and Other | Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues — Non-utility operations	2	0	3	2
Corporate and Other | Reconciliation and Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating Revenues	$ (1)	$ (1)	$ (2)	$ (2)

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Financial and Other Derivative Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 429	$ 663
Derivative Liabilities	(460)	(669)
Current derivative assets
Derivatives, Fair Value [Line Items]
Derivative Assets	346	563
Current derivative liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	(339)	(518)
Noncurrent derivative assets
Derivatives, Fair Value [Line Items]
Derivative Assets	83	100
Noncurrent derivative liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	(121)	(151)
Interest rate contracts
Derivatives, Fair Value [Line Items]
Derivative Liabilities	0	(3)
Natural gas
Derivatives, Fair Value [Line Items]
Derivative Assets	253	349
Derivative Liabilities	(297)	(380)
Electricity
Derivatives, Fair Value [Line Items]
Derivative Assets	164	303
Derivative Liabilities	(155)	(285)
Other
Derivatives, Fair Value [Line Items]
Derivative Assets	10	7
Derivative Liabilities	(8)	(1)
Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative Assets	2	4
Derivatives designated as hedging instruments | Interest rate contracts
Derivatives, Fair Value [Line Items]
Derivative Assets	0	0
Derivative Liabilities	0	(3)
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative Assets	429	663
Derivative Liabilities	(460)	(666)
Derivatives not designated as hedging instruments | DTE Electric
Derivatives, Fair Value [Line Items]
Derivative Assets	5	6
Derivatives not designated as hedging instruments | Natural gas
Derivatives, Fair Value [Line Items]
Derivative Assets	253	349
Derivative Liabilities	(297)	(380)
Derivatives not designated as hedging instruments | Electricity
Derivatives, Fair Value [Line Items]
Derivative Assets	164	303
Derivative Liabilities	(155)	(285)
Derivatives not designated as hedging instruments | Other
Derivatives, Fair Value [Line Items]
Derivative Assets	10	7
Derivative Liabilities	(8)	(1)
Derivatives not designated as hedging instruments | Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative Assets	2	4
Derivative Liabilities	0	0
Derivatives not designated as hedging instruments | FTRs — Other current assets | DTE Electric
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 5	$ 6

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Fair Value (Gains and Losses and Proceeds from the Sale of Securities by the Nuclear Decommissioning Trust Funds) (Details) - DTE Electric - Nuclear decommissioning trust fund - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt Securities, Available-for-sale [Line Items]
Realized gains	$ 15	$ 10	$ 43	$ 52
Realized losses	(8)	(7)	(25)	(22)
Proceeds from sale of securities	$ 198	$ 194	$ 594	$ 810

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Retirement Benefits and Trusteed Assets (Details Textuals) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Cash contributions made by employer				$ 50,000,000
Additional contributions anticipated, remainder of fiscal year		$ 0		0
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Additional contributions anticipated, remainder of fiscal year		0		0
DTE Electric | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension cost	$ 100,000,000	$ 23,000,000	$ 30,000,000	$ 68,000,000	$ 90,000,000

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Organization and Basis of Presentation (Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions	5 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 76	$ 76	$ 71
Restricted cash	0	0	5
Accounts receivable	1,453	1,453	1,789
Property, plant, and equipment, net	23,758	23,758	21,650
Goodwill	2,293	2,293	2,293
Intangible assets	919	919	828
Total Assets	38,345	38,345	36,288
Variable interest entity, primary beneficiary, restricted
ASSETS
Cash and cash equivalents	32	32	39
Restricted cash	0	0	5
Accounts receivable	37	37	46
Inventories	97	97	93
Property, plant, and equipment, net	442	442	441
Goodwill	25	25	25
Intangible assets	546	546	557
Other current and long-term assets	1	1	3
Total Assets	1,180	1,180	1,209
LIABILITIES
Accounts payable and accrued current liabilities	23	23	34
Other current and long-term liabilities	13	13	19
Total liabilities	36	36	53
SGG
ASSETS
Cash and cash equivalents	20	20	25
Restricted cash	0	0	0
Accounts receivable	10	10	9
Inventories	0	0	1
Property, plant, and equipment, net	406	406	395
Goodwill	25	25	25
Intangible assets	546	546	557
Other current and long-term assets	1	1	3
Total Assets	1,008	1,008	1,015
LIABILITIES
Accounts payable and accrued current liabilities	5	5	3
Other current and long-term liabilities	6	6	9
Total liabilities	$ 11	$ 11	$ 12
VIE ownership and non-ownership percentage		100.00%
VIE ownership percentage	85.00%		55.00%
Other
ASSETS
Cash and cash equivalents	$ 12	$ 12	$ 14
Restricted cash	0	0	5
Accounts receivable	27	27	37
Inventories	97	97	92
Property, plant, and equipment, net	36	36	46
Goodwill	0	0	0
Intangible assets	0	0	0
Other current and long-term assets	0	0	0
Total Assets	172	172	194
LIABILITIES
Accounts payable and accrued current liabilities	18	18	31
Other current and long-term liabilities	7	7	10
Total liabilities	$ 25	$ 25	$ 41

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Significant Accounting Policies (Income Taxes) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule of Income Taxes [Line Items]
Effective Tax Rate	13.00%	9.00%	12.00%	12.00%
DTE Electric
Schedule of Income Taxes [Line Items]
Effective Tax Rate	16.00%	21.00%	16.00%	22.00%

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Acquisitions (Details Textuals) $ in Millions			1 Months Ended	9 Months Ended
	Sep. 20, 2019 USD ($)	Sep. 12, 2019 USD ($) MW	Jan. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)
Business Acquisition [Line Items]
Consideration paid for entity acquired, paid in cash				$ 174	$ 0
Electric | Heritage Sustainable Energy, Renewable Energy Project
Business Acquisition [Line Items]
Amount of power associated with purchase of renewable energy project | MW		89
Consideration paid for entity acquired, paid in cash		$ 174
Electric | Heritage Sustainable Energy, Renewable Energy Project | Minimum
Business Acquisition [Line Items]
Customer relationship intangible assets, amortization period		11 years
Electric | Heritage Sustainable Energy, Renewable Energy Project | Maximum
Business Acquisition [Line Items]
Customer relationship intangible assets, amortization period		14 years
Electric | Heritage Sustainable Energy, Additional Renewable Energy Project | Forecast
Business Acquisition [Line Items]
Total consideration paid for acquired entity			$ 30
Gas Storage and Pipelines | Generation Pipeline, LLC
Business Acquisition [Line Items]
Portion of consideration paid attributable to DTE Energy	50.00%
Gas Storage and Pipelines | Generation Pipeline, LLC | NEXUS
Business Acquisition [Line Items]
Total consideration paid for acquired entity	$ 163

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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Schedule of Final Purchase Price Allocation

The acquisition was accounted for using the acquisition method of accounting for business combinations. Accordingly, the cost was allocated to the underlying net assets based on their respective fair values as shown below:

	(In millions)
Contract intangibles	$	111
Property, plant, and equipment, net	59
Working capital	4
Total	$	174

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Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENT

During October 2019, DTE Energy entered into an agreement with Momentum Midstream and Indigo Natural Resources to purchase midstream natural gas assets in support of its strategy to continue to grow and earn competitive returns for shareholders. The agreement calls for DTE Energy to acquire 100 percent of M5 Louisiana Gathering, LLC and its wholly owned subsidiaries which provide natural gas gathering and other midstream services to producers, primarily in Louisiana. The acquisition has an estimated purchase price of $2.65 billion and is expected to close in December 2019, subject to customary closing conditions. The purchase price includes $2.25 billion to be paid in cash upon closing, plus an estimated $400 million milestone payment upon completion of a gathering pipeline in the second half of 2020. These assets will be a part of DTE Energy’s non-utility Gas Storage and Pipelines business. The acquisition will be financed through the issuance of Equity Units, common stock, and Senior Notes.

Upon closing, DTE Energy will obtain control over and apply acquisition accounting to the acquired entities, including disclosure of amounts recognized for the major classes of assets and liabilities acquired. DTE Energy will include all required information within the combined DTE Energy and DTE Electric Annual Report on Form 10-K for the year ending December 31, 2019.

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Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

LEASES

Disclosures related to the nine months ended September 30, 2019 are presented as required under Topic 842. Prior period disclosures for the year ended December 31, 2018 are presented under Topic 840. The Registrants have elected to use a practical expedient provided by Topic 842 whereby comparative disclosures for prior periods are allowed to be presented under Topic 840. Prior period disclosures under Topic 840 have been provided on an annual basis. As a result, the disclosures presented under Topic 842 and Topic 840 will not be fully comparable in specific disclosure requirements or time period.

Lessee

Topic 842 — Leases at DTE Energy are primarily comprised of various forms of equipment, computer hardware, coal railcars, production facilities, buildings, and certain easement leases with terms ranging from approximately 2 to 40 years. Leases at DTE Electric are primarily comprised of various forms of equipment, computer hardware, coal railcars, and certain easement leases with terms ranging from approximately 2 to 40 years.

A lease is deemed to exist when the Registrants have the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration paid. The right to control is deemed to occur when the Registrants have the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

Lease liabilities are determined utilizing a discount rate to determine the present values of lease payments. Topic 842 requires the use of the rate implicit in the lease when it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The Registrants have determined their respective incremental borrowing rates based upon the rate of interest that would have been paid on a collateralized basis over similar tenors to that of the leases. The incremental borrowing rates for DTE Electric and DTE Gas have been determined utilizing respective secured borrowing rates for first mortgage bonds with like tenors of remaining lease terms. Incremental borrowing rates for non-utility entities have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar tenor of remaining lease terms, which is then adjusted for the estimated impact of collateral.

Certain leases of the Registrants contain escalation clauses whereby the payments are adjusted for consumer price or labor indices. DTE Energy has leases with non-index based escalation clauses for fixed dollar or percentage increases. DTE Electric has leases with non-index based escalation clauses for fixed dollar increases. DTE Energy also has leases with variable payments based upon usage of, or revenues associated with, the leased assets. DTE Electric also has leases with variable payments based upon the usage of the leased assets.

Certain leases of easements and coal railcars contain provisions whereby the Registrants have the option to terminate the lease agreement by giving notice of such termination during the time frames specified in the respective lease. The Registrants have considered such provisions in the determination of the lease term when it is reasonably certain that the lease would be terminated.

The Registrants have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, the Registrants have determined it is not reasonably certain that such purchase options will be utilized. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases.

The Registrants have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right of use assets and lease liabilities.

The Registrants have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices. The Registrants have certain coal railcar leases for which non-lease and lease components are accounted for as a single lease component, as permitted under Topic 842.

The components of lease cost for DTE Energy were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	10	$	31
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	2		8
Short-term lease cost	2		7
	$	14	$	49

The components of lease cost for DTE Electric were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	5	$	13
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	—		—
Short-term lease cost	1		2
	$	6	$	18

The Registrants have elected not to apply the recognition requirements of Topic 842 to leases with a term of 12 months or less. DTE Energy and DTE Electric record operating, variable, and short-term lease costs as Operating Expenses on the Consolidated Statements of Operations, except for certain amounts that may be capitalized to other assets.

Other information related to leases were as follows:

	DTE Energy		DTE Electric
	Nine Months Ended September 30, 2019
	(In millions)
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$	4	$	4
Operating cash flows from operating leases	$	30	$	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	37	$	2
Weighted Average Remaining Lease Term
Operating leases	9.7 years		10.6 years
Finance leases	2.3 years		2.3 years
Weighted Average Discount Rate
Operating leases	3.7%		3.7%
Finance leases	3.1%		3.1%

The Registrants' future minimum lease payments under leases for remaining periods as of September 30, 2019 were as follows:

	DTE Energy					DTE Electric
	Operating Leases			Finance Leases		Operating Leases			Finance Leases
	(In millions)
2019	$	10		$	1	$	4		$	1
2020	35			4		13			4
2021	26			3		11			3
2022	19			—		7			—
2023	16			—		6			—
2024 and thereafter	62			—		30			—
Total future minimum lease payments	168			8		71			8
Imputed interest	(30		)	—		(13		)	—
	$	138		$	8	$	58		$	8

Finance leases reported on the Consolidated Statement of Financial Position were as follows:

	DTE Energy		DTE Electric
	September 30, 2019
	(In millions)
Right-of-use assets, within Property, plant, and equipment, net	$	8	$	8
Current lease liabilities, within Current Liabilities — Other	$	3	$	3

Topic 840 — The following disclosures are presented under Topic 840 for the year ended December 31, 2018.

The Registrants lease various assets under operating leases, including coal railcars, office buildings, a warehouse, computers, vehicles, and other equipment. The lease arrangements expire at various dates through 2051 and 2046 for DTE Energy and DTE Electric, respectively.

The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2018 were as follows:

	DTE Energy		DTE Electric
	(In millions)
2019	$	42	$	17
2020	30		12
2021	18		10
2022	11		7
2023	8		5
2024 and thereafter	45		29
	$	154	$	80

Lessor

Topic 842 — DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a 20-year finance lease contract that expires in 2020, with renewal options extending for five years each. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has an energy services agreement that expires in 2026, of which a portion is accounted for as a finance lease.

DTE Energy also leases various assets under operating leases for a pipeline, energy facilities and related equipment. Such leases are comprised of both fixed payments and variable payments which are contingent on volumes, with terms ranging from 3 to 24 years. Generally, the operating leases do not have renewal provisions or options to purchase the assets at the end of the lease. The operating leases generally do not have termination for convenience provisions. Termination may be allowed under specific circumstances stated in the lease contract, such as under an event of default.

Certain of the finance and operating leases have lease terms that extend to the end of the estimated economic life of the leased assets, thereby resulting in no residual value. Any remaining residual values under the finance and operating leases are expected to be recovered through rates, renewals or new lease contracts. Residual values have been determined using the estimated economic life of the leased assets. The finance and operating leases do not contain residual value guarantees.

Certain of the operating leases have both lease and non-lease components. The lease and non-lease components are allocated based upon estimated relative standalone selling prices.

A lease is deemed to exist when the Registrants have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration received. The right to control is deemed to occur when the Registrants have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

DTE Energy’s lease income associated with operating leases was as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Fixed payments	$	17	$	51
Variable payments	40		92
	$	57	$	143

DTE Energy’s minimum future rental revenues under operating leases for remaining periods as of September 30, 2019 were:

	DTE Energy
	(In millions)
2019	$	16
2020	66
2021	64
2022	22
2023	22
2024 and thereafter	216
	$	406

Depreciation expense associated with DTE Energy's property under operating leases was $7 million and $20 million for the three and nine months ended September 30, 2019, respectively.

Property under operating leases for DTE Energy was as follows:

	DTE Energy
	September 30, 2019
	(In millions)
Gross property under operating leases	$	444
Accumulated amortization of property under operating leases	$	166

The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:

	DTE Energy
	September 30, 2019
	(In millions)
2019	$	3
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	13
Residual value of leased pipeline	40
Less unearned income	6
Net investment in finance lease	47
Less current portion	5
	$	42

Interest income recognized under finance leases was $2 million and $4 million for the three and nine months ended September 30, 2019, respectively.

Topic 840 — DTE Energy leases various assets under operating leases for energy facilities and related equipment.

DTE Energy’s minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were:

	DTE Energy
	(In millions)
2019	$	66
2020	66
2021	64
2022	20
2023	20
2024 and thereafter	196
	$	432

The amounts listed above do not include contingent rentals associated with the leased assets. DTE Energy had contingent rental revenues of $107 million, $91 million, and $101 million in 2018, 2017, and 2016, respectively.

DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a capital lease contract that expires in 2020, with renewal options extending for five years. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has two energy services agreements, for which a portion of are accounted for as capital leases. These agreements expire in 2019 and 2026.

The components of DTE Energy’s net investment in capital leases at December 31, 2018 were as follows:

	DTE Energy
	(In millions)
2019	$	10
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	20
Residual value of leased pipeline	40
Less unearned income	9
Net investment in capital lease	51
Less current portion	5
	$	46

Property under operating leases for DTE Energy as of December 31, 2018 were as follows:

	DTE Energy
	(In millions)
Gross property under operating leases	$	447
Accumulated amortization of property under operating leases	$	148

Leases

LEASES

Disclosures related to the nine months ended September 30, 2019 are presented as required under Topic 842. Prior period disclosures for the year ended December 31, 2018 are presented under Topic 840. The Registrants have elected to use a practical expedient provided by Topic 842 whereby comparative disclosures for prior periods are allowed to be presented under Topic 840. Prior period disclosures under Topic 840 have been provided on an annual basis. As a result, the disclosures presented under Topic 842 and Topic 840 will not be fully comparable in specific disclosure requirements or time period.

Lessee

Topic 842 — Leases at DTE Energy are primarily comprised of various forms of equipment, computer hardware, coal railcars, production facilities, buildings, and certain easement leases with terms ranging from approximately 2 to 40 years. Leases at DTE Electric are primarily comprised of various forms of equipment, computer hardware, coal railcars, and certain easement leases with terms ranging from approximately 2 to 40 years.

A lease is deemed to exist when the Registrants have the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration paid. The right to control is deemed to occur when the Registrants have the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

Lease liabilities are determined utilizing a discount rate to determine the present values of lease payments. Topic 842 requires the use of the rate implicit in the lease when it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The Registrants have determined their respective incremental borrowing rates based upon the rate of interest that would have been paid on a collateralized basis over similar tenors to that of the leases. The incremental borrowing rates for DTE Electric and DTE Gas have been determined utilizing respective secured borrowing rates for first mortgage bonds with like tenors of remaining lease terms. Incremental borrowing rates for non-utility entities have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar tenor of remaining lease terms, which is then adjusted for the estimated impact of collateral.

Certain leases of the Registrants contain escalation clauses whereby the payments are adjusted for consumer price or labor indices. DTE Energy has leases with non-index based escalation clauses for fixed dollar or percentage increases. DTE Electric has leases with non-index based escalation clauses for fixed dollar increases. DTE Energy also has leases with variable payments based upon usage of, or revenues associated with, the leased assets. DTE Electric also has leases with variable payments based upon the usage of the leased assets.

Certain leases of easements and coal railcars contain provisions whereby the Registrants have the option to terminate the lease agreement by giving notice of such termination during the time frames specified in the respective lease. The Registrants have considered such provisions in the determination of the lease term when it is reasonably certain that the lease would be terminated.

The Registrants have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, the Registrants have determined it is not reasonably certain that such purchase options will be utilized. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases.

The Registrants have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right of use assets and lease liabilities.

The Registrants have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices. The Registrants have certain coal railcar leases for which non-lease and lease components are accounted for as a single lease component, as permitted under Topic 842.

The components of lease cost for DTE Energy were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	10	$	31
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	2		8
Short-term lease cost	2		7
	$	14	$	49

The components of lease cost for DTE Electric were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	5	$	13
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	—		—
Short-term lease cost	1		2
	$	6	$	18

The Registrants have elected not to apply the recognition requirements of Topic 842 to leases with a term of 12 months or less. DTE Energy and DTE Electric record operating, variable, and short-term lease costs as Operating Expenses on the Consolidated Statements of Operations, except for certain amounts that may be capitalized to other assets.

Other information related to leases were as follows:

	DTE Energy		DTE Electric
	Nine Months Ended September 30, 2019
	(In millions)
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$	4	$	4
Operating cash flows from operating leases	$	30	$	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	37	$	2
Weighted Average Remaining Lease Term
Operating leases	9.7 years		10.6 years
Finance leases	2.3 years		2.3 years
Weighted Average Discount Rate
Operating leases	3.7%		3.7%
Finance leases	3.1%		3.1%

The Registrants' future minimum lease payments under leases for remaining periods as of September 30, 2019 were as follows:

	DTE Energy					DTE Electric
	Operating Leases			Finance Leases		Operating Leases			Finance Leases
	(In millions)
2019	$	10		$	1	$	4		$	1
2020	35			4		13			4
2021	26			3		11			3
2022	19			—		7			—
2023	16			—		6			—
2024 and thereafter	62			—		30			—
Total future minimum lease payments	168			8		71			8
Imputed interest	(30		)	—		(13		)	—
	$	138		$	8	$	58		$	8

Finance leases reported on the Consolidated Statement of Financial Position were as follows:

	DTE Energy		DTE Electric
	September 30, 2019
	(In millions)
Right-of-use assets, within Property, plant, and equipment, net	$	8	$	8
Current lease liabilities, within Current Liabilities — Other	$	3	$	3

Topic 840 — The following disclosures are presented under Topic 840 for the year ended December 31, 2018.

The Registrants lease various assets under operating leases, including coal railcars, office buildings, a warehouse, computers, vehicles, and other equipment. The lease arrangements expire at various dates through 2051 and 2046 for DTE Energy and DTE Electric, respectively.

The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2018 were as follows:

	DTE Energy		DTE Electric
	(In millions)
2019	$	42	$	17
2020	30		12
2021	18		10
2022	11		7
2023	8		5
2024 and thereafter	45		29
	$	154	$	80

Lessor

Topic 842 — DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a 20-year finance lease contract that expires in 2020, with renewal options extending for five years each. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has an energy services agreement that expires in 2026, of which a portion is accounted for as a finance lease.

DTE Energy also leases various assets under operating leases for a pipeline, energy facilities and related equipment. Such leases are comprised of both fixed payments and variable payments which are contingent on volumes, with terms ranging from 3 to 24 years. Generally, the operating leases do not have renewal provisions or options to purchase the assets at the end of the lease. The operating leases generally do not have termination for convenience provisions. Termination may be allowed under specific circumstances stated in the lease contract, such as under an event of default.

Certain of the finance and operating leases have lease terms that extend to the end of the estimated economic life of the leased assets, thereby resulting in no residual value. Any remaining residual values under the finance and operating leases are expected to be recovered through rates, renewals or new lease contracts. Residual values have been determined using the estimated economic life of the leased assets. The finance and operating leases do not contain residual value guarantees.

Certain of the operating leases have both lease and non-lease components. The lease and non-lease components are allocated based upon estimated relative standalone selling prices.

A lease is deemed to exist when the Registrants have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration received. The right to control is deemed to occur when the Registrants have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

DTE Energy’s lease income associated with operating leases was as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Fixed payments	$	17	$	51
Variable payments	40		92
	$	57	$	143

DTE Energy’s minimum future rental revenues under operating leases for remaining periods as of September 30, 2019 were:

	DTE Energy
	(In millions)
2019	$	16
2020	66
2021	64
2022	22
2023	22
2024 and thereafter	216
	$	406

Depreciation expense associated with DTE Energy's property under operating leases was $7 million and $20 million for the three and nine months ended September 30, 2019, respectively.

Property under operating leases for DTE Energy was as follows:

	DTE Energy
	September 30, 2019
	(In millions)
Gross property under operating leases	$	444
Accumulated amortization of property under operating leases	$	166

The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:

	DTE Energy
	September 30, 2019
	(In millions)
2019	$	3
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	13
Residual value of leased pipeline	40
Less unearned income	6
Net investment in finance lease	47
Less current portion	5
	$	42

Interest income recognized under finance leases was $2 million and $4 million for the three and nine months ended September 30, 2019, respectively.

Topic 840 — DTE Energy leases various assets under operating leases for energy facilities and related equipment.

DTE Energy’s minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were:

	DTE Energy
	(In millions)
2019	$	66
2020	66
2021	64
2022	20
2023	20
2024 and thereafter	196
	$	432

The amounts listed above do not include contingent rentals associated with the leased assets. DTE Energy had contingent rental revenues of $107 million, $91 million, and $101 million in 2018, 2017, and 2016, respectively.

DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a capital lease contract that expires in 2020, with renewal options extending for five years. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has two energy services agreements, for which a portion of are accounted for as capital leases. These agreements expire in 2019 and 2026.

The components of DTE Energy’s net investment in capital leases at December 31, 2018 were as follows:

	DTE Energy
	(In millions)
2019	$	10
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	20
Residual value of leased pipeline	40
Less unearned income	9
Net investment in capital lease	51
Less current portion	5
	$	46

Property under operating leases for DTE Energy as of December 31, 2018 were as follows:

	DTE Energy
	(In millions)
Gross property under operating leases	$	447
Accumulated amortization of property under operating leases	$	148

Leases

LEASES

Disclosures related to the nine months ended September 30, 2019 are presented as required under Topic 842. Prior period disclosures for the year ended December 31, 2018 are presented under Topic 840. The Registrants have elected to use a practical expedient provided by Topic 842 whereby comparative disclosures for prior periods are allowed to be presented under Topic 840. Prior period disclosures under Topic 840 have been provided on an annual basis. As a result, the disclosures presented under Topic 842 and Topic 840 will not be fully comparable in specific disclosure requirements or time period.

Lessee

Topic 842 — Leases at DTE Energy are primarily comprised of various forms of equipment, computer hardware, coal railcars, production facilities, buildings, and certain easement leases with terms ranging from approximately 2 to 40 years. Leases at DTE Electric are primarily comprised of various forms of equipment, computer hardware, coal railcars, and certain easement leases with terms ranging from approximately 2 to 40 years.

A lease is deemed to exist when the Registrants have the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration paid. The right to control is deemed to occur when the Registrants have the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

Lease liabilities are determined utilizing a discount rate to determine the present values of lease payments. Topic 842 requires the use of the rate implicit in the lease when it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The Registrants have determined their respective incremental borrowing rates based upon the rate of interest that would have been paid on a collateralized basis over similar tenors to that of the leases. The incremental borrowing rates for DTE Electric and DTE Gas have been determined utilizing respective secured borrowing rates for first mortgage bonds with like tenors of remaining lease terms. Incremental borrowing rates for non-utility entities have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar tenor of remaining lease terms, which is then adjusted for the estimated impact of collateral.

Certain leases of the Registrants contain escalation clauses whereby the payments are adjusted for consumer price or labor indices. DTE Energy has leases with non-index based escalation clauses for fixed dollar or percentage increases. DTE Electric has leases with non-index based escalation clauses for fixed dollar increases. DTE Energy also has leases with variable payments based upon usage of, or revenues associated with, the leased assets. DTE Electric also has leases with variable payments based upon the usage of the leased assets.

Certain leases of easements and coal railcars contain provisions whereby the Registrants have the option to terminate the lease agreement by giving notice of such termination during the time frames specified in the respective lease. The Registrants have considered such provisions in the determination of the lease term when it is reasonably certain that the lease would be terminated.

The Registrants have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, the Registrants have determined it is not reasonably certain that such purchase options will be utilized. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases.

The Registrants have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right of use assets and lease liabilities.

The Registrants have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices. The Registrants have certain coal railcar leases for which non-lease and lease components are accounted for as a single lease component, as permitted under Topic 842.

The components of lease cost for DTE Energy were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	10	$	31
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	2		8
Short-term lease cost	2		7
	$	14	$	49

The components of lease cost for DTE Electric were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	5	$	13
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	—		—
Short-term lease cost	1		2
	$	6	$	18

The Registrants have elected not to apply the recognition requirements of Topic 842 to leases with a term of 12 months or less. DTE Energy and DTE Electric record operating, variable, and short-term lease costs as Operating Expenses on the Consolidated Statements of Operations, except for certain amounts that may be capitalized to other assets.

Other information related to leases were as follows:

	DTE Energy		DTE Electric
	Nine Months Ended September 30, 2019
	(In millions)
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$	4	$	4
Operating cash flows from operating leases	$	30	$	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	37	$	2
Weighted Average Remaining Lease Term
Operating leases	9.7 years		10.6 years
Finance leases	2.3 years		2.3 years
Weighted Average Discount Rate
Operating leases	3.7%		3.7%
Finance leases	3.1%		3.1%

The Registrants' future minimum lease payments under leases for remaining periods as of September 30, 2019 were as follows:

	DTE Energy					DTE Electric
	Operating Leases			Finance Leases		Operating Leases			Finance Leases
	(In millions)
2019	$	10		$	1	$	4		$	1
2020	35			4		13			4
2021	26			3		11			3
2022	19			—		7			—
2023	16			—		6			—
2024 and thereafter	62			—		30			—
Total future minimum lease payments	168			8		71			8
Imputed interest	(30		)	—		(13		)	—
	$	138		$	8	$	58		$	8

Finance leases reported on the Consolidated Statement of Financial Position were as follows:

	DTE Energy		DTE Electric
	September 30, 2019
	(In millions)
Right-of-use assets, within Property, plant, and equipment, net	$	8	$	8
Current lease liabilities, within Current Liabilities — Other	$	3	$	3

Topic 840 — The following disclosures are presented under Topic 840 for the year ended December 31, 2018.

The Registrants lease various assets under operating leases, including coal railcars, office buildings, a warehouse, computers, vehicles, and other equipment. The lease arrangements expire at various dates through 2051 and 2046 for DTE Energy and DTE Electric, respectively.

The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2018 were as follows:

	DTE Energy		DTE Electric
	(In millions)
2019	$	42	$	17
2020	30		12
2021	18		10
2022	11		7
2023	8		5
2024 and thereafter	45		29
	$	154	$	80

Lessor

Topic 842 — DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a 20-year finance lease contract that expires in 2020, with renewal options extending for five years each. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has an energy services agreement that expires in 2026, of which a portion is accounted for as a finance lease.

DTE Energy also leases various assets under operating leases for a pipeline, energy facilities and related equipment. Such leases are comprised of both fixed payments and variable payments which are contingent on volumes, with terms ranging from 3 to 24 years. Generally, the operating leases do not have renewal provisions or options to purchase the assets at the end of the lease. The operating leases generally do not have termination for convenience provisions. Termination may be allowed under specific circumstances stated in the lease contract, such as under an event of default.

Certain of the finance and operating leases have lease terms that extend to the end of the estimated economic life of the leased assets, thereby resulting in no residual value. Any remaining residual values under the finance and operating leases are expected to be recovered through rates, renewals or new lease contracts. Residual values have been determined using the estimated economic life of the leased assets. The finance and operating leases do not contain residual value guarantees.

Certain of the operating leases have both lease and non-lease components. The lease and non-lease components are allocated based upon estimated relative standalone selling prices.

A lease is deemed to exist when the Registrants have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration received. The right to control is deemed to occur when the Registrants have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

DTE Energy’s lease income associated with operating leases was as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Fixed payments	$	17	$	51
Variable payments	40		92
	$	57	$	143

DTE Energy’s minimum future rental revenues under operating leases for remaining periods as of September 30, 2019 were:

	DTE Energy
	(In millions)
2019	$	16
2020	66
2021	64
2022	22
2023	22
2024 and thereafter	216
	$	406

Depreciation expense associated with DTE Energy's property under operating leases was $7 million and $20 million for the three and nine months ended September 30, 2019, respectively.

Property under operating leases for DTE Energy was as follows:

	DTE Energy
	September 30, 2019
	(In millions)
Gross property under operating leases	$	444
Accumulated amortization of property under operating leases	$	166

The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:

	DTE Energy
	September 30, 2019
	(In millions)
2019	$	3
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	13
Residual value of leased pipeline	40
Less unearned income	6
Net investment in finance lease	47
Less current portion	5
	$	42

Interest income recognized under finance leases was $2 million and $4 million for the three and nine months ended September 30, 2019, respectively.

Topic 840 — DTE Energy leases various assets under operating leases for energy facilities and related equipment.

DTE Energy’s minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were:

	DTE Energy
	(In millions)
2019	$	66
2020	66
2021	64
2022	20
2023	20
2024 and thereafter	196
	$	432

The amounts listed above do not include contingent rentals associated with the leased assets. DTE Energy had contingent rental revenues of $107 million, $91 million, and $101 million in 2018, 2017, and 2016, respectively.

DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a capital lease contract that expires in 2020, with renewal options extending for five years. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has two energy services agreements, for which a portion of are accounted for as capital leases. These agreements expire in 2019 and 2026.

The components of DTE Energy’s net investment in capital leases at December 31, 2018 were as follows:

	DTE Energy
	(In millions)
2019	$	10
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	20
Residual value of leased pipeline	40
Less unearned income	9
Net investment in capital lease	51
Less current portion	5
	$	46

Property under operating leases for DTE Energy as of December 31, 2018 were as follows:

	DTE Energy
	(In millions)
Gross property under operating leases	$	447
Accumulated amortization of property under operating leases	$	148

Leases

LEASES

Disclosures related to the nine months ended September 30, 2019 are presented as required under Topic 842. Prior period disclosures for the year ended December 31, 2018 are presented under Topic 840. The Registrants have elected to use a practical expedient provided by Topic 842 whereby comparative disclosures for prior periods are allowed to be presented under Topic 840. Prior period disclosures under Topic 840 have been provided on an annual basis. As a result, the disclosures presented under Topic 842 and Topic 840 will not be fully comparable in specific disclosure requirements or time period.

Lessee

Topic 842 — Leases at DTE Energy are primarily comprised of various forms of equipment, computer hardware, coal railcars, production facilities, buildings, and certain easement leases with terms ranging from approximately 2 to 40 years. Leases at DTE Electric are primarily comprised of various forms of equipment, computer hardware, coal railcars, and certain easement leases with terms ranging from approximately 2 to 40 years.

A lease is deemed to exist when the Registrants have the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration paid. The right to control is deemed to occur when the Registrants have the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

Lease liabilities are determined utilizing a discount rate to determine the present values of lease payments. Topic 842 requires the use of the rate implicit in the lease when it is readily determinable. When the rate implicit in the lease is not readily determinable, the incremental borrowing rate is used. The Registrants have determined their respective incremental borrowing rates based upon the rate of interest that would have been paid on a collateralized basis over similar tenors to that of the leases. The incremental borrowing rates for DTE Electric and DTE Gas have been determined utilizing respective secured borrowing rates for first mortgage bonds with like tenors of remaining lease terms. Incremental borrowing rates for non-utility entities have been determined utilizing an implied secured borrowing rate based upon an unsecured rate for a similar tenor of remaining lease terms, which is then adjusted for the estimated impact of collateral.

Certain leases of the Registrants contain escalation clauses whereby the payments are adjusted for consumer price or labor indices. DTE Energy has leases with non-index based escalation clauses for fixed dollar or percentage increases. DTE Electric has leases with non-index based escalation clauses for fixed dollar increases. DTE Energy also has leases with variable payments based upon usage of, or revenues associated with, the leased assets. DTE Electric also has leases with variable payments based upon the usage of the leased assets.

Certain leases of easements and coal railcars contain provisions whereby the Registrants have the option to terminate the lease agreement by giving notice of such termination during the time frames specified in the respective lease. The Registrants have considered such provisions in the determination of the lease term when it is reasonably certain that the lease would be terminated.

The Registrants have certain leases which contain purchase options. Based upon the nature of the leased property and terms of the purchase options, the Registrants have determined it is not reasonably certain that such purchase options will be utilized. Thus, the impact of the purchase options has not been included in the determination of right-of-use assets and lease liabilities for the subject leases.

The Registrants have certain leases which contain renewal options. Where the renewal options were deemed reasonably certain to occur, the impacts of such options were included in the determination of the right of use assets and lease liabilities.

The Registrants have agreements with lease and non-lease components, which are generally accounted for separately. Consideration in a lease is allocated between lease and non-lease components based upon the estimated relative standalone prices. The Registrants have certain coal railcar leases for which non-lease and lease components are accounted for as a single lease component, as permitted under Topic 842.

The components of lease cost for DTE Energy were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	10	$	31
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	2		8
Short-term lease cost	2		7
	$	14	$	49

The components of lease cost for DTE Electric were as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Operating lease cost	$	5	$	13
Finance lease cost:
Amortization of right-of-use assets	—		3
Interest of lease liabilities	—		—
Total finance lease cost	—		3
Variable lease cost	—		—
Short-term lease cost	1		2
	$	6	$	18

The Registrants have elected not to apply the recognition requirements of Topic 842 to leases with a term of 12 months or less. DTE Energy and DTE Electric record operating, variable, and short-term lease costs as Operating Expenses on the Consolidated Statements of Operations, except for certain amounts that may be capitalized to other assets.

Other information related to leases were as follows:

	DTE Energy		DTE Electric
	Nine Months Ended September 30, 2019
	(In millions)
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of these liabilities:
Operating cash flows from finance leases	$	4	$	4
Operating cash flows from operating leases	$	30	$	11
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	37	$	2
Weighted Average Remaining Lease Term
Operating leases	9.7 years		10.6 years
Finance leases	2.3 years		2.3 years
Weighted Average Discount Rate
Operating leases	3.7%		3.7%
Finance leases	3.1%		3.1%

The Registrants' future minimum lease payments under leases for remaining periods as of September 30, 2019 were as follows:

	DTE Energy					DTE Electric
	Operating Leases			Finance Leases		Operating Leases			Finance Leases
	(In millions)
2019	$	10		$	1	$	4		$	1
2020	35			4		13			4
2021	26			3		11			3
2022	19			—		7			—
2023	16			—		6			—
2024 and thereafter	62			—		30			—
Total future minimum lease payments	168			8		71			8
Imputed interest	(30		)	—		(13		)	—
	$	138		$	8	$	58		$	8

Finance leases reported on the Consolidated Statement of Financial Position were as follows:

	DTE Energy		DTE Electric
	September 30, 2019
	(In millions)
Right-of-use assets, within Property, plant, and equipment, net	$	8	$	8
Current lease liabilities, within Current Liabilities — Other	$	3	$	3

Topic 840 — The following disclosures are presented under Topic 840 for the year ended December 31, 2018.

The Registrants lease various assets under operating leases, including coal railcars, office buildings, a warehouse, computers, vehicles, and other equipment. The lease arrangements expire at various dates through 2051 and 2046 for DTE Energy and DTE Electric, respectively.

The Registrants' future minimum lease payments under non-cancelable operating leases at December 31, 2018 were as follows:

	DTE Energy		DTE Electric
	(In millions)
2019	$	42	$	17
2020	30		12
2021	18		10
2022	11		7
2023	8		5
2024 and thereafter	45		29
	$	154	$	80

Lessor

Topic 842 — DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a 20-year finance lease contract that expires in 2020, with renewal options extending for five years each. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has an energy services agreement that expires in 2026, of which a portion is accounted for as a finance lease.

DTE Energy also leases various assets under operating leases for a pipeline, energy facilities and related equipment. Such leases are comprised of both fixed payments and variable payments which are contingent on volumes, with terms ranging from 3 to 24 years. Generally, the operating leases do not have renewal provisions or options to purchase the assets at the end of the lease. The operating leases generally do not have termination for convenience provisions. Termination may be allowed under specific circumstances stated in the lease contract, such as under an event of default.

Certain of the finance and operating leases have lease terms that extend to the end of the estimated economic life of the leased assets, thereby resulting in no residual value. Any remaining residual values under the finance and operating leases are expected to be recovered through rates, renewals or new lease contracts. Residual values have been determined using the estimated economic life of the leased assets. The finance and operating leases do not contain residual value guarantees.

Certain of the operating leases have both lease and non-lease components. The lease and non-lease components are allocated based upon estimated relative standalone selling prices.

A lease is deemed to exist when the Registrants have provided other parties with the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration received. The right to control is deemed to occur when the Registrants have provided other parties with the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets.

DTE Energy’s lease income associated with operating leases was as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2019		2019
	(In millions)
Fixed payments	$	17	$	51
Variable payments	40		92
	$	57	$	143

DTE Energy’s minimum future rental revenues under operating leases for remaining periods as of September 30, 2019 were:

	DTE Energy
	(In millions)
2019	$	16
2020	66
2021	64
2022	22
2023	22
2024 and thereafter	216
	$	406

Depreciation expense associated with DTE Energy's property under operating leases was $7 million and $20 million for the three and nine months ended September 30, 2019, respectively.

Property under operating leases for DTE Energy was as follows:

	DTE Energy
	September 30, 2019
	(In millions)
Gross property under operating leases	$	444
Accumulated amortization of property under operating leases	$	166

The components of DTE Energy’s net investment in finance leases for remaining periods were as follows:

	DTE Energy
	September 30, 2019
	(In millions)
2019	$	3
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	13
Residual value of leased pipeline	40
Less unearned income	6
Net investment in finance lease	47
Less current portion	5
	$	42

Interest income recognized under finance leases was $2 million and $4 million for the three and nine months ended September 30, 2019, respectively.

Topic 840 — DTE Energy leases various assets under operating leases for energy facilities and related equipment.

DTE Energy’s minimum future rental revenues under non-cancelable operating leases as of December 31, 2018 were:

	DTE Energy
	(In millions)
2019	$	66
2020	66
2021	64
2022	20
2023	20
2024 and thereafter	196
	$	432

The amounts listed above do not include contingent rentals associated with the leased assets. DTE Energy had contingent rental revenues of $107 million, $91 million, and $101 million in 2018, 2017, and 2016, respectively.

DTE Energy leases a portion of its pipeline system to the Vector Pipeline through a capital lease contract that expires in 2020, with renewal options extending for five years. DTE Energy owns a 40% interest in the Vector Pipeline. In addition, DTE Energy has two energy services agreements, for which a portion of are accounted for as capital leases. These agreements expire in 2019 and 2026.

The components of DTE Energy’s net investment in capital leases at December 31, 2018 were as follows:

	DTE Energy
	(In millions)
2019	$	10
2020	9
2021	—
2022	—
2023	—
2024 and thereafter	1
Total minimum future lease receipts	20
Residual value of leased pipeline	40
Less unearned income	9
Net investment in capital lease	51
Less current portion	5
	$	46

Property under operating leases for DTE Energy as of December 31, 2018 were as follows:

	DTE Energy
	(In millions)
Gross property under operating leases	$	447
Accumulated amortization of property under operating leases	$	148

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Segment and Related Information (Financial Data - Inter-segment Billing) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ (3,119)	$ (3,550)	$ (9,521)	$ (10,462)
Electric
Segment Reporting Information [Line Items]
Revenues	(1,520)	(1,521)	(3,945)	(4,002)
Gas
Segment Reporting Information [Line Items]
Revenues	(155)	(164)	(1,043)	(969)
Gas Storage and Pipelines
Segment Reporting Information [Line Items]
Revenues	(126)	(122)	(363)	(363)
Power and Industrial Projects
Segment Reporting Information [Line Items]
Revenues	(406)	(612)	(1,196)	(1,717)
Energy Trading
Segment Reporting Information [Line Items]
Revenues	(1,105)	(1,332)	(3,519)	(3,994)
Reconciliation and Eliminations
Segment Reporting Information [Line Items]
Revenues	195	201	548	585
Reconciliation and Eliminations | Electric
Segment Reporting Information [Line Items]
Revenues	16	13	43	39
Reconciliation and Eliminations | Gas
Segment Reporting Information [Line Items]
Revenues	3	3	8	9
Reconciliation and Eliminations | Gas Storage and Pipelines
Segment Reporting Information [Line Items]
Revenues	11	7	17	29
Reconciliation and Eliminations | Power and Industrial Projects
Segment Reporting Information [Line Items]
Revenues	160	171	462	488
Reconciliation and Eliminations | Energy Trading
Segment Reporting Information [Line Items]
Revenues	4	6	16	18
Reconciliation and Eliminations | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ 1	$ 1	$ 2	$ 2

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Fair Value (Details Textuals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Equity securities realized gains	$ 3	$ 5	$ 27	$ 4

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Fair Value (Fair Value of Nuclear Decommissioning Trust Fund Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Nuclear decommissioning trust funds	$ 1,577	$ 1,378
DTE Electric
Debt Securities, Available-for-sale [Line Items]
Nuclear decommissioning trust funds	1,577	1,378
DTE Electric | Nuclear decommissioning trust fund
Debt Securities, Available-for-sale [Line Items]
Nuclear decommissioning trust funds	1,577	1,378
DTE Electric | Nuclear decommissioning trust fund | Fermi 2
Debt Securities, Available-for-sale [Line Items]
Nuclear decommissioning trust funds	1,567	1,372
DTE Electric | Nuclear decommissioning trust fund | Fermi 1
Debt Securities, Available-for-sale [Line Items]
Nuclear decommissioning trust funds	3	3
DTE Electric | Nuclear decommissioning trust fund | Low-level radioactive waste
Debt Securities, Available-for-sale [Line Items]
Nuclear decommissioning trust funds	$ 7	$ 3

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Retirement Benefits and Trusteed Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 21	$ 24	$ 63	$ 74
Interest cost	55	51	164	151
Expected return on plan assets	(82)	(82)	(244)	(247)
Amortization of net actuarial loss	33	43	99	132
Amortization of prior service credit	0	0	0	0
Net periodic benefit cost (credit)	27	36	82	110
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	5	6	16	20
Interest cost	18	18	53	52
Expected return on plan assets	(30)	(36)	(92)	(107)
Amortization of net actuarial loss	3	3	9	8
Amortization of prior service credit	(3)	0	(7)	0
Net periodic benefit cost (credit)	(7)	(9)	(21)	(27)
Other Postretirement Benefits | DTE Electric
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	5	12	15
Interest cost	13	13	40	40
Expected return on plan assets	(21)	(25)	(63)	(74)
Amortization of net actuarial loss	1	3	3	7
Amortization of prior service credit	(1)	0	(5)	0
Net periodic benefit cost (credit)	$ (4)	$ (4)	$ (13)	$ (12)

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Acquisitions (Purchase Price Allocation) (Details) - Electric - Heritage Sustainable Energy, Renewable Energy Project $ in Millions	Sep. 12, 2019 USD ($)
Business Acquisition [Line Items]
Contract intangibles	$ 111
Property, plant, and equipment, net	59
Working capital	4
Total	$ 174

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Organization and Basis of Presentation (Non-Consolidated Variable Interest Entities) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Investments in equity method investees	$ 1,839	$ 1,771
Notes receivable	193	64
Variable interest entity, non-consolidated
Variable Interest Entity [Line Items]
Investments in equity method investees	1,487	1,425
Notes receivable	26	15
Future funding commitments	$ 55	$ 55

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Significant Accounting Policies (Intangible Assets) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	$ 1,049	$ 938
Accumulated Amortization	(130)	(110)
Finite-lived intangible assets, net carrying value	919	828
Intangible assets, gross carrying value	1,070	959
Intangible assets, net carrying value	940	849
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	21	21
DTE Electric
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	0	0
Intangible assets, gross carrying value	21	21
Intangible assets, net carrying value	21	21
DTE Electric renewable energy credits | DTE Electric
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	20	20
DTE Electric emission allowances | DTE Electric
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	1	1
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	779	779
Accumulated Amortization	(58)	(44)
Finite-lived intangible assets, net carrying value	721	735
Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying value	270	159
Accumulated Amortization	(72)	(66)
Finite-lived intangible assets, net carrying value	$ 198	$ 93
Minimum | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Lives	25 years
Minimum | Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Useful Lives	6 years
Maximum | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Lives	40 years
Maximum | Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Useful Lives	26 years

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Segment and Related Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment and Related Information

SEGMENT AND RELATED INFORMATION

DTE Energy sets strategic goals, allocates resources, and evaluates performance based on the following structure:

Electric segment consists principally of DTE Electric, which is engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan.

Gas segment consists principally of DTE Gas, which is engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.3 million residential, commercial, and industrial customers throughout Michigan and the sale of storage and transportation capacity.

Gas Storage and Pipelines is primarily engaged in services related to the gathering, transportation, and storage of natural gas.

Power and Industrial Projects is comprised primarily of projects that deliver energy and utility-type products and services to industrial, commercial, and institutional customers, produce reduced emissions fuel, and sell electricity and pipeline-quality gas from renewable energy projects.

Energy Trading consists of energy marketing and trading operations.

Corporate and Other includes various holding company activities, holds certain non-utility debt, and holds energy-related investments.

The federal income tax provisions or benefits of DTE Energy’s subsidiaries are determined on an individual company basis and recognize the tax benefit of tax credits and net operating losses, if applicable. The state and local income tax provisions of the utility subsidiaries are determined on an individual company basis and recognize the tax benefit of various tax credits and net operating losses, if applicable. The subsidiaries record federal, state, and local income taxes payable to or receivable from DTE Energy based on the federal, state, and local tax provisions of each company.

Inter-segment billing for goods and services exchanged between segments is based upon tariffed or market-based prices of the provider and primarily consists of the sale of reduced emissions fuel, power sales, and natural gas sales in the following segments:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Electric	$	16	$	13	$	43	$	39
Gas	3		3		8		9
Gas Storage and Pipelines	11		7		17		29
Power and Industrial Projects	160		171		462		488
Energy Trading	4		6		16		18
Corporate and Other	1		1		2		2
	$	195	$	201	$	548	$	585

Financial data of DTE Energy's business segments follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Operating Revenues — Utility operations
Electric	$	1,520		$	1,521		$	3,945		$	4,002
Gas	155			164			1,043			969
Operating Revenues — Non-utility operations
Gas Storage and Pipelines	126			122			363			363
Power and Industrial Projects	406			612			1,196			1,717
Energy Trading	1,105			1,332			3,519			3,994
Corporate and Other	2			—			3			2
Reconciliation and Eliminations	(195		)	(201		)	(548		)	(585		)
Total	$	3,119		$	3,550		$	9,521		$	10,462

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(In millions)
Net Income (Loss) Attributable to DTE Energy by Segment:
Electric	$	307		$	305		$	587		$	608
Gas	(38		)	(30		)	121			88
Gas Storage and Pipelines	60			66			158			188
Power and Industrial Projects	49			58			104			146
Energy Trading	(14		)	(13		)	12			13
Corporate and Other	(45		)	(52		)	(80		)	(114		)
Net Income Attributable to DTE Energy Company	$	319		$	334		$	902		$	929

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Short-Term Credit Arrangements and Borrowings

9 Months Ended

Sep. 30, 2019

Short-term Debt [Abstract]

Short-Term Credit Arrangements and Borrowings

SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS

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. Additionally, DTE Energy has other facilities to support letter of credit issuance.

The agreements require DTE Energy, DTE Electric, and DTE Gas to maintain a total funded debt to capitalization ratio of no more than 0.65 to 1. In the agreements, "total funded debt" means all indebtedness of each respective company and their consolidated subsidiaries, including capital 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 September 30, 2019, the total funded debt to total capitalization ratios for DTE Energy, DTE Electric, and DTE Gas were 0.57 to 1, 0.52 to 1, and 0.46 to 1, respectively, and were in compliance with this financial covenant.

The availability under the facilities in place at September 30, 2019 is shown in the following table:

	DTE Energy		DTE Electric		DTE Gas		Total
	(In millions)
Unsecured letter of credit facility, expiring in February 2021	$	150	$	—	$	—	$	150
Unsecured letter of credit facility, expiring in August 2021	110		—		—		110
Unsecured revolving credit facility, expiring April 2024	1,500		500		300		2,300
	1,760		500		300		2,560
Amounts outstanding at September 30, 2019
Commercial paper issuances	110		382		232		724
Letters of credit	191		—		—		191
	301		382		232		915
Net availability at September 30, 2019	$	1,459	$	118	$	68	$	1,645

In August 2019, DTE Energy increased its $70 million letter of credit facility to $110 million. The facility's maturity date was amended from September 2019 to August 2021.

DTE Energy has $9 million of other outstanding letters of credit which are used for various corporate purposes and are not included in the facilities described above.

In conjunction with maintaining certain exchange traded risk management positions, DTE Energy may be required to post collateral with its clearing agent. DTE Energy has a demand financing agreement for up to $100 million with its clearing agent. The agreement, as amended, also allows for up to $50 million of additional margin financing provided that DTE Energy posts a letter of credit for the incremental amount and allows the right of setoff with posted collateral. At September 30, 2019, the capacity under this facility was $150 million. The amount outstanding under this agreement was $94 million and $93 million at September 30, 2019 and December 31, 2018, respectively, and was fully offset by the posted collateral.

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Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Schedule of Other Income

The following is a summary of DTE Energy's Other income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Income from REF entities	$	40	$	27	$	96	$	75
Equity earnings of equity method investees	34		46		77		99
Gains from equity securities	3		5		27		6
Contract services	7		11		21		43
Allowance for equity funds used during construction	5		7		18		20
Other	9		3		20		19
	$	98	$	99	$	259	$	262

The following is a summary of DTE Electric's Other income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions)
Gains from equity securities allocated from DTE Energy	$	3	$	5	$	27	$	6
Contract services	7		11		23		44
Allowance for equity funds used during construction	5		5		17		14
Other	5		2		11		8
	$	20	$	23	$	78	$	72

Schedule of Effective Tax Rates

The interim effective tax rates of the Registrants are as follows:

	Effective Tax Rate
	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
DTE Energy	13	%	9	%	12	%	12	%
DTE Electric	16	%	21	%	16	%	22	%

Schedule of Finite-Lived Intangible Assets by Major Class

The Registrants have certain Intangible assets as shown below:

		September 30, 2019							December 31, 2018
	Useful Lives	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
		(In millions)
Intangible assets subject to amortization
Customer relationships	25 to 40 years(a)	$	779	$	(58	)	$	721	$	779	$	(44	)	$	735
Contract intangibles	6 to 26 years	270		(72		)	198		159		(66		)	93
		1,049		(130		)	919		938		(110		)	828
DTE Electric renewable energy credits	(b)	20		—			20		20		—			20
DTE Electric emission allowances	(b)	1		—			1		1		—			1
		21		—			21		21		—			21
Long-term intangible assets
DTE Electric		$	21	$	—		$	21	$	21	$	—		$	21
DTE Energy		$	1,070	$	(130	)	$	940	$	959	$	(110	)	$	849

______________________________________

(a) The useful lives of the customer relationship intangible assets are based on the number of years in which the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts and expected renewal rates based on the estimated volume and production lives of gas resources in the region.

(b)

Emission allowances and renewable energy credits are charged to expense, using average cost, as the allowances and credits are consumed in the operation of the business.

Schedule of Indefinite-Lived Intangible Assets

The Registrants have certain Intangible assets as shown below:

		September 30, 2019							December 31, 2018
	Useful Lives	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
		(In millions)
Intangible assets subject to amortization
Customer relationships	25 to 40 years(a)	$	779	$	(58	)	$	721	$	779	$	(44	)	$	735
Contract intangibles	6 to 26 years	270		(72		)	198		159		(66		)	93
		1,049		(130		)	919		938		(110		)	828
DTE Electric renewable energy credits	(b)	20		—			20		20		—			20
DTE Electric emission allowances	(b)	1		—			1		1		—			1
		21		—			21		21		—			21
Long-term intangible assets
DTE Electric		$	21	$	—		$	21	$	21	$	—		$	21
DTE Energy		$	1,070	$	(130	)	$	940	$	959	$	(110	)	$	849

______________________________________

(a) The useful lives of the customer relationship intangible assets are based on the number of years in which the assets are expected to economically contribute to the business. The expected economic benefit incorporates existing customer contracts and expected renewal rates based on the estimated volume and production lives of gas resources in the region.

(b)

Emission allowances and renewable energy credits are charged to expense, using average cost, as the allowances and credits are consumed in the operation of the business.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table summarizes DTE Energy's estimated customer relationship and contract intangible amortization expense expected to be recognized during each year through 2024:

	Remaining
	2019		2020		2021		2022		2023		2024
	(In millions)
Estimated amortization expense	$	9	$	35	$	34	$	34	$	34	$	34

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Organization and Basis of Presentation (Details Textuals) customer in Millions	Sep. 30, 2019 USD ($) customer
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of electric utility customers | customer	2.2
Number of gas utility customers | customer	1.3
Significant potential exposure | $	$ 0
DTE Electric
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Significant potential exposure | $	$ 0
NEXUS pipeline
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Ownership interest	50.00%
SGG | Midstream Natural Gas Assets
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Percent of assets acquired	85.00%

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company	$	319	$	334	$	902	$	929
Less: Allocation of earnings to net restricted stock awards	1		1		2		2
Net income available to common shareholders — basic	$	318	$	333	$	900	$	927
Average number of common shares outstanding — basic	183		182		183		181
Basic Earnings per Common Share	$	1.74	$	1.84	$	4.93	$	5.13
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company	$	319	$	334	$	902	$	929
Less: Allocation of earnings to net restricted stock awards	1		1		2		2
Net income available to common shareholders — diluted	$	318	$	333	$	900	$	927
Average number of common shares outstanding — basic	183		182		183		181
Incremental shares attributable to:
Average dilutive equity units, performance share awards, and stock options	1		—		1		—
Average number of common shares outstanding — diluted	184		182		184		181
Diluted Earnings per Common Share(a)	$	1.73	$	1.84	$	4.91	$	5.13

_______________________________________

(a)

The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6.2 million for the three months ended September 30, 2018 and 6.4 million for the nine months ended September 30, 2018 as the dilutive stock price threshold was not met.

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Consolidated Statements of Financial Position (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Allowance for doubtful accounts	$ 93	$ 91
Shareholder’s Equity
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	183,396,510	181,925,281
Common stock, shares outstanding (in shares)	183,396,510	181,925,281
DTE Electric
Allowance for doubtful accounts	$ 48	$ 53
Shareholder’s Equity
Par value (in dollars per share)	$ 10	$ 10
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	138,632,324	138,632,324
Common stock, shares outstanding (in shares)	138,632,324	138,632,324

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Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating Revenues
Utility operations	$ 1,656	$ 1,669	$ 4,937	$ 4,923
Non-utility operations	1,463	1,881	4,584	5,539
Operating Revenues	3,119	3,550	9,521	10,462
Operating Expenses
Fuel, purchased power, and gas — utility	400	453	1,342	1,440
Fuel, purchased power, and gas — non-utility	1,257	1,682	3,900	4,898
Operation and maintenance	588	604	1,739	1,721
Depreciation and amortization	322	273	923	826
Taxes other than income	101	99	311	307
Asset (gains) losses and impairments, net	1	10	14	8
Operating Expenses	2,669	3,121	8,229	9,200
Operating Income	450	429	1,292	1,262
Other (Income) and Deductions
Interest expense	162	142	468	412
Interest income	(4)	(3)	(11)	(9)
Non-operating retirement benefits, net	9	9	28	27
Other income	(98)	(99)	(259)	(262)
Other expenses	17	11	40	51
Other (Income) and Deductions	86	60	266	219
Income Before Income Taxes	364	369	1,026	1,043
Income Tax Expense	47	34	122	121
Net Income	317	335	904	922
Less: Net Income (Loss) Attributable to Noncontrolling Interests	(2)	1	2	(7)
Net Income Attributable to DTE Energy Company/DTE Electric Company	$ 319	$ 334	$ 902	$ 929
Basic Earnings per Common Share
Net Income Attributable to DTE Energy Company (in dollars per share)	$ 1.74	$ 1.84	$ 4.93	$ 5.13
Diluted Earnings per Common Share
Net Income Attributable to DTE Energy Company (in dollars per share)	$ 1.73	$ 1.84	$ 4.91	$ 5.13
Weighted Average Common Shares Outstanding
Basic (in shares)	183	182	183	181
Diluted (in shares)	184	182	184	181
DTE Electric
Operating Revenues
Utility operations	$ 1,519	$ 1,521	$ 3,944	$ 4,002
Operating Expenses
Fuel, purchased power, and gas — utility	399	438	1,067	1,163
Operation and maintenance	356	360	1,048	1,025
Depreciation and amortization	244	202	694	616
Taxes other than income	80	77	233	232
Asset (gains) losses and impairments, net	0	0	13	0
Operating Expenses	1,079	1,077	3,055	3,036
Operating Income	440	444	889	966
Other (Income) and Deductions
Interest expense	80	73	234	210
Interest income	0	0	(1)	0
Non-operating retirement benefits, net	0	(1)	0	(1)
Other income	(20)	(23)	(78)	(72)
Other expenses	14	9	34	49
Other (Income) and Deductions	74	58	189	186
Income Before Income Taxes	366	386	700	780
Income Tax Expense	59	81	113	172
Net Income Attributable to DTE Energy Company/DTE Electric Company	$ 307	$ 305	$ 587	$ 608

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Short-Term Credit Arrangements and Borrowings (Tables)

9 Months Ended

Sep. 30, 2019

Short-term Debt [Abstract]

Schedule of Line of Credit Facilities

The availability under the facilities in place at September 30, 2019 is shown in the following table:

	DTE Energy		DTE Electric		DTE Gas		Total
	(In millions)
Unsecured letter of credit facility, expiring in February 2021	$	150	$	—	$	—	$	150
Unsecured letter of credit facility, expiring in August 2021	110		—		—		110
Unsecured revolving credit facility, expiring April 2024	1,500		500		300		2,300
	1,760		500		300		2,560
Amounts outstanding at September 30, 2019
Commercial paper issuances	110		382		232		724
Letters of credit	191		—		—		191
	301		382		232		915
Net availability at September 30, 2019	$	1,459	$	118	$	68	$	1,645

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Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing the net income, adjusted for income allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares. DTE Energy’s participating securities are restricted shares under the stock incentive program that contain rights to receive non-forfeitable dividends. Equity units, performance shares, and stock options do not receive cash dividends; as such, these awards are not considered participating securities.

The following is a reconciliation of DTE Energy's basic and diluted income per share calculation:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company	$	319	$	334	$	902	$	929
Less: Allocation of earnings to net restricted stock awards	1		1		2		2
Net income available to common shareholders — basic	$	318	$	333	$	900	$	927
Average number of common shares outstanding — basic	183		182		183		181
Basic Earnings per Common Share	$	1.74	$	1.84	$	4.93	$	5.13
Diluted Earnings per Share
Net Income Attributable to DTE Energy Company	$	319	$	334	$	902	$	929
Less: Allocation of earnings to net restricted stock awards	1		1		2		2
Net income available to common shareholders — diluted	$	318	$	333	$	900	$	927
Average number of common shares outstanding — basic	183		182		183		181
Incremental shares attributable to:
Average dilutive equity units, performance share awards, and stock options	1		—		1		—
Average number of common shares outstanding — diluted	184		182		184		181
Diluted Earnings per Common Share(a)	$	1.73	$	1.84	$	4.91	$	5.13

_______________________________________

(a) The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6.2 million for the three months ended September 30, 2018 and 6.4 million for the nine months ended September 30, 2018 as the dilutive stock price threshold was not met.

On October 1, 2019, DTE Energy issued approximately 5.87 million shares of common stock under the stock purchase contracts associated with DTE Energy's 2016 Series C Equity Units for $675 million. Refer to Note 10 to the Consolidated Financial Statements, "Long-Term Debt" for additional information.

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New Accounting Pronouncements

9 Months Ended

Sep. 30, 2019

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Pronouncements

NEW ACCOUNTING PRONOUNCEMENTS

Recently Adopted Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), as amended. This guidance requires a lessee to account for leases as finance or operating leases and disclose key information about leasing arrangements. Both types of leases will result in the lessee recognizing a right-of-use asset and a corresponding lease liability on its balance sheet, with differing methodology for income statement recognition, depending on the lease classification. The Registrants adopted the standard on January 1, 2019 using the prospective approach. The standard provides a number of transition practical expedients of which the Registrants elected the package of three expedients that must be taken together, allowing entities to not reassess whether an agreement is a lease, to carryforward the existing lease classification, and to not reassess initial direct costs associated with existing leases; but did not elect to apply hindsight in determining lease term and impairment of the right-of-use assets. The Registrants also elected to not evaluate land easements under the new guidance at adoption if they were not previously accounted for as leases. These practical expedients apply to leases that commenced prior to January 1, 2019.

At adoption of the new standard, the Registrants recognized on the Consolidated Statements of Financial Position, right-of-use assets and lease liabilities for certain operating leases of approximately $137 million and $130 million, respectively, for DTE Energy and approximately $74 million and $67 million, respectively, for DTE Electric as of January 1, 2019. The right-of-use lease assets include $9 million of prepaid lease costs that have been reclassified from Other assets, current and noncurrent, and $2 million of deferred lease costs that have been reclassified from Other liabilities, current and noncurrent, for the Registrants. The adoption of the ASU did not have a significant impact on the Registrants' Consolidated Statements of Operations but required additional disclosures for leases. See Note 12 to the Consolidated Financial Statements, "Leases."

In February 2018, the FASB issued ASU No. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings from stranded tax effects resulting from the TCJA. The amendments in this update also require entities to disclose their accounting policy for releasing income tax effects from accumulated other comprehensive income. The Registrants adopted the standard effective January 1, 2019. Upon adoption, DTE Energy reclassified $25 million of income tax effects from Accumulated other comprehensive income (loss) to Retained Earnings.

Recently Issued Pronouncements

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended. The amendments in this update replace the incurred loss impairment methodology in current generally accepted accounting principles with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasts, to develop credit loss estimates. The ASU requires entities to use the new methodology to measure impairment of financial instruments, including accounts receivable, and may result in earlier recognition of credit losses than under current generally accepted accounting principles. Entities will apply the new guidance as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The ASU is effective for the Registrants beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for the Registrants for fiscal years ending after December 15, 2020. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The ASU may be applied using either a retrospective or prospective approach. The Registrants are currently evaluating the transition methods and assessing the impact of this standard on their Consolidated Financial Statements.

In October 2018, the FASB issued ASU No. 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities. The amendments in this update modify the requirements for determining whether a decision-making fee is a variable interest and require reporting entities to consider indirect interests held through related parties under common control on a proportional basis. The ASU is effective for the Registrants for fiscal years beginning after December 15, 2019, and interim periods therein. Early adoption is permitted. The Registrants anticipate adopting the ASU on its effective date. The Registrants are currently assessing the impact of this standard on their Consolidated Financial Statements.

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Leases (Future Minimum Lease Payments for Operating Leases - Topic 840) (Details) $ in Millions	Dec. 31, 2018 USD ($)
Lessee, Lease, Description [Line Items]
2019	$ 42
2020	30
2021	18
2022	11
2023	8
2024 and thereafter	45
Total future minimum lease payments	154
DTE Electric
Lessee, Lease, Description [Line Items]
2019	17
2020	12
2021	10
2022	7
2023	5
2024 and thereafter	29
Total future minimum lease payments	$ 80

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Financial and Other Derivative Instruments (Cumulative Gross Volume of Derivative Contracts Outstanding) (Details)	9 Months Ended
	Sep. 30, 2019 CAD ($) MMBTU MWh
Natural gas (MMBtu)
Derivative [Line Items]
Commodity | MMBTU	2,018,659,087
Electricity (MWh)
Derivative [Line Items]
Commodity | MWh	30,880,332
Foreign currency exchange (CAD)
Derivative [Line Items]
Foreign currency exchange (CAD) | $	$ 79,292,076

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Short-Term Credit Arrangements and Borrowings (Details) - USD ($)	Sep. 30, 2019	Aug. 31, 2019
Availability under combined facilities
Maximum borrowing capacity	$ 2,560,000,000
Amounts outstanding	915,000,000
Net availability	1,645,000,000
DTE Electric
Availability under combined facilities
Maximum borrowing capacity	500,000,000
Amounts outstanding	382,000,000
Net availability	118,000,000
DTE Gas
Availability under combined facilities
Maximum borrowing capacity	300,000,000
Amounts outstanding	232,000,000
Net availability	68,000,000
DTE Energy
Availability under combined facilities
Maximum borrowing capacity	1,760,000,000
Amounts outstanding	301,000,000
Net availability	1,459,000,000
Letter of credit
Availability under combined facilities
Amounts outstanding	191,000,000
Letter of credit | DTE Electric
Availability under combined facilities
Amounts outstanding	0
Letter of credit | DTE Gas
Availability under combined facilities
Amounts outstanding	0
Letter of credit | DTE Energy
Availability under combined facilities
Amounts outstanding	191,000,000
Letter of credit | Unsecured letter of credit facility, expiring in February 2021
Availability under combined facilities
Maximum borrowing capacity	150,000,000
Letter of credit | Unsecured letter of credit facility, expiring in February 2021 | DTE Electric
Availability under combined facilities
Maximum borrowing capacity	0
Letter of credit | Unsecured letter of credit facility, expiring in February 2021 | DTE Gas
Availability under combined facilities
Maximum borrowing capacity	0
Letter of credit | Unsecured letter of credit facility, expiring in February 2021 | DTE Energy
Availability under combined facilities
Maximum borrowing capacity	150,000,000
Letter of credit | Unsecured letter of credit facility, expiring in August 2021
Availability under combined facilities
Maximum borrowing capacity	110,000,000
Letter of credit | Unsecured letter of credit facility, expiring in August 2021 | DTE Electric
Availability under combined facilities
Maximum borrowing capacity	0
Letter of credit | Unsecured letter of credit facility, expiring in August 2021 | DTE Gas
Availability under combined facilities
Maximum borrowing capacity	0
Letter of credit | Unsecured letter of credit facility, expiring in August 2021 | DTE Energy
Availability under combined facilities
Maximum borrowing capacity	110,000,000	$ 110,000,000
Revolving credit facility | Unsecured revolving credit facility, expiring April 2024
Availability under combined facilities
Maximum borrowing capacity	2,300,000,000
Revolving credit facility | Unsecured revolving credit facility, expiring April 2024 | DTE Electric
Availability under combined facilities
Maximum borrowing capacity	500,000,000
Revolving credit facility | Unsecured revolving credit facility, expiring April 2024 | DTE Gas
Availability under combined facilities
Maximum borrowing capacity	300,000,000
Revolving credit facility | Unsecured revolving credit facility, expiring April 2024 | DTE Energy
Availability under combined facilities
Maximum borrowing capacity	1,500,000,000
Commercial paper issuances
Availability under combined facilities
Amounts outstanding	724,000,000
Commercial paper issuances | DTE Electric
Availability under combined facilities
Amounts outstanding	382,000,000
Commercial paper issuances | DTE Gas
Availability under combined facilities
Amounts outstanding	232,000,000
Commercial paper issuances | DTE Energy
Availability under combined facilities
Amounts outstanding	$ 110,000,000

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Leases (Components of Net Investment in Finance Leases) (Details) $ in Millions	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019	$ 3
2020	9
2021	0
2022	0
2023	0
2024 and thereafter	1
Total minimum future lease receipts	13
Residual value of leased pipeline	40
Less unearned income	6
Net investment in finance lease	47
Less current portion	5
Net investment in finance lease, noncurrent	$ 42

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Revenue (Expenses Recognized for Estimated Uncollectible Accounts Receivable) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue from External Customer [Line Items]
Allowance for doubtful accounts receivable write-offs	$ 28	$ 39	$ 81	$ 95
DTE Electric
Revenue from External Customer [Line Items]
Allowance for doubtful accounts receivable write-offs	$ 17	$ 26	$ 47	$ 57

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Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 3,119	$ 3,550	$ 9,521	$ 10,462
Electric
Disaggregation of Revenue [Line Items]
Revenues	1,520	1,521	3,945	4,002
Electric | Other
Disaggregation of Revenue [Line Items]
Revenues	5	6	14	15
Electric | Residential
Disaggregation of Revenue [Line Items]
Revenues	791	773	1,839	1,943
Electric | Commercial
Disaggregation of Revenue [Line Items]
Revenues	515	495	1,358	1,370
Electric | Industrial
Disaggregation of Revenue [Line Items]
Revenues	175	173	497	527
Electric | Other
Disaggregation of Revenue [Line Items]
Revenues	39	80	251	162
Gas
Disaggregation of Revenue [Line Items]
Revenues	155	164	1,043	969
Gas | Alternative Revenue Programs
Disaggregation of Revenue [Line Items]
Revenues				4
Gas | Other
Disaggregation of Revenue [Line Items]
Revenues	2	2	6	6
Gas | Other
Disaggregation of Revenue [Line Items]
Revenues	18	32	102	37
Gas | Gas sales
Disaggregation of Revenue [Line Items]
Revenues	87	89	727	726
Gas | End User Transportation
Disaggregation of Revenue [Line Items]
Revenues	35	34	157	168
Gas | Intermediate Transportation
Disaggregation of Revenue [Line Items]
Revenues	15	9	57	38
Gas Storage and Pipelines
Disaggregation of Revenue [Line Items]
Revenues	126	122	363	363
Lease revenue outside scope of Topic 606	2		7
Power and Industrial Projects
Disaggregation of Revenue [Line Items]
Revenues	406	612	1,196	1,717
Lease revenue outside scope of Topic 606	33	37	94	93
Energy Trading
Disaggregation of Revenue [Line Items]
Revenues	1,105	1,332	3,519	3,994
Gain (loss) on derivative outside scope of Topic 606	$ 791	$ 1,100	$ 2,600	$ 3,200

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Fair Value (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative assets
Derivative assets, gross	$ 429	$ 663
Derivative asset, netting	(318)	(530)
Derivative assets, net	111	133
Derivative liabilities
Derivative liabilities, gross	(460)	(669)
Derivative liability, netting	318	513
Derivative liabilities, net	(142)	(156)
Current liabilities
Derivative liabilities
Derivative liabilities, gross	(339)	(518)
Noncurrent liabilities
Derivative liabilities
Derivative liabilities, gross	(121)	(151)
Natural gas
Derivative assets
Derivative assets, gross	253	349
Derivative asset, netting	(189)	(277)
Derivative assets, net	64	72
Derivative liabilities
Derivative liabilities, gross	(297)	(380)
Derivative liability, netting	189	272
Derivative liabilities, net	(108)	(108)
Electricity
Derivative assets
Derivative assets, gross	164	303
Derivative asset, netting	(124)	(252)
Derivative assets, net	40	51
Derivative liabilities
Derivative liabilities, gross	(155)	(285)
Derivative liability, netting	124	240
Derivative liabilities, net	(31)	(45)
Other
Derivative assets
Derivative assets, gross	10	7
Derivative asset, netting	(5)	(1)
Derivative assets, net	5	6
Derivative liabilities
Derivative liabilities, gross	(8)	(1)
Derivative liability, netting	5	1
Derivative liabilities, net	(3)	0
Interest rate contracts
Derivative liabilities
Derivative liabilities, gross	0	(3)
Derivative liability, netting	0	0
Derivative liabilities, net	0	(3)
Foreign currency exchange contracts
Derivative assets
Derivative assets, gross	2	4
Derivative asset, netting	0	0
Derivative assets, net	2	4
Recurring
Assets
Cash equivalents	21	18
Derivative assets
Derivative asset, netting	(318)	(530)
Derivative assets, net	111	133
Total assets	1,921	1,712
Derivative liabilities
Derivative liability, netting	318	513
Derivative liabilities, net	(142)	(156)
Net Assets (Liabilities) at end of period	1,779	1,556
Net Assets (Liabilities) at end of period, netting	0	(17)
Recurring | DTE Electric
Assets
Cash equivalents	11	10
Derivative assets
Total assets	1,605	1,404
Recurring | Current assets
Derivative assets
Derivative asset, netting	(271)	(461)
Total assets	96	120
Recurring | Current assets | DTE Electric
Derivative assets
Total assets	16	16
Recurring | Noncurrent assets
Derivative assets
Derivative asset, netting	(47)	(69)
Total assets	1,825	1,592
Recurring | Noncurrent assets | DTE Electric
Derivative assets
Total assets	1,589	1,388
Recurring | Current liabilities
Derivative liabilities
Derivative liability, netting	271	451
Derivative liabilities, net	(68)	(67)
Recurring | Noncurrent liabilities
Derivative liabilities
Derivative liability, netting	47	62
Derivative liabilities, net	(74)	(89)
Recurring | Cash and cash equivalents
Assets
Cash equivalents	10	3
Recurring | Restricted cash
Assets
Cash equivalents		5
Recurring | Other investments
Assets
Cash equivalents	11	10
Recurring | Other investments | DTE Electric
Assets
Cash equivalents	11	10
Recurring | Natural gas
Derivative assets
Derivative asset, netting	(189)	(277)
Derivative assets, net	64	72
Derivative liabilities
Derivative liability, netting	189	272
Derivative liabilities, net	(108)	(108)
Recurring | Electricity
Derivative assets
Derivative asset, netting	(124)	(252)
Derivative assets, net	40	51
Derivative liabilities
Derivative liability, netting	124	240
Derivative liabilities, net	(31)	(45)
Recurring | Other
Derivative assets
Derivative asset, netting	(5)	(1)
Derivative assets, net	5	6
Derivative liabilities
Derivative liability, netting	5	1
Derivative liabilities, net	(3)	0
Recurring | Interest rate contracts
Derivative liabilities
Derivative liability, netting	0	0
Derivative liabilities, net	0	(3)
Recurring | Foreign currency exchange contracts
Derivative assets
Derivative asset, netting	0	0
Derivative assets, net	2	4
Recurring | Derivative assets — FTRs | DTE Electric
Derivative assets
Derivative assets, net	5	6
Recurring | Cash equivalents
Assets
Nuclear decommissioning trusts	9	5
Other investments	4	4
Recurring | Cash equivalents | DTE Electric
Assets
Nuclear decommissioning trusts	9	5
Recurring | Private equity and other
Assets
Nuclear decommissioning trusts	34	20
Recurring | Private equity and other | DTE Electric
Assets
Nuclear decommissioning trusts	34	20
Recurring | Equity securities
Assets
Nuclear decommissioning trusts	990	851
Other investments	130	110
Recurring | Equity securities | DTE Electric
Assets
Nuclear decommissioning trusts	990	851
Other investments	12	10
Recurring | Fixed income securities
Assets
Nuclear decommissioning trusts	544	502
Other investments	78	69
Recurring | Fixed income securities | DTE Electric
Assets
Nuclear decommissioning trusts	544	502
Recurring | Level 1
Assets
Cash equivalents	21	16
Derivative assets
Derivative assets, gross	114	199
Total assets	1,355	1,266
Derivative liabilities
Derivative liabilities, gross	(137)	(197)
Net Assets (Liabilities) at end of period	1,218	1,069
Recurring | Level 1 | DTE Electric
Assets
Cash equivalents	11	8
Derivative assets
Total assets	1,031	886
Recurring | Level 1 | Current assets
Derivative assets
Total assets	130	212
Recurring | Level 1 | Current assets | DTE Electric
Derivative assets
Total assets	11	8
Recurring | Level 1 | Noncurrent assets
Derivative assets
Total assets	1,225	1,054
Recurring | Level 1 | Noncurrent assets | DTE Electric
Derivative assets
Total assets	1,020	878
Recurring | Level 1 | Current liabilities
Derivative liabilities
Derivative liabilities, gross	(123)	(191)
Recurring | Level 1 | Noncurrent liabilities
Derivative liabilities
Derivative liabilities, gross	(14)	(6)
Recurring | Level 1 | Natural gas
Derivative assets
Derivative assets, gross	109	199
Derivative liabilities
Derivative liabilities, gross	(130)	(197)
Recurring | Level 1 | Electricity
Derivative assets
Derivative assets, gross	0	0
Derivative liabilities
Derivative liabilities, gross	0	0
Recurring | Level 1 | Other
Derivative assets
Derivative assets, gross	5	0
Derivative liabilities
Derivative liabilities, gross	(7)	0
Recurring | Level 1 | Interest rate contracts
Derivative liabilities
Derivative liabilities, gross	0	0
Recurring | Level 1 | Foreign currency exchange contracts
Derivative assets
Derivative assets, gross	0	0
Recurring | Level 1 | Derivative assets — FTRs | DTE Electric
Derivative assets
Derivative assets, net	0	0
Recurring | Level 1 | Cash equivalents
Assets
Nuclear decommissioning trusts	9	5
Other investments	4	4
Recurring | Level 1 | Cash equivalents | DTE Electric
Assets
Nuclear decommissioning trusts	9	5
Recurring | Level 1 | Private equity and other
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 1 | Private equity and other | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 1 | Equity securities
Assets
Nuclear decommissioning trusts	990	851
Other investments	130	110
Recurring | Level 1 | Equity securities | DTE Electric
Assets
Nuclear decommissioning trusts	990	851
Other investments	12	10
Recurring | Level 1 | Fixed income securities
Assets
Nuclear decommissioning trusts	9	12
Other investments	78	69
Recurring | Level 1 | Fixed income securities | DTE Electric
Assets
Nuclear decommissioning trusts	9	12
Recurring | Level 2
Assets
Cash equivalents	0	2
Derivative assets
Derivative assets, gross	220	338
Total assets	755	830
Derivative liabilities
Derivative liabilities, gross	(200)	(302)
Net Assets (Liabilities) at end of period	555	528
Recurring | Level 2 | DTE Electric
Assets
Cash equivalents	0	2
Derivative assets
Total assets	535	492
Recurring | Level 2 | Current assets
Derivative assets
Total assets	175	273
Recurring | Level 2 | Current assets | DTE Electric
Derivative assets
Total assets	0	2
Recurring | Level 2 | Noncurrent assets
Derivative assets
Total assets	580	557
Recurring | Level 2 | Noncurrent assets | DTE Electric
Derivative assets
Total assets	535	490
Recurring | Level 2 | Current liabilities
Derivative liabilities
Derivative liabilities, gross	(163)	(251)
Recurring | Level 2 | Noncurrent liabilities
Derivative liabilities
Derivative liabilities, gross	(37)	(51)
Recurring | Level 2 | Natural gas
Derivative assets
Derivative assets, gross	90	87
Derivative liabilities
Derivative liabilities, gross	(72)	(71)
Recurring | Level 2 | Electricity
Derivative assets
Derivative assets, gross	128	247
Derivative liabilities
Derivative liabilities, gross	(127)	(227)
Recurring | Level 2 | Other
Derivative assets
Derivative assets, gross	0	0
Derivative liabilities
Derivative liabilities, gross	(1)	(1)
Recurring | Level 2 | Interest rate contracts
Derivative liabilities
Derivative liabilities, gross	0	(3)
Recurring | Level 2 | Foreign currency exchange contracts
Derivative assets
Derivative assets, gross	2	4
Recurring | Level 2 | Derivative assets — FTRs | DTE Electric
Derivative assets
Derivative assets, net	0	0
Recurring | Level 2 | Cash equivalents
Assets
Nuclear decommissioning trusts	0	0
Other investments	0	0
Recurring | Level 2 | Cash equivalents | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 2 | Private equity and other
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 2 | Private equity and other | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 2 | Equity securities
Assets
Nuclear decommissioning trusts	0	0
Other investments	0	0
Recurring | Level 2 | Equity securities | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Other investments	0	0
Recurring | Level 2 | Fixed income securities
Assets
Nuclear decommissioning trusts	535	490
Other investments	0	0
Recurring | Level 2 | Fixed income securities | DTE Electric
Assets
Nuclear decommissioning trusts	535	490
Recurring | Level 3
Assets
Cash equivalents	0	0
Derivative assets
Derivative assets, gross	95	126
Total assets	95	126
Derivative liabilities
Derivative liabilities, gross	(123)	(170)
Net Assets (Liabilities) at end of period	(28)	(44)
Recurring | Level 3 | DTE Electric
Assets
Cash equivalents	0	0
Derivative assets
Total assets	5	6
Recurring | Level 3 | Current assets
Derivative assets
Total assets	62	96
Recurring | Level 3 | Current assets | DTE Electric
Derivative assets
Total assets	5	6
Recurring | Level 3 | Noncurrent assets
Derivative assets
Total assets	33	30
Recurring | Level 3 | Noncurrent assets | DTE Electric
Derivative assets
Total assets	0	0
Recurring | Level 3 | Current liabilities
Derivative liabilities
Derivative liabilities, gross	(53)	(76)
Recurring | Level 3 | Noncurrent liabilities
Derivative liabilities
Derivative liabilities, gross	(70)	(94)
Recurring | Level 3 | Natural gas
Derivative assets
Derivative assets, gross	54	63
Derivative liabilities
Derivative liabilities, gross	(95)	(112)
Recurring | Level 3 | Electricity
Derivative assets
Derivative assets, gross	36	56
Derivative liabilities
Derivative liabilities, gross	(28)	(58)
Recurring | Level 3 | Other
Derivative assets
Derivative assets, gross	5	7
Derivative liabilities
Derivative liabilities, gross	0	0
Recurring | Level 3 | Interest rate contracts
Derivative liabilities
Derivative liabilities, gross	0	0
Recurring | Level 3 | Foreign currency exchange contracts
Derivative assets
Derivative assets, gross	0	0
Recurring | Level 3 | Derivative assets — FTRs | DTE Electric
Derivative assets
Derivative assets, net	5	6
Recurring | Level 3 | Cash equivalents
Assets
Nuclear decommissioning trusts	0	0
Other investments	0	0
Recurring | Level 3 | Cash equivalents | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 3 | Private equity and other
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 3 | Private equity and other | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Recurring | Level 3 | Equity securities
Assets
Nuclear decommissioning trusts	0	0
Other investments	0	0
Recurring | Level 3 | Equity securities | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Other investments	0	0
Recurring | Level 3 | Fixed income securities
Assets
Nuclear decommissioning trusts	0	0
Other investments	0	0
Recurring | Level 3 | Fixed income securities | DTE Electric
Assets
Nuclear decommissioning trusts	0	0
Recurring | Other
Derivative assets
Total assets	34	20
Derivative liabilities
Net Assets (Liabilities) at end of period	34	20
Recurring | Other | DTE Electric
Derivative assets
Total assets	34	20
Recurring | Other | Noncurrent assets
Derivative assets
Total assets	34	20
Recurring | Other | Noncurrent assets | DTE Electric
Derivative assets
Total assets	34	20
Recurring | Other | Private equity and other
Assets
Nuclear decommissioning trusts	34	20
Recurring | Other | Private equity and other | DTE Electric
Assets
Nuclear decommissioning trusts	$ 34	$ 20