Related Party Transactions

12 Months Ended

Dec. 31, 2022

RELATED PARTY TRANSACTIONS

DTE Electric has agreements with affiliated companies to buy and sell power, and for the purchase and transportation of fuel for use at its natural gas-fired combined cycle plant and other generation facilities. DTE Electric also has agreements with certain DTE Energy affiliates where it charges the affiliates for their use of the shared capital assets of DTE Electric. Various other corporate support expenses are accumulated by a shared services company and charged to various subsidiaries of DTE Energy, including DTE Electric.

The following is a summary of DTE Electric's transactions with affiliated companies:


	2022		2021		2020
	(In millions)
Revenues and Other Income
Energy sales	$	8	$	9	$	8
Other services and interest	$	—	$	2	$	2
Shared capital assets	$	57	$	49	$	47
Costs
Fuel and purchased power	$	58	$	13	$	16
Other services and interest	$	1	$	—	$	1
Corporate expenses	$	379	$	391	$	367
Other
Dividends declared	$	763	$	588	$	539
Dividends paid	$	763	$	588	$	539
Capital contribution from DTE Energy	$	600	$	555	$	636

DTE Electric's Accounts receivable and Accounts payable related to Affiliates are payable upon demand and are generally settled in cash within a monthly business cycle. Notes receivable and Short-term borrowings related to Affiliates are subject to a credit agreement with DTE Energy whereby short-term excess cash or cash shortfalls are remitted to or funded by DTE Energy. This credit arrangement involves the charge and payment of interest based on monthly commercial paper rates. The weighted average interest rate for DTE Electric's affiliate borrowings was 4.4% and 0.2% at December 31, 2022 and 2021, respectively. Refer to DTE Electric's Consolidated Statements of Financial Position for affiliate balances at December 31, 2022 and 2021.

DTE Electric made charitable contributions to the DTE Energy Foundation of $2 million and $20 million for the years ended 2021 and 2020, respectively. There were no contributions for the year ended December 31, 2022. The DTE Energy Foundation is a non-consolidated not-for-profit private foundation, the purpose of which is to contribute to and assist charitable organizations.

DTE Electric records federal, state, and local income taxes payable to or receivable from DTE Energy based on its federal, state, and local tax provisions. Refer to Note 10 to the Consolidated Financial Statements, "Income Taxes," for additional information. For a discussion of other related party transactions impacting DTE Electric, see Notes 20 and 21 to the Consolidated Financial Statements, "Retirement Benefits and Trusteed Assets" and "Stock-Based Compensation," respectively.