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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
DTE Energy's long-term debt outstanding and interest rates of debt outstanding at December 31 were:
Interest Rate(a)
Maturity Date20232022
(In millions)
Mortgage bonds, notes, and other
DTE Energy debt, unsecured3.3%2024 — 2030$5,105 $5,105 
DTE Electric debt, principally secured3.8%2024 — 205310,370 9,572 
DTE Gas debt, principally secured4.2%2025 — 20522,545 2,325 
18,020 17,002 
Unamortized debt discount(26)(26)
Unamortized debt issuance costs(100)(92)
Long-term debt due within one year(2,075)(1,077)
$15,819 $15,807 
Securitization bonds(b)
DTE Electric securitization bonds5.3%2027 — 2038$777 $215 
Unamortized debt issuance costs(8)(4)
Long-term debt due within one year(64)(39)
$705 $172 
Junior Subordinated Debentures
Subordinated debentures4.8%2077 — 2081$910 $910 
Unamortized debt issuance costs(27)(27)
$883 $883 
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(a)Weighted average interest rate as of December 31, 2023.
(b)Bonds are held by DTE Securitization I and DTE Securitization II, special purpose entities consolidated by DTE Electric. Refer to Note 1 to the Consolidated Financial Statements, “Organization and Basis of Presentation,” for additional information regarding these entities and restrictions related to the bonds.
DTE Electric's long-term debt outstanding and interest rates of debt outstanding at December 31 were:
Interest Rate(a)
Maturity Date20232022
(In millions)
Mortgage bonds, notes, and other
Long-term debt, principally secured3.8%2024 — 2053$10,370 $9,572 
Unamortized debt discount(23)(22)
Unamortized debt issuance costs(73)(65)
Long-term debt due within one year(100)(203)
$10,174 $9,282 
Securitization bonds(b)
DTE Electric securitization bonds5.3%2027 — 2038$777 $215 
Unamortized debt issuance costs(8)(4)
Long-term debt due within one year(64)(39)
$705 $172 
_______________________________________
(a)Weighted average interest rate as of December 31, 2023.
(b)Bonds are held by DTE Securitization I and DTE Securitization II, special purpose entities consolidated by DTE Electric. Refer to Note 1 to the Consolidated Financial Statements, “Organization and Basis of Presentation,” for additional information regarding these entities and restrictions related to the bonds.
Schedule of Debt Issued
Refer to the table below for debt issued in 2023:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE ElectricMarch
Mortgage bonds(a)
5.20%2033$600 
DTE ElectricMarch
Mortgage bonds(a)
5.40%2053600 
DTE EnergyMarch
Term loan facility draw(b)
Variable2023200 
DTE EnergyMay
Senior notes(c)
4.875%2028800 
DTE ElectricJune
Tax-exempt revenue bonds(d)
3.875%2053100 
DTE GasOctober
Mortgage bonds(a)
5.57%2030150 
DTE GasOctober
Mortgage bonds(a)
5.73%2035145 
DTE ElectricNovember
Securitization bonds(e)
5.97%
2033(f)
301 
DTE ElectricNovember
Securitization bonds(e)
6.09%
2038(g)
301 
$3,197 
_______________________________________
(a)Proceeds used for the repayment of short-term borrowings, for capital expenditures, and for other general corporate purposes.
(b)Proceeds used for general corporate purposes.
(c)Proceeds used for the repayment of amounts outstanding under the term loan facility.
(d)Tax-exempt revenue bonds are issued by a public body that loans the proceeds to DTE Electric with terms substantially mirroring the revenue bonds. Proceeds were used to finance costs relating to solid waste disposal facilities at the Monroe and St. Clair power plants. The bonds will be subject to mandatory tender in June 2030.
(e)Bonds were issued in alignment with Green Bond principles to support the closure and recovery of St. Clair and Trenton Channel generation plants and DTE Electric's transition to cleaner energy. Proceeds were used to reimburse DTE Electric for qualified costs incurred or the net book value of the St. Clair and Trenton Channel plants and other qualified costs. The securitization financing order from the MPSC required that the net proceeds be subsequently applied by DTE Electric to retire existing debt or equity. Accordingly, DTE Electric used net proceeds of $297 million towards the partial retirement of the 2013 Series B Mortgage bonds noted in the Debt Redemptions table below and issued a special dividend of $297 million to DTE Energy. Refer to Note 9 to the Consolidated Financial Statements, "Regulatory Matters," for additional information.
(f)Principal payments on the bonds will be made semi-annually beginning September 2024, with the final payment scheduled for March 2032.
(g)Principal payments on the bonds will be made semi-annually beginning March 2032, with the final payment scheduled for September 2037.
Schedule of Debt Redeemed
Refer to the table below for debt redeemed in 2023:
CompanyMonthTypeInterest RateMaturity DateAmount
(In millions)
DTE GasAprilSenior notes6.44%2023$25 
DTE EnergyMayTerm loan facilityVariable2023800
DTE ElectricJuneSecuritization bonds2.64%202319
DTE EnergyJuneTerm loan facilityVariable2023200
DTE ElectricSeptemberMortgage bonds4.31%2023102
DTE ElectricOctoberSenior notes5.19%2023100
DTE ElectricDecemberSecuritization bonds2.64%202320
DTE GasDecemberMortgage bonds3.64%202350
DTE ElectricDecember
Mortgage bonds(a)
3.65%2024300
$1,616 
_______________________________________
(a)Represents a partial redemption with $100 million remaining principal to be redeemed in 2024.
Schedule of Maturities of Long-term Debt
The following table shows the Registrants' scheduled debt maturities, excluding any unamortized discount on debt:
202420252026202720282029 and ThereafterTotal
(In millions)
DTE Energy(a)(b)
$2,139 $1,292 $851 $230 $1,737 $13,458 $19,707 
DTE Electric(b)
$164 $422 $251 $39 $617 $9,654 $11,147 
_______________________________________
(a)Amounts include DTE Electric's scheduled debt maturities.
(b)Amounts include DTE Securitization I and DTE Securitization II scheduled debt maturities.
Scheduled Interest Payments Related to Long-term Debt
The following table shows scheduled interest payments related to the Registrants' long-term debt:
202420252026202720282029 and ThereafterTotal
(In millions)
DTE Energy(a)(b)
$749 $668 $651 $623 $589 $8,412 $11,692 
DTE Electric(b)
$432 $427 $416 $408 $400 $5,150 $7,233 
_______________________________________
(a)Amounts include DTE Electric's scheduled interest payments.
(b)Amounts include DTE Securitization I and DTE Securitization II scheduled interest payments.