DTE Energy
36 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.
Customers
Data centers
earns fromnamed as a riskAmong others, these projects include construction and operation of energy facilities and storage capacity to serve one or more data centers in the Registrants' service territory.Risk factors (Item 1A)
Also named by AESI, AGX, BKR, BSM, CBRE, CEG, CMI, CNP and 26 more
DTE Vantage customer concentration
concentrated innamed as a riskDTE Vantage's operations are dependent upon a limited number of customers, and the loss of any one or a few customers could have a material adverse effect on the results of DTE Vantage.Business (Item 1)
Suppliers
NEXUS Pipeline
depends on · 75The primary long-term transportation supply contracts at December 31, 2025 are listed below.Business (Item 1)
Also named by DTM
ANR Pipeline Company
depends on · 174The primary long-term transportation supply contracts at December 31, 2025 are listed below.Business (Item 1)
Panhandle Eastern Pipeline Company
depends on · 80The primary long-term transportation supply contracts at December 31, 2025 are listed below.Business (Item 1)
Great Lakes Gas Transmission L.P.
depends on · 33The primary long-term transportation supply contracts at December 31, 2025 are listed below.Business (Item 1)
ITC Transmission
depends onThese interconnections are generally owned and operated by ITC Transmission, an unrelated company, and connect to neighboring energy companies.Business (Item 1)
Partners and platforms
Other companies
Fermi 2 nuclear plant
operates in · 1,141named as a riskOwnership of an operating nuclear generating plant subjects the Registrants to significant additional risks.Risk factors (Item 1A)
Places
Michigan
concentrated in · approximately 1.4 million customersDTE Gas is a public utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas to approximately 1.4 million customers throughout Michigan and the sale of storage and transportation capacity.Business (Item 1)
Southeastern Michigan
concentrated in · approximately 2.3 million customersDTE Electric is a public utility engaged in the generation, purchase, distribution, and sale of electricity to approximately 2.3 million customers in southeastern Michigan.Business (Item 1)
Monroe Power Plant
concentrated in · 36% of DTE Electric’s total 2025 power plant generationThe Monroe generating plant provided 36% of DTE Electric’s total 2025 power plant generation.Business (Item 1)
Ludington Pumped Storage Plant
operates in · 49% interestRepresents DTE Electric’s 49% interest in Ludington with a total capability of 2,290 MW.Business (Item 1)
Hazards
Severe weather (windstorms, ice storms, floods, tornadoes)
operates innamed as a riskAt DTE Electric, high winds, floods, tornadoes, or ice storms can damage the electric distribution system infrastructure and power generation facilities and require it to perform emergency repairs and incur material unplanned expenses.Risk factors (Item 1A)
Commodities and inputs
Natural gas
exposed to its price · approximately 89 Bcfnamed as a riskDTE Energy's access to natural gas supplies is critical to ensure reliability of service for utility gas customers.Risk factors (Item 1A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Coal
depends on · approximately 6.9 million tons of low-sulfur western coal and approximately 1.3 million tons of Appalachian coalnamed as a riskDTE Electric's generating capability is largely dependent upon the availability of coal and natural gas.Business (Item 1)
Also named by AA, AEE, AEP, AES, ARLP, BKH, BRK/B, CNP and 19 more
Metallurgical coke
earns from · 1 million tons per yearDTE Vantage produces metallurgical coke from a coke battery with a capacity of 1 million tons per year and has an investment in a second coke battery with a capacity of 1.2 million tons per year.Business (Item 1)
Copper
depends onnamed as a riskThe Registrants are dependent on supplies of certain commodities, such as copper and limestone, among others, and industrial materials, and services in order to maintain day-to-day operations and maintenance of their facilities.Risk factors (Item 1A)
Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more
Canadian dollar
exposed to its pricenamed as a riskThese 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.Market risk (Item 7A)
Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more
Uranium
depends onnamed as a riskThe Registrants are dependent on natural gas and coal for much of their electrical generating capacity as well as uranium for their nuclear operations.Risk factors (Item 1A)
Also named by AEE, AEP, CEG, DUK, ETR, EVRG, LEU, PNW and 2 more
Limestone
depends onnamed as a riskThe Registrants are dependent on supplies of certain commodities, such as copper and limestone, among others, and industrial materials, and services in order to maintain day-to-day operations and maintenance of their facilities.Risk factors (Item 1A)
Environmental attributes (RINs/LCFS credits)
exposed to its pricenamed as a riskThe price of environmental attributes generated by DTE Energy's renewable natural gas investments, including those related to the federal Renewable Fuel Standard and California's Low Carbon Fuel Standard, may also impact the market and financial results for DTE Energy's non-utility businesses.Risk factors (Item 1A)
Regulators
Federal Energy Regulatory Commission (FERC)
subject tonamed as a riskElectric and gas rates for the utilities are set by the MPSC and the FERC and cannot be changed without regulatory authorization.Risk factors (Item 1A)
Also named by AA, AEE, AEP, AM, AMRC, AR, ARES, ATO and 62 more
Nuclear Regulatory Commission (NRC)
subject tonamed as a riskThe NRC has regulatory jurisdiction over all phases of the operation, construction, licensing, and decommissioning of DTE Electric's nuclear plant operations.Business (Item 1)
Also named by AEE, AEP, BRK/B, BWXT, CAH, CDRE, CEG, CW and 20 more
Michigan Public Service Commission (MPSC)
subject tonamed as a riskThe Registrants cannot predict what rates the MPSC will authorize in future rate cases, and unfavorable rate relief could impact our plans for significant capital investment.Risk factors (Item 1A)
Also named by WEC
Laws and programs
Michigan electric retail access program
subject to · approximately 10% of retail salesnamed as a riskChanges to Michigan's electric retail access program could negatively impact the Registrants' financial performance.Risk factors (Item 1A)
Michigan Clean Energy Standard
subject to · 100% clean energy portfolio standard by 2040named as a riskAdditionally, as a result of legislation passed by the state of Michigan in the fourth quarter 2023, DTE Electric will be required to meet a 100% clean energy portfolio standard by 2040.Business (Item 1)
Coal combustion residuals and effluent limitations guidelines
subject to · 424named as a riskThe Registrants are subject to extensive environmental regulation and expect to continue recovering environmental costs related to utility operations through rates charged to customers.Business (Item 1)
Import tariffs
subject tonamed as a riskIn addition, import tariffs and other trade policies have the potential to disrupt global supply chains and could cause volatility in the availability and cost of materials and supplies for us and our customers.Risk factors (Item 1A)
Also named by AOS, APLD, BJ, BMI, CAVA, CVLG, CVS, DKS and 18 more
Renewable Fuel Standard (RFS)
depends onnamed as a riskDTE Energy's non-utility renewable natural gas investments are also dependent on the federal Renewable Fuel Standard and California's Low Carbon Fuel Standard.Risk factors (Item 1A)
Also named by ADM, AMRC, CF, CLMT, CVX, DAL, DINO, ET and 13 more
California Low Carbon Fuel Standard (LCFS)
depends onnamed as a riskChanges to these standards may affect DTE Energy's business and result in lower earnings.Risk factors (Item 1A)
Also named by CRC, CVX, DINO, GPRE, MPC, PBF, SEB, UGI and 2 more
Michigan energy waste reduction requirements
subject tonamed as a riskThese requirements necessitate expenditures, and implementation of these programs creates the risk of reducing the Registrants' revenues as customers decrease their energy usage.Risk factors (Item 1A)
Federal renewable energy tax credits (Internal Revenue Code)
depends onnamed as a riskIf the Registrants' tax credits were disallowed in whole or in part as a result of an IRS audit or changes in tax law, there could be additional tax liabilities owed for previously recognized tax credits that could significantly impact the Registrants' earnings and cash flows.Risk factors (Item 1A)
Energy assistance programs (federal and State of Michigan)
depends onnamed as a riskEnergy assistance programs, funded by the federal government and the State of Michigan, remain critical to DTE Electric’s ability to control its uncollectible accounts receivable and collections expenses.Business (Item 1)
Power Supply Cost Recovery (PSCR) and Gas Cost Recovery (GCR) mechanisms
subject toHowever, the Registrants do not bear significant exposure to earnings risk, as such changes are included in the PSCR and GCR regulatory rate-recovery mechanisms.Market risk (Item 7A)