Total Revenue (Q1 2024 vs Q1 2023)

Decrease of $539 million (from $3,779 million to $3,240 million) "

The overall decline was driven primarily by a $635 million drop in Energy Trading revenue due to lower gas prices, settled financial hedges, and a swing from unrealized MTM losses, partially offset by increases in Electric (up $91 million) and a slight gain in Gas revenue " " "

Total Revenue (Q1 2025 vs Q1 2024)

Increase of $1,200 million (from $3,240 million to $4,440 million) "

The growth was achieved with a $151 million rise in utility operations revenue—fueled by higher gas sales and new rates—and a substantial $1,049 million jump in non-utility operations, largely reflecting a reversal in Energy Trading performance from the prior period " " "

Electric Revenue (Q1 2024 vs Q1 2023)

Increase of $91 million (from $1,379 million to $1,470 million) "

Increased sales volumes in the residential and commercial segments drove the rise, despite slight declines in industrial and other subsegments, resulting in higher overall operating revenues " "

Electric Revenue (Q1 2025 vs Q1 2024)

Decrease of $11 million "

The decline resulted from regulatory impacts including a $124 million reduction due to solar investment tax credits and lower base sales, which were partly offset by increases from rate mix adjustments, the implementation of new rates, favorable weather, and interconnection sales "

Gas Revenue (Q1 2024 vs Q1 2023)

Increase of $4 million (from $707 million to $711 million) "

Higher infrastructure recovery ($9 million) and gas cost recovery ($7 million) contributed to the modest net increase, although these were partially offset by declines in base sales (-$3 million) and adverse weather (-$6 million) "

Gas Revenue (Q1 2025 vs Q1 2024)

Increase of $165 million "

A $69 million boost from gas cost recovery, along with favorable winter weather adding $52 million and new rates contributing $45 million, drove a significant gain, despite an $18 million reduction due to the infrastructure recovery mechanism "

DTE Vantage Revenue (Q1 2024 vs Q1 2023)

No Change (remained at $184 million) "

Shifts within the segment—such as a $4 million increase in renewables, a $1 million decrease in steel, and a $3 million drop from on-site sales—netted to an overall unchanged revenue profile "

DTE Vantage Revenue (Q1 2025 vs Q1 2024)

Increase of $4 million "

Growth in the renewables business (+$29 million) and higher on-site prices (+$4 million) were largely offset by lower demand and prices in the steel business (-$33 million), resulting in a modest net gain "

Energy Trading Revenue (Q1 2024 vs Q1 2023)

Decrease of $635 million (from $1,568 million to $933 million) "

A significant drop occurred as lower gas prices led to a $353 million loss along with $60 million from settled hedges, and an increase in unrealized MTM losses by $147 million compounded the decline, while other realized losses further impacted results "

Energy Trading Revenue (Q1 2025 vs Q1 2024)

Increase of $1,093 million "

A robust recovery was driven by realized gas structured and transportation strategies adding $740 million, a turnaround with $263 million in unrealized MTM gains, and an additional $90 million from other realized gains reversing prior period losses "

Corporate and Other Revenue (Q1 2024 vs Q1 2023)

Change of -$29 million (net income shifted from $8 million to a net loss of $21 million) " " "

The swing was primarily due to effective income tax rate adjustments, increased net interest expense, higher state income taxes, and equity investment losses that turned previous net income into a net loss " " "

Corporate and Other Revenue (Q1 2025 vs Q1 2024)

Improvement of $31 million (from a net loss of $21 million to net income of $10 million) " " "

The turnaround was largely due to favorable timing of income tax adjustments, though higher interest expense and elevated federal and state taxes somewhat moderated the improvement " " "