Document_Entity_Information_Do
Document Entity Information Document | 9 Months Ended |
Sep. 30, 2013 | |
Entity Registrant Name | DTE ELECTRIC CO |
Entity Central Index Key | 28385 |
Current Fiscal Year End Date | -21 |
Entity Filer Category | Non-accelerated Filer |
Document Type | 10-Q |
Document Period End Date | 30-Sep-13 |
Document Fiscal Year Focus | 2013 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | FALSE |
Entity Common Stock, Shares Outstanding | 138,632,324 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Revenues | $1,457 | $1,542 | $3,941 | $4,029 |
Operating Expenses | ||||
Fuel, purchased power and gas | 487 | 543 | 1,294 | 1,348 |
Operation and maintenance | 335 | 337 | 1,009 | 1,026 |
Depreciation, depletion and amortization | 233 | 219 | 666 | 607 |
Taxes other than income | 67 | 65 | 200 | 193 |
Asset (gains) losses and reserves, net | -3 | 0 | -3 | -1 |
Total operating expenses | 1,119 | 1,164 | 3,166 | 3,173 |
Operating Income | 338 | 378 | 775 | 856 |
Other (Income) and Deductions | ||||
Interest expense | 68 | 70 | 202 | 204 |
Other income | -14 | -14 | -38 | -41 |
Other expenses | 7 | 12 | 19 | 27 |
Total Other (Income) and Deductions | 61 | 68 | 183 | 190 |
Income Before Income Taxes | 277 | 310 | 592 | 666 |
Income Tax Expense | 97 | 115 | 206 | 247 |
Net Income | $180 | $195 | $386 | $419 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income | $180 | $195 | $386 | $419 |
Other comprehensive income (loss), net of tax: | ||||
Benefit Obligations Net Of Tax | -1 | 0 | 2 | -2 |
Comprehensive income | $181 | $195 | $388 | $421 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parentheticals) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Tax effect on benefit obligations | $0 | $0 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities | ||
Net Income | $386 | $419 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation, depletion and amortization | 666 | 607 |
Nuclear fuel amortization | 25 | 25 |
Allowance for equity funds used during construction | -10 | -9 |
Deferred income taxes | 104 | -48 |
Asset (gains), losses and reserves, net | -3 | -1 |
Changes in assets and liabilities: | ||
Accounts receivable, net | -40 | -13 |
Inventories | 53 | 4 |
Accounts payable | 15 | -55 |
Regulatory assets and liabilities | 302 | 280 |
Accrued pension liability — affiliates | -229 | -43 |
Accrued postretirement liability — affiliates | -148 | -91 |
Other assets | -42 | -24 |
Other liabilities | -15 | 171 |
Net cash from operating activities | 1,064 | 1,222 |
Investing Activities | ||
Plant and equipment expenditures | -946 | -855 |
Restricted cash for debt redemption, principally Securitization | 58 | 57 |
Notes receivable from affiliate | -4 | -252 |
Proceeds from sale of nuclear decommissioning trust fund assets | 40 | 48 |
Investments in nuclear decommissioning trust funds | -52 | -61 |
Other Investments | 21 | 13 |
Net cash used for investing activities | -925 | -1,076 |
Financing Activities | ||
Issuance of long-term debt | 768 | 496 |
Redemption of long-term debt | -491 | -401 |
Short-term borrowings - other | -119 | 0 |
Proceeds from (Repayments of) Short-term Debt, Affiliate | -25 | 1 |
Dividends on common stock | -257 | -229 |
Other | -2 | -3 |
Net cash used for financing activities | -126 | -136 |
Net Increase (Decrease) in Cash and Cash Equivalents | 13 | 10 |
Cash and Cash Equivalents at Beginning of Period | 30 | 13 |
Cash and Cash Equivalents at End of Period | $43 | $23 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Position (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ||
Cash and cash equivalents | $43 | $30 |
Restricted cash, principally Securitization | 44 | 102 |
Accounts receivable (less allowance for doubtful accounts of $xx and $35, respectively) | ||
Customer | 766 | 697 |
Affiliates | 1 | 5 |
Other | 19 | 63 |
Inventories | ||
Fuel | 178 | 246 |
Materials and supplies | 207 | 193 |
Notes receivable | 2 | 2 |
Regulatory assets | 42 | 162 |
Prepaid property taxes | 89 | 43 |
Other | 29 | 34 |
Total Current Assets | 1,420 | 1,577 |
Investments | ||
Nuclear decommissioning trust funds | 1,139 | 1,037 |
Other | 148 | 133 |
Total Investments | 1,287 | 1,170 |
Property | ||
Property, plant and equipment | 18,479 | 17,689 |
Less accumulated depreciation and amortization | -6,971 | -6,717 |
Property, plant and equipment, net | 11,508 | 10,972 |
Other Assets | ||
Regulatory assets | 2,919 | 3,348 |
Securitized regulatory assets | 280 | 413 |
Intangible assets | 37 | 30 |
Notes receivable | 6 | 3 |
Other | 145 | 138 |
Total Noncurrent Assets | 3,387 | 3,932 |
Total Assets | 17,602 | 17,651 |
Accounts payable | ||
Affiliates | 89 | 65 |
Other | 352 | 350 |
Accrued interest | 69 | 61 |
Current portion long-term debt, including capital leases | 501 | 443 |
Regulatory liabilities | 192 | 66 |
Short-term borrowings | ||
Affiliates | 55 | 80 |
Other | 11 | 130 |
Other | 180 | 153 |
Total Current Liabilities | 1,449 | 1,348 |
Long-Term Debt (net of current portion) | ||
Mortgage bonds, notes and other | 4,639 | 4,221 |
Securitization bonds | 105 | 302 |
Capital lease obligations | 1 | 1 |
Total Long-Term Debt (net of current portion) | 4,745 | 4,524 |
Other Liabilities | ||
Deferred income taxes | 2,832 | 2,761 |
Regulatory liabilities | 408 | 483 |
Asset retirement obligations | 1,640 | 1,557 |
Unamortized investment tax credit | 43 | 49 |
Nuclear decommissioning | 172 | 159 |
Accrued pension liability — affiliates | 1,138 | 1,368 |
Accrued postretirement liability — affiliates | 638 | 996 |
Other | 103 | 103 |
Total Noncurrent Liabilities | 6,974 | 7,476 |
Shareholder’s Equity | ||
Common stock, $10 par value, 400,000,000 shares authorized, and 138,632,324 shares issued and outstanding | 3,196 | 3,196 |
Retained earnings | 1,258 | 1,129 |
Accumulated other comprehensive loss | -20 | -22 |
Total Shareholder's Equity | 4,434 | 4,303 |
Total Liabilities and Shareholder's Equity | $17,602 | $17,651 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Position (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Assets, Current [Abstract] | ||
Allowance for Doubtful Accounts Receivable | $35 | $35 |
Statement of Stockholders' Equity [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $10 | $10 |
Common Stock, Shares Authorized | 400,000,000 | 400,000,000 |
Common Stock, Shares, Issued | 138,632,324 | 138,632,324 |
Common Stock, Shares, Outstanding | 138,632,324 | 138,632,324 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Defined Benefit Plans Adjustment [Member] |
In Millions, except Share data | ||||||
Beginning Balance at Dec. 31, 2012 | $4,303 | $1,386 | $1,810 | $1,129 | ($22) | |
Beginning Balance, shares at Dec. 31, 2012 | 138,632,324 | 138,632,000 | ||||
Net Income | 386 | 386 | ||||
Dividends declared on common stock | -257 | -257 | ||||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 2 | 2 | ||||
Ending Balance at Sep. 30, 2013 | $4,434 | $1,386 | $1,810 | $1,258 | ($20) | |
Ending Balance, shares at Sep. 30, 2013 | 138,632,324 | 138,632,000 |
Basis_of_Presentation_Notes
Basis of Presentation (Notes) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | BASIS OF PRESENTATION | |||||||
Corporate Structure | ||||||||
DTE Electric is an electric utility engaged in the generation, purchase, distribution and sale of electricity to approximately 2.1 million customers in southeastern Michigan. DTE Electric is regulated by the MPSC and the FERC. In addition, we are regulated by other federal and state regulatory agencies including the NRC, the EPA and the MDEQ. | ||||||||
References in this report to “we,” “us,” “our” or “Company” are to DTE Electric and its subsidiaries, collectively. | ||||||||
Basis of Presentation | ||||||||
These Consolidated Financial Statements should be read in conjunction with the Notes to Consolidated Financial Statements included in the 2012 Annual Report on Form 10-K. | ||||||||
The accompanying Consolidated Financial Statements 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 Company’s estimates. | ||||||||
The Consolidated Financial Statements are unaudited, but in the Company's opinion 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 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, 2013. | ||||||||
Certain prior year balances were reclassified to match the current year's financial statement presentation. | ||||||||
Principles of Consolidation | ||||||||
The Company consolidates all majority-owned subsidiaries and investments in entities in which it has controlling influence. Non-majority owned investments are accounted for using the equity method when the Company is able to influence the operating policies of the investee. When the Company does not influence the operating policies of an investee, the cost method is used. These consolidated financial statements also reflect the Company’s proportionate interests in certain jointly owned utility plants. The Company eliminates all intercompany balances and transactions. | ||||||||
The Company evaluates whether an entity is a VIE whenever reconsideration events occur. The Company consolidates VIEs for which it is the primary beneficiary. If the Company 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, the Company 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 Company performs ongoing reassessments of all VIEs to determine if the primary beneficiary status has changed. | ||||||||
The Company has variable interests in VIEs through certain of its long-term purchase contracts. As of September 30, 2013, the carrying amount of assets and liabilities in the Consolidated Statements of Financial Position that relate to its variable interests under long-term purchase contracts are predominately related to working capital accounts and generally represent the amounts owed by the Company for the deliveries associated with the current billing cycle under the contracts. The Company has not provided any form of financial support associated with these long-term contracts. There is no significant potential exposure to loss as a result of its variable interests through these long-term purchase contracts. | ||||||||
In 2001, DTE Electric financed a regulatory asset related to Fermi 2 and certain other regulatory assets through the sale of rate reduction bonds by a wholly-owned special purpose entity, Securitization. DTE Electric performs servicing activities including billing and collecting surcharge revenue for Securitization. This entity is a VIE and is consolidated by the Company. The maximum risk exposure related to Securitization is reflected on the Company’s Consolidated Statements of Financial Position. | ||||||||
The following table summarizes the major balance sheet items as of September 30, 2013 and December 31, 2012 restricted for Securitization that are either (1) assets that can be used only to settle obligations related to the Securitization or (2) liabilities for which creditors do not have recourse to the general credit of the primary beneficiary. | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In millions) | ||||||||
ASSETS | ||||||||
Restricted cash | $ | 44 | $ | 102 | ||||
Accounts receivable | 39 | 34 | ||||||
Securitized regulatory assets | 280 | 413 | ||||||
Other assets | 5 | 7 | ||||||
$ | 368 | $ | 556 | |||||
LIABILITIES | ||||||||
Accounts payable and accrued current liabilities | $ | 2 | $ | 11 | ||||
Current portion long-term debt, including capital leases | 196 | 177 | ||||||
Current regulatory liabilities | 48 | 50 | ||||||
Securitization bonds | 105 | 302 | ||||||
Other long-term liabilities | 8 | 7 | ||||||
$ | 359 | $ | 547 | |||||
As of September 30, 2013 DTE Electric had no balance in Notes receivable, related to non-consolidated VIEs and at December 31, 2012 the Company had $3 million in Notes receivable, related to non-consolidated VIEs. |
Significant_Accounting_Policie
Significant Accounting Policies (Note) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Accounting Policies [Abstract] | ||||||||
Significant Accounting Policies [Text Block] | SIGNIFICANT ACCOUNTING POLICIES | |||||||
Comprehensive Income | ||||||||
Comprehensive income is the change in common shareholder’s equity during a period from transactions and events from non-owner sources, including net income. As shown in the following tables, amounts recorded to accumulated other comprehensive loss for the three and nine months ended September 30, 2013 reflected changes in benefit obligations. | ||||||||
Changes in Accumulated Other Comprehensive Loss by Component (a) | ||||||||
Three Months Ended September 30, 2013 | ||||||||
Benefit Obligations (b) | Total | |||||||
(In millions) | ||||||||
Beginning balance, June 30, 2013 | $ | (21 | ) | $ | (21 | ) | ||
Other comprehensive income before reclassifications | — | — | ||||||
Amounts reclassified from accumulated other comprehensive income | 1 | 1 | ||||||
Net current-period other comprehensive income | 1 | 1 | ||||||
Ending balance, September 30, 2013 | $ | (20 | ) | $ | (20 | ) | ||
Changes in Accumulated Other Comprehensive Loss by Component (a) | ||||||||
Nine Months Ended September 30, 2013 | ||||||||
Benefit Obligations (b) | Total | |||||||
(In millions) | ||||||||
Beginning balance, December 31, 2012 | $ | (22 | ) | $ | (22 | ) | ||
Other comprehensive income before reclassifications | — | — | ||||||
Amounts reclassified from accumulated other comprehensive income | 2 | 2 | ||||||
Net current-period other comprehensive income | 2 | 2 | ||||||
Ending balance, September 30, 2013 | $ | (20 | ) | $ | (20 | ) | ||
_______________________________________ | ||||||||
(a) All amounts are net of tax. | ||||||||
(b) The amounts reclassified from accumulated other comprehensive income are included in the computation of the net periodic pension cost (see Retirement Benefits and Trusteed Assets Note 10). | ||||||||
Intangible Assets | ||||||||
The Company has certain intangible assets relating to emission allowances and renewable energy credits as shown below: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In millions) | ||||||||
Emission allowances | $ | 3 | $ | 6 | ||||
Renewable energy credits | 48 | 44 | ||||||
51 | 50 | |||||||
Less current intangible assets | 14 | 20 | ||||||
$ | 37 | $ | 30 | |||||
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. | ||||||||
Income Taxes | ||||||||
The Company's effective tax rate from continuing operations for the three months ended September 30, 2013 was 35 percent as compared to 37 percent for the three months ended September 30, 2012. The Company's effective tax rate from continuing operations for the nine months ended September 30, 2013 was 35 percent as compared to 37 percent for the nine months ended September 30, 2012. The decrease in the effective tax rate in 2013 is due primarily to higher production tax credits. DTE Electric had an income tax payable of $34 million at September 30, 2013 and $13 million at December 31, 2012 due to DTE Energy. | ||||||||
The Company had $3 million of unrecognized tax benefits at September 30, 2013, that, if recognized, would favorably impact its effective tax rate. The Company does not anticipate any material changes to the unrecognized tax benefits in the next twelve months. | ||||||||
Stock-Based Compensation | ||||||||
The Company received an allocation of costs from DTE Energy associated with stock-based compensation of $10 million and $12 million for the three months ended September 30, 2013 and September 30, 2012, respectively, while such allocation was $43 million and $32 million for the nine months ended September 30, 2013 and September 30, 2012, respectively. |
Fair_Value_Notes
Fair Value (Notes) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
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 Company makes certain assumptions it believes 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 Company and its 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, 2013 and December 31, 2012. The Company believes it uses 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 Company classifies 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 Company has 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 measured and recorded at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Net Balance | Level 1 | Level 2 | Level 3 | Net Balance | |||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Cash equivalents (a) | $ | — | $ | 61 | $ | — | $ | 61 | $ | — | $ | 116 | $ | — | $ | 116 | ||||||||||||||||
Nuclear decommissioning trusts | 757 | 382 | — | 1,139 | 694 | 343 | — | 1,037 | ||||||||||||||||||||||||
Other investments (b) | 74 | 48 | — | 122 | 64 | 44 | — | 108 | ||||||||||||||||||||||||
Derivative assets — FTRs | — | — | 5 | 5 | — | — | 1 | 1 | ||||||||||||||||||||||||
Total | $ | 831 | $ | 491 | $ | 5 | $ | 1,327 | $ | 758 | $ | 503 | $ | 1 | $ | 1,262 | ||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Current | $ | — | $ | 61 | $ | 5 | $ | 66 | $ | — | $ | 116 | $ | 1 | $ | 117 | ||||||||||||||||
Noncurrent | 831 | 430 | — | 1,261 | 758 | 387 | — | 1,145 | ||||||||||||||||||||||||
Total Assets | $ | 831 | $ | 491 | $ | 5 | $ | 1,327 | $ | 758 | $ | 503 | $ | 1 | $ | 1,262 | ||||||||||||||||
_______________________________________ | ||||||||||||||||||||||||||||||||
(a) | At September 30, 2013, available-for-sale securities of $61 million, included $44 million and $17 million of cash equivalents included in Restricted cash and Other investments, respectively, on the Consolidated Statements of Financial Position. At December 31, 2012, available-for-sale securities of $116 million, included $102 million and $14 million of cash equivalents included in Restricted cash and Other investments, respectively, on the Consolidated Statements of Financial Position. | |||||||||||||||||||||||||||||||
(b) | Available-for-sale equity securities at September 30, 2013 and December 31, 2012 of $6 million and $5 million, respectively, are included in Other investments on the 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. The fair values of the shares in these investments are based upon observable market prices for similar securities and, therefore, have been categorized as Level 2 in the fair value hierarchy. | ||||||||||||||||||||||||||||||||
Nuclear Decommissioning Trusts and Other Investments | ||||||||||||||||||||||||||||||||
The nuclear decommissioning trusts and other investments hold debt and equity securities directly and indirectly through institutional mutual funds. Exchange-traded debt and equity securities held directly are valued using quoted market prices in actively traded markets. The institutional mutual funds which hold exchange-traded equity or debt securities are valued based on the underlying securities, using quoted prices in actively traded markets. Non-exchange-traded fixed income securities are valued based upon quotations available from brokers or pricing services. 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 to be preferable. The Company has obtained an understanding of how these prices are derived, including the nature and observability of the inputs used in deriving such prices. Additionally, the Company selectively corroborates the fair value of securities by comparison of market-based price sources. Investment policies and procedures are determined by the Company's Trust Investments Department which reports to the Company's Vice President and Treasurer. | ||||||||||||||||||||||||||||||||
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 Company considers 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 Company monitors 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 Company has obtained an understanding of how these prices are derived. Additionally, the Company selectively corroborates the fair value of its 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 Company has 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 our forward price curves has been assigned to our Risk Management Department, which is separate and distinct from the trading functions within the Company. | ||||||||||||||||||||||||||||||||
The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Net Assets as of beginning of the period | $ | 2 | $ | 2 | $ | 1 | $ | 1 | ||||||||||||||||||||||||
Change in fair value recorded in regulatory assets/liabilities | 3 | 7 | 7 | 12 | ||||||||||||||||||||||||||||
Purchases, issuances and settlements: | ||||||||||||||||||||||||||||||||
Settlements | — | (7 | ) | (3 | ) | (11 | ) | |||||||||||||||||||||||||
Net Assets as of September 30 | $ | 5 | $ | 2 | $ | 5 | $ | 2 | ||||||||||||||||||||||||
The amount of total gains (losses) included in regulatory assets and liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2013 and September 30, 2012 | $ | 3 | $ | 1 | $ | 5 | $ | 2 | ||||||||||||||||||||||||
No transfers between Levels 1, 2 or 3 occurred in the three and nine months ended September 30, 2013 and September 30, 2012. | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
The fair value of financial instruments included in the table below is determined by using quoted market prices when available. When quoted prices are not available, pricing services may be used to determine the fair value with reference to observable interest rate indexes. The Company has obtained an understanding of how the fair values are derived. The Company also selectively corroborates the fair value of its transactions by comparison of market-based price sources. Discounted cash flow analyses based upon estimated current borrowing rates are also used to determine fair value when quoted market prices are not available. The fair values of notes receivable, excluding capital leases, are estimated using discounted cash flow techniques that incorporate market interest rates as well as assumptions about the remaining life of the loans and credit risk. Depending on the information available, other valuation techniques may be used that rely on internal assumptions and models. Valuation policies and procedures are determined by the Company's Treasury Department which reports to the Company's Vice President and Treasurer. | ||||||||||||||||||||||||||||||||
The following table presents the carrying amount and fair value of financial instruments as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | |||||||||||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Amount | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Notes receivable, excluding capital leases | $ | 8 | $ | — | $ | — | $ | 8 | $ | 5 | $ | — | $ | — | $ | 5 | ||||||||||||||||
Short-term borrowings — affiliates | 55 | — | — | 55 | 80 | — | — | 80 | ||||||||||||||||||||||||
Short-term borrowings — other | 11 | — | 11 | — | 130 | — | 130 | — | ||||||||||||||||||||||||
Long-term debt | 5,245 | — | 5,163 | 426 | 4,963 | — | 5,021 | 620 | ||||||||||||||||||||||||
Nuclear Decommissioning Trust Funds | ||||||||||||||||||||||||||||||||
DTE Electric has a legal obligation to decommission its nuclear power plants following the expiration of their operating licenses. This obligation is reflected as an asset retirement obligation on the 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. DTE Electric is continuing to fund FERC jurisdictional amounts for decommissioning even though explicit provisions are not included in FERC rates. | ||||||||||||||||||||||||||||||||
The following table summarizes the fair value of the nuclear decommissioning trust fund assets: | ||||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Fermi 2 | $ | 1,120 | $ | 1,021 | ||||||||||||||||||||||||||||
Fermi 1 | 3 | 3 | ||||||||||||||||||||||||||||||
Low-level radioactive waste | 16 | 13 | ||||||||||||||||||||||||||||||
Total | $ | 1,139 | $ | 1,037 | ||||||||||||||||||||||||||||
The costs of securities sold are determined on the basis of specific identification. The following table sets forth the gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds: | ||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Realized gains | $ | 11 | $ | 7 | $ | 30 | $ | 21 | ||||||||||||||||||||||||
Realized losses | (11 | ) | (6 | ) | (25 | ) | (17 | ) | ||||||||||||||||||||||||
Proceeds from sales of securities | 13 | 12 | 40 | 48 | ||||||||||||||||||||||||||||
Realized gains and losses from the sale of securities for the Fermi 2 and the low-level radioactive waste funds are recorded to the Regulatory asset and Nuclear decommissioning liability. The following table sets forth the fair value and unrealized gains for the nuclear decommissioning trust funds: | ||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||||
Value | Gains | Value | Gains | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Equity securities | $ | 732 | $ | 195 | $ | 631 | $ | 122 | ||||||||||||||||||||||||
Debt securities | 395 | 17 | 399 | 27 | ||||||||||||||||||||||||||||
Cash and cash equivalents | 12 | — | 7 | — | ||||||||||||||||||||||||||||
$ | 1,139 | $ | 212 | $ | 1,037 | $ | 149 | |||||||||||||||||||||||||
The debt securities at both September 30, 2013 and December 31, 2012 had an average maturity of approximately 7 and 6 years, respectively. Securities held in the nuclear decommissioning trust funds are classified as available-for-sale. As DTE Electric does not have the ability to hold impaired investments for a period of time sufficient to allow for the anticipated recovery of market value, all unrealized losses are considered to be other-than-temporary impairments. | ||||||||||||||||||||||||||||||||
Unrealized losses incurred by the Fermi 2 trust are recognized as a Regulatory asset. DTE Electric recognized $38 million and $44 million of unrealized losses as Regulatory assets at September 30, 2013 and December 31, 2012, respectively. Since the decommissioning of Fermi 1 is funded by DTE Electric rather than through a regulatory recovery mechanism, there is no corresponding regulatory asset treatment. Therefore, unrealized losses incurred by the Fermi 1 trust are recognized in earnings immediately. There were no unrealized losses recognized in the three and nine months ended September 30, 2013 and September 30, 2012 for Fermi 1. | ||||||||||||||||||||||||||||||||
Other Securities | ||||||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the securities were comprised primarily of money market and equity securities. During the quarter ended September 30, 2013 and the year ended December 31, 2012 no amounts of unrealized losses on available-for-sale securities were reclassified out of other comprehensive income and realized into net income for the periods. Gains related to trading securities held at September 30, 2013 and September 30, 2012 were $12 million and $9 million, respectively. |
Financial_and_Other_Derivative
Financial and Other Derivative Instruments (Notes) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Derivative Instruments and Hedges, Assets [Abstract] | ||||||||
Financial and Other Derivative Instruments | FINANCIAL AND OTHER DERIVATIVE INSTRUMENTS | |||||||
The Company recognizes all derivatives at their fair value as Derivative Assets or Liabilities on the 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 and later reclassified into earnings when the underlying transaction occurs. Gains and losses from the ineffective portion of any hedge 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 Company's primary market risk exposure is associated with commodity prices, credit and interest rates. The Company has risk management policies to monitor and manage market risks. The Company uses derivative instruments to manage some of the exposure. DTE Electric generates, purchases, distributes and sells electricity. DTE Electric uses forward energy contracts to manage changes in the price of electricity and fuel. Substantially all of these contracts meet the normal purchases and sales exemption and are therefore accounted for under the accrual method. Other derivative contracts are recoverable through the PSCR mechanism when settled. This results in the deferral of unrealized gains and losses as Regulatory assets or liabilities until realized. | ||||||||
The following table presents the fair value of derivative instruments as of September 30, 2013 and December 31, 2012: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In millions) | ||||||||
FTRs — Other current assets | $ | 5 | $ | 1 | ||||
Total derivatives not designated as hedging instrument | $ | 5 | $ | 1 | ||||
The effects of derivative instruments recoverable through the PSCR mechanism when realized on the Consolidated Statements of Financial Position were $3 million and $7 million in gains related to FTRs recognized in Regulatory liabilities for the three and nine months ended September 30, 2013, respectively. | ||||||||
The following represents the cumulative gross volume of derivative contracts outstanding as of September 30, 2013: | ||||||||
Commodity | Number of Units | |||||||
FTRs (MWh) | 72,875 | |||||||
Asset_Retirement_Obligations_N
Asset Retirement Obligations (Notes) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Asset Retirement Obligation [Abstract] | ||||
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS | |||
A reconciliation of the asset retirement obligations for the nine months ended September 30, 2013 follows: | ||||
(In millions) | ||||
Asset retirement obligations at December 31, 2012 | $ | 1,557 | ||
Accretion | 72 | |||
Revision in estimated cash flows | 13 | |||
Liabilities settled | (2 | ) | ||
Asset retirement obligations at September 30, 2013 | $ | 1,640 | ||
Regulatory_Matters_Notes
Regulatory Matters (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Public Utilities, General Disclosures [Abstract] | |
Regulatory Matters | REGULATORY MATTERS |
Transition of the City of Detroit's Public Lighting Department's (PLD) Customers to DTE Electric's Distribution System | |
Accounting Authority | |
On June 28, 2013, DTE Electric filed an application for accounting authority to defer certain costs associated with the transition of the City of Detroit's PLD customers to the DTE Electric distribution system over a five to seven year system conversion period. The Company requested authority to defer as a regulatory asset, all net incremental revenue requirement associated with the transition. The net incremental revenue requirement includes costs to install meters and attach customers; system and customer facility upgrades and repairs; and the difference between DTE Electric's tariff rates and any transitional rates approved in the future. On July 11, 2013, the MPSC approved DTE Electric's request to defer, for accounting purposes, the net incremental revenue requirement. | |
The approval excludes the request to defer the difference between DTE Electric's tariff rates and any transitional rates that might be approved by the MPSC in the future. The MPSC will address proposed rates and recovery matters in a future contested proceeding. As the accounting order did not provide a regulatory recovery mechanism, a regulatory asset will not be recognized until a regulatory recovery mechanism is put into place and the recovery of the regulatory asset becomes probable. | |
Transitional Reconciliation Mechanism (TRM) | |
On July 19, 2013, DTE Electric filed its TRM application proposing a transitional tariff option for certain former PLD customers and a modified line extension provision. The application also proposes a recovery mechanism for the deferred incremental revenue requirement described above. The application further discusses that DTE Electric will be requesting recovery, in subsequent PSCR cases, of PLD transmission delivery service costs incurred while DTE Electric is temporarily relying upon PLD to operate and maintain PLD's system during the conversion period. If the MPSC determines that the transmission costs are not recoverable in the PSCR, the Company requested recovery as part of the TRM. | |
2009 Electric Rate Case Filing - Court of Appeals Remand to MPSC | |
In April 2012, the Michigan Court of Appeals (COA) issued a decision relating to an appeal of the January 2010 MPSC rate order in DTE Electric's January 2009 rate case filing. The COA found that the record of evidence in the January 2010 rate order was insufficient to support the MPSC's authorization to recover costs for the advanced metering infrastructure (AMI) program and remanded this matter to the MPSC. On October 17, 2013, the MPSC issued an order affirming the approximately $8 million rate increase authorized in the MPSC's January 2010 rate order for the AMI program and further concluded that the evidence presented after remand supports the authorized cost recovery. | |
2010 Electric Rate Case Filing - Court of Appeals Decision | |
In July 2013, the COA issued a decision relating to an appeal of the October 2011 MPSC order in DTE Electric's October 2010 rate case filing. The COA found that the record of evidence in the 2010 rate case order was insufficient to support the MPSC's authorization to recover costs for the AMI program and remanded this matter to the MPSC. The MPSC had approved $55 million of the average rate base related to the AMI program in the October 2011 order. DTE Electric is currently operating its AMI program pursuant to the MPSC's approval set forth in its October 20, 2011 order. On August 29, 2013, the MPSC reopened the 2010 electric rate case for the limited purpose of addressing the COA's opinion on AMI. The Company is unable to predict the outcome of this matter or the timing of its resolution. | |
Power Supply Cost Recovery Proceedings | |
The PSCR process is designed to allow DTE Electric to recover all of its power supply costs if incurred under reasonable and prudent policies and practices. DTE Electric's power supply costs include fuel and related transportation costs, purchased and net interchange power costs, nitrogen oxide and sulfur dioxide emission allowances costs, urea costs, transmission costs and MISO costs. The MPSC reviews these costs, policies and practices for prudence in annual plan and reconciliation filings. | |
2012 PSCR Year - In March 2013, DTE Electric filed the 2012 PSCR reconciliation calculating a net under-recovery of approximately $87 million that includes an under-recovery of approximately $148 million for the 2011 PSCR year. The reconciliation includes approximately $30 million of purchased power costs related to the manual shutdown of our Fermi 2 nuclear power plant in June 2012 caused by the failure of one of the plant's two non-safety related feed-water pumps. The plant was restarted on July 30, 2012 which restored production to nominal 68% of full capacity. In September 2013, the repair to the plant was completed and production was returned to full capacity. We were able to purchase sufficient power from MISO to continue to provide uninterrupted service to our customers. Certain intervenors in the reconciliation case have challenged the recovery of some or all of the Fermi-related purchased power costs. Resolution of this matter is expected in 2014. | |
Low Income Energy Assistance Fund (LIEAF) | |
On July 1, 2013, Michigan Public Act 95 was signed into law and created the LIEAF. The legislation allows the use of a LIEAF funding factor to be determined by the MPSC and assessed on all customer classes of Michigan electric utilities to fund the LIEAF. On July 29, 2013, the MPSC adopted a funding factor of $0.99 per meter per month for all Michigan electric utilities that are participating in the program, including DTE Electric, effective with the September 2013 billing month. The surcharge billed by DTE Electric is remitted to the State of Michigan for subsequent distribution through a grant process to social service agencies and utilities to assist low income customers. |
LongTerm_Debt_Notes
Long-Term Debt (Notes) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Long-term Debt, Unclassified [Abstract] | |||||||||||
Long-term Debt [Text Block] | LONG-TERM DEBT | ||||||||||
Debt Issuances | |||||||||||
In 2013, the following debt was issued: | |||||||||||
Month | Type | Interest Rate | Maturity | Amount | |||||||
(In millions) | |||||||||||
March | Mortgage Bonds (a) | 4.00% | 2043 | $ | 375 | ||||||
August | Mortgage Bonds (a) | 3.65% | 2024 | 400 | |||||||
$ | 775 | ||||||||||
_______________________________________ | |||||||||||
(a) | Proceeds were used for the redemption of DTE Electric long-term debt, for the repayment of short-term borrowings, and for general corporate purposes. | ||||||||||
Debt Redemptions | |||||||||||
In 2013, the following debt was redeemed: | |||||||||||
Month | Type | Interest Rate | Maturity | Amount | |||||||
(In millions) | |||||||||||
March | Securitization Bonds | 6.42% | 2013 | $ | 88 | ||||||
March | Tax Exempt Revenue Bonds (a) | 5.30% | 2030 | 51 | |||||||
April | Other Long-Term Debt | Various | 2013 | 13 | |||||||
September | Securitization Bonds | 6.62% | 2015 | 89 | |||||||
September | Senior Notes | 6.40% | 2013 | 250 | |||||||
$ | 491 | ||||||||||
_____________________________ | |||||||||||
(a) | DTE Electric Tax Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds. |
ShortTerm_Credit_Arrangements_
Short-Term Credit Arrangements and Borrowings (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Short-term Debt [Abstract] | |
Short-Term Credit Arrangements and Borrowings | SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS |
DTE Electric has a $300 million unsecured revolving credit agreement with a syndicate of 19 banks that can be used for general corporate borrowings, but is intended to provide liquidity support for the Company's commercial paper program. No one bank provides more than 8.7% of the commitment in the facility. Borrowings under the facility are available at prevailing short-term interest rates. The facility will expire in April 2018. At September 30, 2013, there was $11 million outstanding against the facility, while there was $130 million outstanding against the facility at December 31, 2012. | |
The agreement requires the Company to maintain a total funded debt to capitalization ratio of no more than 0.65 to 1. In the agreement, “total funded debt” means all indebtedness of the Company and its consolidated subsidiaries, including capital lease obligations, hedge agreements and guarantees of third parties' debt, but excluding contingent obligations and nonrecourse and junior subordinated debt. “Capitalization” means the sum of (a) total funded debt plus (b) “consolidated net worth,” which is equal to consolidated total stockholders' equity of the Company and its 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, 2013, the total funded debt to total capitalization ratio for DTE Electric was 0.53 to 1 and is in compliance with this financial covenant. |
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES |
Environmental | |
Air — DTE Electric is subject to the EPA ozone and fine particulate transport and acid rain regulations that limit power plant emissions of sulfur dioxide and nitrogen oxides. Since 2005, the EPA and the State of Michigan have issued additional emission reduction regulations relating to ozone, fine particulate, regional haze, mercury, and other air pollution. These rules have led to additional controls on fossil-fueled power plants to reduce nitrogen oxide, sulfur dioxide, mercury and other emissions. To comply with these requirements, DTE Electric has spent approximately $1.9 billion through 2012. The Company estimates DTE Electric will make capital expenditures of approximately $190 million in 2013 and up to approximately $1.8 billion of additional capital expenditures through 2021 based on current regulations. Further, additional rulemakings are expected over the next few years which could require additional controls for sulfur dioxide, nitrogen oxides and hazardous air pollutants. The Cross State Air Pollution Rule (CSAPR), finalized in July 2011, required further reductions of sulfur dioxide and nitrogen oxides emissions beginning in 2012. On December 30, 2011, the U.S. Court of Appeals for the District of Columbia (D.C.) Circuit granted the motions to stay the rule, leaving DTE Electric temporarily subject to the previously existing Clean Air Interstate Rule (CAIR). On August 21, 2012, the Court issued its decision, vacating CSAPR and leaving CAIR in place. The EPA's petition seeking a rehearing of the U.S. Court of Appeals' decision regarding the CSAPR was denied on January 24, 2013. On June 24, 2013, the U.S. Supreme Court granted EPA's petition asking the Court to review the D.C. Circuit Court's decision on CSAPR. A ruling by the Supreme Court is not expected before 2014. Notwithstanding the appeal filed with the Supreme Court, the EPA and a number of states have started working on the framework of revised CSAPR regulations which we anticipate to be proposed in the next few years. | |
The Mercury and Air Toxics Standard (MATS) rule, formerly known as the Electric Generating Unit Maximum Achievable Control Technology (EGU MACT) Rule was finalized on December 16, 2011. The MATS rule requires reductions of mercury and other hazardous air pollutants beginning in April 2015, with a potential extension to April 2016. DTE Electric has requested and been granted compliance date extensions for some units to April 2016. DTE Electric has tested technologies to determine technological and economic feasibility as MATS compliance alternatives to Flue Gas Desulfurization (FGD) systems. Implementation of Dry Sorbent Injection (DSI) and Activated Carbon Injection (ACI) technologies will allow several units that would not have been economical for FGD installations to continue operation in compliance with MATS. | |
In July 2009, DTE Energy received a Notice of Violation/Finding of Violation (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, but not relating to the July 2009 NOV/FOV. Among other relief, the EPA requested the court to require DTE Electric to install and operate the best available control technology at Unit 2 of the Monroe Power Plant. Further, the EPA requested the court to issue a preliminary injunction to require DTE Electric to (i) begin the process of obtaining the necessary permits for the Monroe Unit 2 modification and (ii) offset the pollution from Monroe Unit 2 through emissions reductions from DTE Electric's fleet of coal-fired power plants until the new control equipment is operating. On August 23, 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. On October 20, 2011, the EPA caused to be filed a Notice of Appeal to the U.S. Court of Appeals for the Sixth Circuit. On March 28, 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. On September 3, 2013, the EPA caused to be 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 addition, the Sierra Club caused to be filed a motion to add a claim regarding the River Rouge Power Plant. The EPA and Sierra Club motions are currently pending with the U. S. District Court Judge. | |
DTE Electric believes that the plants identified by the EPA, including Unit 2 of the Monroe Power Plant, have complied with all applicable federal environmental regulations. Depending upon the outcome of 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 Company cannot predict the financial impact or outcome of this matter, or the timing of its resolution. | |
On March 13, 2013, the Sierra Club filed suit against DTE Electric alleging violations of the Clean Air Act at four of DTE Electric's coal-fired power plants. The plaintiffs allege 1,499 6-minute periods of excess opacity of air emissions from 2007-2012 at those facilities. The suit asks that the court enjoin the Company from operating the power plants except in complete compliance with applicable laws and permit requirements, pay civil penalties, conduct beneficial environmental mitigation projects, pay attorney fees and require the installation of any necessary pollution controls or to convert and/or operate the plants' boilers on natural gas to avoid additional violations and to off-set historic unlawful emissions. The resolution of this matter is not expected to have a material effect on the Company's operations or financial statements. | |
Water — In response to an EPA regulation, DTE Electric would be 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. The initial rule published in 2004 was subsequently remanded and a proposed rule published in 2011. The proposed rule specified an eight year compliance timeline. In July 2012, the EPA announced that a notice of its final action on the rule will be issued in June 2013. On June 27, 2013, the EPA announced an agreement to extend the deadline for issuance of the final rule until November 4, 2013. On April 19, 2013, the EPA proposed revised steam electric effluent guidelines regulating wastewater streams from coal-fired power plants including multiple possible options for compliance. The rules are expected to be finalized by May 2014. DTE Electric has provided comments to the EPA. However, it is not possible at this time to quantify the impacts of these developing requirements. | |
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 manufactured gas plant (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 site. In addition to the MGP sites, the Company 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, 2013 and at December 31, 2012, the Company had $9 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 the Company’s financial position and cash flows. The Company believes that the likelihood of a materially greater liability than the accrued amount is remote based on current knowledge of the conditions at each site. | |
DTE Electric owns and operates a permitted engineered ash storage facility at the Monroe Power Plant to dispose of fly ash from the coal fired power plant. The EPA has published proposed rules to regulate coal ash under the authority of the Resources Conservation and Recovery Act (RCRA). The proposed rule published in June 2010 contains two primary regulatory options to regulate coal ash residue. The EPA is currently considering either designating coal ash as a “Hazardous Waste” as defined by RCRA or regulating coal ash as non-hazardous waste under RCRA. Agencies and legislatures have urged the EPA to regulate coal ash as a non-hazardous waste. If the EPA designates coal ash as a hazardous waste, the agency could apply some, or all, of the disposal and reuse standards that have been applied to other existing hazardous wastes to disposal and reuse of coal ash. Some of the regulatory actions currently being contemplated could have a significant impact on our operations and financial position and the rates we charge our customers. It is not possible to quantify the impact of those expected rulemakings at this time. | |
Other | |
In March 2011, the EPA finalized a new set of regulations regarding the identification of non-hazardous secondary materials that are considered solid waste, industrial boiler and process heater maximum achievable control technologies (IBMACT) for major and area sources, and commercial/industrial solid waste incinerator new source performance standard and emission guidelines (CISWI). The effective dates of the major source IBMACT and CISWI regulations were stayed and a re-proposal was issued by the EPA in December 2011. Final IBMACT and CISWI were issued by the EPA in December 2012. The Company is developing compliance plans to upgrade or convert existing industrial boilers to natural gas and to perform required energy assessments in compliance with the applicable new standards. Capital costs for the boiler conversions and the expenses for the one-time energy assessments are not expected to be material. | |
In 2010, the EPA finalized a new 1-hour sulfur dioxide ambient air quality standard that requires states to submit plans for non-attainment areas to be in compliance by 2017. Michigan's non-attainment area includes DTE Electric facilities in southwest Detroit and areas of Wayne County. Preliminary modeling runs by the MDEQ suggest that emission reductions may be required by significant sources of sulfur dioxide emissions in these areas, including DTE Electric power plants. The state implementation plan process is in the information gathering stage and any required emission reductions for DTE Electric sources to meet the standard cannot be estimated currently. | |
Nuclear Operations | |
Property Insurance | |
DTE Electric maintains property insurance policies specifically for the Fermi 2 plant. These policies cover such items as replacement power and property damage. The Nuclear Electric Insurance Limited (NEIL) is the primary supplier of the insurance policies. | |
DTE Electric maintains a policy for extra expenses, including replacement power costs necessitated by Fermi 2's unavailability due to an insured event. This policy has a 12-week waiting period and provides an aggregate $490 million of coverage over a three-year period. | |
DTE Electric has $500 million in primary coverage and $2.25 billion of excess coverage for stabilization, decontamination, debris removal, repair and/or replacement of property and decommissioning. The combined coverage limit for total property damage is $2.75 billion, subject to a $1 million deductible. As of April 1, 2013, the total limit for property damage for non-nuclear events is $1.8 billion and an aggregate of $327 million of coverage for extra expenses over a two-year period. | |
In 2007, the Terrorism Risk Insurance Extension Act of 2005 (TRIA) was extended through December 31, 2014. A major change in the extension is the inclusion of “domestic” acts of terrorism in the definition of covered or “certified” acts. For multiple terrorism losses caused by acts of terrorism not covered under the TRIA occurring within one year after the first loss from terrorism, the NEIL policies would make available to all insured entities up to $3.2 billion, plus any amounts recovered from reinsurance, government indemnity, or other sources to cover losses. | |
Under the NEIL policies, DTE Electric could be liable for maximum assessments of up to approximately $34 million per event if the loss associated with any one event at any insured nuclear plant should exceed the accumulated funds available to NEIL. | |
Public Liability Insurance | |
As required by federal law, DTE Electric maintains $375 million of public liability insurance for a nuclear incident. For liabilities arising from a terrorist act outside the scope of TRIA, the policy is subject to one industry aggregate limit of $300 million. Further, under the Price-Anderson Amendments Act of 2005, deferred premium charges up to $127.3 million could be levied against each licensed nuclear facility, but not more than $19 million per year per facility. Thus, deferred premium charges could be levied against all owners of licensed nuclear facilities in the event of a nuclear incident at any of these facilities. | |
Nuclear Fuel Disposal Costs | |
In accordance with the Federal Nuclear Waste Policy Act of 1982, DTE Electric has a contract with the U.S. Department of Energy (DOE) for the future storage and disposal of spent nuclear fuel from Fermi 2. DTE Electric is obligated to pay the DOE a fee of 1 mill per kWh of Fermi 2 electricity generated and sold. The fee is a component of nuclear fuel expense. The DOE's Yucca Mountain Nuclear Waste Repository program for the acceptance and disposal of spent nuclear fuel was terminated in 2011. DTE Electric currently employs a spent nuclear fuel storage strategy utilizing a fuel pool. The Company continues to develop its on-site dry cask storage facility and anticipates initial offload from the spent fuel pool in 2014. The dry cask storage facility is expected to provide sufficient spent fuel storage capability for the life of the plant as defined by the original operating license. | |
DTE Electric is a party in the litigation against the DOE for both past and future costs associated with the DOE's failure to accept spent nuclear fuel under the timetable set forth in the Federal Nuclear Waste Policy Act of 1982. In July 2012, DTE Electric executed a settlement agreement with the federal government for costs associated with the DOE's delay in acceptance of spent nuclear fuel from Fermi 2 for permanent storage. The settlement provided for a payment of approximately $48 million, received in August 2012, for delay-related costs experienced by DTE Electric through 2010, and a claims process for submittal of delay-related costs from 2011 through 2013. DTE Electric has begun the claims process and all claims submitted have been accepted. The settlement proceeds reduced the cost of the dry cask storage facility assets. In February 2013, the U.S. Court of Appeals for the District of Columbia granted a motion to reopen the fee adequacy litigation to review the DOE's latest fee adequacy report which was released in January 2013. DTE Electric will continue to pay fees to the U.S. government's nuclear waste fund pending further action by the D.C. Circuit. The federal government continues to maintain its legal obligation to accept spent nuclear fuel from Fermi 2 for permanent storage. Issues relating to long-term waste disposal policy and to the disposition of funds contributed by DTE Electric ratepayers to the federal waste fund await future governmental action. | |
Guarantees | |
In certain limited circumstances, the Company enters into contractual guarantees. The Company may guarantee another entity’s obligation in the event it fails to perform. The Company may provide guarantees in certain indemnification agreements. Finally, the Company may provide indirect guarantees for the indebtedness of others. | |
Labor Contracts | |
Our contract with a bargaining unit for the majority of our represented employees was due to expire in June 2013. Early negotiations resulted in a new contract that became effective in March 2013. The new contract will expire in June 2017. | |
Purchase Commitments | |
As of September 30, 2013, the Company was party to numerous long-term purchase commitments relating to a variety of goods and services required for the Company’s business. These agreements primarily consist of fuel supply commitments, renewable energy contracts and energy trading contracts. The Company estimates that these commitments will be approximately $2.6 billion from 2013 through 2034. | |
The Company also estimates that 2013 capital expenditures will be approximately $1.5 billion. The Company has made certain commitments in connection with expected capital expenditures. | |
Bankruptcies | |
The Company purchases and sells electricity from and to governmental entities and numerous companies operating in the steel, automotive, energy, retail and other industries. Certain of its customers have filed for bankruptcy protection under the U.S. Bankruptcy Code. The Company regularly reviews contingent matters relating to these customers and its purchase and sale contracts and records provisions for amounts considered at risk of probable loss. The Company believes its accrued amounts are adequate for probable loss. | |
The Company provides services to the city of Detroit, Michigan (Detroit). Detroit filed for Chapter 9 bankruptcy protection on July 18, 2013. The Company had pre-petition accounts receivable of approximately $20 million outstanding as of the bankruptcy filing date. Detroit has been paying amounts owed in a timely manner and its accounts are substantially current. The Company does not expect Detroit's bankruptcy filing to have a material impact on its financial results. | |
Other Contingencies | |
The Company is 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 Company cannot predict the final disposition of such proceedings. The Company regularly reviews legal matters and records provisions for claims that it can estimate and are considered probable of loss. The resolution of these pending proceedings is not expected to have a material effect on the Company’s operations or financial statements in the periods they are resolved. | |
See Note 6 for a discussion of contingencies related to Regulatory Matters. |
Retirement_Benefits_and_Truste
Retirement Benefits and Trusteed Assets (Notes) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Pension and Other Postretirement Benefit Expense [Abstract] | ||||||||||||||||
Retirement Benefits and Trusted Assets Disclosure [Text Block] | RETIREMENT BENEFITS AND TRUSTEED ASSETS | |||||||||||||||
The following table details the components of net periodic benefit costs for pension benefits and other postretirement benefits: | ||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Three Months Ended September 30 | (In millions) | |||||||||||||||
Service cost | $ | 17 | $ | 15 | $ | 6 | $ | 11 | ||||||||
Interest cost | 36 | 38 | 16 | 23 | ||||||||||||
Expected return on plan assets | (45 | ) | (41 | ) | (18 | ) | (15 | ) | ||||||||
Amortization of: | ||||||||||||||||
Net actuarial loss | 39 | 33 | 12 | 16 | ||||||||||||
Prior service cost (credit) | 1 | — | (27 | ) | (4 | ) | ||||||||||
Net periodic benefit cost (credit) | $ | 48 | $ | 45 | $ | (11 | ) | $ | 31 | |||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Nine Months Ended September 30 | (In millions) | |||||||||||||||
Service cost | $ | 55 | $ | 48 | $ | 27 | $ | 38 | ||||||||
Interest cost | 109 | 116 | 50 | 69 | ||||||||||||
Expected return on plan assets | (138 | ) | (124 | ) | (55 | ) | (46 | ) | ||||||||
Amortization of: | ||||||||||||||||
Net actuarial loss | 111 | 93 | 36 | 44 | ||||||||||||
Prior service cost (credit) | 1 | — | (72 | ) | (12 | ) | ||||||||||
Net transition liability | — | — | — | 1 | ||||||||||||
Settlements | — | 2 | — | — | ||||||||||||
Net periodic benefit cost (credit) | $ | 138 | $ | 135 | $ | (14 | ) | $ | 94 | |||||||
Pension and Other Postretirement Contributions | ||||||||||||||||
During the first nine months of 2013, the Company contributed $250 million to its pension plans, including contributions of DTE Energy common stock of $200 million. At the discretion of management, and depending upon financial market conditions, the Company may make up to an additional $25 million contribution to its pension plans in 2013. | ||||||||||||||||
In January 2013, the Company contributed $120 million to its other postretirement benefit plans. At the discretion of management, the Company may make up to an additional $120 million contribution to its other postretirement benefit plans in 2013. | ||||||||||||||||
Re-Measurement of Other Postretirement Benefit Obligation | ||||||||||||||||
In March 2013, the Company reached an agreement on a new four-year labor contract with certain represented employees. As a term of the agreement, the Company replaced sponsored retiree medical, prescription drug and dental coverage for future Medicare eligible retirees with a Retiree Health Care Allowance (RHCA) account of $3,250 per year. The modification in retiree health coverage will reduce future postretirement benefit costs. | ||||||||||||||||
Based on the impact of such benefit cost savings on the financial statements, the Company re-measured its retiree health plan as of March 31, 2013. In performing the re-measurement, the Company updated its significant actuarial assumptions, including an adjustment to the discount rate from 4.15% at December 31, 2012 to 4.30% at March 31, 2013. Plan assets were also updated to reflect fair value as of the re-measurement date. As a result of the re-measurement, the accumulated postretirement benefit obligation (APBO) was reduced by $192 million. The Company's Accrued postretirement benefit liability - affiliates at March 31, 2013 was $661 million as compared to $996 million at December 31, 2012, a reduction of $335 million. The reduction reflects the impact of the re-measurement of the plan, January 2013 plan contributions and recognition of first quarter 2013 postretirement benefit costs and benefit payments. | ||||||||||||||||
Beginning April 2013, net postretirement benefit costs were recorded based on the updated actuarial assumptions and benefit changes resulting from the new labor contracts. As a result of the re-measurement, fiscal year 2013 postretirement benefit costs are expected to decrease by approximately $51 million to an annual net benefit of approximately $23 million. |
Significant_Accounting_Policie1
Significant Accounting Policies Significant Accounting Policies (Policies) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Accounting Policies [Abstract] | ||
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income | |
Comprehensive income is the change in common shareholder’s equity during a period from transactions and events from non-owner sources, including net income. As shown in the following tables, amounts recorded to accumulated other comprehensive loss for the three and nine months ended September 30, 2013 reflected changes in benefit obligations. | ||
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | 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. | |
Income Tax, Policy [Policy Text Block] | Income Taxes | |
The Company's effective tax rate from continuing operations for the three months ended September 30, 2013 was 35 percent as compared to 37 percent for the three months ended September 30, 2012. The Company's effective tax rate from continuing operations for the nine months ended September 30, 2013 was 35 percent as compared to 37 percent for the nine months ended September 30, 2012. The decrease in the effective tax rate in 2013 is due primarily to higher production tax credits. DTE Electric had an income tax payable of $34 million at September 30, 2013 and $13 million at December 31, 2012 due to DTE Energy. | ||
The Company had $3 million of unrecognized tax benefits at September 30, 2013, that, if recognized, would favorably impact its effective tax rate. The Company does not anticipate any material changes to the unrecognized tax benefits in the next twelve months. | ||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation | |
The Company received an allocation of costs from DTE Energy associated with stock-based compensation |
Basis_of_Presentation_Tables
Basis of Presentation (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract] | ||||||||
Schedule of Variable Interest Entities [Table Text Block] | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In millions) | ||||||||
ASSETS | ||||||||
Restricted cash | $ | 44 | $ | 102 | ||||
Accounts receivable | 39 | 34 | ||||||
Securitized regulatory assets | 280 | 413 | ||||||
Other assets | 5 | 7 | ||||||
$ | 368 | $ | 556 | |||||
LIABILITIES | ||||||||
Accounts payable and accrued current liabilities | $ | 2 | $ | 11 | ||||
Current portion long-term debt, including capital leases | 196 | 177 | ||||||
Current regulatory liabilities | 48 | 50 | ||||||
Securitization bonds | 105 | 302 | ||||||
Other long-term liabilities | 8 | 7 | ||||||
$ | 359 | $ | 547 | |||||
Significant_Accounting_Policie2
Significant Accounting Policies Significant Accounting Policies (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Accounting Policies [Abstract] | ||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The Company has certain intangible assets relating to emission allowances and renewable energy credits as shown below: | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In millions) | ||||||||
Emission allowances | $ | 3 | $ | 6 | ||||
Renewable energy credits | 48 | 44 | ||||||
51 | 50 | |||||||
Less current intangible assets | 14 | 20 | ||||||
$ | 37 | $ | 30 | |||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | As shown in the following tables, amounts recorded to accumulated other comprehensive loss for the three and nine months ended September 30, 2013 reflected changes in benefit obligations. | |||||||
Changes in Accumulated Other Comprehensive Loss by Component (a) | ||||||||
Three Months Ended September 30, 2013 | ||||||||
Benefit Obligations (b) | Total | |||||||
(In millions) | ||||||||
Beginning balance, June 30, 2013 | $ | (21 | ) | $ | (21 | ) | ||
Other comprehensive income before reclassifications | — | — | ||||||
Amounts reclassified from accumulated other comprehensive income | 1 | 1 | ||||||
Net current-period other comprehensive income | 1 | 1 | ||||||
Ending balance, September 30, 2013 | $ | (20 | ) | $ | (20 | ) | ||
Changes in Accumulated Other Comprehensive Loss by Component (a) | ||||||||
Nine Months Ended September 30, 2013 | ||||||||
Benefit Obligations (b) | Total | |||||||
(In millions) | ||||||||
Beginning balance, December 31, 2012 | $ | (22 | ) | $ | (22 | ) | ||
Other comprehensive income before reclassifications | — | — | ||||||
Amounts reclassified from accumulated other comprehensive income | 2 | 2 | ||||||
Net current-period other comprehensive income | 2 | 2 | ||||||
Ending balance, September 30, 2013 | $ | (20 | ) | $ | (20 | ) | ||
_______________________________________ | ||||||||
(a) All amounts are net of tax. | ||||||||
(b) The amounts reclassified from accumulated other comprehensive income are included in the computation of the net periodic pension cost (see Retirement Benefits and Trusteed Assets Note 10). |
Fair_Value_Tables
Fair Value (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||
Assets and liabilities measured and recorded at fair value on a recurring basis [Table Text Block] | The following table presents assets measured and recorded at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Net Balance | Level 1 | Level 2 | Level 3 | Net Balance | |||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Cash equivalents (a) | $ | — | $ | 61 | $ | — | $ | 61 | $ | — | $ | 116 | $ | — | $ | 116 | ||||||||||||||||
Nuclear decommissioning trusts | 757 | 382 | — | 1,139 | 694 | 343 | — | 1,037 | ||||||||||||||||||||||||
Other investments (b) | 74 | 48 | — | 122 | 64 | 44 | — | 108 | ||||||||||||||||||||||||
Derivative assets — FTRs | — | — | 5 | 5 | — | — | 1 | 1 | ||||||||||||||||||||||||
Total | $ | 831 | $ | 491 | $ | 5 | $ | 1,327 | $ | 758 | $ | 503 | $ | 1 | $ | 1,262 | ||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Current | $ | — | $ | 61 | $ | 5 | $ | 66 | $ | — | $ | 116 | $ | 1 | $ | 117 | ||||||||||||||||
Noncurrent | 831 | 430 | — | 1,261 | 758 | 387 | — | 1,145 | ||||||||||||||||||||||||
Total Assets | $ | 831 | $ | 491 | $ | 5 | $ | 1,327 | $ | 758 | $ | 503 | $ | 1 | $ | 1,262 | ||||||||||||||||
_______________________________________ | ||||||||||||||||||||||||||||||||
(a) | At September 30, 2013, available-for-sale securities of $61 million, included $44 million and $17 million of cash equivalents included in Restricted cash and Other investments, respectively, on the Consolidated Statements of Financial Position. At December 31, 2012, available-for-sale securities of $116 million, included $102 million and $14 million of cash equivalents included in Restricted cash and Other investments, respectively, on the Consolidated Statements of Financial Position. | |||||||||||||||||||||||||||||||
(b) | Available-for-sale equity securities at September 30, 2013 and December 31, 2012 of $6 million and $5 million, respectively, are included in Other investments on the Consolidated Statements of Financial Position. | |||||||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Net Assets as of beginning of the period | $ | 2 | $ | 2 | $ | 1 | $ | 1 | ||||||||||||||||||||||||
Change in fair value recorded in regulatory assets/liabilities | 3 | 7 | 7 | 12 | ||||||||||||||||||||||||||||
Purchases, issuances and settlements: | ||||||||||||||||||||||||||||||||
Settlements | — | (7 | ) | (3 | ) | (11 | ) | |||||||||||||||||||||||||
Net Assets as of September 30 | $ | 5 | $ | 2 | $ | 5 | $ | 2 | ||||||||||||||||||||||||
The amount of total gains (losses) included in regulatory assets and liabilities attributed to the change in unrealized gains (losses) related to assets and liabilities held at September 30, 2013 and September 30, 2012 | $ | 3 | $ | 1 | $ | 5 | $ | 2 | ||||||||||||||||||||||||
Fair Value of Financial Instruments [Table Text Block] | The following table presents the carrying amount and fair value of financial instruments as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | |||||||||||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Amount | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Notes receivable, excluding capital leases | $ | 8 | $ | — | $ | — | $ | 8 | $ | 5 | $ | — | $ | — | $ | 5 | ||||||||||||||||
Short-term borrowings — affiliates | 55 | — | — | 55 | 80 | — | — | 80 | ||||||||||||||||||||||||
Short-term borrowings — other | 11 | — | 11 | — | 130 | — | 130 | — | ||||||||||||||||||||||||
Long-term debt | 5,245 | — | 5,163 | 426 | 4,963 | — | 5,021 | 620 | ||||||||||||||||||||||||
Fair Value of Nuclear Decommissioning Trust Fund Assets [Table Text Block] | The following table summarizes the fair value of the nuclear decommissioning trust fund assets: | |||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Fermi 2 | $ | 1,120 | $ | 1,021 | ||||||||||||||||||||||||||||
Fermi 1 | 3 | 3 | ||||||||||||||||||||||||||||||
Low-level radioactive waste | 16 | 13 | ||||||||||||||||||||||||||||||
Total | $ | 1,139 | $ | 1,037 | ||||||||||||||||||||||||||||
Schedule of Realized Gain (Loss) [Table Text Block] | The following table sets forth the gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds: | |||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Realized gains | $ | 11 | $ | 7 | $ | 30 | $ | 21 | ||||||||||||||||||||||||
Realized losses | (11 | ) | (6 | ) | (25 | ) | (17 | ) | ||||||||||||||||||||||||
Proceeds from sales of securities | 13 | 12 | 40 | 48 | ||||||||||||||||||||||||||||
Fair Value and Unrealized Gains for Nuclear Decommissioning Trust Fund [Table Text Block] | The following table sets forth the fair value and unrealized gains for the nuclear decommissioning trust funds: | |||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||||
Value | Gains | Value | Gains | |||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||||||
Equity securities | $ | 732 | $ | 195 | $ | 631 | $ | 122 | ||||||||||||||||||||||||
Debt securities | 395 | 17 | 399 | 27 | ||||||||||||||||||||||||||||
Cash and cash equivalents | 12 | — | 7 | — | ||||||||||||||||||||||||||||
$ | 1,139 | $ | 212 | $ | 1,037 | $ | 149 | |||||||||||||||||||||||||
Financial_and_Other_Derivative1
Financial and Other Derivative Instruments (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||
Fair value of derivative instruments | The following table presents the fair value of derivative instruments as of September 30, 2013 and December 31, 2012: | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In millions) | ||||||||
FTRs — Other current assets | $ | 5 | $ | 1 | ||||
Total derivatives not designated as hedging instrument | $ | 5 | $ | 1 | ||||
Volume of Commodity Contracts [Table Text Block] | The following represents the cumulative gross volume of derivative contracts outstanding as of September 30, 2013: | |||||||
Commodity | Number of Units | |||||||
FTRs (MWh) | 72,875 | |||||||
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Asset Retirement Obligation Disclosure [Abstract] | ||||
Schedule of Change in Asset Retirement Obligation [Table Text Block] | A reconciliation of the asset retirement obligations for the nine months ended September 30, 2013 follows: | |||
(In millions) | ||||
Asset retirement obligations at December 31, 2012 | $ | 1,557 | ||
Accretion | 72 | |||
Revision in estimated cash flows | 13 | |||
Liabilities settled | (2 | ) | ||
Asset retirement obligations at September 30, 2013 | $ | 1,640 | ||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Long-term Debt, Unclassified [Abstract] | |||||||||||
Schedule of Issued Debt [Table Text Block] | In 2013, the following debt was issued: | ||||||||||
Month | Type | Interest Rate | Maturity | Amount | |||||||
(In millions) | |||||||||||
March | Mortgage Bonds (a) | 4.00% | 2043 | $ | 375 | ||||||
August | Mortgage Bonds (a) | 3.65% | 2024 | 400 | |||||||
$ | 775 | ||||||||||
_______________________________________ | |||||||||||
(a) | Proceeds were used for the redemption of DTE Electric long-term debt, for the repayment of short-term borrowings, and for general corporate purposes. | ||||||||||
Schedule of Extinguishment of Debt [Table Text Block] | In 2013, the following debt was redeemed: | ||||||||||
Month | Type | Interest Rate | Maturity | Amount | |||||||
(In millions) | |||||||||||
March | Securitization Bonds | 6.42% | 2013 | $ | 88 | ||||||
March | Tax Exempt Revenue Bonds (a) | 5.30% | 2030 | 51 | |||||||
April | Other Long-Term Debt | Various | 2013 | 13 | |||||||
September | Securitization Bonds | 6.62% | 2015 | 89 | |||||||
September | Senior Notes | 6.40% | 2013 | 250 | |||||||
$ | 491 | ||||||||||
_____________________________ | |||||||||||
(a) | DTE Electric Tax Exempt Revenue Bonds are issued by a public body that loans the proceeds to DTE Electric on terms substantially mirroring the Revenue Bonds. |
Retirement_Benefits_and_Truste1
Retirement Benefits and Trusteed Assets Retirement Benefits and Trusted Assets (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Defined Benefit Plan, Assets for Plan Benefits [Abstract] | ||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The following table details the components of net periodic benefit costs for pension benefits and other postretirement benefits: | |||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Three Months Ended September 30 | (In millions) | |||||||||||||||
Service cost | $ | 17 | $ | 15 | $ | 6 | $ | 11 | ||||||||
Interest cost | 36 | 38 | 16 | 23 | ||||||||||||
Expected return on plan assets | (45 | ) | (41 | ) | (18 | ) | (15 | ) | ||||||||
Amortization of: | ||||||||||||||||
Net actuarial loss | 39 | 33 | 12 | 16 | ||||||||||||
Prior service cost (credit) | 1 | — | (27 | ) | (4 | ) | ||||||||||
Net periodic benefit cost (credit) | $ | 48 | $ | 45 | $ | (11 | ) | $ | 31 | |||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Nine Months Ended September 30 | (In millions) | |||||||||||||||
Service cost | $ | 55 | $ | 48 | $ | 27 | $ | 38 | ||||||||
Interest cost | 109 | 116 | 50 | 69 | ||||||||||||
Expected return on plan assets | (138 | ) | (124 | ) | (55 | ) | (46 | ) | ||||||||
Amortization of: | ||||||||||||||||
Net actuarial loss | 111 | 93 | 36 | 44 | ||||||||||||
Prior service cost (credit) | 1 | — | (72 | ) | (12 | ) | ||||||||||
Net transition liability | — | — | — | 1 | ||||||||||||
Settlements | — | 2 | — | — | ||||||||||||
Net periodic benefit cost (credit) | $ | 138 | $ | 135 | $ | (14 | ) | $ | 94 | |||||||
Basis_of_Presentation_Details_
Basis of Presentation (Details Textuals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | customers | |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ||
Number of Electric Customers | 2,100,000 | |
Significant Potential Exposure to Loss Due to VIE Long-Term Purchase Contracts | $0 | |
Notes receivable | 6 | 3 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Organization, Consolidation and Presentation of Financial Statements [Line Items] | ||
Notes receivable | $0 | $3 |
Basis_of_Presentation_Details
Basis of Presentation (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets [Abstract] | ||
Restricted cash | $44 | $102 |
Accounts receivable | 766 | 697 |
Securitized regulatory assets | 280 | 413 |
Other assets | 145 | 138 |
Total Assets | 17,602 | 17,651 |
Liabilities [Abstract] | ||
Current portion long-term debt, including, capital leases | 501 | 443 |
Current regulatory liabilities | 192 | 66 |
Securitization bonds | 105 | 302 |
Other long term liabilities | 103 | 103 |
Variable Interest Entity Securitization [Member] | ||
Assets [Abstract] | ||
Restricted cash | 44 | 102 |
Accounts receivable | 39 | 34 |
Securitized regulatory assets | 280 | 413 |
Other assets | 5 | 7 |
Total Assets | 368 | 556 |
Liabilities [Abstract] | ||
Accounts payable and accrued current liabilities | 2 | 11 |
Current portion long-term debt, including, capital leases | 196 | 177 |
Current regulatory liabilities | 48 | 50 |
Securitization bonds | 105 | 302 |
Other long term liabilities | 8 | 7 |
Total Liabilities | $359 | $547 |
Significant_Accounting_Policie3
Significant Accounting Policies (Details Textuals) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Significant Accounting Policies [Line Items] | |||||
Effective Income Tax Rate Reconciliation, Percent | 35.00% | 37.00% | 35.00% | 37.00% | |
Unrecognized Tax Benefits | $3 | $3 | |||
Time Period of Decrease in Unrecognized Tax Benefits | 12 months | ||||
DTE Energy [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Income Taxes Payable due to DTE Energy | 34 | 34 | 13 | ||
Allocated Share-based Compensation Expense from DTE Energy | $10 | $12 | $43 | $32 |
Significant_Accounting_Policie4
Significant Accounting Policies Signficant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($21) | ($22) |
Other Comprehensive Income Before Reclassifications | 0 | 0 |
Amounts Reclassified From Accumulated Other Comprehensive Income | 1 | 2 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 1 | 2 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -20 | -20 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | -21 | -22 |
Other Comprehensive Income Before Reclassifications | 0 | 0 |
Amounts Reclassified From Accumulated Other Comprehensive Income | 1 | 2 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 1 | 2 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($20) | ($20) |
Significant_Accounting_Policie5
Significant Accounting Policies Significant Accounting Policies (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $51 | $50 |
Intangible Assets, Current | 14 | 20 |
Finite-Lived Intangible Assets, Net | 37 | 30 |
Emission Allowances [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 3 | 6 |
Renewable Energy Credits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $48 | $44 |
Fair_Value_Details
Fair Value (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $61 | $116 |
Nuclear decommissioning trusts | 1,139 | 1,037 |
Other investments | 122 | 108 |
Assets | 1,327 | 1,262 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Nuclear decommissioning trusts | 757 | 694 |
Other investments | 74 | 64 |
Assets | 831 | 758 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 61 | 116 |
Nuclear decommissioning trusts | 382 | 343 |
Other investments | 48 | 44 |
Assets | 491 | 503 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Nuclear decommissioning trusts | 0 | 0 |
Other investments | 0 | 0 |
Assets | 5 | 1 |
FTR [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets - FTRs | 5 | 1 |
FTR [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets - FTRs | 0 | 0 |
FTR [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets - FTRs | 0 | 0 |
FTR [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets - FTRs | 5 | 1 |
Current Asset [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 66 | 117 |
Current Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Current Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 61 | 116 |
Current Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 5 | 1 |
Noncurrent Asset [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 1,261 | 1,145 |
Noncurrent Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 831 | 758 |
Noncurrent Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 430 | 387 |
Noncurrent Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $0 | $0 |
Fair_Value_Details_1
Fair Value (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Mar. 31, 2012 |
Fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis | ||||||
Beginning Balance | $1 | $1 | $2 | $2 | ||
Recorded in regulatory assets/liabilities | 3 | 7 | 7 | 12 | ||
Purchases issuances and settlements [Abstract] | ||||||
Settlements | 0 | -7 | -3 | -11 | ||
Ending Balance | 5 | 2 | 5 | 2 | 2 | 2 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Period Increase (Decrease) | $3 | $1 | $5 | $2 |
Fair_Value_Details_2
Fair Value (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value of Financial Instruments [Line Items] | ||
Notes receivable, excluding capital leases Carrying Amount | $8 | $5 |
Short-term borrowings - other Carrying Amount | 11 | 130 |
Long-term debt Carrying Amount | 5,245 | 4,963 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value of Financial Instruments [Line Items] | ||
Notes receivable, excluding capital leases Fair Value | 0 | 0 |
Short-term Debt, Fair Value | 0 | 0 |
Long-term debt Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value of Financial Instruments [Line Items] | ||
Notes receivable, excluding capital leases Fair Value | 0 | 0 |
Short-term Debt, Fair Value | 11 | 130 |
Long-term debt Fair Value | 5,163 | 5,021 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value of Financial Instruments [Line Items] | ||
Notes receivable, excluding capital leases Fair Value | 8 | 5 |
Short-term Debt, Fair Value | 0 | 0 |
Long-term debt Fair Value | 426 | 620 |
Affiliates [Member] | ||
Fair Value of Financial Instruments [Line Items] | ||
Short-term borrowings - affiliates Carrying Amount | 55 | 80 |
Affiliates [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value of Financial Instruments [Line Items] | ||
Short-term Debt, Fair Value | 0 | 0 |
Affiliates [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value of Financial Instruments [Line Items] | ||
Short-term Debt, Fair Value | 0 | 0 |
Affiliates [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value of Financial Instruments [Line Items] | ||
Short-term Debt, Fair Value | $55 | $80 |
Fair_Value_Details_3
Fair Value (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Decommissioning Fund Investments | $1,139 | $1,037 |
Fermi 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Decommissioning Fund Investments | 1,120 | 1,021 |
Fermi 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Decommissioning Fund Investments | 3 | 3 |
Low level radioactive waste [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Decommissioning Fund Investments | $16 | $13 |
Fair_Value_Details_4
Fair Value (Details 4) (Nuclear Decommissioning Trust Fund [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Nuclear Decommissioning Trust Fund [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Realized gains | $11 | $7 | $30 | $21 |
Realized losses | -11 | -6 | -25 | -17 |
Proceeds from sales of securities | $13 | $12 | $40 | $48 |
Fair_Value_Details_5
Fair Value (Details 5) (Nuclear Decommissioning Trust Fund [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Cash equivalents | $12 | $7 |
Nuclear decommissioning trusts | 1,139 | 1,037 |
Unrealized Gains | 212 | 149 |
Equity securities [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Equity Securities | 732 | 631 |
Unrealized Gains | 195 | 122 |
Debt securities [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Debt securities | 395 | 399 |
Unrealized Gains | 17 | 27 |
Cash and cash equivalents [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Unrealized Gains | $0 | $0 |
Fair_Value_Details_Textuals
Fair Value (Details Textuals) (USD $) | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Restricted Assets [Member] | Restricted Assets [Member] | Other Investments [Member] | Other Investments [Member] | Other Investments [Member] | Other Investments [Member] | Nuclear Decommissioning Trust Fund [Member] | Nuclear Decommissioning Trust Fund [Member] | Fermi 2 [Member] | Fermi 2 [Member] | Fermi 1 [Member] | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Equity [Member] | Equity [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||||||||||||||
Cash equivalents | $61,000,000 | $116,000,000 | $61,000,000 | $116,000,000 | $44,000,000 | $102,000,000 | $17,000,000 | $14,000,000 | $12,000,000 | $7,000,000 | |||||||
Available-for-sale Securities, Fair Value Disclosure | 6,000,000 | 5,000,000 | |||||||||||||||
Transfers Between Levels 1, 2 and 3 | 0 | 0 | |||||||||||||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | ||||||||||||||||
Average Maturity of Debt Securities | 7 years | 6 years | |||||||||||||||
Unrealized losses recognized as regulatory assets | 38,000,000 | 44,000,000 | |||||||||||||||
Fermi I Corresponding Regulatory Asset Treatment | 0 | ||||||||||||||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | ||||||||||||||||
Unrealized Losses on Available for Sale Securities | 0 | 0 | |||||||||||||||
Trading Securities, Change in Unrealized Holding Gain (Loss) | $12,000,000 | $9,000,000 |
Financial_and_Other_Derivative2
Financial and Other Derivative Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivatives not designated as hedging instruments: | ||
Derivative Asset Fair Value Gross Asset | $5 | $1 |
Financial_and_Other_Derivative3
Financial and Other Derivative Instruments (Details 1) (FTR [Member]) | Sep. 30, 2013 |
dte.volumes | |
FTR [Member] | |
Derivative [Line Items] | |
Investment Contract Volume | 72,875 |
Financial_and_Other_Derivative4
Financial and Other Derivative Instruments (Details Textuals) (FTR [Member], USD $) | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
FTR [Member] | ||
Derivative [Line Items] | ||
Effect of Derivative Instruments Recoverable Through PSCR Mechanism | $3 | $7 |
Asset_Retirement_Obligations_D
Asset Retirement Obligations (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Asset Retirement Obligation Disclosure [Abstract] | |
Asset retirement obligations beginning of period | $1,557 |
Accretion | 72 |
Revision in estimated cash flows | 13 |
Liabilities Settled | -2 |
Asset retirement obligations end of period | $1,640 |
Regulatory_Matters_Details_Tex
Regulatory Matters (Details Textuals) (USD $) | Jul. 29, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Oct. 17, 2013 | Jul. 30, 2012 | Jun. 28, 2018 | Jun. 28, 2020 |
MPSC [Member] | MPSC [Member] | MPSC [Member] | MPSC [Member] | Five Year (Minimum) [Member] | Seven Year (Maximum) [Member] | ||
Regulatory Asset and Liability [Line Items] | |||||||
Transition PLD customers to DTE Electric distribution system | 5 years | 7 years | |||||
Rate increase previously authorized by the MPSC challeged by Court of Appeals affirmed by the MPSC | $8,000,000 | ||||||
Rate Base Amount related to Advanced Metering Infrasctructure Program reopened related to previously approved order | 55,000,000 | ||||||
PSCR under-recovery from One Plan Year Prior | 87,000,000 | ||||||
PSCR Under-Recovery from Two Plan Years Prior | 148,000,000 | ||||||
Two Plan Years Prior PSCR Reconciliation included amount of Purchased Power Cost Related to Manual Shutdown of Fermi 2 | 30,000,000 | ||||||
Fermi 2 Production Level of Full Capacity | 68.00% | ||||||
Monthly Funding Factor for all Michigan Electric utilities participating in Low Income Energy Assistance Fund | $0.99 |
LongTerm_Debt_Details_1
Long-Term Debt (Details 1) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $775 | |
Mortgages [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.65% | 4.00% |
Debt Instrument, Face Amount | $400 | $375 |
LongTerm_Debt_Details_2
Long-Term Debt (Details 2) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Extinguishment of Debt [Line Items] | |
Extinguishment of Debt, Amount | $491 |
Securitization Bonds [Member] | |
Extinguishment of Debt [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 6.42% |
Extinguishment of Debt, Amount | 88 |
Tax Exempt Revenue Bonds [Member] | |
Extinguishment of Debt [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 5.30% |
Extinguishment of Debt, Amount | 51 |
Long Term Debt, Other [Member] | |
Extinguishment of Debt [Line Items] | |
Extinguishment of Debt, Amount | $13 |
ShortTerm_Credit_Arrangements_1
Short-Term Credit Arrangements and Borrowings (Details Textuals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Short-term Debt [Line Items] | ||
Revolving Credit Facilities with a Syndicate Number of Banks | 19 | |
Number of Banks that Provide Percentage of Commitment in any Facility | 1 | |
Maximum Percentage of Commitment to Bank in any Facility | 8.70% | |
Maximum Total Funded Debt to Total Capitalization Ratio | 0.65 | |
Total Funded Debt to Total Capitalization Ratio | 0.53 | |
Commercial Paper [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Amount Outstanding | $11 | $130 |
Unsecured revolving credit facility expiring April 2018 [Member] | Revolving Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $300 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details Textuals) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | Jul. 18, 2013 | |
facilities | |||
dte_instances | |||
Loss Contingencies [Line Items] | |||
Environmental Capital Expenditures Through Current Year | $1,900,000,000 | ||
Environmental Capital Expenditures in Current Year | 190,000,000 | ||
Environmental Capital Expenditures In Future Years | 1,800,000,000 | ||
EPA is Alleging DTE Electric Power Plants Violated New Source Performance Standards | 5 | ||
Number of NOVs/FOVs currently being discussed with the EPA | 2 | ||
Sierra Club is Alleging DTE Electric Coal-Fired Power Plants Violated the Clean Air Act | 4 | ||
Exceedances of Opacity Standard | 1,499 | ||
Period of excess opacity of air emissions at alleged facilities | 6 minutes | ||
Number of Former MGP Sites | 3 | ||
Site Contingency, Accrual, Undiscounted Amount | 9,000,000 | 9,000,000 | |
Number of Options to Regulate Coal Ash Residue | 2 | ||
EPA Sulfur Dioxide Ambient AIr Quality Standard | 1 hour | ||
Waiting Period of Policy | P12W | ||
Insurance Coverage for Extra Expense When to Necessitate Power Plant when Unavailable | 490,000,000 | ||
Period of Coverage of Policy for Extra Expenses | P3Y | ||
Primary Coverage | 500,000,000 | ||
Coverage for Stabilization Decontamination Debris Removal Repair and Replacement of Property and Decommissioning | 2,250,000,000 | ||
Combined Coverage Limit for Total Property Damage | 2,750,000,000 | ||
Insurance Deductible for Nuclear Power Plant | 1,000,000 | ||
Total Limit for Property Damage for Non-Nuclear Event | 1,800,000,000 | ||
Limit for Property Damage for Non-Nuclear Events Aggregate of Extra Expenses | 327,000,000 | ||
Limit for Property Damage for Non-Nuclear Events Aggregate of Extra Expenses of Period | 2 years | ||
Time Period for TRIA Insurance after the First Loss from Terrorism | 1 year | ||
NEIL Policies Against Terrorism Loss | 3,200,000,000 | ||
Amount per Event Loss Associated with Nuclear Power Plants | 34,000,000 | ||
Maintenance of Public Liability Insurance for Nuclear Power Plants | 375,000,000 | ||
Aggregate Limit of Liabilities Arises From Terrorist Act Outside Scope of Trials Subject to One Industry | 300,000,000 | ||
Maximum Deferred premium charges levied against each licensed nuclear facility | 127,300,000 | ||
Limit Deferred Premium Charges Per Year | 19,000,000 | ||
Company Obligated to Pay DOE Fee of Fermi 2 Electricity Generated and Sold | 1 | ||
Payment from the DOE for Delaying Acceptance of Spent Nuclear Fuel | 48,000,000 | ||
Long-term Purchase Commitment, Amount | 2,600,000,000 | ||
Estimated future capital expenditures for remainder of the year | 1,500,000,000 | ||
Bankruptcy Claims, Amount of Claims under Review by Management | $20,000,000 |
Retirement_Benefits_and_Truste2
Retirement Benefits and Trusteed Assets Retirement Benefits and Trusted Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service Cost | $17 | $15 | $55 | $48 |
Interest Cost | 36 | 38 | 109 | 116 |
Expected Return on Plan Assets | -45 | -41 | -138 | -124 |
Amortization of Net Acutuarial Losses | 39 | 33 | 111 | 93 |
Amortization of Prior Service Cost (Credit) | 1 | 0 | 1 | 0 |
Amortization of Net Transition Liability | 0 | 0 | ||
Settlements | 0 | 2 | ||
Net Periodic Benefit Cost | 48 | 45 | 138 | 135 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service Cost | 6 | 11 | 27 | 38 |
Interest Cost | 16 | 23 | 50 | 69 |
Expected Return on Plan Assets | -18 | -15 | -55 | -46 |
Amortization of Net Acutuarial Losses | 12 | 16 | 36 | 44 |
Amortization of Prior Service Cost (Credit) | -27 | -4 | -72 | -12 |
Amortization of Net Transition Liability | 0 | 1 | ||
Settlements | 0 | 0 | ||
Net Periodic Benefit Cost | ($11) | $31 | ($14) | $94 |
Retirement_Benefits_and_Truste3
Retirement Benefits and Trusteed Assets Retirement Benefits and Trusteed Assets (Details Textuals) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Retiree Health Care Allowance | $3,250 | |
Remeasurement Reduction to Post Retirement Benefit Obligation | 192,000,000 | 335,000,000 |
Remeasurement Reduction to Post Retirement Benefit Obligation Liability | 661,000,000 | 996,000,000 |
Remeasurement Decrease in Benefit Cost for Postretirement Plans | 51,000,000 | |
Annual Decrease in Other Postretirement Benefits Costs due to Remeasurement | 23,000,000 | |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension Contributions | 250,000,000 | |
Estimated Future Employer Contributions in Current Fiscal Year | 25,000,000 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Contributions by Employer | 120,000,000 | |
Estimated Future Employer Contributions in Current Fiscal Year | 120,000,000 | |
Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.30% | 4.15% |
Common Stock [Member] | Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension Contributions | $200,000,000 |