DTE Energy 2012 Annual Report Download - page 30
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Table of Contents
ELECTRIC
Our Electric segment consists principally of DTE Electric.
Electric results are discussed below:
Operating Revenues
$5,154
$4,993
Fuel and Purchased Power
1,716
1,580
Gross Margin
3,438
3,413
Operation and Maintenance
1,370
1,305
Depreciation and Amortization
818
849
Taxes Other Than Income
240
237
Asset (Gains) and Losses, Reserves and Impairments, Net
13
(6)
Operating Income
997
1,028
Other (Income) and Deductions
298
317
Income Tax Expense
265
270
Net Income Attributable to DTE Energy Company
$ 434
$441
Operating Income as a Percent of Operating Revenues
19%
21%
Gross margin increased $97 million in 2012 and increased $25 million in 2011. Revenues associated with certain tracking mechanisms and
surcharges are offset by related expenses elsewhere in the Consolidated Statement of Operations.
The following table details changes in various gross margin components relative to the comparable prior period:
2011 rate case increase and weather effect, net of 2011 RDM
$ 29
Restoration tracker, discontinued in October 2011
27
Securitization bond and tax surcharge
(39)
Renewable energy program
26
Energy optimization performance incentive
17
Low Income Energy Efficiency Fund revenue deferral
(23)
Regulatory mechanisms and other
(12)
Increase in gross margin
$ 25
Residential
15,907
15,726
Commercial
16,779
16,570
Industrial
9,739
10,195
Other
3,136
3,210
45,561
45,701
Interconnection sales (a)
3,512
4,876
Total Electric Sales
49,073
50,577
Retail and Wholesale
45,561
45,701
Electric Customer Choice, including self generators
5,445
5,005
Total Electric Sales and Deliveries
51,006
50,706
______________________________
(a) Represents power that is not distributed by DTE Electric.
Operation and maintenance expense increased $59 million in 2012 and increased $65 million in 2011. The increase in 2012 is primarily due to
higher employee benefit expenses of $53 million, increased energy optimization and renewable energy expenses of $17 million, higher power plant generation
expenses of $12 million, increased distribution operations expenses of $4 million and higher expenses for low income energy assistance of $4 million, partially
offset by reduced restoration and line clearance expenses of $22 million and reduced uncollectible expenses of $9 million. The increase in 2011 is primarily
due to higher restoration and line clearance expenses of $41 million, higher generation maintenance and outage expenses of
28