<HTML> <HEAD> <TITLE></TITLE> </HEAD> <BODY bgcolor="#FFFFFF"> <!-- PAGEBREAK --> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV align="center"> <HR size="1" width="100%" align="center"> </DIV> <DIV align="center"> <HR size="1" width="100%" align="center"> </DIV> <P align="center"> <B><FONT size="4">SECURITIES AND EXCHANGE COMMISSION</FONT></B> <DIV align="center"> <B>Washington, D.C. 20549</B> </DIV> <P align="center"> <HR size="1" width="30%" align="center"> <P align="center"> <B><FONT size="5">FORM 10-Q</FONT></B> <P align="center"> <B><FONT size="4">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)</FONT></B> <DIV align="center"> <B><FONT size="4">OF THE SECURITIES EXCHANGE ACT OF 1934</FONT> </B> </DIV> <P align="center"> <B>For the Quarter Ended June 30, 1999</B> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="33%"> </TD> <TD width="3%"> </TD> <TD width="37%"> </TD> <TD width="3%"> </TD> <TD width="24%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Registrants; State of</B></FONT></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap><FONT size="2"><B>Commission</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Incorporation; Address; and</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>I.R.S. Employer</B></FONT></TD> </TR> <TR> <TD align="center" nowrap><FONT size="2"><B>File Number</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Telephone Number</B></FONT></TD> <TD></TD> <TD align="center" nowrap><FONT size="2"><B>Identification No.</B></FONT></TD> </TR> <TR> <TD align="center" nowrap><HR size="1"></TD> <TD></TD> <TD align="center" nowrap><HR size="1"></TD> <TD></TD> <TD align="center" nowrap><HR size="1"></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> 1-11607</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company<BR> (a Michigan corporation)<BR> 2000 2nd Avenue<BR> Detroit, Michigan 48226-1279<BR> 313-235-4000</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 38-3217752</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> 1-2198</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> The Detroit Edison Company<BR> (a Michigan corporation)<BR> 2000 2nd Avenue<BR> Detroit, Michigan 48226-1279<BR> 313-235-8000</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 38-0478650</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. <DIV align="right"> <B>Yes <U>X</U> No <U> </U></B> </DIV> <P align="left"> At June 30, 1999, 145,045,159 shares of DTE Energy’s Common Stock, substantially all held by non-affiliates, were outstanding. <DIV align="center"> <HR size="1" width="100%" align="center"> </DIV> <DIV align="center"> <HR size="1" width="100%" align="center"> </DIV> <!-- PAGEBREAK --> <P><HR noshade><P> <!-- TOC --> <A name="toc"><DIV align="CENTER"><U><B>TABLE OF CONTENTS</B></U></DIV></A> <P><CENTER> <TABLE border="0" width="90%" cellpadding="0" cellspacing="0"> <TR> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="3%"></TD> <TD width="76%"></TD> </TR> <TR><TD colspan="9"><A HREF="#000">DEFINITIONS</A></TD></TR> <TR><TD colspan="9"><A HREF="#001">QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#002">PART I — FINANCIAL INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#003">Item 1 — Condensed Consolidated Financial Statements (Unaudited).</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#004">Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations.</A></TD></TR> <TR><TD colspan="9"><A HREF="#005">QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#006">PART II — OTHER INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#007">Item 4 — Submission of Matters to a Vote of Security Holders.</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#008">Item 5 — Other Information.</A></TD></TR> <TR><TD colspan="9"><A HREF="#009">QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#010">PART I — FINANCIAL INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#011">Item 1 — Condensed Consolidated Financial Statements (Unaudited).</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#012">Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations.</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#013">PART II — OTHER INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#014">Item 5 — Other Information.</A></TD></TR> <TR><TD colspan="9"><A HREF="#015">QUARTERLY REPORTS ON FORM 10-Q FOR DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#016">Item 6 — Exhibits and Reports on Form 8-K.</A></TD></TR> <TR><TD colspan="9"><A HREF="#017">SIGNATURES</A></TD></TR> <TR><TD colspan="9"><A HREF="#018">SIGNATURES</A></TD></TR> </TABLE> </CENTER> <!-- /TOC --> <P><HR noshade><P> <P align="center"><B>DTE ENERGY COMPANY</B> <DIV align="center"> <B>and</B> </DIV> <DIV align="center"> <B>THE DETROIT EDISON COMPANY</B> </DIV> <DIV align="center"> <B>FORM 10-Q</B> </DIV> <DIV align="center"> <B>For The Quarter Ended June 30, 1999</B> </DIV> <P align="left"> This document contains the Quarterly Reports on Form 10-Q for the quarter ended June 30, 1999 for each of DTE Energy Company and The Detroit Edison Company. Information contained herein relating to an individual registrant is filed by such registrant on its own behalf. Accordingly, except for its subsidiaries, The Detroit Edison Company makes no representation as to information relating to any other companies affiliated with DTE Energy Company. <P align="center"><B>TABLE OF CONTENTS</B> <CENTER> <TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="84%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Page</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Definitions</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Quarterly Report on Form 10-Q for DTE Energy Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part I — Financial Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 1 — Financial Statements</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">20</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part II — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">28</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 4 — Submission of Matters to a Vote of Security Holders</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">28</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 5 — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">29</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Quarterly Report on Form 10-Q for The Detroit Edison Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part I — Financial Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">30</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 1 — Financial Statements</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">30</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">30</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Part II — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">30</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 5 — Other Information</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">30</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Quarterly Reports on Form 10-Q for DTE Energy Company and The Detroit Edison Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 6 — Exhibits and Reports on Form 8-K</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">31</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Signature Page to DTE Energy Company Quarterly Report on Form 10-Q</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">39</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> Signature Page to The Detroit Edison Company Quarterly Report on Form 10-Q</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">40</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "DEFINITIONS" --> <DIV align="left"><A NAME="000"></A></DIV> <DIV align="center"> <B>DEFINITIONS</B> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="34%"> </TD> <TD width="3%"> </TD> <TD width="63%"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Annual Report</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 1998 Annual Report to the Securities and Exchange Commission on Form 10-K for DTE Energy Company or The Detroit Edison Company, as the case may be</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Annual Report Notes</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Notes to Consolidated Financial Statements appearing on pages 45 through 72 and 76 through 79 of the 1998 Annual Report to the Securities and Exchange Commission on Form 10-K for DTE Energy Company and The Detroit Edison Company, as the case may be</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Company</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company and Subsidiary Companies</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Detroit Edison</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> The Detroit Edison Company (a wholly owned subsidiary of DTE Energy Company) and Subsidiary Companies</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Direct Access</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Gives all retail customers equal opportunity to utilize the transmission system which results in access to competitive generation resources</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> DTE Capital</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Capital Corporation (a wholly owned subsidiary of DTE Energy Company)</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> EPA</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> United States Environmental Protection Agency</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> FERC</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Federal Energy Regulatory Commission</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> kWh</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Kilowatthour</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> MPSC</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Michigan Public Service Commission</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> MW</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Megawatt</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> MWh</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Megawatthour</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Note(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Note(s) to Condensed Consolidated Financial Statements (Unaudited) appearing herein</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> PSCR</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Power Supply Cost Recovery</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Quarterly Report</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Quarterly Report to the Securities and Exchange Commission on Form 10-Q for DTE Energy Company or The Detroit Edison Company, as the case may be, for the quarter ended March 31, 1999</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Quarterly Report Notes</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Notes to Condensed Consolidated Financial Statements (Unaudited) appearing on pages 16 through 18 of the Quarterly Report to the Securities and Exchange Commission on Form 10-Q for the quarter ended March 31, 1999 for DTE Energy Company and The Detroit Edison Company, as the case may be</FONT></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Registrant</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Company or Detroit Edison, as the case may be</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">3 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY" --> <DIV align="left"><A NAME="001"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</B> </DIV> <!-- link2 "PART I — FINANCIAL INFORMATION" --> <DIV align="left"><A NAME="002"></A></DIV> <DIV align="center"> <B>PART I — FINANCIAL INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 1 — Condensed Consolidated Financial Statements (Unaudited)." --> <DIV align="left"><A NAME="003"></A></DIV> <DIV align="left"> <B>Item 1 — Condensed Consolidated Financial Statements (Unaudited).</B> </DIV> <P align="left"> The following condensed consolidated financial statements (unaudited) are included herein. <CENTER> <TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="87%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Page</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> DTE Energy Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Balance Sheet</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Cash Flows</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Changes in Shareholders’ Equity</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> The Detroit Edison Company:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Balance Sheet</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Cash Flows</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Condensed Consolidated Statement of Changes in Shareholder’s Equity</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">15</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Notes to Condensed Consolidated Financial Statements (Unaudited)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">16</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Independent Accountants’ Report</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">19</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="4%"></TD> <TD width="96%"></TD> </TR> <TR valign="top"> <TD>Note: </TD> <TD align="left"> Detroit Edison’s Condensed Consolidated Financial Statements are presented here for ease of reference and are not considered to be part of Item I of the Company’s report.</TD> </TR> </TABLE> <P align="center">4 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Income (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts)</B> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="50%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="1%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD colspan="7"></TD> <TD></TD> <TD colspan="3"></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Six Months Ended</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Operating Revenues</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,150</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,064</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,174</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,009</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Operating Expenses</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel and purchased power</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">322</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">285</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">553</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">493</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Operation and maintenance</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">364</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">300</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">689</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">568</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">182</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">162</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">364</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">327</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Taxes other than income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">71</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">69</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">142</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">140</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Operating Expenses</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">939</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">816</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,748</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,528</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Operating Income</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">211</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">248</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">426</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">481</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Interest Expense and Other</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Interest expense</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">82</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">79</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">165</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">153</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Preferred stock dividends of subsidiary</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other — net</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Interest Expense and Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">88</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">86</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">174</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">163</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Income Before Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">123</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">162</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">252</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">318</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">13</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">61</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">27</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">113</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Net Income</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">110</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">101</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">225</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">205</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Average Common Shares Outstanding</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Earnings per Common Share —</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Basic and Diluted</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">0.76</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">0.69</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1.55</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1.41</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">5 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Balance Sheet (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts and Shares)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="62%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>ASSETS</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Current Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Cash and cash equivalents</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">35</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">130</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Restricted cash</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">123</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">121</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Customer (less allowance for doubtful accounts of $21 and $20, respectively)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">346</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">316</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued unbilled revenues</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">203</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">153</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">107</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">135</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Inventories (at average cost)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">165</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">171</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Materials and supplies</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">156</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">167</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">117</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">39</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,252</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,232</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Investments</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear decommissioning trust funds</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">339</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">309</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">242</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">261</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">581</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">570</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Property</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property, plant and equipment</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,364</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,121</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property under capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">234</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">242</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear fuel under capital lease</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">662</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">659</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Construction work in progress</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">200</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">156</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,460</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,178</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> Less accumulated depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,411</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,235</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">7,049</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6,943</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Regulatory Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,026</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,091</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Other Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">273</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">252</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Assets</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,181</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,088</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">6 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="65%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>LIABILITIES AND SHAREHOLDERS’ EQUITY</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Current Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accounts payable</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">233</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">239</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued interest</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">56</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">57</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Dividends payable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">75</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">75</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued payroll</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">87</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">101</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">407</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">231</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Deferred income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">90</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">60</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">378</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">294</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">98</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">118</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">191</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">217</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,615</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,392</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Other Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Deferred income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,893</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,888</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">119</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">126</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Regulatory liabilities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">282</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">294</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">538</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">493</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,832</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,801</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Long-Term Debt</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,963</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4,197</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Shareholders’ Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Common stock, without par value, 400,000,000 shares authorized, 145,045,159 and 145,071,317 issued and outstanding, respectively</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,950</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,951</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Retained earnings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,821</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,747</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,771</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,698</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Contingencies (Note 4)</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Liabilities and Shareholders’ Equity</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,181</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12,088</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">7 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Cash Flows (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions)</B> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="51%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="1%"> </TD> <TD width="1%"> </TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD colspan="7"></TD> <TD></TD> <TD colspan="3"></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Six Months Ended</B></FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Operating Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Net Income</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">110</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">101</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">225</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">205</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Adjustments to reconcile net income to net cash from operating activities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">182</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">162</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">364</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">327</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(25</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(6</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">20</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(3</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Changes in current assets and liabilities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Restricted cash</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">8</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(8</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(74</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(95</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(52</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Inventories</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(10</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(42</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">17</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(30</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Payables</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">48</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">55</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">60</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">56</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">46</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(119</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(51</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net cash from operating activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">295</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">229</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">451</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">452</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Investing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Plant and equipment expenditures</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(194</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(116</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(356</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(241</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Investment in coke oven battery businesses</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(200</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Nuclear decommissioning trust funds</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(12</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(12</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(30</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(41</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(28</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(17</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(30</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(11</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net cash used for investing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(234</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(145</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(416</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(493</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Financing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Issuance of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">200</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">200</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Increase (decrease) in short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">127</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(115</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">176</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">262</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Redemption of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(120</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(18</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(157</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(187</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Redemption of preferred stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(100</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(100</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Dividends on common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(74</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(75</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(149</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(149</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net cash (used for) from financing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(67</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(105</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(130</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">28</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Net Decrease in Cash and Cash Equivalents</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(6</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(21</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(95</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(13</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at Beginning of the Period</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">41</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">53</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">130</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">45</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at End of the Period</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">35</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">32</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">35</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">32</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Supplementary Cash Flow Information</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Interest paid (excluding interest capitalized)</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">81</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">61</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">165</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">146</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Income taxes paid</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">7</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">30</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">36</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">66</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> New capital lease obligations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">31</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">48</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">8 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>DTE Energy Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Changes in Shareholders’ Equity (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts; Shares in Thousands)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="70%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Shares</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Amount</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Common Stock</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145,071</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,951</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Repurchase and retirement of common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(26</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(1</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145,045</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,950</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Retained Earnings</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,747</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">225</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Dividends declared on common stock ($1.03 per share)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(149</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Repurchase and retirement of common stock</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(1</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(1</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,821</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Shareholders’ Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,771</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">9 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"> [This page intentionally left blank.] <P align="center">10 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Income (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions)</B> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="54%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="1%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD colspan="7"></TD> <TD></TD> <TD colspan="3"></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Six Months Ended</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Revenues</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,006</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">992</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,917</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,893</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Expenses</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel and purchased power</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">277</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">266</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">483</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">474</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Operation and maintenance</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">261</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">247</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">498</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">470</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">173</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">161</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">346</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">324</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Taxes other than income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">70</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">70</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">141</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">140</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Operating Expenses</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">781</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">744</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,468</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,408</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Operating Income</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">225</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">248</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">449</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">485</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Interest Expense and Other</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Interest expense</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">69</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">68</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">137</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">136</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other — net</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(1</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total Interest Expense and Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">68</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">73</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">139</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">146</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Income Before Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">157</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">175</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">310</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">339</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Income Taxes</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">50</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">80</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">99</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">146</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Net Income</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">107</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">95</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">211</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">193</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Preferred Stock Dividends</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Net Income Available for Common Stock</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">107</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">93</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">211</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">188</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">11 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <DIV align="center"> <B>Condensed Consolidated Balance Sheet (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts and Shares)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="62%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>ASSETS</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Current Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Cash and cash equivalents</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">23</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Customer (less allowance for doubtful accounts of $20)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">315</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">307</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued unbilled revenues</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">203</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">153</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">60</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">90</FONT></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Inventories (at average cost)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Fuel</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">165</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">171</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Materials and supplies</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">137</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">138</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">87</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">21</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">990</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">885</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Investments</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear decommissioning trust funds</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">339</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">309</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">33</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">74</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">372</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">383</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Property</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property, plant and equipment</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10,822</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10,610</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Property under capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">234</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">242</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Nuclear fuel under capital lease</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">662</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">659</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Construction work in progress</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">121</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">118</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,839</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,629</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> Less accumulated depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,359</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,201</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6,480</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6,428</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Regulatory Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,026</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,091</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Other Assets</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">218</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">200</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Assets</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,086</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10,987</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">12 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="65%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>December 31</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>LIABILITIES AND SHAREHOLDER’S EQUITY</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Current Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accounts payable</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">204</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">211</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued interest</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">53</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">54</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Dividends payable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">80</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">80</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Accrued payroll</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">83</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">86</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">404</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">231</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Deferred income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">90</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">60</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">294</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">219</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Current portion capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">98</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">118</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">163</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">203</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,469</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,262</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Other Liabilities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Deferred income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,854</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,846</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Capital leases</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">119</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">126</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Regulatory liabilities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">282</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">294</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">530</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">484</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,785</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,750</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Long-Term Debt</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,268</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,462</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Shareholder’s Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Common stock, $10 par value, 400,000,000 shares authorized, 145,119,875 issued and outstanding</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Premium on common stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Common stock expense</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Retained earnings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,613</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,562</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,564</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,513</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="3" align="left" valign="top"><FONT size="2"> <B>Contingencies (Note 4)</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> <B>Total Liabilities and Shareholder’s Equity</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,086</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10,987</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">13 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Cash Flows (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions)</B> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="51%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="1%"> </TD> <TD width="1%"> </TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD colspan="7"></TD> <TD></TD> <TD colspan="3"></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Six Months Ended</B></FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>June 30</B></FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Operating Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Net Income</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">107</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">95</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">211</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">193</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Adjustments to reconcile net income to net cash from operating activities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Depreciation and amortization</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">173</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">161</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">346</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">324</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(19</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(36</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">46</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(37</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Changes in current assets and liabilities:</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Accounts receivable</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(60</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(84</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(27</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(30</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Inventories</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(11</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(36</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(34</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Payables</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">40</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">27</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(3</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">49</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">70</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">50</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(108</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(58</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net cash from operating activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">300</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">177</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">470</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">407</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Investing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Plant and equipment expenditures</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(159</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(102</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(284</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(220</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Nuclear decommissioning trust funds</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(12</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(12</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(30</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(41</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(53</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(1</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(32</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(4</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net cash used for investing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(224</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(115</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(346</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(265</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Financing Activities</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Issuance of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Increase in short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">124</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">23</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">173</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">187</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Redemption of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(100</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(119</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(169</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Redemption of preferred stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(100</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(100</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Dividends on common and preferred stock</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(80</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(83</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(160</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(165</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Other</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Net cash used for financing activities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(56</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(56</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(106</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(144</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Net Increase (Decrease) in Cash and Cash Equivalents</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">20</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">6</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">18</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at Beginning of the Period</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">7</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">15</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Cash and Cash Equivalents at End of the Period</B></FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">23</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">13</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">23</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">13</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="5"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="5" align="left" valign="top"><FONT size="2"> <B>Supplementary Cash Flow Information</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Interest paid (excluding interest capitalized)</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">61</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">58</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">139</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">137</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> Income taxes paid</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">41</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">53</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">67</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">111</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="4" align="left" valign="top"><FONT size="2"> New capital lease obligations</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">17</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">31</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">14 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>The Detroit Edison Company</B> <DIV align="center"> <B>Condensed Consolidated Statement of Changes in Shareholder’s Equity (Unaudited)</B> </DIV> <DIV align="center"> <B>(Millions, Except Per Share Amounts; Shares in Thousands)</B> </DIV> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="73%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>1999</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Shares</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Amount</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Common Stock</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145,120</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">145,120</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,451</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Premium on Common Stock</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">548</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Common Stock Expense</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Retained Earnings</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at beginning of year</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,562</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">211</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Dividends declared on common stock ($1.10 per share)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(160</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,613</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> <B>Total Shareholder’s Equity</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,564</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center"> See Notes to Condensed Consolidated Financial Statements (Unaudited). <P align="center">15 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>DTE Energy Company and The Detroit Edison Company</B> <DIV align="left"> <B>Notes to Condensed Consolidated Financial Statements (Unaudited)</B> </DIV> <P align="left"><B>NOTE 1 — ANNUAL REPORT NOTES</B> <P align="left"> These condensed consolidated financial statements (unaudited) should be read in conjunction with the Annual Report Notes and the Quarterly Report Notes. The Notes contained herein update and supplement matters discussed in the Annual Report Notes and the Quarterly Report Notes. <P align="left"> The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. <P align="left"> The condensed consolidated financial statements are unaudited, but in the opinion of the Company and Detroit Edison, with respect to its own financial statements, include all adjustments necessary for a fair statement of the results for the interim periods. 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. <P align="left"><B>NOTE 2 — REGULATORY MATTERS</B> <P align="left"> As discussed in Note 2 of the Annual Report, proceedings were pending regarding Detroit Edison’s recovery of certain extraordinary storm costs. On June 11, 1999, in an unpublished opinion, the Michigan Court of Appeals remanded back to the MPSC for hearing a November 1997 order that permitted Detroit Edison to amortize extraordinary storm damage expenses incurred in 1997 over the following two years. The MPSC had approved Detroit Edison’s request to offset the storm damage expense against a $53 million revenue requirement reduction from the 1988 Fermi settlement on an ex-parte basis. The Attorney General appealed the MPSC ruling. Detroit Edison filed a motion for rehearing with the Michigan Court of Appeals on July 1. Detroit Edison is unable to determine the timing or the outcome of these proceedings. <P align="left"><B>NOTE 3 — SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS </B> <P align="left"> At June 30, 1999, Detroit Edison had total short-term credit arrangements of approximately $703 million under which $404 million was outstanding. The amounts outstanding at June 30, 1999 consisted of $204 million of commercial paper and $200 million secured by its customer accounts receivable and unbilled revenue portfolio. <P align="left"> At June 30, 1999, DTE Capital had short-term credit arrangements of $400 million, backed by a Support Agreement from the Company, under which approximately $3 million was outstanding. <P align="left"> In June 1999, the Company entered into an additional $50 million Support Agreement with DTE Capital for the purpose of DTE Capital’s credit enhancing activities on behalf of DTE Energy affiliates. The Company has entered into a total of $550 million of Support Agreements with DTE Capital for this purpose. <P align="center">16 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>NOTE 4 — CONTINGENCIES</B> <P align="left"><B>Legal Proceedings</B> <P align="left"> Detroit Edison and plaintiffs in a class action pending in the Circuit Court for Wayne County, Michigan (<I>Gilford, et al</I> v. <I>Detroit Edison</I>), as well as plaintiffs in two other pending actions which make class claims (<I>Sanchez, et al </I> v. <I>Detroit Edison</I>, Circuit Court for Wayne County, Michigan; and <I>Frazier</I> v. <I>Detroit Edison </I>, United States District Court, Eastern District of Michigan), are preparing for binding arbitration to settle these matters. A July 1998 Consent Judgement has received preliminary Court approval. A Fairness Hearing with respect to the terms of the settlement was held in August 1998, and no objections to the settlement were raised. A second Fairness Hearing is contemplated following the results of the arbitration. The settlement agreement provides that Detroit Edison’s monetary liability is to be no less than $17.5 million and no greater than $65 million after the conclusion of all related proceedings. Detroit Edison has accrued an amount considered to be probable. <P align="left"><B>NOTE 5 — SEGMENT AND RELATED INFORMATION</B> <P align="left"> Effective December 31, 1998, the Company adopted Statement of Financial Accounting Standards No. 131, “Disclosure about Segments of an Enterprise and Related Information.” The Company’s reportable business segment is its electric utility, Detroit Edison, which is engaged in the generation, purchase, transmission, distribution and sale of electric energy in a 7,600 square mile area in Southeastern Michigan. All other includes non-regulated energy-related businesses and services, which develop and manage electricity and other energy-related projects, and engage in domestic energy trading and marketing. Inter-segment revenues are not material. Financial data for business segments are as follows: <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="48%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="1%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="7%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="3"></TD> <TD></TD> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Reconciliations</B></FONT></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Electric</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>All</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>and</B></FONT></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Utility</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Other</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Eliminations</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Consolidated</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="15"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="15"><FONT size="2"><B>(Millions)</B></FONT></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Three Months Ended June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,006</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">144</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,150</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">107</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(7</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">110</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Six Months Ended June 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,917</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">257</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,174</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">211</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">24</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(10</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">225</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Three Months Ended June 30, 1998</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">992</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">72</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,064</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">93</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">101</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Six Months Ended June 30, 1998</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,893</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">116</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,009</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">188</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">19</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">205</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center">17 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"> <HR size="1" width="30%" align="center"> <P align="left"> This Quarterly Report on Form 10-Q, including the report of Deloitte & Touche LLP (on page 19) will automatically be incorporated by reference in the Prospectuses constituting part of the Registration Statements on Form S-3 (Registration Nos. 33-53207, 33-64296 and 333-65765) of The Detroit Edison Company and Form S-8 (Registration No. 333-00023) and Form S-3 (Registration No. 33-57545) of DTE Energy Company, filed under the Securities Act of 1933. Such report of Deloitte & Touche LLP, however, is not a “report” or “part of the Registration Statement” within the meaning of Sections 7 and 11 of the Securities Act of 1933 and the liability provisions of Section 11(a) of such Act do not apply. <P align="center">18 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>Independent Accountants’ Report</B> <P align="left"> To the Board of Directors and Shareholders of DTE Energy Company and <DIV align="left"> The Detroit Edison Company </DIV> <P align="left"> We have reviewed the accompanying condensed consolidated balance sheets of DTE Energy Company and subsidiaries and of The Detroit Edison Company and subsidiaries as of June 30, 1999, and the related condensed consolidated statements of income and cash flows for the three-month and six-month periods ended June 30, 1999 and 1998, and the condensed consolidated statements of changes in shareholders’ equity for the six-month period ended June 30, 1999. These financial statements are the responsibility of DTE Energy Company’s management and of The Detroit Edison Company’s management. <P align="left"> We conducted our reviews in accordance with standards established by the American Institute of Certified Public Accountants. A review of interim financial information consists principally of applying analytical procedures to financial data and of making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. <P align="left"> Based on our reviews, we are not aware of any material modifications that should be made to such condensed consolidated financial statements for them to be in conformity with generally accepted accounting principles. <P align="left"> We have previously audited, in accordance with generally accepted auditing standards, the consolidated balance sheets of DTE Energy Company and subsidiaries and of The Detroit Edison Company and subsidiaries as of December 31, 1998, and the related consolidated statements of income, changes in shareholders’ equity, and cash flows for the year then ended (not presented herein); and in our report dated January 27, 1999, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed consolidated balance sheets as of December 31, 1998 is fairly stated, in all material respects, in relation to the consolidated balance sheets from which it has been derived. <P align="left"> DELOITTE & TOUCHE LLP <P align="left"> Detroit, Michigan <DIV align="left"> July 28, 1999 </DIV> <P align="center">19 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link3 "Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations." --> <DIV align="left"><A NAME="004"></A></DIV> <DIV align="left"> <B>Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations.</B> </DIV> <P align="left"> This analysis for the three and six months ended June 30, 1999, as compared to the same periods in 1998, should be read in conjunction with the condensed consolidated financial statements (unaudited), the accompanying Notes, the Quarterly Report Notes and the Annual Report Notes. <P align="left"> Detroit Edison is the principal operating subsidiary of the Company and, as such, unless otherwise identified, this discussion explains material changes in results of operations of both the Company and Detroit Edison and identifies recent trends and events affecting both the Company and Detroit Edison. <P align="left"><B>GROWTH</B> <P align="left"> As discussed in the Annual Report, in order to sustain earnings growth with an objective of 6% growth annually, the Company and Detroit Edison have developed a business strategy focused on core competencies, consisting of expertise in developing, managing and operating energy assets, including coal sourcing, blending and transportation skills. As part of this strategy it is expected that one new line of business will be developed in 1999 through acquisition or start-up. One area of focus may be in expanding the Company’s knowledge of the natural gas markets. A broader involvement in the gas industry may allow the Company to explore additional growth opportunities. <P align="left"> A new record electrical demand of 11,027 MW was set in June 1999. Detroit Edison was able to meet the record demand through careful planning and implementation of a summer electricity supply plan. <P align="left"><B>ELECTRIC INDUSTRY RESTRUCTURING</B> <P align="left"> Various bills have been introduced in the Michigan Legislature addressing competition in the electric markets. The Company and Detroit Edison are reviewing these bills; and the impact, if any, of the adoption and implementation of one or more of these legislative proposals is unknown. Detroit Edison is proceeding with the implementation of Direct Access as provided for in MPSC Orders. <P align="left"><B>Michigan Public Service Commission</B> <P align="left"> On March 31, 1999, Detroit Edison filed an application with the MPSC for true-up of its stranded costs, including Direct Access implementation costs. Detroit Edison requested that the proceedings be conducted in two phases. The first phase should <P align="center">20 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> involve only a prudency review of incurred implementation costs, approval of forecasted spending, allocation of implementation costs among customers and the timing of cost recovery. The second phase should be structured to address the remaining true-up issues, including: the appropriate stranded cost balances, the appropriate level of the transition charge, the establishment of the mechanics of the true-up and stranded cost recovery processes, and to address policy issues such as Detroit Edison’s billing and metering rights and obligations in a restructured electric utility industry. <P align="left"> On May 11, 1999, the MPSC issued an order in the 1997 PSCR Reconciliation Case determining that PSCR costs were underrecovered by $2.7 million, including interest, and, when combined with Fermi 2 performance standard requirements, a refund to PSCR customers of $19.8 million was required. A refund to certain industrial customers in conjunction with the Fermi 2 performance standard requirements of $1.2 million was also ordered by the MPSC. The above refunds were accrued for in a prior year. <P align="left"> On May 11, 1999, a procedural schedule was established in the case to determine the methodology for the true-up of expenses associated with the MPSC’s electric choice program. Detroit Edison is required to file separately for approval of implementation costs and approval of policies surrounding those costs. An order is not expected to be issued before the fourth quarter of 1999. <P align="left"> On June 4, 1999, Detroit Edison indicated in its filing of implementation costs that it had incurred $7.5 million of expenses in 1998 and $4 million of expenses in the first quarter of 1999 for the implementation of electric choice. It also indicated that total expenses of $120 million for electric choice implementation were anticipated through the end of 2001. <P align="left"> On July 22, 1999, the Association of Businesses Advocating Tariff Equity (ABATE) made a filing with the MPSC indicating that Detroit Edison’s retail rates produce approximately $333 million of excess revenues. Of this amount, approximately $202 million is related to ABATE’s proposed reversal of the December 28, 1998 MPSC order authorizing the accelerated amortization of Fermi 2. Detroit Edison expects to file testimony in September 1999 opposing ABATE’s request. A final MPSC order is not expected until spring 2000. Detroit Edison is unable to predict the outcome of this proceeding. <P align="left"><B>Direct Access Experiment</B> <P align="left"> On May 7, 1999, a lottery was held to determine which eligible customers that had applied to participate in the 90 MW Direct Access pilot program would be awarded access to the available capacity. Approximately 383 MW of load filed to participate, 7 customers totaling 110 MW of capacity were successful applicants. These applicants are now arranging for alternate suppliers, and will be served whenever they complete all of the necessary requirements. <P align="left"> On June 29, 1999, the Michigan Supreme Court, on a 4-3 vote, released an opinion determining that the MPSC lacked authority to order retail wheeling. The Court reversed an earlier Michigan Court of Appeals opinion finding such authority and vacated two MPSC orders directing implementation of an experimental retail wheeling program. The Court explained that the MPSC possesses no common law powers and <P align="center">21 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> may only exercise authority clearly conferred upon it by the Legislature. It stated that retail wheeling issues involve many policy concerns and stated that the Legislature, not the Court, is the body that must consider and weigh the economic and social costs and benefits of restructuring. Detroit Edison believes that the existing retail access programs will continue to move forward as voluntary utility programs and is continuing with implementation pending additional MPSC action. <P align="left"><B>Federal Energy Regulatory Commission</B> <P align="left"> On February 15, 1999, Detroit Edison submitted a request to the FERC for authorization to use certain plant accounts to recognize the impairment loss of Detroit Edison’s Fermi 2 plant and associated assets in accordance with generally accepted accounting principles. On March 26, 1999, the Michigan Attorney General filed a protest with the FERC and requested that the FERC set the issue for hearing. On April 12, 1999, Detroit Edison filed its response with the FERC, requesting that the FERC reject the Michigan Attorney General’s protest as an improper collateral attack on MPSC orders. The FERC has not made a ruling on these matters. <P align="left"> In a Notice of Proposed Rulemaking (NOPR) issued on May 12, the FERC proposed that all public utilities that own, operate or control interstate transmission to file by October 15, 2000, a proposal for a Regional Transmission Organization (RTO) or, alternatively, a description of any efforts made by the utility to participate in an existing RTO or the reasons for not participating and any obstacles to such participation, and any plans for further work toward participation. The proposed RTOs would be operational by December 15, 2001. The FERC said it wants RTOs in place nationwide to facilitate the development of an open and more competitive market in bulk power sales of electricity. <P align="left"> A public utility that is a member of an existing transmission entity that conforms to Independent System Operator (ISO) principles identified in Order 888 would have until January 15, 2001 to explain the extent to which the organization meets the minimum standards for a RTO. <P align="left"> Initial comments on the NOPR are due before August 16, 1999. Reply comments are due before September 15, 1999. <P align="left"> On June 3, Detroit Edison, along with Consumers Energy Co., the American Electric Power Service Corp., FirstEnergy Corp., and Virginia Electric and Power Co., filed applications with FERC requesting approval of the Alliance RTO (Alliance). If approved by the FERC, the Alliance would control over 43,000 miles of transmission lines in 9 states. The Alliance companies hope to have the RTO begin operations in about 12 to 18 months. <P align="left"> The Alliance indicates it will ensure independent and nondiscriminatory operation of the regional grid, and provide flexibility to current and potential future members to allow them to divest their transmission assets if they so desire. The Alliance indicated that a separate for-profit transmission company, or transco, is a possible end-state and could be an attractive business model for independent management of transmission assets. <P align="center">22 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> The filing indicated that the Alliance could begin operations as either a non-profit ISO that controls the operations of the participants’ transmission facilities, or a transco that owns the transmission facilities of those companies choosing to divest but acting as an ISO for the facilities of non-divesting participants. It also indicated that the RTO could begin operation as an ISO but convert to a transco if certain conditions were met. <P align="left"> Detroit Edison decided to participate as a transmission owner because it believes the Alliance will maximize the value of its assets, provide non-discriminatory access to the grid, and be a major stepping stone to implementation of the MPSC’s retail access program. <P align="left"><B>LIQUIDITY AND CAPITAL RESOURCES</B> <P align="left"><B>Cash From Operating Activities</B> <P align="left"> Net cash from operating activities for the Company was higher in the three month period due to increased net income and changes in current assets and liabilities. Net cash from operating activities was lower in the sixth month period due to changes in current assets and liabilities, partially offset by increased net income. <P align="left"> Net cash from operating activities was higher in the three month period for Detroit Edison due to changes in current assets and liabilities and increased net income. Net cash from operating activities was higher in the six month period due to changes in current assets and liabilities and increased net income. <P align="left"><B>Cash Used For Investing Activities</B> <P align="left"> Net cash used for investing activities for the Company was higher in the three month period due to increased plant and equipment expenditures, primarily due to the acquisition of additional peaking capacity. Net cash used for investing activities was lower in the six month period due to non-regulated investments in the prior period, partially offset by increased plant and equipment expenditures. <P align="left"> Net cash used for investing activities was higher for Detroit Edison due to higher plant and equipment expenditures. <P align="left"><B>Cash (Used for) From Financing Activities</B> <P align="left"> Net cash used for financing activities for the Company was lower in the three month period due to an increase in short-term borrowings. Net cash used for financing activities for the six month period ended June 30, 1999 was $130 million compared to net cash from financing activities of $28 million for the same period in 1998. This fluctuation was mainly due to decreased short-term borrowings and the issuance of long-term debt in 1998. <P align="left"> Net cash used for financing activities for Detroit Edison was the same for the three month periods ended June 30, 1999 and 1998 due to an increase in short-term borrowings, offset by the redemption of long-term debt and the prior period issuance of long-term debt, offset by the redemption of preferred stock. Net cash used for financing activities for the six month period decreased due primarily to lower redemptions of long-term debt and the prior period redemption of preferred stock. <P align="left"> Detroit Edison has an effective shelf registration statement on file with the Securities and Exchange Commission pursuant to which it may issue up to $265 million in debt securities. <P align="center">23 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>YEAR 2000</B> <P align="left"> The Company and Detroit Edison have been involved in an enterprise-wide program to address Year 2000 issues. A program office was established in mid-1997 to implement a rigorous plan to address the impact of Year 2000 on hardware and software systems, embedded systems (which include microprocessors used in the production and control of electric power), and critical service providers. The emphasis has been on mission critical systems that support core business activities or processes. Core business activities/processes include safety, environmental and regulatory compliance, product production and delivery, revenue collection, employee and supplier payment and financial asset management. <P align="left"> The plan for addressing Year 2000 is divided into several phases including raising general awareness of Year 2000 throughout the Company and Detroit Edison; maintaining an inventory of systems and devices; performing an assessment of inventoried systems and devices; performing compliance testing of suspect systems and devices; remediation of non-compliant systems and devices through replacement, repair, retirement, or identifying an acceptable work around; testing and remediation of systems and devices in an integrated environment and preparing business continuity plans. <P align="left"> Inventory, assessment and compliance testing phases have been completed for known systems and devices. Over 99% of the mission critical assets are remediated. Those remaining are not critical to the generation, transmission and distribution of power and are expected to be completed by early October 1999. Integration planning, including the mapping of critical business processes, is complete for Detroit Edison. Integration testing for Detroit Edison is approximately 63% complete and is expected to be fully complete by early October 1999. <P align="left"> To support the program, the Year 2000 office has been working with major utility industry associations and organizations, customers and vendors to gather and share information on Year 2000 issues. Letters were sent to the North American Electric Reliability Council (NERC) and the U.S. Nuclear Regulatory Commission (NRC) concerning Y2K readiness on June 29, 1999 and June 30, 1999, respectively. These letters confirmed that Detroit Edison systems critical to the generation, transmission and distribution of power are ready for operation into the new millennium. The program office has contacted vendors critical to Company operations to determine their progress on Year 2000. <P align="left"> To further assist in identifying potential problems, tests of generating facilities have been conducted by advancing control systems dates to the Year 2000. Results of these tests have shown that the generating facilities operated successfully in this induced “millennium mode.” Exercises were conducted on December 31, 1998 and January 1, 1999 to assess the ability to reach employees and the regional security centers of the East Central Area Reliability Group through various communication channels. The exercised communication channels operated properly. Detroit Edison <P align="center">24 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> back-up telecommunication systems worked as designed in a North America-wide drill conducted on April 9, 1999. The business continuity program will provide opportunities to conduct similar exercises on other systems in advance of the Year 2000. Detroit Edison will participate in the NERC nationwide Y2K drill for all utility systems in September 1999. <P align="left"> In the event that an unknown Year 2000 condition adversely affects service to customers or an internal business process, contingency and business continuity plans and procedures are being developed to provide rapid restoration to normal conditions. The Company and Detroit Edison have always maintained a comprehensive operational emergency response plan. The business continuity function of the Year 2000 program will supplement the existing emergency plan to include Year 2000 specific events. To manage and coordinate operations, including mobilization of all employees as necessary during the transition to the new millennium, a Year 2000 emergency coordination center will be operational by November 1999. <P align="left"> The Company and Detroit Edison believe that with all Year 2000 modifications, business continuity and emergency management plans in place, the Year 2000 will not have a material effect on their financial position, liquidity and results of operations. Despite all efforts, there can be no assurances that Year 2000 issues can be totally eliminated. Results of modifications and testing done through June 30, 1999 have demonstrated that Detroit Edison should be able to maintain normal operating conditions into the Year 2000, although there may be isolated electric service interruptions. Detroit Edison’s internal business systems may be affected by a Year 2000 related failure that could temporarily interrupt the ability to communicate with customers, collect revenue, or complete cash transactions. In addition, no assurances can be given that the systems of vendors, interconnected utilities and customers will not result in Year 2000 problems. <P align="left"> The Company estimates that Year 2000 costs will approximate $87 million with $73 million expended through June 30, 1999. Operating cash flow is expected to be sufficient to pay Year 2000 modification costs with no material impact on operating results or cash flows. <P align="left"><B>RESULTS OF OPERATIONS</B> <P align="left"> For the three months ended June 30, 1999, the Company’s net income was $110 million or $0.76 per common share as compared to $101 million or $0.69 per common share during the same period in 1998. For the six months ended June 30,1999 net income was $225 million or $1.55 per common share compared to $205 million or $1.41 per common share during the same period in 1998. <P align="left"> The 1999 three and six month earnings were higher than 1998 due to higher electric system sales and increased utilization of tax credits generated by non-regulated businesses, partially offset by higher operating expenses, primarily Year 2000 and depreciation and amortization expenses. <P align="center">25 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>Operating Revenues</B> <P align="left"> Increases in operating revenues were due primarily to higher non-regulated subsidiary revenues, principally energy trading and coke oven battery operations, higher system sales due to increased customer base and electric usage for both periods and increased heating load for the six month period, partially offset by decreased sales between utilities and regulated rate decreases. <P align="left"> Detroit Edison kWh sales increased (decreased) as compared to the prior year as follows: <CENTER> <TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="75%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Three</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Six</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Months</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Months</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Residential</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2.6</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3.9</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Commercial</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5.8</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4.8</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Industrial</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2.2</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1.4</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other (includes primarily sales for resale)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">7.1</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9.2</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total System</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3.9</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3.7</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Sales between utilities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(40.6</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(30.6</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Total</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(0.4</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">0.2</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="left"> The increase in residential sales resulted from growth in the customer base and electric usage, and more heating related demand for the six month period. Commercial and industrial sales increased, reflecting more heating related demand for the six month period and a continuation of favorable economic conditions. Sales to other customers increased reflecting increased demand from sales for resale customers. Sales between utilities decreased due to less power available for sale. <P align="left"><B>Operating Expenses</B> <P align="left"><I>Fuel and Purchased Power</I> <P align="left"> Net system output and average fuel and purchased power unit costs for Detroit Edison were as follows: <CENTER> <TABLE width="90%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="58%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="2%"> </TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="7"></TD> <TD></TD> <TD colspan="7"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Three Months</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Six Months</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1999</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>1998</B></FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD colspan="15"></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD align="center" nowrap colspan="15"><FONT size="2"><B>(Thousands of MWh)</B></FONT></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Power plant generation</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fossil</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9,700</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10,353</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">20,174</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">21,397</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Nuclear</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,252</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,305</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4,651</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4,288</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Purchased power</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,442</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,817</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,773</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,783</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Net system output</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14,394</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">14,475</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">28,598</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">28,468</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Average unit cost ($/MWh)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Generation</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">$12.49</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">$12.62</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">$12.39</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">$12.73</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Purchased power</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">46.09</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">53.04</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">38.65</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">42.58</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="left"> For the three and six month periods ended, fuel and purchased power expense increased for the Company due primarily to new non-regulated subsidiary expenses. Detroit Edison fuel and purchased power expense increased due to increased <P align="center">26 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> purchases of higher cost power to replace lower cost system generation as a result of plant outages, partially offset by lower purchased power unit costs resulting from decreased demand for power and lower fuel unit costs due to decreased nuclear fuel cost and increased usage of low cost Fermi 2 generation. <P align="left"><I>Operation and Maintenance</I> <P align="left"> Operation and maintenance expense increased for the three and six month periods due to new non-regulated subsidiary operation expense ($50 million) and ($93 million), respectively, and higher expenses for Year 2000 testing and remediation ($13 million) and ($27 million), respectively. The increase in non-regulated subsidiary operation expense was due to the increased level of operation and the addition of new businesses. <P align="left"><I>Income Taxes</I> <P align="left"> Income tax expense for the Company decreased in 1999 due primarily to increased utilization of alternate fuels credits generated from non-regulated businesses. <P align="left"><B>FORWARD-LOOKING STATEMENTS</B> <P align="left"> Certain information presented herein is based on the expectations of the Company and Detroit Edison, and, as such, is forward-looking. The Private Securities Litigation Reform Act of 1995 encourages reporting companies to provide analyses and estimates of future prospects and also permits reporting companies to point out that actual results may differ from those anticipated. <P align="left"> Actual results for the Company and Detroit Edison may differ from those expected due to a number of variables including, but not limited to, weather, actual sales, the effects of competition and the phased-in implementation of Direct Access, the implementation of utility restructuring in Michigan (which involves pending regulatory and legislative proceedings, and the recovery of stranded costs), environmental (including proposed regulations to limit nitrogen oxide emissions) and nuclear requirements, the impact of FERC proceedings and regulations, the success of non-regulated lines of business and the timely completion and functioning of Year 2000 modifications. While the Company and Detroit Edison believe that estimates given accurately measure the expected outcome, actual results could vary materially due to the variables mentioned as well as others. This discussion contains a Year 2000 readiness disclosure. <P align="center">27 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY" --> <DIV align="left"><A NAME="005"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</B> </DIV> <!-- link2 "PART II — OTHER INFORMATION" --> <DIV align="left"><A NAME="006"></A></DIV> <DIV align="center"> <B>PART II — OTHER INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 4 — Submission of Matters to a Vote of Security Holders." --> <DIV align="left"><A NAME="007"></A></DIV> <DIV align="left"> <B>Item 4 — Submission of Matters to a Vote of Security Holders.</B> </DIV> <P> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="3%"></TD> <TD width="97%"></TD> </TR> <TR valign="top"> <TD>(a) </TD> <TD align="left"> The annual meeting of the holders of Common Stock of the Company was held on April 28, 1999. Proxies for the meeting were solicited pursuant to Regulation 14(a).</TD> </TR> <TR> <TD> </TD> </TR> <TR valign="top"> <TD>(b) </TD> <TD align="left"> The following three directors were elected to serve until the annual meeting in the year 2002 with the votes shown:</TD> </TR> </TABLE> <CENTER> <TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="62%"> </TD> <TD width="3%"> </TD> <TD width="9%"> </TD> <TD width="1%"> </TD> <TD width="8%"> </TD> <TD width="3%"> </TD> <TD width="7%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Total Vote</B></FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Total Vote For</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Withheld From</B></FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Each Director</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Each Director</B></FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Lillian Bauder</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">113,846,984</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,199,594</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> David Bing</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">113,788,827</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,257,751</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Larry G. Garberding</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">113,905,455</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,141,123</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="3%"></TD> <TD width="97%"></TD> </TR> <TR valign="top"> <TD> </TD> <TD align="left"> The terms of the previously elected eight directors listed below continue until the annual meeting dates shown after each name:</TD> </TR> </TABLE> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="72%"> </TD> <TD width="3%"> </TD> <TD width="25%"> </TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> William C. Brooks</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 26, 2000</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> John E. Lobbia</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 26, 2000</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Eugene A. Miller</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 26, 2000</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Dean E. Richardson</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 26, 2000</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Terence E. Adderley</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 25, 2001</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Anthony F. Earley, Jr.</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 25, 2001</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Allan D. Gilmour</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 25, 2001</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Theodore S. Leipprandt</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 25, 2001</FONT></TD> </TR> </TABLE> </CENTER> <P> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="3%"></TD> <TD width="97%"></TD> </TR> <TR valign="top"> <TD>(c) </TD> <TD align="left"> Shareholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent auditors for the year 1999 with the votes shown:</TD> </TR> </TABLE> <CENTER> <TABLE width="40%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="21%"> </TD> <TD width="1%"> </TD> <TD width="20%"> </TD> <TD width="3%"> </TD> <TD width="16%"> </TD> <TD width="1%"> </TD> <TD width="16%"> </TD> <TD width="3%"> </TD> <TD width="9%"> </TD> <TD width="1%"> </TD> <TD width="9%"> </TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>For</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Against</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Abstain</B></FONT></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><HR size="1"></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">114,594,485</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">444,012</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,008,081</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="left"> There were no shareholder proposals. <P align="center">28 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> (d) Not applicable. <P align="left"> <!-- link3 "Item 5 — Other Information." --> <DIV align="left"><A NAME="008"></A></DIV> <DIV align="left"> <B>Item 5 — Other Information.</B> </DIV> <P align="left"><B>DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT</B> <P align="left"> On June 22, 1999, Charles W. Pryor, Jr., age 54, was elected to the Company’s Board of Directors for a term expiring on the next annual meeting of shareholders in April 2000. Pryor, of Pittsburgh, Pennsylvania, is President and Chief Executive Officer of Westinghouse Electric. His previous experience includes serving as Chairman and Chief Executive Officer for B&W Nuclear Technologies Company in Lynchburg, Virginia. <P align="left"> Effective April 28, 1999, S. Martin Taylor was elected Senior Vice President of the Company. He previously served as Vice President of Detroit Edison. <P align="left"> Effective April 28, 1999, David E. Meador was appointed Vice President (Finance and Accounting) for the Company. He previously served as Vice President and Controller of the Company. <P align="left"><B>OTHER</B> <P align="left"> Effective June 30, 1999, the Company dissolved DTE Co-Energy L.L.C., a joint venture with CoEnergy Trading Co., a MCN Energy Group, Inc. subsidiary, which sold natural gas and electricity to customers. The mutually agreed decision to end the venture was based on both companies’ desire to pursue retail gas and electricity markets separately. The impact on operations is immaterial. <P align="center">29 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY" --> <DIV align="left"><A NAME="009"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY </B> </DIV> <P align="left"> <!-- link2 "PART I — FINANCIAL INFORMATION" --> <DIV align="left"><A NAME="010"></A></DIV> <DIV align="center"> <B>PART I — FINANCIAL INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 1 — Condensed Consolidated Financial Statements (Unaudited)." --> <DIV align="left"><A NAME="011"></A></DIV> <DIV align="left"> <B>Item 1 — Condensed Consolidated Financial Statements (Unaudited).</B> </DIV> <P align="left"> See pages 11 through 15. <P align="left"> <!-- link3 "Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations." --> <DIV align="left"><A NAME="012"></A></DIV> <DIV align="left"> <B>Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations.</B> </DIV> <P align="left"> See the Company’s and Detroit Edison’s “Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations,” which is incorporated herein by this reference. <P align="left"> <!-- link2 "PART II — OTHER INFORMATION" --> <DIV align="left"><A NAME="013"></A></DIV> <DIV align="center"> <B>PART II — OTHER INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 5 — Other Information." --> <DIV align="left"><A NAME="014"></A></DIV> <DIV align="left"> <B>Item 5 — Other Information.</B> </DIV> <P align="left"><B>DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT</B> <P align="left"> On June 22, 1999, Charles W. Pryor, Jr., age 54, was elected to Detroit Edison’s Board of Directors for a term expiring on the next annual meeting of shareholders in April 2000. Pryor, of Pittsburgh, Pennsylvania, is President and Chief Executive Officer of Westinghouse Electric. His previous experience includes serving as Chairman and Chief Executive Officer for B&W Nuclear Technologies Company in Lynchburg, Virginia. <P align="left"> Effective April 28, 1999, S. Martin Taylor was elected Senior Vice President of Detroit Edison. He previously served as Vice President of Detroit Edison. <P align="left"> Effective April 28, 1999, Daniel G. Brudzynski, age 38, was elected Controller of Detroit Edison. From 1984 to 1997, he held a variety of financial management positions at Chrysler Corporation. <P align="left"><B>OTHER</B> <P align="left"> On June 22, 1999, members of Local 223, Utility Workers Union of America, ratified a new 5-year Trade Contract with Detroit Edison. <P align="center">30 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV> </DIV> <DIV align="left"> </DIV> <!-- link1 "QUARTERLY REPORTS ON FORM 10-Q FOR DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY" --> <DIV align="left"><A NAME="015"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORTS ON FORM 10-Q FOR</B> </DIV> <DIV align="center"> <B>DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY</B> </DIV> <P align="left"> <!-- link3 "Item 6 — Exhibits and Reports on Form 8-K." --> <DIV align="left"><A NAME="016"></A></DIV> <DIV align="left"> <B>Item 6 — Exhibits and Reports on Form 8-K.</B> </DIV> <P align="left"> (a) Exhibits <P align="left"> (i) Exhibits filed herewith. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="76%"> </TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Exhibit</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Number</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3-13</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Restated Articles of Incorporation of Detroit Edison, as filed December 10, 1991 with the State of Michigan, Department of Commerce — Corporation and Securities Bureau.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-203</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $50,000,000 Support Agreement dated as of June 10, 1999 between DTE Energy Company and DTE Capital Corporation.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">11-16</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company Basic and Diluted Earnings Per Share of Common Stock.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-18</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-19</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> The Detroit Edison Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">15-11</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Awareness Letter of Deloitte & Touche LLP regarding their report dated July 28, 1999.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-27</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Financial Data Schedule for the period ended June 30, 1999 for DTE Energy Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-28</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Financial Data Schedule for the period ended June 30, 1999 for The Detroit Edison Company.</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> (ii) Exhibits incorporated herein by reference. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Amended and Restated Articles of Incorporation of DTE Energy Company, dated December 13, 1995. (Exhibit 3-5 to Form 10-Q for quarter ended September 30, 1997)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Certificate of Designation of Series A Junior Participating Preferred Stock of DTE Energy Company. Exhibit 3-6 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Bylaws of DTE Energy Company, as amended through April 28, 1999.</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">31 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> (Exhibit 3-11 to Form 10-Q for quarter ended March 31, 1999).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Bylaws of The Detroit Edison Company, as amended through April 28, 1999. Exhibit 3-12 to form 10-Q for quarter ended March 31, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Rights Agreement, dated as of September 23, 1997, by and between DTE Energy Company and The Detroit Edison Company, as Rights Agent (Exhibit 4-1 to DTE Energy Company Current Report on Form 8-K, dated September 23, 1997).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Agreement and Plan of Exchange (Exhibit 1(2) to DTE Energy Form 8-B filed January 2, 1996, File No. 1-11607).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Mortgage and Deed of Trust, dated as of October 1, 1924, between Detroit Edison (File No. 1-2198) and Bankers Trust Company as Trustee (Exhibit B-1 to Registration No. 2-1630) and indentures supplemental thereto, dated as of dates indicated below, and filed as exhibits to the filings as set forth below:</FONT></TD> </TR> </TABLE> </CENTER> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="19%"> </TD> <TD width="3%"> </TD> <TD width="59%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> September 1, 1947</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit B-20 to Registration No. 2-7136</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> October 1, 1968</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-33 to Registration No. 2-30096</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 15, 1971</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-38 to Registration No. 2-42160</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> January 15, 1973</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-39 to Registration No. 2-46595</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 1, 1978</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-51 to Registration No. 2-61643</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 30, 1982</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-30 to Registration No. 2-78941</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> August 15, 1982</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-32 to Registration No. 2-79674</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> October 15, 1985</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-170 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 30, 1987</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-139 to Form 10-K for year ended December 31, 1992</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 15, 1989</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-171 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> December 1, 1989</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-172 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> February 15, 1990</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-173 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-15 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-178 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 15, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-179 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> September 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-180 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-181 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">32 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="19%"> </TD> <TD width="3%"> </TD> <TD width="59%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> January 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-182 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> February 29, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-187 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-188 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-189 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 31, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-190 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 30, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-130 to Registration No. 33-56496</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> January 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-131 to Registration No. 33-56496</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> March 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-191 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> March 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-192 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-143 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 26, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-144 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 31, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-148 to Registration No. 33-64296</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-149 to Form 10-Q for quarter ended June 30, 1993 (1993 Series AP)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> September 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-158 to Form 10-Q for quarter ended September 30, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> March 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-163 to Registration No. 33-53207</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-166 to Form 10-Q for quarter ended June 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> August 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-168 to Form 10-Q for quarter ended September 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> December 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-169 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> August 1, 1995</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-174 to Form 10-Q for quarter ended September 30, 1995</FONT></TD> </TR> </TABLE> </CENTER> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Collateral Trust Indenture (notes), dated as of June 30, 1993 (Exhibit 4-152 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Supplemental Note Indenture, dated as of June 30, 1993 (Exhibit 4-153 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Supplemental Note Indenture, dated as of September 15, 1993 (Exhibit 4-159 to Form 10-Q for quarter ended September 30, 1993).</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">33 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of August 15, 1996, to Second Supplemental Note Indenture (Exhibit 4-17 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-169 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of December 12, 1995, to Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-12 to Registration No. 333-00023).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Supplemental Note Indenture, dated as of August 15, 1995 (Exhibit 4-175 to Detroit Edison Form 10-Q for quarter ended September 30, 1995).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fifth Supplemental Note Indenture, dated as of February 1, 1996 (Exhibit 4-14 to Form 10-K for year ended December 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Sixth Supplemental Note Indenture, dated as of May 1, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.54% Quarterly Income Debt Securities (“QUIDS”), including form of QUIDS. (Exhibit 4-193 to form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Seventh Supplemental Note Indenture, dated as of October 15, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.375% QUIDS, including form of QUIDS. (Exhibit 4-198 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of August 17, 1994, among The Detroit Edison Company, Barclays Bank PLC, as Bank and Administrative Agent, Bank of America, The Bank of New York, The Fuji Bank Limited, The Long-Term Credit Bank of Japan, LTD, Union Bank and Citicorp Securities, Inc. and First Chicago Capital Markets, Inc. as Remarketing Agents (Exhibit 99-18 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $60,000,000 Support Agreement dated as of January 21, 1998 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-183 to Form 10-K for year ended December 31, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $100,000,000 Support Agreement, dated as of June 16, 1998, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-194 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $300,000,000 Support Agreement, dated as of November 18, 1998, between DTE Energy and DTE Capital Corporation. (Exhibit 4-199 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">34 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $400,000,000 Support Agreement, dated as of January 19, 1999, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-201 to form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee. (Exhibit 4-196 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Supplemental Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $100,000,000 Remarketed Notes, Series A due 2038, including form of Note. (Exhibit 4-197 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Supplemental Indenture, dated as of November 1, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $300,000,000 Remarketed Notes, 1998 Series B, including form of Note. (Exhibit 4-200 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Amended and Restated Credit Agreement, Dated as of January 19, 1999 among DTE Capital Corporation, the Initial Lenders, Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Barclays Bank PLC, Bayerische Landesbank Giruzertrale, Cayman Islands Branch, Comerica Bank, Den Daske Bank Aktieselskab and The First National Bank of Chicago, as Co-Agents, and Salomon Smith Barney Inc., as Arranger. (Exhibit 99-28 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $40,000,000 Support Agreement dated as of February 24, 1999 between DTE Energy Company and DTE Capital Corporation (Exhibit 4-202 to Form 10-Q for quarter ended March 31, 1999).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Belle River Participation Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-5 to Registration No. 2-81501).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Belle River Transmission Ownership and Operating Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-6 to Registration No. 2-81501).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 1988 Amended and Restated Loan Agreement, dated as of October 4, 1988, between Renaissance Energy Company (an unaffiliated company) (“Renaissance”) and Detroit Edison (Exhibit 99-6 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment to 1988 Amended and Restated Loan Agreement, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-7 to Registration No. 33-50325).</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">35 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Amendment to 1988 Amended and Restated Loan Agreement, dated as of September 1, 1993, between Detroit Edison and Renaissance (Exhibit 99-8 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of August 28, 1997, to 1988 Amended and Restated Loan Agreement between Detroit Edison and Renaissance. (Exhibit 99-22 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank PLC, New York Branch, as Agent (Exhibit 99-12 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of August 31, 1994, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-19 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-11 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Amendment, dated as of August 29, 1996, to $200,000,000 364-Day Credit Agreement as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fifth Amendment, dated as of September 1, 1997, to $200,000,000 Multi-Year Credit Agreement, dated as of September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-24 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of September 1, 1994, to $200,000,000 Three-Year Credit Agreement, dated as of September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">36 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Agent (Exhibit 99-20 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-12 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Amendment, dated as of September 1, 1996, to $200,000,000 Multi-Year (formerly Three-Year) Credit Agreement, dated as of September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-14 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fifth Amendment, dated as of August 28, 1997, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-25 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Sixth Amendment, dated as of August 27, 1998, to $200,000,000 364-Day Credit Agreement dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank PLC, New York Branch, as agent. (Exhibit 99-32 to Registration No. 333-65765.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated October 4, 1988, between Detroit Edison and Renaissance (Exhibit 99-9 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-10 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Amendment, dated as of September 1, 1993, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract between Detroit Edison and Renaissance (Exhibit 99-11 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of August 31, 1994, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated October 4, 1988, between The Detroit Edison Company and Renaissance Energy Company (Exhibit 99-21 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">37 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(v)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Amendment, dated as of March 8, 1996, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract Agreement, dated as of October 4, 1988, between Detroit Edison and Renaissance (Exhibit 99-10 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(w)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Sixth Amendment, dated as of August 28, 1997, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract between Detroit Edison and Renaissance. (Exhibit 99-23 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(x)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of September 12, 1997, among The Detroit Edison Company and the Bank’s Signatory thereto and The Chase Manhattan Bank, as Administrative Agent, and Citicorp Securities, Inc., Lehman Brokers, Inc., as Remarketing Agents and Chase Securities, Inc. as Arranger. (Exhibit 999-26 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">38 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "SIGNATURES" --> <DIV align="left"><A NAME="017"></A></DIV> <DIV align="center"> <B>SIGNATURES</B> </DIV> <P align="left"> Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="8%"> </TD> <TD width="3%"> </TD> <TD width="36%"> </TD> <TD width="3%"> </TD> <TD width="50%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> DTE ENERGY COMPANY<BR> <HR size="1">(Registrant)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 28, 1999</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ SUSAN M. BEALE<BR> <HR size="1">Susan M. Beale<BR> Vice President and Corporate Secretary</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 28, 1999</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ DAVID E. MEADOR<BR> <HR size="1">David E. Meador<BR> Vice President</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">39 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "SIGNATURES" --> <DIV align="left"><A NAME="018"></A></DIV> <DIV align="center"> <B>SIGNATURES</B> </DIV> <P align="left"> Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="8%"> </TD> <TD width="3%"> </TD> <TD width="36%"> </TD> <TD width="3%"> </TD> <TD width="50%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> THE DETROIT EDISON COMPANY<BR> <HR size="1">(Registrant)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 28, 1999</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ SUSAN M. BEALE<BR> <HR size="1">Susan M. Beale<BR> Vice President and Corporate Secretary</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 28, 1999</FONT></TD> <TD></TD> <TD align="center" valign="top"><FONT size="2"> /s/ DANIEL G. BRUDZYNSKI<BR> <HR size="1">Daniel G. Brudzynski<BR> Controller</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">40 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="center"><B>EXHIBIT INDEX</B> <P align="left"> (a) Exhibits <P align="left"> (i) Exhibits filed herewith. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="76%"> </TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Exhibit</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><FONT size="2"><B>Number</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3-13</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Restated Articles of Incorporation of Detroit Edison, as filed December 10, 1991 with the State of Michigan, Department of Commerce — Corporation and Securities Bureau.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-203</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $50,000,000 Support Agreement dated as of June 10, 1999 between DTE Energy Company and DTE Capital Corporation.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">11-16</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company Basic and Diluted Earnings Per Share of Common Stock.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-18</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> DTE Energy Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-19</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> The Detroit Edison Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">15-11</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Awareness Letter of Deloitte & Touche LLP regarding their report dated July 28, 1999.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-27</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Financial Data Schedule for the period ended June 30, 1999 for DTE Energy Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-28</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Financial Data Schedule for the period ended June 30, 1999 for The Detroit Edison Company.</FONT></TD> </TR> </TABLE> </CENTER> <P align="left"> (ii) Exhibits incorporated herein by reference. <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Amended and Restated Articles of Incorporation of DTE Energy Company, dated December 13, 1995. (Exhibit 3-5 to Form 10-Q for quarter ended September 30, 1997)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Certificate of Designation of Series A Junior Participating Preferred Stock of DTE Energy Company. Exhibit 3-6 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Bylaws of DTE Energy Company, as amended through April 28, 1999.</FONT></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV> </DIV> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> (Exhibit 3-11 to Form 10-Q for quarter ended March 31, 1999).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Bylaws of The Detroit Edison Company, as amended through April 28, 1999. Exhibit 3-12 to form 10-Q for quarter ended March 31, 1999.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Rights Agreement, dated as of September 23, 1997, by and between DTE Energy Company and The Detroit Edison Company, as Rights Agent (Exhibit 4-1 to DTE Energy Company Current Report on Form 8-K, dated September 23, 1997).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Agreement and Plan of Exchange (Exhibit 1(2) to DTE Energy Form 8-B filed January 2, 1996, File No. 1-11607).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Mortgage and Deed of Trust, dated as of October 1, 1924, between Detroit Edison (File No. 1-2198) and Bankers Trust Company as Trustee (Exhibit B-1 to Registration No. 2-1630) and indentures supplemental thereto, dated as of dates indicated below, and filed as exhibits to the filings as set forth below:</FONT></TD> </TR> </TABLE> </CENTER> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="19%"> </TD> <TD width="3%"> </TD> <TD width="59%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> September 1, 1947</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit B-20 to Registration No. 2-7136</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> October 1, 1968</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-33 to Registration No. 2-30096</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 15, 1971</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-38 to Registration No. 2-42160</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> January 15, 1973</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-39 to Registration No. 2-46595</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 1, 1978</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 2-B-51 to Registration No. 2-61643</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 30, 1982</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-30 to Registration No. 2-78941</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> August 15, 1982</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-32 to Registration No. 2-79674</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> October 15, 1985</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-170 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 30, 1987</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-139 to Form 10-K for year ended December 31, 1992</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 15, 1989</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-171 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> December 1, 1989</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-172 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> February 15, 1990</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-173 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-15 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-178 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 15, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-179 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> September 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-180 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-181 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="19%"> </TD> <TD width="3%"> </TD> <TD width="59%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> January 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-182 to Form 10-K for year ended December 31, 1996</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> February 29, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-187 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-188 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-189 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> July 31, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-190 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 30, 1992</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-130 to Registration No. 33-56496</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> January 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-131 to Registration No. 33-56496</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> March 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-191 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> March 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-192 to Form 10-Q for quarter ended March 31, 1998</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-143 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> April 26, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-144 to Form 10-Q for quarter ended March 31, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> May 31, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-148 to Registration No. 33-64296</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-149 to Form 10-Q for quarter ended June 30, 1993 (1993 Series AP)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H)</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> September 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-158 to Form 10-Q for quarter ended September 30, 1993</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> March 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-163 to Registration No. 33-53207</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> June 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-166 to Form 10-Q for quarter ended June 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> August 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-168 to Form 10-Q for quarter ended September 30, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> December 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-169 to Form 10-K for year ended December 31, 1994</FONT></TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> August 1, 1995</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Exhibit 4-174 to Form 10-Q for quarter ended September 30, 1995</FONT></TD> </TR> </TABLE> </CENTER> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Collateral Trust Indenture (notes), dated as of June 30, 1993 (Exhibit 4-152 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Supplemental Note Indenture, dated as of June 30, 1993 (Exhibit 4-153 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Supplemental Note Indenture, dated as of September 15, 1993 (Exhibit 4-159 to Form 10-Q for quarter ended September 30, 1993).</FONT></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of August 15, 1996, to Second Supplemental Note Indenture (Exhibit 4-17 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-169 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of December 12, 1995, to Third Supplemental Note Indenture, dated as of August 15, 1994 (Exhibit 4-12 to Registration No. 333-00023).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Supplemental Note Indenture, dated as of August 15, 1995 (Exhibit 4-175 to Detroit Edison Form 10-Q for quarter ended September 30, 1995).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fifth Supplemental Note Indenture, dated as of February 1, 1996 (Exhibit 4-14 to Form 10-K for year ended December 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Sixth Supplemental Note Indenture, dated as of May 1, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.54% Quarterly Income Debt Securities (“QUIDS”), including form of QUIDS. (Exhibit 4-193 to form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Seventh Supplemental Note Indenture, dated as of October 15, 1998, between Detroit Edison and Bankers Trust Company, as Trustee, creating the 7.375% QUIDS, including form of QUIDS. (Exhibit 4-198 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of August 17, 1994, among The Detroit Edison Company, Barclays Bank PLC, as Bank and Administrative Agent, Bank of America, The Bank of New York, The Fuji Bank Limited, The Long-Term Credit Bank of Japan, LTD, Union Bank and Citicorp Securities, Inc. and First Chicago Capital Markets, Inc. as Remarketing Agents (Exhibit 99-18 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $60,000,000 Support Agreement dated as of January 21, 1998 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-183 to Form 10-K for year ended December 31, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $100,000,000 Support Agreement, dated as of June 16, 1998, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-194 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $300,000,000 Support Agreement, dated as of November 18, 1998, between DTE Energy and DTE Capital Corporation. (Exhibit 4-199 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $400,000,000 Support Agreement, dated as of January 19, 1999, between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-201 to form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee. (Exhibit 4-196 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Supplemental Indenture, dated as of June 15, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $100,000,000 Remarketed Notes, Series A due 2038, including form of Note. (Exhibit 4-197 to Form 10-Q for quarter ended June 30, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Supplemental Indenture, dated as of November 1, 1998, between DTE Capital Corporation and The Bank of New York, as Trustee, creating the $300,000,000 Remarketed Notes, 1998 Series B, including form of Note. (Exhibit 4-200 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Amended and Restated Credit Agreement, Dated as of January 19, 1999 among DTE Capital Corporation, the Initial Lenders, Citibank, N.A., as Agent, and ABN AMRO Bank N.V., Barclays Bank PLC, Bayerische Landesbank Giruzertrale, Cayman Islands Branch, Comerica Bank, Den Daske Bank Aktieselskab and The First National Bank of Chicago, as Co-Agents, and Salomon Smith Barney Inc., as Arranger. (Exhibit 99-28 to Form 10-K for year ended December 31, 1998.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $40,000,000 Support Agreement dated as of February 24, 1999 between DTE Energy Company and DTE Capital Corporation. (Exhibit 4-202 to Form 10-Q for quarter ended March 31, 1999).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Belle River Participation Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-5 to Registration No. 2-81501).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(b)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Belle River Transmission Ownership and Operating Agreement between Detroit Edison and Michigan Public Power Agency, dated as of December 1, 1982 (Exhibit 28-6 to Registration No. 2-81501).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(c)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 1988 Amended and Restated Loan Agreement, dated as of October 4, 1988, between Renaissance Energy Company (an unaffiliated company) (“Renaissance”) and Detroit Edison (Exhibit 99-6 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(d)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment to 1988 Amended and Restated Loan Agreement, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-7 to Registration No. 33-50325).</FONT></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(e)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Amendment to 1988 Amended and Restated Loan Agreement, dated as of September 1, 1993, between Detroit Edison and Renaissance (Exhibit 99-8 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(f)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of August 28, 1997, to 1988 Amended and Restated Loan Agreement between Detroit Edison and Renaissance. (Exhibit 99-22 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank PLC, New York Branch, as Agent (Exhibit 99-12 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(h)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of August 31, 1994, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-19 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(i)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 364-Day Credit Agreement, dated September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-11 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(j)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Amendment, dated as of August 29, 1996, to $200,000,000 364-Day Credit Agreement as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-13 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(k)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fifth Amendment, dated as of September 1, 1997, to $200,000,000 Multi-Year Credit Agreement, dated as of September 1, 1993, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-24 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(l)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, among Detroit Edison, Renaissance and Barclays Bank, PLC, New York Branch, as Agent. (Exhibit 99-13 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(m)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment, dated as of September 1, 1994, to $200,000,000 Three-Year Credit Agreement, dated as of September 1, 1993, among The Detroit Edison Company, Renaissance Energy Company, the Banks party thereto and Barclays Bank, PLC, New York Branch, as</FONT></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Agent (Exhibit 99-20 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(n)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of March 8, 1996, to $200,000,000 Three-Year Credit Agreement, dated September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-12 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(o)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Amendment, dated as of September 1, 1996, to $200,000,000 Multi-Year (formerly Three-Year) Credit Agreement, dated as of September 1, 1993, as amended among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank, PLC, New York Branch, as Agent (Exhibit 99-14 to Form 10-Q for quarter ended September 30, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(p)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fifth Amendment, dated as of August 28, 1997, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks Party thereto and Barclays Bank PLC, New York Branch, as Agent. (Exhibit 99-25 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(q)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Sixth Amendment, dated as of August 27, 1998, to $200,000,000 364-Day Credit Agreement dated as of September 1, 1990, as amended, among Detroit Edison, Renaissance, the Banks party thereto and Barclays Bank PLC, New York Branch, as agent. (Exhibit 99-32 to Registration No. 333-65765.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(r)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated October 4, 1988, between Detroit Edison and Renaissance (Exhibit 99-9 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> First Amendment to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated as of February 1, 1990, between Detroit Edison and Renaissance (Exhibit 99-10 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Second Amendment, dated as of September 1, 1993, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract between Detroit Edison and Renaissance (Exhibit 99-11 to Registration No. 33-50325).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Third Amendment, dated as of August 31, 1994, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract, dated October 4, 1988, between The Detroit Edison Company and Renaissance Energy Company (Exhibit 99-21 to Form 10-Q for quarter ended September 30, 1994).</FONT></TD> </TR> </TABLE> </CENTER> <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="3%"> </TD> <TD width="77%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(v)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Fourth Amendment, dated as of March 8, 1996, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract Agreement, dated as of October 4, 1988, between Detroit Edison and Renaissance (Exhibit 99-10 to Form 10-Q for quarter ended March 31, 1996).</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(w)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Sixth Amendment, dated as of August 28, 1997, to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract between Detroit Edison and Renaissance. (Exhibit 99-23 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99</FONT></TD> <TD align="left" valign="top" nowrap><FONT size="2">(x)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Standby Note Purchase Credit Facility, dated as of September 12, 1997, among The Detroit Edison Company and the Bank’s Signatory thereto and The Chase Manhattan Bank, as Administrative Agent, and Citicorp Securities, Inc., Lehman Brokers, Inc., as Remarketing Agents and Chase Securities, Inc. as Arranger. (Exhibit 999-26 to Form 10-Q for quarter ended September 30, 1997.)</FONT></TD> </TR> </TABLE> </CENTER> </BODY> </HTML>