<HTML> <HEAD> <TITLE></TITLE> </HEAD> <BODY bgcolor="#FFFFFF"> <!-- PAGEBREAK --> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <DIV align="left"> ________________________________________________________________________________ <HR size="1" width="100%" align="left"> </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 September 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 colspan="5"> </TD> </TR> <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 October 29, 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 colspan="9"><A HREF="#004">QUARTERLY REPORT ON FORM 10-Q FOR DTE ENERGY COMPANY</A></TD></TR> <TR><TD></TD><TD colspan="8"><A HREF="#005">PART II -- OTHER INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#006">Item 5 -- Other Information.</A></TD></TR> <TR><TD colspan="9"><A HREF="#007">QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#008">Item 1 -- Condensed Consolidated Financial Statements (Unaudited).</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#009">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="#010">PART II -- OTHER INFORMATION</A></TD></TR> <TR><TD></TD><TD></TD><TD colspan="7"><A HREF="#011">Item 1 -- Legal Proceedings.</A></TD></TR> <TR><TD colspan="9"><A HREF="#012">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="#013">Item 6 -- Exhibits and Reports on Form 8-K.</A></TD></TR> <TR><TD colspan="9"><A HREF="#014">SIGNATURES</A></TD></TR> <TR><TD colspan="9"><A HREF="#015">SIGNATURES</A></TD></TR> <TR><TD colspan="9"><A HREF="#016">EXHIBITS INDEX</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 September 30, 1999</B> </DIV> <P align="left"> This document contains the Quarterly Reports on Form 10-Q for the quarter ended September 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><TR><TD><TR><TD><TR><TD> <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><TR><TD><TR><TD><TR><TD> <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><TR><TD><TR><TD><TR><TD> <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><TR><TD><TR><TD><TR><TD> <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><TR><TD><TR><TD><TR><TD> <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">28</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><TR><TD><TR><TD><TR><TD> <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">29</FONT></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"> Item 1 — Financial Statements</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></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">29</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"> Part II — 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></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Item 1 — Legal Proceedings</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 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><TR><TD><TR><TD><TR><TD> <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">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"> 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">38</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <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">39</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"> 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"> Electric Choice</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"> 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"> MCN</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> MCN Energy Group Inc.</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 quarters ended March 31, 1999 and June 30, 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 quarters ended March 31, 1999 and June 30, 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="5%"></TD> <TD width="95%"></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="90%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="52%"> </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="4"></TD> <TD></TD> <TD colspan="7"></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>Three Months</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Nine Months</B></FONT></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>Ended</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>September 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>September 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">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,440</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,199</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,614</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,208</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">510</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">359</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,063</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">852</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">397</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">338</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,086</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">906</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">183</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">169</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">547</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">496</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">69</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">211</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">207</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">1,159</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">933</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,907</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,461</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">281</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">707</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">747</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">95</FONT></TD> <TD></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">260</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">236</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">1</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">6</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">4</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">13</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">9</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">99</FONT></TD> <TD></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">273</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">251</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">182</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">178</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">434</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">496</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">21</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">48</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">159</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">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">161</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">132</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">386</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">337</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">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1.11</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">0.91</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2.66</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2.32</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="90%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="58%"> </TD> <TD width="3%"> </TD> <TD width="7%"> </TD> <TD width="1%"> </TD> <TD width="7%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>September 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">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">54</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</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">317</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">437</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">154</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">97</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">148</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">160</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">87</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">1,454</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">337</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">229</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">566</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">11,580</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">222</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">108</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">12,572</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">5,507</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">7,065</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">2,972</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">259</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">12,316</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="90%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> <TD width="3%"> </TD> <TD width="7%"> </TD> <TD width="1%"> </TD> <TD width="7%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>September 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">215</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">53</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">86</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">296</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"> Income taxes</FONT></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">69</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">566</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">87</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">240</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">208</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">1,691</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">1,902</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">118</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">230</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">532</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">2,782</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">3,985</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">1,908</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">3,858</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 5)</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">12,316</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="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="71%"> </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="2%"> </TD> </TR> <TR> <TD colspan="4"></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>Nine Months</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>September 30</B></FONT></TD> </TR> <TR> <TD colspan="4"></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> </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>Operating Activities</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"> 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">386</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">337</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"> 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> </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">518</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></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">(43</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">(57</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 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> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <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">(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">(70</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 align="left" valign="top"><FONT size="2"> Accounts receivable</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">(89</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 align="left" valign="top"><FONT size="2"> Inventories</FONT></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 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 align="left" valign="top"><FONT size="2"> Payables</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(43</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></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <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">(16</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">44</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 colspan="2" 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">737</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">654</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>Investing Activities</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"> Plant and equipment expenditures</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(530</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">(655</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="3" 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">(195</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></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 colspan="2" 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">(530</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">(850</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></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>Financing Activities</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"> Issuance of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">265</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">363</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"> Increase in short-term borrowings</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">65</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">356</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"> Increase in restricted cash for debt redemptions</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(185</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> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" 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">(204</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="3" 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> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" 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">(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">(224</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="3" 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> </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 colspan="2" 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">(283</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">211</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>Net (Decrease) Increase in Cash and Cash Equivalents</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(76</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">15</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>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">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="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>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">54</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">60</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Supplementary Cash Flow Information</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Interest paid (excluding interest capitalized)</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">263</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">244</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"> Income taxes paid</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">102</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">115</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"> New capital lease obligations</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">52</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 September 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">386</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 ($1.545 per share)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(224</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Repurchase and retirement of common stock</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(1</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD colspan="2" align="left" valign="top"><FONT size="2"> Balance at September 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,908</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">3,858</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="90%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="55%"> </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="3"></TD> <TD></TD> <TD colspan="7"></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>Three Months</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Nine Months</B></FONT></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>Ended</B></FONT></TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>September 30</B></FONT></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>September 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">1,211</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,105</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,128</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">2,998</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">405</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">344</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">888</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">818</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">275</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">249</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">773</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">719</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">176</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">522</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">486</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">69</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">66</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">210</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">206</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">925</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">821</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,393</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,229</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">286</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">284</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">735</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">769</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">82</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">72</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">219</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">208</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></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">3</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">13</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">83</FONT></TD> <TD></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">222</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">221</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">203</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">209</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">513</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 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">65</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">84</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">164</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">230</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">138</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">125</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">349</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="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">1</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">6</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">138</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">124</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">349</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">312</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="90%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="58%"> </TD> <TD width="3%"> </TD> <TD width="7%"> </TD> <TD width="1%"> </TD> <TD width="7%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>September 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">26</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><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">185</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</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">378</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">154</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">64</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">148</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">135</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">64</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">1,154</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">337</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">39</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">376</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">11,029</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">222</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">9</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">11,922</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">5,446</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">6,476</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">2,972</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">213</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">11,191</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="90%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> <TD width="3%"> </TD> <TD width="7%"> </TD> <TD width="1%"> </TD> <TD width="7%"> </TD> <TD width="3%"> </TD> <TD width="6%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> </TR> <TR> <TD colspan="3"></TD> <TD></TD> <TD align="center" nowrap colspan="3"><FONT size="2"><B>September 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">167</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">43</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">80</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">296</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"> Income taxes</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">104</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">479</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">87</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">192</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">1,528</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">1,867</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">118</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">230</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">517</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">2,732</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 colspan="11"> </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">3,308</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">1,672</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">3,623</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 5)</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">11,191</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="70%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="71%"> </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="2%"> </TD> </TR> <TR> <TD colspan="4"></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>Nine Months</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>Ended</B></FONT></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD align="center" nowrap colspan="7"><FONT size="2"><B>September 30</B></FONT></TD> </TR> <TR> <TD colspan="4"></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> </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>Operating Activities</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"> 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">349</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">318</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"> 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> </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">493</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">463</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">(5</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">(168</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 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> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <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">(46</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">(64</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 align="left" valign="top"><FONT size="2"> Inventories</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">26</FONT></TD> <TD></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> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <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">(61</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">103</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <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">(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">(48</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></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 colspan="2" 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">703</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">572</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>Investing Activities</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"> Plant and equipment expenditures</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(429</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">(365</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></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 colspan="2" 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">(429</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">(365</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></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>Financing Activities</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"> Issuance of long-term debt</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">265</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="3" 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">65</FONT></TD> <TD></TD> <TD></TD> <TD></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="3" align="left" valign="top"><FONT size="2"> Increase in restricted cash for debt redemptions</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(185</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> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" 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">(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">(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="3" 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> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" 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">(239</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">(245</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="3" 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> </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 colspan="2" 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">(253</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">(206</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></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>Net Increase in Cash and Cash Equivalents</B></FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">21</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1</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>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">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="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>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">26</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">16</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="4"></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="4" noshade></TD> <TD></TD> </TR> <TR> <TD colspan="4" align="left" valign="top"><FONT size="2"> <B>Supplementary Cash Flow Information</B></FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD colspan="3" align="left" valign="top"><FONT size="2"> Interest paid (excluding interest capitalized)</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">229</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">219</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"> Income taxes paid</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">186</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">195</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"> New capital lease obligations</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">52</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 September 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 September 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 September 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">349</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 ($1.65 per share)</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(239</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> </TR> <TR> <TD colspan="2"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left"><HR size="1"></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Balance at September 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,672</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">3,623</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"> Certain prior year balances have been reclassified to conform to the current year’s presentation. <P align="left"><B>NOTE 2 — MERGER AGREEMENT</B> <P align="left"> On October 4, 1999 the Company entered into a definitive merger agreement with MCN. MCN, a Michigan corporation, is primarily involved in natural gas production, gathering, processing, transmission, storage and distribution, electric power generation and energy marketing. MCN’s largest subsidiary is Michigan Consolidated Gas Company, a natural gas utility serving 1.2 million customers in more than 500 communities throughout Michigan. The merger, which is subject to a number of regulatory approvals, is expected to be completed in six to nine months. The merger agreement provides that the Company will acquire all outstanding shares of MCN for $28.50 per share in cash or 0.775 shares of Company common stock for each share of MCN common stock, subject to certain allocation procedures requiring that the aggregate number of shares of MCN common stock that will be converted into cash and the Company’s common stock will be equal to 55% and 45%, respectively, of the total number of shares of MCN common stock outstanding immediately prior to the merger. The transaction was preliminarily valued at $4.6 billion, which includes the assumption of approximately $2 billion of MCN’s debt. <P align="left"> The merger agreement provides for termination under certain circumstances; in such event, (1) the Company may be required to pay MCN a termination fee of $85 million plus expense reimbursement of up to $15 million or (2) MCN may be required to pay the Company a termination fee of $55 million plus expense reimbursement of up to $15 million. <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 3 — 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 over a 24-month period commencing January 1998. 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, 1999. Detroit Edison is unable to determine the timing or the outcome of these proceedings. <P align="left"><B>NOTE 4 — SHORT-TERM CREDIT ARRANGEMENTS AND BORROWINGS </B> <P align="left"> At September 30, 1999, Detroit Edison had total short-term credit arrangements of approximately $505 million under which $96 million of commercial paper was outstanding. Additionally, Detroit Edison had a $200 million trade receivables sales agreement under which $200 million was outstanding at September 30, 1999. <P align="left"> At September 30, 1999, DTE Capital had short-term credit arrangements of $400 million, backed by a Support Agreement from the Company, under which no amounts were outstanding. <P align="left"> In addition, the Company has entered into a total of $550 million of Support Agreements with DTE Capital for the purpose of DTE Capital’s credit enhancing activities on behalf of DTE Energy affiliates. <P align="left"><B>NOTE 5 — 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), agreed to binding arbitration to settle these matters. The settlement agreement provides that Detroit Edison’s monetary liability would be no less than $17.5 million and no greater than $65 million after the conclusion of all related proceedings. In July 1998, the Consent Judgement received preliminary Court approval. The Fairness Hearing with respect to the terms of the settlement was held in August 1998, and no objections to the settlement were raised. On October 28, 1999, a panel of arbitrators awarded the plaintiffs $45.15 million. As a result of the arbitration award, Detroit Edison must deposit $40.15 million in an escrow fund for the plaintiffs by November 27, 1999. Due to sufficient prior accruals and insurance coverage, Detroit Edison does not anticipate a material 1999 earnings impact due to this award. <P align="center">17 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>NOTE 6 — 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 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>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>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>and 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 September 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">1,211</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">229</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</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">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,440</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">138</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">23</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">—</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">161</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Nine Months Ended September 30, 1999</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,128</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">486</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</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">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">3,614</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">349</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">47</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(10</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">386</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Three Months Ended September 30, 1998</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,105</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">94</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</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">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,199</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Net income</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">124</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD> <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">132</FONT></TD> <TD></TD> </TR> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Nine Months Ended September 30, 1998</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD></TD> <TD align="left" valign="top"><FONT size="2"> Operating revenues</FONT></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,998</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">210</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</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">3,208</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">312</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">29</FONT></TD> <TD></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> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">337</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <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), Form S-4 (Registration No. 333-89175) 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 September 30, 1999, and the related condensed consolidated statements of income for the three-month and nine-month periods ended September 30, 1999 and 1998, the condensed consolidated statements of cash flows for the nine-month periods ended September 30, 1999 and 1998, and the condensed consolidated statement of changes in shareholders’ equity for the nine-month period ended September 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"> November 8, 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"><B>Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations.</B> <P align="left"> This analysis for the three and nine months ended September 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 was expected that one new line of business would be developed in 1999 through acquisition or start-up. <P align="left"> As discussed in Note 2, the Company and MCN have entered into a merger agreement. Subject to the receipt of all regulatory approvals, as well as the approval of the shareholders of each company, scheduled for December 20, 1999, the merger is expected to be completed in six to nine months. The Company expects that completion of the merger will result in the issuance of approximately 30 million additional shares of its common stock and approximately $1.4 billion in additional external financing. <P align="left"> The merger of the Company and MCN is expected to create a fully integrated electric and natural gas company that would be able to achieve an average of $60 million in (after-tax) cost savings per year over the first ten years of the merger. This business combination is also expected to be accretive to the Company’s earnings per share by 2001 and is expected to strongly support the Company’s commitment to a long-term earnings growth rate of 6%. <P align="left"> The merger agreement also provides for a Company affiliate to purchase all of MCN’s membership interest in several limited liability companies that own and operate synthetic fuel manufacturing facilities (coal fines plants). <P align="left"> The successful completion and implementation of the merger is subject to a number of risks, including the satisfactory receipt of all necessary regulatory approvals, as well as the approval of the shareholders of each company. While the Company expects that the combined entity will provide for operating cost reductions, there can be no assurances that such reductions will occur. The merger is expected to create fully integrated electric and gas operations which will permit the Company to continue to successfully compete in the energy markets as competition is fully introduced and implemented; however, there can be no assurances that the new company will be successfully responsive to competitive pressures. The external financing needs of the <P align="center">20 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> merger may create a sensitivity to interest rate changes; and the Company will need to successfully integrate the two operations in order to be able to service the expected debt requirements and achieve aggregate operating cost reductions. The merger is anticipated to strategically place the Company in the energy markets, but there can be no assurances that the combination will be successful. <P align="left"><B>ELECTRIC INDUSTRY RESTRUCTURING</B> <P align="left"> Various bills have been introduced and proposed for introduction at the Federal level and in the Michigan Legislature addressing competition in the electric markets. The Company and Detroit Edison are reviewing these bills; and the impact, which may include generation divestiture, of the adoption and implementation of one or more of these legislative proposals is unknown. Detroit Edison is voluntarily proceeding with the implementation of Electric Choice as provided for in MPSC Orders. <P align="left"><B>Michigan Public Service Commission</B> <P align="left"> In March 1999, the MPSC approved an interim code of conduct filed by Detroit Edison. The interim code allows DTE Energy affiliated companies to participate in the Electric Choice program. The MPSC also opened a proceeding to develop a permanent code of conduct. A final order from the MPSC is not expected until the third quarter of 2000. <P align="left"> In March 1999, Detroit Edison filed an application with the MPSC for true-up of its stranded costs, including Electric Choice implementation costs, and on September 17, 1999, filed its direct testimony. The testimony recommended Detroit Edison continue to provide exclusive metering and billing service, as set forth in its approved Electric Choice Implementation Plan, at least through the transition period ending in 2007; supported its proposed true-up methodology including estimated initial transition charge levels for the year 2002 by customer class; and supported Detroit Edison’s proposed calculation of stranded costs during the bidding period. The testimony also supported revised stranded cost balances; presented Detroit Edison’s position concerning the true-up of stranded costs for actual market clearing price, and proposed a method for identifying resale mitigation resources. In addition, the testimony supported adjustment to calculations in the PSCR proceeding to account for the resale of load lost due to the Electric Choice program; and presented its proposed method for recovery of Electric Choice implementation costs. MPSC Staff and intervenors have filed testimony in opposition to Detroit Edison’s position. A final order is not expected until the first quarter of 2000. <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. On September 22, 1999, Detroit Edison, the MPSC Staff (Staff), the Michigan Environmental Council and Public Research Group in Michigan, and the Attorney General (AG) filed their direct cases in <P align="center">21 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> the ABATE Complaint Case. Of particular significance is the proposal by the Staff that the MPSC establish three profitability bands for return on equity which would produce predefined benefits or penalties. Detroit Edison’s testimony supports a revenue deficiency of $33 million. The Staff concluded that no revenue sufficiency exists when Detroit Edison’s pending required review of its depreciation rates is taken into account. The Staff also assumed that the Fermi 2 Amortization Order will not be reversed. The AG proposes the reversal of the Fermi 2 Amortization Order. Detroit Edison will file rebuttal testimony in mid-November 1999. A final MPSC order is not expected until spring 2000. Detroit Edison is unable to predict the outcome of this proceeding. <P align="left"> On September 30, 1999, Detroit Edison filed its 2000 PSCR plan case. Fuel and purchased power costs for 2000 are projected to increase by up to 6 percent, on average, over the corresponding forecast for 1999. Detroit Edison is seeking a corresponding increase in its PSCR Factor for 2000. An order is expected in the third quarter of 2000. <P align="left"><B>Electric Choice</B> <P align="left"> On June 29, 1999, the Michigan Supreme Court, on a 4-3 vote, issued an opinion determining that the MPSC lacked authority to order retail wheeling in the context of an Electric Choice program. The Court reversed an earlier Michigan Court of Appeals opinion finding such authority and vacated two MPSC orders directing implementation of the experimental program. The Court held that the MPSC possesses no common law powers and 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 electric restructuring. <P align="left"> On August 17, 1999, the MPSC issued an order setting a deadline of September 1, 1999 for Detroit Edison and Consumers Energy to notify the MPSC if they choose to voluntarily implement the Electric Choice program previously ordered by the MPSC. On September 1, 1999, Detroit Edison filed a letter with the MPSC reaffirming the decision to expeditiously move ahead with the voluntary implementation of Electric Choice. Consumers Energy has likewise agreed to proceed with the Electric Choice program. On September 20, 1999, the bidding on the 225 MW allotted for Detroit Edison and 150 MW allotted for Consumers Energy for the first phase of Electric Choice was fully subscribed. Four additional bidding phases are contemplated, 225 MW closing on November 19, 1999 and 225 MW each closing in January, March and November 2000. <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 and Detroit Edison was higher due to increased net income and changes in current assets and liabilities. <P align="center">22 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><B>Cash Used For Investing Activities</B> <P align="left"> Net cash used for investing activities for the Company was lower due to an investment in coke oven battery businesses in the prior period and lower 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 for the nine month period ended September 30, 1999 was $283 million compared to net cash from financing activities of $211 million for the same period in 1998. This fluctuation was mainly due to a decreased usage of short-term borrowings. <P align="left"> Net cash used for financing activities for Detroit Edison increased due primarily to an increase in restricted cash for debt redemptions and a decreased usage of short-term borrowings. <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 $225 million in debt securities. <P align="left"> In August 1999, Detroit Edison issued $40 million of General and Refunding Mortgage Bonds. <P align="left"> In August and September 1999, Detroit Edison issued three series of 30-year collateralized tax-exempt bonds totaling $225 million. The proceeds were used to redeem $40 million of debt in September 1999 and the remainder will be used for December 1999 redemptions. <P align="left"> In November 1999, Detroit Edison purchased $24 million of Mortgage Bonds in the open market. These bonds have been canceled. <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, <P align="center">23 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> 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. Remediation of mission critical assets is complete. Integration planning, including the mapping of critical business processes, is complete for Detroit Edison. Integration testing for Detroit Edison is also complete. <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 Year 2000 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 NRC responded on October 1, 1999, confirming that all requested information has been provided. 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 back-up telecommunication systems worked as designed in a North America-wide drill conducted on April 9, 1999. Detroit Edison participated in the NERC nationwide Year 2000 drill for all utility systems on September 8 and 9, 1999. As a result of the drill, Detroit Edison was able to demonstrate its ability to deploy resources, perform operation and administrative procedures, use backup telecommunication systems and implement some contingency plans. <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 have been 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 supplements 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 was fully operational as of September 30, 1999. During the rollover event, the emergency management staffing plan calls for 1,300 working and on-call employees to manage Year 2000 issues. This is in addition to the normal holiday-weekend staff. Most of the employees work in the Fossil Generation, Nuclear Generation, Energy Delivery and Information Systems organizations. Key facilities, including substations, will be staffed during the rollover. The emergency coordination center will continuously monitor the impact of Year 2000 as it is experienced in other parts of the world and moves to the Eastern Standard Time zone. <P align="center">24 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <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 September 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 $81 million expended through September 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 September 30, 1999, the Company’s net income was $161 million or $1.11 per common share as compared to $132 million or $0.91 per common share during the same period in 1998. For the nine months ended September 30, 1999, net income was $386 million or $2.66 per common share compared to $337 million or $2.32 per common share during the same period in 1998. <P align="left"> The 1999 three and nine 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, fuel and purchased power, and depreciation and amortization expenses. <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 and increased heating load for the nine month period, partially offset by decreased sales between utilities and regulated rate decreases. <P align="center">25 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <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="74%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </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 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>Nine</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">2.0</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">3.2</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">(0.6</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">2.8</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">11.1</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">4.7</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Other (includes primarily sales for resale)</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12.6</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">10.3</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">3.8</FONT></TD> <TD></TD> </TR> <TR><TD><TR><TD><TR><TD><TR><TD> <TR> <TD colspan="2" align="left" valign="top"><FONT size="2"> Sales between utilities</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">(26.0</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">(29.6</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">2.2</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">0.9</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 nine month period. Industrial sales increased, reflecting more heating related demand along with replacement energy sales for the Ford Rouge Power Plant for the nine month period and a continuation of favorable economic conditions. Commercial sales decreased for the three month period due to cooler weather. 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"> For the three and nine month periods ended, fuel and purchased power expense increased for the Company due primarily to new non-regulated subsidiary expenses, principally energy trading operations. Detroit Edison fuel and purchased power expense increased due to increased purchases of higher cost power and higher system output, partially offset by increased usage of lower cost system generation as a result of increased system availability and lower fuel unit costs due to decreased nuclear fuel cost and increased usage of low cost Fermi 2 generation. <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>Nine 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">11,847</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">11,387</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">32,021</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">32,784</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">2,377</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">1,445</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">7,028</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,734</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">1,988</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">2,924</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,761</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">5,706</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">16,212</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">15,756</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">44,510</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">44,224</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 align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12.80</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">13.18</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12.54</FONT></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">12.88</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">101.62</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">53.81</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">60.38</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="right" valign="bottom" nowrap><FONT size="2">48.33</FONT></TD> <TD></TD> </TR> </TABLE> </CENTER> <P align="center">26 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"><I>Operation and Maintenance</I> <P align="left"> Operation and maintenance expense increased for the three and nine month periods due to new non-regulated subsidiary operation expense ($33 million) and ($126 million), respectively, higher transmission and distribution related expenses for the three month period ($26 million) and higher expenses for Year 2000 testing and remediation for the nine month period ($27 million). 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 and the end of the Fermi 2 phase-in plan. <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 Electric Choice, the implementation of utility restructuring in Michigan (which involves pending and proposed 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. In addition, expected results will be dependent upon the successful completion and implementation of the Company’s pending merger with MCN. 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="004"></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="005"></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="006"></A></DIV> <DIV align="left"> <B>Item 5 — Other Information.</B> </DIV> <P align="left"> A special meeting of the Company’s common shareholders will be held on December 20, 1999. At this meeting, Shareholders will be asked to approve the issuance of common stock in connection with the MCN merger. The affirmative vote of a majority of shares voting is required for passage. <P align="center">28 <!-- 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="007"></A></DIV> <DIV align="center"> <B>QUARTERLY REPORT ON FORM 10-Q FOR THE DETROIT EDISON COMPANY </B> </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="008"></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="009"></A></DIV> <TABLE width="100%" border="0" cellpadding="0" cellspacing="0"> <TR> <TD width="7%"></TD> <TD width="93%"></TD> </TR> <TR valign="top"> <TD><B>Item 2 —</B></TD> <TD align="left"> <B>Management’s Discussion and Analysis of Financial Condition and Results of Operations.</B></TD> </TR> </TABLE> <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="010"></A></DIV> <DIV align="center"> <B>PART II — OTHER INFORMATION</B> </DIV> <P align="left"> <!-- link3 "Item 1 -- Legal Proceedings." --> <DIV align="left"><A NAME="011"></A></DIV> <DIV align="left"> <B>Item 1 — Legal Proceedings.</B> </DIV> <P align="left"> In a lawsuit filed in January 1999 in the Circuit Court for Wayne County Michigan (<I>Cook, et al v. Detroit Edison</I>), a number of individual plaintiffs have claimed employment-related sex, gender and race discrimination, as well as harassment. A hearing on plaintiffs’ request for class action certification is scheduled to be held in December 1999. Detroit Edison believes the claims are without merit and class action certification is not appropriate. <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 REPORTS ON FORM 10-Q FOR DTE ENERGY COMPANY AND THE DETROIT EDISON COMPANY" --> <DIV align="left"><A NAME="012"></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="013"></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="5%"> </TD> <TD width="1%"> </TD> <TD width="5%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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">3-14</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of Detroit Edison, as amended through September 22, 1999.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-204</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Supplemental Indenture, dated as of August 1, 1999, creating the General and Refunding Mortgage Bonds, 1999 Series AP, Due September 1, 2029; 1999 Series BP, Due September 1, 2029; and 1999 Series LP, Due September 1, 2029.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-205</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Supplemental Indenture, dated as of August 15, 1999, creating the General and Refunding Mortgage Bonds, Floating Rate 1999 Series D Due September 17, 2001.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">11-17</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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">12-20</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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">12-21</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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">15-12</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Awareness Letter of Deloitte & Touche LLP regarding their report dated November, 1999.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-29</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended September 30, 1999 for DTE Energy Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-30</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended September 30, 1999 for The Detroit Edison Company.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-29</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> U.S. $160,000,000 Standby Note Purchase Credit Facility, dated as of October 26, 1999, among Detroit Edison, the Bank’s signatory thereto, Barclays Bank PLC, as Administrative Agent and Barclays Capital Inc., Lehman Brothers Inc. and Banc One Capital Markets, Inc., as Remarketing Agents.</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">30 <!-- 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="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-30</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Seventh Amendment, dated as of August 26, 1999, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, as amended among The Detroit Edison Company, Renaissance Energy Company, the Banks parties thereto and Barclays Bank PLC, New York branch as Agent.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-31</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Eighth Amendment, dated as of August 26, 1999 to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract between Detroit Edison and Renaissance Energy 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">2</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="bottom"><FONT size="2"> Agreement and Plan of Merger, among DTE Energy Company, MCN Energy Group Inc. and DTE Enterprises, Inc., dated as of October 4, 1999 (Exhibit 2(a) to Form 8-K dated October 5, 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">(a)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><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="bottom"><FONT size="2"> Bylaws of DTE Energy Company, as amended through September 22, 1999 (Exhibit 3-3 to Registration No. 333-89175).</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="bottom"><FONT size="2"> Articles of Incorporation of DTE Enterprises, Inc. (Exhibit 3.5 to Registration No. 333-89175).</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="bottom"><FONT size="2"> Bylaws of DTE Enterprises, Inc. (Exhibit 3.6 to Registration No. 333-89175).</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="bottom"><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">(g)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><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="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="22%"> </TD> <TD width="3%"> </TD> <TD width="55%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> September 1, 1947</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> October 1, 1968</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 15, 1971</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-38 to Registration No. 2-42160</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="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="18%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 15, 1973</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 1, 1978</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 30, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> August 15, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> October 15, 1985</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 30, 1987</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> July 15, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> December 1, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> February 15, 1990</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> May 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> May 15, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> September 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-181 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="bottom"><FONT size="2"> January 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> February 29, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> July 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> July 31, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 30, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> January 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> March 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> March 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 26, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> May 31, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H)</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="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="18%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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> <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="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> </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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> <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="bottom"><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="bottom"><FONT size="2"> $50,000,000 Support Agreement dated as of June 10, 1999 between DTE Energy Company and DTE Capital Corporation (Exhibit 4-203 to Form 10-Q for quarter ended June 30, 1999).</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="bottom"><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">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Amended and Restated Credit Agreement, Dated as of J 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</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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> 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">(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"> $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> <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> </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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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="bottom"><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 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="bottom"><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="bottom"><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> </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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> <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="bottom"><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="bottom"><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="bottom"><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="left"> (b) On October 5, 1999 the Company filed a Current Report on Form 8-K discussing the proposed merger with MCN. <P align="center">37 <!-- 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="014"></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 colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 8, 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 colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 8, 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">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="015"></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 colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 8, 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 colspan="5"> </TD> </TR> <TR> <TD align="left" valign="top"><FONT size="2"> Date</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> November 8, 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">39 <!-- PAGEBREAK --> <P><HR noshade><P> <H5 align="left"><A HREF="#toc">Table of Contents</A></H5><P> <P align="left"> <!-- link1 "EXHIBITS INDEX" --> <DIV align="left"><A NAME="016"></A></DIV> <DIV align="center"> <B>EXHIBITS INDEX</B> </DIV> <CENTER> <TABLE width="80%" 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="3%"> </TD> <TD width="3%"> </TD> <TD width="74%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </TD> <TD width="3%"> </TD> <TD width="1%"> </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> <TD></TD> <TD colspan="3"></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> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD align="center" nowrap colspan="3"><HR size="1"></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD colspan="3"></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">3-14</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Bylaws of Detroit Edison, as amended through September 22, 1999.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-204</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Supplemental Indenture, dated as of August 1, 1999, creating the General and Refunding Mortgage Bonds, 1999 Series AP, Due September 1, 2029; 1999 Series BP, Due September 1, 2029; and 1999 Series LP, Due September 1, 2029.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">4-205</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Supplemental Indenture, dated as of August 15, 1999, creating the General and Refunding Mortgage Bonds, Floating Rate 1999 Series D Due September 17, 2001.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">11-17</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> DTE Energy Company Basic and Diluted Earnings Per Share of Common Stock.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-20</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> DTE Energy Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">12-21</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> The Detroit Edison Company Computation of Ratio of Earnings to Fixed Charges.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">15-12</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Awareness Letter of Deloitte & Touche LLP regarding their report dated November, 1999.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-29</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended September 30, 1999 for DTE Energy Company.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">27-30</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Financial Data Schedule for the period ended September 30, 1999 for The Detroit Edison Company.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-29</FONT></TD> <TD></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> U.S. $160,000,000 Standby Note Purchase Credit Facility, dated as of October 26, 1999, among Detroit Edison, the Bank’s signatory thereto, Barclays Bank PLC, as Administrative Agent and Barclays Capital Inc., Lehman Brothers Inc. and Banc One Capital Markets, Inc., as Remarketing Agents.</FONT></TD> <TD></TD> <TD></TD> <TD></TD> <TD></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> <CENTER> <TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0"> <TR> <TD width="5%"> </TD> <TD width="1%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-30</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"> Seventh Amendment, dated as of August 26, 1999, to $200,000,000 364-Day Credit Agreement, dated as of September 1, 1993, as amended among The Detroit Edison Company, Renaissance Energy Company, the Banks parties thereto and Barclays Bank PLC, New York branch as Agent.</FONT></TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">99-31</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"> Eighth Amendment, dated as of August 26, 1999 to 1988 Amended and Restated Nuclear Fuel Heat Purchase Contract between Detroit Edison and Renaissance Energy 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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD align="right" valign="top" nowrap><FONT size="2">2</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"> Agreement and Plan of Merger, among DTE Energy Company, MCN Energy Group Inc. and DTE Enterprises, Inc., dated as of October 4, 1999 (Exhibit 2(a) to Form 8-K dated October 5, 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">(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 September 22, 1999 (Exhibit 3-3 to Registration No. 333-89175).</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"> Articles of Incorporation of DTE Enterprises, Inc. (Exhibit 3.5 to Registration No. 333-89175).</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"> Bylaws of DTE Enterprises, Inc. (Exhibit 3.6 to Registration No. 333-89175).</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"> 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">(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"> 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="4%"> </TD> <TD width="3%"> </TD> <TD width="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="22%"> </TD> <TD width="3%"> </TD> <TD width="55%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> September 1, 1947</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> October 1, 1968</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 15, 1971</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 2-B-38 to Registration No. 2-42160</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">41 <!-- 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="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="18%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> January 15, 1973</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 1, 1978</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 30, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> August 15, 1982</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> October 15, 1985</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 30, 1987</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> July 15, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> December 1, 1989</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> February 15, 1990</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> May 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> May 15, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> September 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 1, 1991</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-181 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="bottom"><FONT size="2"> January 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> February 29, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> July 15, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> July 31, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> November 30, 1992</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> January 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> March 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> March 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 1, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> April 26, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> May 31, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 30, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Exhibit 4-150 to Form 10-Q for quarter ended June 30, 1993 (1993 Series H)</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">42 <!-- 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="4%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="3%"> </TD> <TD width="2%"> </TD> <TD width="3%"> </TD> <TD width="18%"> </TD> <TD width="3%"> </TD> <TD width="61%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> September 15, 1993</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> March 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> June 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> August 15, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> December 1, 1994</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><FONT size="2"> August 1, 1995</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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> <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="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> </TABLE> </CENTER> <P align="center">43 <!-- 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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> <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="bottom"><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="bottom"><FONT size="2"> $50,000,000 Support Agreement dated as of June 10, 1999 between DTE Energy Company and DTE Capital Corporation (Exhibit 4-203 to Form 10-Q for quarter ended June 30, 1999).</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="bottom"><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">(s)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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">(t)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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">(u)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> Second Amended and Restated Credit Agreement, Dated as of J 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</FONT></TD> </TR> </TABLE> </CENTER> <P align="center">44 <!-- 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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </TD> </TR> <TR> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD></TD> <TD align="left" valign="bottom"><FONT size="2"> 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">(v)</FONT></TD> <TD></TD> <TD align="left" valign="top"><FONT size="2"> —</FONT></TD> <TD></TD> <TD align="left" valign="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> <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="bottom"><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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> </TABLE> </CENTER> <P align="center">45 <!-- 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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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="bottom"><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 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="bottom"><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="bottom"><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> </TABLE> </CENTER> <P align="center">46 <!-- 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="3%"> </TD> <TD width="3%"> </TD> <TD width="80%"> </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="bottom"><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="bottom"><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="bottom"><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="bottom"><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> <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="bottom"><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="bottom"><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="bottom"><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">47 </BODY> </HTML>