DTE Electric 8-K DTE Energy announces third quarter 2007 earnings

Exhibit 99.2

DTE Energy Company
Consolidated Statements of Financial Position (unaudited)

	September 30			December 31
	2007			2006
	(in Millions)
ASSETS
Current Assets
Cash and cash equivalents	$	156		$	147
Restricted cash		93			146
Accounts receivable (less allowance for doubtful accounts of $180 and $170, respectively)
Customer		1,192			1,427
Collateral held by others		73			68
Other		292			442
Accrued power and gas supply cost recovery revenue		116			117
Inventories
Fuel and gas		570			562
Materials and supplies		186			153
Deferred income taxes		366			245
Assets from risk management and trading activities		372			461
Other		239			193
Current assets held for sale		74			—
		3,729			3,961
Investments
Nuclear decommissioning trust funds		826			740
Other		453			505
		1,279			1,245
Property
Property, plant and equipment		18,834			19,224
Less accumulated depreciation and depletion		(7,496	)		(7,773	)
		11,338			11,451
Other Assets
Goodwill		2,042			2,057
Regulatory assets		3,389			3,226
Securitized regulatory assets		1,154			1,235
Intangible assets		28			72
Notes receivable		107			164
Assets from risk management and trading activities		156			164
Prepaid pension assets		77			71
Other		116			139
Noncurrent assets held for sale		411			—
		7,480			7,128
Total Assets	$	23,826		$	23,785

The Consolidated Statements of Financial Position (Unaudited) should be read in conjunction with the
Notes to Consolidated Financial Statements appearing in the Forms 10-K and 10-Q.

DTE Energy Company
Consolidated Statements of Financial Position (unaudited)

	September 30			December 31
	2007			2006
	(in Millions, Except Shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable	$	952		$	1,145
Accrued interest		126			115
Dividends payable		87			94
Short-term borrowings		1,069			1,131
Current portion of long-term debt, including capital leases		466			354
Liabilities from risk management and trading activities		267			437
Deferred gains and reserves		347			208
Other		602			680
Current liabilities associated with assets held for sale		49			—
		3,965			4,164
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other		5,563			5,918
Securitization bonds		1,065			1,185
Trust preferred-linked securities		289			289
Capital lease obligations		44			82
		6,961			7,474
Other Liabilities
Deferred income taxes		1,739			1,465
Regulatory liabilities		1,185			765
Asset retirement obligations		1,225			1,221
Unamortized investment tax credit		111			120
Liabilities from risk management and trading activities		414			259
Liabilities from transportation and storage contracts		131			157
Accrued pension liability		397			388
Accrued postretirement liability		1,424			1,414
Deferred gains from asset sales		15			36
Nuclear decommissioning		129			119
Other		324			312
Noncurrent liabilities associated with assets held for sale		71			—
		7,165			6,256
Commitments and Contingencies
Minority Interest		38			42
Shareholders’ Equity
Common stock, without par value, 400,000,000 shares authorized, 163,713,691 and 177,138,060 shares issued and outstanding, respectively		3,181			3,467
Retained earnings (less FIN 48 cumulative effect adjustment of $5 in 2007)		2,634			2,593
Accumulated other comprehensive loss		(118	)		(211	)
		5,697			5,849
Total Liabilities and Shareholders’ Equity	$	23,826		$	23,785

The Consolidated Statements of Financial Position (Unaudited) should be read in conjunction with the
Notes to Consolidated Financial Statements appearing in the Forms 10-K and 10-Q.

DTE Energy Company
Consolidated Statements of Cash Flows (Unaudited)

	Nine Months Ended
	September 30
	2007			2006
	(in Millions)
Operating Activities
Net Income	$	716		$	291
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		716			801
Deferred income taxes		90			24
Gain on sale of interests in synfuel projects		(144	)		(72	)
Gain on sale of non-utility business		(897	)		—
Other asset (gains), losses and reserves, net		14			(1	)
Impairment of synfuel projects		—			124
Partners’ share of synfuel project losses		(161	)		(191	)
Contributions from synfuel partners		177			155
Cumulative effect of accounting change		—			(1	)
Changes in assets and liabilities, exclusive of changes shown separately		281			53
Net cash from operating activities		792			1,183
Investing Activities
Plant and equipment expenditures — utility		(750	)		(830	)
Plant and equipment expenditures — non-utility		(206	)		(214	)
Acquisitions, net of cash acquired		—			(27	)
Proceeds from sale of interests in synfuel projects		329			203
Refunds to synfuel partners		(81	)		—
Proceeds from sale of non-utility business		1,258			—
Proceeds from sale of other assets, net		39			44
Restricted cash for debt redemptions		52			29
Proceeds from sale of nuclear decommissioning trust fund assets		227			136
Investment in nuclear decommissioning trust funds		(254	)		(163	)
Other investments		(22	)		(18	)
Net cash from (used for) investing activities		592			(840	)
Financing Activities
Issuance of long-term debt		—			545
Redemption of long-term debt		(340	)		(672	)
Short-term borrowings, net		(62	)		44
Issuance of common stock		—			9
Repurchase of common stock		(686	)		(10	)
Dividends on common stock		(278	)		(274	)
Other		(2	)		(8	)
Net cash used for financing activities		(1,386	)		(366	)
Net Increase (Decrease) in Cash and Cash Equivalents		16			(23	)
Cash and Cash Equivalents Reclassified to Assets Held for Sale		(7	)		—
Cash and Cash Equivalents at Beginning of the Period		147			88
Cash and Cash Equivalents at End of the Period	$	156		$	65

The Consolidated Statements of Cash Flows (Unaudited) should be read in conjunction with the
Notes to Consolidated Financial Statements appearing in Forms 10-K and 10-Q.

The Detroit Edison Company
Consolidated Statements of Operations (unaudited)

	Three Months						Nine Months
	Ended						Ended
	September 30						September 30
	2007			2006			2007			2006
	(in Millions)
Operating Revenues	$	1,403		$	1,460		$	3,707		$	3,685
Operating Expenses
Fuel and purchased power		518			539			1,274			1,257
Operation and maintenance		386			277			1,114			991
Depreciation and amortization		203			311			583			646
Taxes other than income		63			64			204			198
Asset (gains) and reserves, net		6			(1	)		12			(1	)
		1,176			1,190			3,187			3,091
Operating Income		227			270			520			594
Other (Income) and Deductions
Interest expense		73			60			222			208
Interest income		(2	)		(1	)		(5	)		(2	)
Other income		(8	)		(9	)		(26	)		(22	)
Other expenses		7			9			22			29
		70			59			213			213
Income Before Income Taxes		157			211			307			381
Income Tax Provision		50			73			100			128
Income Before Accounting Change		107			138			207			253
Cumulative Effect of Accounting Change		—			—			—			1
Reported Earnings		107			138			207			254
Adjustments
Effective tax rate normalization		(1	)		(3	)		1			(2	)
Detroit Thermal reserve		8			—			14			—
Regulatory asset surcharge		—			—			6			—
Performance Excellence Process		—			(31	)		—			—
September 2006 MPSC electric		—			38			—			38
		7			4			21			36
Operating Earnings	$	114		$	142		$	228		$	290

The Consolidated Statement of Operations (Unaudited) should be read in conjunction with the
Notes to Consolidated Financial Statements appearing in Forms 10-K and 10-Q.

Michigan Consolidated Gas Company
Consolidated Statements of Operations (unaudited)

	Three Months						Nine Months
	Ended						Ended
	September 30						September 30
	2007			2006			2007			2006
	(in Millions)
Operating Revenues	$	169		$	167		$	1,335		$	1,259
Operating Expenses
Cost of gas		56			56			827			768
Operation and maintenance		104			91			324			320
Depreciation and amortization		25			24			70			71
Taxes other than income		13			13			42			41
Asset (gains) and losses, net		(1	)		(3	)		2			—
		197			181			1,265			1,200
Operating Income (Loss)		(28	)		(14	)		70			59
Other (Income) and Deductions
Interest expense		16			17			43			49
Interest income		(5	)		(2	)		(12	)		(6	)
Other income		(2	)		(2	)		(7	)		(6	)
Other expenses		1			—			3			1
		10			13			27			38
Income (Loss) Before Income Taxes		(38	)		(27	)		43			21
Income Tax Provision (Benefit)		(10	)		(8	)		11			3
Reported Earnings (Loss)		(28	)		(19	)		32			18
Adjustments
Effective tax rate normalization		6			5			4			3
Performance Excellence Process		1			7			3			11
		7			12			7			14
Operating Earnings (Loss)	$	(21	)	$	(7	)	$	39		$	32

The Consolidated Statements of Operations (Unaudited) should be read in conjunction with the
Notes to Consolidated Financial Statements appearing in Forms 10-K and 10-Q.

DTE Energy Debt/Equity Calculation
As of September 30, 2007
($ millions)

Short-term borrowings	$	1,069
Current portion of long-term debt, including capital leases		469
Mortgage bonds, notes and other		5,584
Securitization bonds		1,065
Capital lease obligations		74
less MichCon short-term debt		(318	)
less Securitization bonds, including current portion		(1,185	)
Total debt		6,759
Trust preferred-linked securities		289
Total preferred/ other		289
Equity		5,697
Total capitalization	$	12,744
Debt		53.0	%
Preferred		2.3	%
Common shareholders’ equity		44.7	%
Total		100.0	%

Sales Analysis — Q3 2007

Electric Sales — Detroit Edison Service Area (GWh)

	Q3 2007		Q3 2006		% Change
Residential		4,836		4,883		-1	%
Commercial		5,166		4,927		5	%
Industrial		3,278		3,695		-11	%
Other		812		814		0	%
		14,092		14,319		-2	%
Choice*		569		534		7	%
TOTAL SALES		14,661		14,853		-1	%

* Includes Dearborn Industrial Group sales

Gas Sales — MichCon Service Area (Mcf)

	Q3 2007		Q3 2006		% Change
Residential		8,620,009		7,814,094		10	%
Commercial		2,302,481		2,171,363		6	%
Industrial		185,436		230,837		-20	%
		11,107,926		10,216,294		9	%
End User Transportation*		25,189,350		27,815,723		-9	%
TOTAL SALES		36,297,276		38,032,017		-5	%

* Includes choice customers

Electric Revenue — Detroit Edison Service Area ($000s)

	Q3 2007		Q3 2006		% Change
Residential		522,327		529,454		-1	%
Commercial		445,809		444,828		0	%
Industrial		214,994		240,019		-10	%
Other		44,822		44,448		1	%
		1,227,952		1,258,749		-2	%
Choice*		11,595		15,355		-24	%
TOTAL REVENUES		1,239,547		1,274,104		-3	%

* Distribution charge, includes Dearborn Industrial Group revenues

Gas Revenue — MichCon Service Area ($000s)

	Q3 2007		Q3 2006		% Change
Residential		109,477		104,066		5	%
Commercial		27,198		26,294		3	%
Industrial		1,867		2,322		-20	%
		138,542		132,682		4	%
End User Transportation*		21,308		24,149		-12	%
TOTAL REVENUES		159,850		156,831		2	%

* Includes choice customers

Weather

Cooling Degree Days
Detroit Edison service territory

	Q3 2007			Q3 2006			% Change
Actuals		613			640			-4	%
Normal		537			537			n/m
Deviation from normal		14	%		19	%

Heating Degree Days
MichCon service territory

	Q3 2007			Q3 2006			% Change
Actuals		107			148			-28	%
Normal		181			177
Deviation from normal		-41	%		-16	%

	2007 Common Shares Outstanding
							Projected
	Q1		Q2		Q3		FYE 2007
	(millions)
Weighted Average Shares Outstanding For The Period		177		175		166		171
Outstanding Shares At End Of Period		176		171		164		160