Exhibit 99.2
DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF OPERATIONS (PRELIMINARY/UNAUDITED)
(in Millions, Except per Share Amounts)
3 Months - June | 6 Months - June | |||||||||||||||||||||||||
2003 | 2002 | % Change | 2003 | 2002 | % Change | |||||||||||||||||||||
Operating Revenues | $ | 1,600 | $ | 1,474 | 9 | % | $ | 3,695 | $ | 3,368 | 10 | % | ||||||||||||||
Operating Expenses | ||||||||||||||||||||||||||
Fuel, purchased power and gas | $ | 493 | $ | 403 | 22 | % | $ | 1,306 | $ | 1,138 | 15 | % | ||||||||||||||
Operation and maintenance | 720 | 623 | 16 | % | 1,475 | 1,166 | 27 | % | ||||||||||||||||||
Depreciation, depletion and amortization | 180 | 180 | — | 377 | 369 | 2 | % | |||||||||||||||||||
Taxes other than income | 87 | 81 | 7 | % | 184 | 174 | 6 | % | ||||||||||||||||||
$ | 1,480 | $ | 1,287 | 15 | % | $ | 3,342 | $ | 2,847 | 17 | % | |||||||||||||||
Operating Income | $ | 120 | $ | 187 | -36 | % | $ | 353 | $ | 521 | -32 | % | ||||||||||||||
Other (Income) and Deductions | ||||||||||||||||||||||||||
Interest expense | $ | 132 | $ | 136 | -3 | % | $ | 265 | $ | 272 | -3 | % | ||||||||||||||
Preferred stock dividends of subsidiaries | 6 | 5 | 20 | % | 12 | 13 | -8 | % | ||||||||||||||||||
Interest income | (7 | ) | (6 | ) | 17 | % | (15 | ) | (11 | ) | 36 | % | ||||||||||||||
Other income | (18 | ) | (28 | ) | -36 | % | (31 | ) | (37 | ) | -16 | % | ||||||||||||||
Other expenses | 18 | 27 | -33 | % | 51 | 42 | 21 | % | ||||||||||||||||||
$ | 131 | $ | 134 | -2 | % | $ | 282 | $ | 279 | 1 | % | |||||||||||||||
Income (Loss) Before Income Taxes | $ | (11 | ) | $ | 53 | n/m | $ | 71 | $ | 242 | -71 | % | ||||||||||||||
Income Tax (Benefit) Expense | 10 | (8 | ) | n/m | (16 | ) | (11 | ) | -45 | % | ||||||||||||||||
Income (Loss) from Continuing Operations | $ | (21 | ) | $ | 61 | n/m | $ | 87 | $ | 253 | -66 | % | ||||||||||||||
Discontinued Operations — ITC | ||||||||||||||||||||||||||
Income from operations | $ | — | $ | 7 | — | $ | 5 | $ | 15 | -67 | % | |||||||||||||||
Gain on sale | (2 | ) | — | — | 67 | — | — | |||||||||||||||||||
$ | (2 | ) | $ | 7 | — | $ | 72 | $ | 15 | — | ||||||||||||||||
Cumulative Effect of Accounting Changes | ||||||||||||||||||||||||||
Asset retirement obligations | $ | — | $ | — | — | $ | (11 | ) | $ | — | — | |||||||||||||||
Energy trading activities | — | — | — | (16 | ) | — | — | |||||||||||||||||||
$ | — | $ | — | — | $ | (27 | ) | $ | — | — | ||||||||||||||||
Reported Net Income (Loss) | $ | (23 | ) | $ | 68 | n/m | $ | 132 | $ | 268 | -51 | % | ||||||||||||||
Reported Earnings per Diluted Share | $ | (0.13 | ) | $ | 0.42 | -55 | % | $ | 0.79 | $ | 1.66 | -55 | % | |||||||||||||
Significant Items Impacting Comparability | ||||||||||||||||||||||||||
Unusual Items | ||||||||||||||||||||||||||
Loss on Sale of Steam Heating Business | $ | — | — | — | 0.08 | — | — | |||||||||||||||||||
Contribution to DTE Energy Foundation | — | — | — | 0.06 | — | — | ||||||||||||||||||||
Disallowance of Gas Costs | — | — | — | 0.10 | — | — | ||||||||||||||||||||
Energy Trading Activities (EITF 98-10 flowback) | — | — | — | (0.09 | ) | — | — | |||||||||||||||||||
Effective Tax Rate Adjustment | 0.60 | 0.15 | n/m | 0.86 | 0.08 | n/m | ||||||||||||||||||||
Discontinued Operations | ||||||||||||||||||||||||||
Income from operations of ITC | — | (0.04 | ) | — | (0.03 | ) | (0.09 | ) | -67 | % | ||||||||||||||||
Gain on sale of ITC | 0.01 | — | — | (0.40 | ) | — | — | |||||||||||||||||||
Cumulative Effect of Accounting Changes | ||||||||||||||||||||||||||
Asset Retirement Obligations (FAS 143) | — | — | — | 0.07 | — | — | ||||||||||||||||||||
Energy Trading Activities (EITF 98-10 implementation) | — | — | — | 0.09 | — | — | ||||||||||||||||||||
Operating Earnings per Diluted Share | $ | 0.48 | $ | 0.53 | -10 | % | $ | 1.53 | $ | 1.65 | -7 | % | ||||||||||||||
Average Common Shares | ||||||||||||||||||||||||||
Basic | 168 | 161 | 4 | % | 167 | 161 | 4 | % | ||||||||||||||||||
Diluted | 168 | 162 | 4 | % | 168 | 162 | 4 | % | ||||||||||||||||||
Dividends Declared per Common Share | $ | 0.515 | $ | 0.515 | $ | 1.03 | $ | 1.03 |
The Consolidated Statement of Operations (Preliminary/Unaudited) should be read in conjunction with the Notes to Consolidated Financial Statements appearing in the Annual Report to Shareholders, 10K and 10Q.
n/m — not meaningful
DTE ENERGY COMPANY AND SUBSIDIARY COMPANIES
Earnings Variance Analysis (Preliminary/Unaudited)
Q2 2002 Reported Earnings per Share | $ | 0.42 | ||||||||
Adjust for Q2 2002 Quarterly Effective Tax Rate Adjustment | 0.15 | |||||||||
Adjust for discontinued operations (ITC) | (0.04 | ) | ||||||||
Q2 2002 Operating Earnings per Share | $ | 0.53 | ||||||||
Regulated Electric | ||||||||||
Gross Margin | (0.28 | ) | ||||||||
- lower cooling demand driven by mild weather ($0.17/share impact) | ||||||||||
- margin loss due to choice and higher power supply rates | ||||||||||
O&M Expense | (0.04 | ) | ||||||||
- April storm restoration costs, increased plant maintenance and outage investments | ||||||||||
- higher pension and benefit costs | ||||||||||
Regulatory deferrals — environmental and customer choice | 0.09 | |||||||||
Other | 0.01 | |||||||||
Total Regulated Electric | (0.22 | ) | ||||||||
Regulated Gas | (0.04 | ) | ||||||||
Non Regulated | ||||||||||
Energy Services — primarily synfuel credits produced | 0.28 | |||||||||
Trading — primarily timing related mark-to-market losses in CoEnergy Portfolio | (0.06 | ) | ||||||||
Total Non-Regulated | 0.22 | |||||||||
Holding Company | (0.01 | ) | ||||||||
Q2 2003 Operating Earnings per Share | $ | 0.48 | ||||||||
Net Income Summary
(Preliminary/Unaudited)
(in millions, except per share amounts) | Reported | Operating | Operating | |||||||||||||||||||||||||||||||||
Q2 2003 | Adjustments | Q2 2003 | Q2 2002 | Variance | ||||||||||||||||||||||||||||||||
Energy Resources | ||||||||||||||||||||||||||||||||||||
Regulated — Power Generation | $ | 46 | $ | 46 | $ | 56 | $ | (10 | ) | |||||||||||||||||||||||||||
Non-Regulated | ||||||||||||||||||||||||||||||||||||
Energy Services | ||||||||||||||||||||||||||||||||||||
Coal Based Fuels | 62 | A | $ | 62 | $ | 34 | $ | 28 | ||||||||||||||||||||||||||||
On Site Energy Projects | 1 | 1 | 2 | (1 | ) | |||||||||||||||||||||||||||||||
Merchant Generation | 16 | B | 16 | (1 | ) | 17 | ||||||||||||||||||||||||||||||
Other | (3 | ) | (3 | ) | (5 | ) | 2 | |||||||||||||||||||||||||||||
Coal Services | 3 | 3 | 3 | — | ||||||||||||||||||||||||||||||||
Biomass Energy | 1 | 1 | 1 | — | ||||||||||||||||||||||||||||||||
Energy Trading & CoEnergy Portfolio | (15 | ) | (15 | ) | (5 | ) | (10 | ) | ||||||||||||||||||||||||||||
Energy Resources Overheads | (3 | ) | (3 | ) | (5 | ) | 2 | |||||||||||||||||||||||||||||
Total Energy Resources Non-Regulated | $ | 62 | $ | — | $ | 62 | $ | 24 | $ | 38 | ||||||||||||||||||||||||||
Total Energy Resources | $ | 108 | $ | — | $ | 108 | $ | 80 | $ | 28 | ||||||||||||||||||||||||||
Energy Distribution | ||||||||||||||||||||||||||||||||||||
Regulated — Power Distribution | $ | (7 | ) | $ | (7 | ) | $ | 18 | $ | (25 | ) | |||||||||||||||||||||||||
Non Regulated (Energy Technologies) | (5 | ) | (5 | ) | (4 | ) | (1 | ) | ||||||||||||||||||||||||||||
Total Energy Distribution | $ | (12 | ) | $ | — | $ | (12 | ) | $ | 14 | $ | (26 | ) | |||||||||||||||||||||||
Energy Gas | ||||||||||||||||||||||||||||||||||||
Regulated | $ | (8 | ) | $ | (8 | ) | $ | (1 | ) | $ | (7 | ) | ||||||||||||||||||||||||
Non-Regulated | 6 | 6 | 8 | (2 | ) | |||||||||||||||||||||||||||||||
Total Energy Gas | $ | (2 | ) | $ | — | $ | (2 | ) | $ | 7 | $ | (9 | ) | |||||||||||||||||||||||
Holding Company & Other | ||||||||||||||||||||||||||||||||||||
Energy Technology Investments | $ | (4 | ) | $ | (4 | ) | $ | (2 | ) | $ | (2 | ) | ||||||||||||||||||||||||
Other | (111 | ) | 100 | C | (11 | ) | (13 | ) | D | 2 | ||||||||||||||||||||||||||
Total Holding Company & Other | $ | (115 | ) | $ | 100 | $ | (15 | ) | $ | (15 | ) | $ | — | |||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||||||||||
Regulated | ||||||||||||||||||||||||||||||||||||
Electric | $ | 39 | $ | 39 | $ | 74 | $ | (35 | ) | |||||||||||||||||||||||||||
Gas | (8 | ) | (8 | ) | (1 | ) | (7 | ) | ||||||||||||||||||||||||||||
Non-Regulated | 59 | E | 59 | 26 | 33 | |||||||||||||||||||||||||||||||
Holding Company/Other | (111 | ) | 100 | (11 | ) | (13 | ) | 2 | ||||||||||||||||||||||||||||
Total | $ | (21 | ) | $ | 100 | $ | 79 | $ | 86 | $ | (7 | ) | ||||||||||||||||||||||||
Discontinued Operations | ||||||||||||||||||||||||||||||||||||
ITC | $ | (2 | ) | $ | 2 | F | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Total Net Income (Loss) | $ | (23 | ) | $ | 102 | $ | 79 | $ | 86 | $ | (7 | ) | ||||||||||||||||||||||||
Total Diluted EPS | $ | (0.13 | ) | $ | 0.61 | $ | 0.48 | $ | 0.53 | $ | (0.05 | ) | ||||||||||||||||||||||||
Average Diluted Shares Outstanding | 168 | 168 | 162 |
Key:
A — Coal based fuels includes a $9.6 million (net of tax) reserve for a potential uncollectible account
B — Merchant generation includes a $20 million (net of tax) gain associated with the termination of a long-term tolling contract
C — Effective tax rate adjustment
D — Reported was (38), which included a (25) effective tax rate adjustment
E — Includes energy technology investments
F — Gain on sale of International Transmission Company
DTE ENERGY COMPANY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (PRELIMINARY/UNAUDITED)
(in Millions)
June 30 | Dec. 31 | Percent | ||||||||||||
ASSETS | 2003 | 2002 | Change | |||||||||||
Current Assets | ||||||||||||||
Cash and cash equivalents | $ | 103 | $ | 133 | -23 | % | ||||||||
Restricted cash | 126 | 237 | -47 | % | ||||||||||
Accounts receivable | ||||||||||||||
Customer (less allow. for doubtful accounts of $123 and $82) | 930 | 902 | 3 | % | ||||||||||
Accrued unbilled revenues | 190 | 296 | -36 | % | ||||||||||
Other | 370 | 237 | 56 | % | ||||||||||
Inventories | ||||||||||||||
Fuel and gas | 367 | 413 | -11 | % | ||||||||||
Materials and supplies | 159 | 163 | -2 | % | ||||||||||
Assets from risk management and trading activities | 349 | 224 | 56 | % | ||||||||||
Other | 114 | 159 | -28 | % | ||||||||||
$ | 2,708 | $ | 2,764 | -2 | % | |||||||||
Investments | ||||||||||||||
Nuclear decommissioning trust funds | $ | 466 | $ | 417 | 12 | % | ||||||||
Other | 484 | 487 | -1 | % | ||||||||||
$ | 950 | $ | 904 | 5 | % | |||||||||
Property | ||||||||||||||
Property, plant and equipment | $ | 17,534 | $ | 17,862 | -2 | % | ||||||||
Less accumulated depreciation and depletion | (7,856 | ) | (8,049 | ) | 2 | % | ||||||||
$ | 9,678 | $ | 9,813 | -2 | % | |||||||||
Other Assets | ||||||||||||||
Goodwill | $ | 2,086 | $ | 2,119 | -2 | % | ||||||||
Regulatory assets | 2,066 | 1,197 | 72 | % | ||||||||||
Securitized regulatory assets | 1,571 | 1,613 | -1 | % | ||||||||||
Assets from risk management and trading activities | 247 | 152 | 8 | % | ||||||||||
Prepaid pension assets | 177 | 172 | 2 | % | ||||||||||
Other | 539 | 504 | 2 | % | ||||||||||
$ | 6,686 | $ | 5,757 | 3 | % | |||||||||
Total Assets | $ | 20,022 | $ | 19,238 | 4 | % | ||||||||
LIABILITIES AND | June 30 | Dec. 31 | Percent | ||||||||||||
SHAREHOLDERS' EQUITY | 2003 | 2002 | Change | ||||||||||||
Current Liabilities | |||||||||||||||
Accounts payable | $ | 839 | $ | 647 | 30 | % | |||||||||
Accrued interest | 114 | 115 | -1 | % | |||||||||||
Dividends payable | 91 | 90 | 1 | % | |||||||||||
Accrued payroll | 41 | 49 | -16 | % | |||||||||||
Short-term borrowings | 231 | 414 | -44 | % | |||||||||||
Current portion long-term debt, including capital leases | 744 | 1,018 | -27 | % | |||||||||||
Liab. from risk mgmt. and trading activities | 404 | 284 | 42 | % | |||||||||||
Other | 550 | 596 | -8 | % | |||||||||||
$ | 3,014 | $ | 3,213 | -6 | % | ||||||||||
Other Liabilities | |||||||||||||||
Deferred income taxes | $ | 1,154 | $ | 916 | 26 | % | |||||||||
Regulatory liabilities | 171 | 179 | -4 | % | |||||||||||
Asset retirement obligations | 841 | — | — | ||||||||||||
Unamortized investment tax credit | 162 | 168 | -4 | % | |||||||||||
Liab. from risk mgmt. and trading activities | 345 | 208 | 66 | % | |||||||||||
Liab. from transportation and storage contracts | 497 | 523 | -5 | % | |||||||||||
Accrued pension liability | 389 | 582 | -33 | % | |||||||||||
Nuclear decommissioning | 59 | 416 | -86 | % | |||||||||||
Other | 691 | 683 | 1 | % | |||||||||||
$ | 4,309 | $ | 3,675 | 17 | % | ||||||||||
Long-Term Debt | |||||||||||||||
Mortgage bonds, notes and other | $ | 5,671 | $ | 5,656 | — | ||||||||||
Securitization bonds | 1,539 | 1,585 | -3 | % | |||||||||||
Equity-linked securities | 188 | 191 | -2 | % | |||||||||||
Capital lease obligations | 79 | 82 | -4 | % | |||||||||||
$ | 7,477 | $ | 7,514 | — | |||||||||||
Preferred Securities of Subsidiaries | $ | 271 | $ | 271 | — | ||||||||||
Shareholders’ Equity | |||||||||||||||
Common stock | $ | 3,076 | $ | 3,052 | 1 | % | |||||||||
Retained earnings | 2,096 | 2,132 | -2 | % | |||||||||||
Accumulated other comprehensive loss | (221 | ) | (619 | ) | -64 | % | |||||||||
$ | 4,951 | $ | 4,565 | 8 | % | ||||||||||
Total Liabilities and Shareholders’ Equity | $ | 20,022 | $ | 19,238 | 4 | % | |||||||||
The Consolidated Statement of Financial Position (Preliminary/Unaudited) should be read in conjunction with the
Notes to Consolidated Financial Statements appearing in the Annual Report to Shareholders, Form 10K and 10Q.
n/m — not meaningful
Detroit Edison Company
Consolidated Statement of Operations (Preliminary/Unaudited)
(in Millions)
3 Months - June | 6 Months - June | ||||||||||||||||||||||||
2003 | 2002 | % Change | 2003 | 2002 | % Change | ||||||||||||||||||||
Operating Revenues | $ | 870 | $ | 962 | -10 | % | $ | 1,807 | $ | 1,892 | -4 | % | |||||||||||||
Operating Expenses | |||||||||||||||||||||||||
Fuel and purchased power | $ | 226 | $ | 246 | -8 | % | $ | 474 | $ | 455 | 4 | % | |||||||||||||
Operation and maintenance | 330 | 321 | 3 | % | 696 | 597 | 17 | % | |||||||||||||||||
Depreciation and amortization | 124 | 138 | -10 | % | 259 | 285 | -9 | % | |||||||||||||||||
Taxes other than income | 65 | 65 | — | 137 | 137 | — | |||||||||||||||||||
$ | 745 | $ | 770 | -3 | % | $ | 1,566 | $ | 1,474 | 6 | % | ||||||||||||||
Operating Income | $ | 125 | $ | 192 | -35 | % | $ | 241 | $ | 418 | -42 | % | |||||||||||||
Other (Income) and Deductions | |||||||||||||||||||||||||
Interest expense | $ | 71 | $ | 78 | -9 | % | $ | 146 | $ | 156 | -6 | % | |||||||||||||
Interest income | — | — | — | — | (1 | ) | — | ||||||||||||||||||
Other income | (22 | ) | (6 | ) | n/m | (33 | ) | (12 | ) | n/m | |||||||||||||||
Other expenses | 17 | 7 | n/m | 37 | 24 | 54 | % | ||||||||||||||||||
$ | 66 | $ | 79 | -16 | % | $ | 150 | $ | 167 | -10 | % | ||||||||||||||
Income Before Income Taxes | $ | 59 | $ | 113 | -48 | % | $ | 91 | $ | 251 | -64 | % | |||||||||||||
Income Tax Provision | $ | 20 | $ | 39 | -49 | % | $ | 31 | $ | 84 | -63 | % | |||||||||||||
Income Before Accounting Change | $ | 39 | $ | 74 | -47 | % | $ | 60 | $ | 167 | -64 | % | |||||||||||||
Cumulative Effect of Accounting Change | — | — | — | (6 | ) | — | — | ||||||||||||||||||
Reported Net Income | $ | 39 | $ | 74 | -47 | % | $ | 54 | $ | 167 | -68 | % | |||||||||||||
Cumulative Effect of Accounting Changes | |||||||||||||||||||||||||
Asset Retirement Obligations (FAS 143) | — | — | — | 6 | — | — | |||||||||||||||||||
Unusual Items | |||||||||||||||||||||||||
Loss on Sale of Steam Heating Business | — | — | — | 14 | — | — | |||||||||||||||||||
Elimination of Intercompany Gain | — | — | — | — | (4 | ) | — | ||||||||||||||||||
Operating Net Income | $ | 39 | $ | 74 | -47 | % | $ | 74 | $ | 163 | -55 | % | |||||||||||||
The Consolidated Statement of Operations (Preliminary/Unaudited) should be read in
conjunction with the Notes to Consolidated Financial Statements appearing in the
Annual Report to Shareholders, Form 10K and Form 10Q.
n/m — not meaningful
Michigan Consolidated Gas Company
Consolidated Statement of Operations (Preliminary/Unaudited)
(in Millions)
3 Months - June | 6 Months - June | ||||||||||||||||||||||||
2003 | 2002 | % Change | 2003 | 2002 | % Change | ||||||||||||||||||||
Operating Revenues | $ | 284 | $ | 235 | 21 | % | $ | 936 | $ | 825 | 13 | % | |||||||||||||
Operating Expenses | |||||||||||||||||||||||||
Cost of gas | $ | 160 | $ | 116 | 38 | % | $ | 581 | $ | 500 | 16 | % | |||||||||||||
Operation and maintenance | 83 | 73 | 14 | % | 161 | 140 | 15 | % | |||||||||||||||||
Depreciation, depletion and amortization | 28 | 27 | 4 | % | 53 | 53 | — | ||||||||||||||||||
Taxes other than income | 13 | 11 | 18 | % | 30 | 27 | 11 | % | |||||||||||||||||
Property write-down and contract losses | 5 | 48 | n/m | 5 | 48 | — | |||||||||||||||||||
$ | 289 | $ | 275 | 5 | % | $ | 830 | $ | 768 | 8 | % | ||||||||||||||
Operating Income (Loss) | $ | (5 | ) | $ | (40 | ) | 88 | % | $ | 106 | $ | 57 | 86 | % | |||||||||||
Other (Income) and Deductions | |||||||||||||||||||||||||
Interest expense | 14 | 16 | -13 | % | 29 | 32 | -9 | % | |||||||||||||||||
Interest income | (3 | ) | (2 | ) | 50 | % | (6 | ) | (6 | ) | — | ||||||||||||||
Other | (1 | ) | (2 | ) | -50 | % | (2 | ) | (2 | ) | — | ||||||||||||||
$ | 10 | $ | 12 | 17 | % | $ | 21 | $ | 24 | 13 | % | ||||||||||||||
Income (Loss) Before Income Taxes | $ | (15 | ) | $ | (52 | ) | 71 | % | $ | 85 | $ | 33 | n/m | ||||||||||||
Income Tax Provision (Benefit) | (4 | ) | (18 | ) | 78 | % | 21 | 12 | 75 | % | |||||||||||||||
Reported Net Income (Loss) | $ | (11 | ) | $ | (34 | ) | 68 | % | $ | 64 | $ | 21 | n/m | ||||||||||||
Purchase Accounting and Other Adjustments | 3 | 33 | n/m | 4 | 32 | n/m | |||||||||||||||||||
Operating Net Income (Loss) (A) | $ | (8 | ) | $ | (1 | ) | n/m | $ | 68 | $ | 53 | 28 | % | ||||||||||||
The Consolidated Statement of Operations (Preliminary/Unaudited) should be
read in conjunction with the Notes to Consolidated Financial Statements
appearing in the Annual Report to Shareholders, Form 10K and Form 10Q.
(A) | Represents MichCon’s results included in the DTE | |
Energy Consolidated Statement of Operations. |
n/m — not meaningful
Sales Analysis
Electric — Detroit Edison Service Area (MWh)
Q2 2003 | Q2 2002 | % Change | ||||||||||||
Residential | 3,242,646 | 3,527,434 | -8.1 | % | ||||||||||
Commercial | 3,961,682 | 4,718,237 | -16.0 | % | ||||||||||
Industrial | 3,134,495 | 3,536,682 | -11.4 | % | ||||||||||
Other | 639,050 | 634,854 | 0.7 | % | ||||||||||
TOTAL SYSTEM | 10,977,873 | 12,417,207 | -11.6 | % | ||||||||||
Choice Sales* | 1,844,169 | 761,341 | 142.2 | % | ||||||||||
TOTAL SALES | 12,822,042 | 13,178,548 | -2.7 | % | ||||||||||
Interconnection Sales | 619,249 | 717,046 | -13.6 | % | ||||||||||
(not included above) |
* | Includes Dearborn Industrial Group sales |
Gas — MichCon Service Area (Mcf)
Q2 2003 | Q2 2002 | % Change | |||||||||||
Residential | 24,713,839 | 22,044,213 | 12.1 | % | |||||||||
Commercial | 6,647,296 | 7,122,666 | -6.7 | % | |||||||||
Industrial | 238,568 | 306,361 | -22.1 | % | |||||||||
31,599,703 | 29,473,240 | 7.2 | % | ||||||||||
End Use Transportation | 25,578,325 | 37,908,012 | -32.5 | % | |||||||||
(includes choice customers) | |||||||||||||
TOTAL SALES | 57,178,028 | 67,381,252 | -15.1 | % | |||||||||
Weather
Cooling Degree Days (Detroit Edison service area)
Q2 2003 | Q2 2002 | % Change | |||||||||||
Actuals | 106 | 256 | -59 | % | |||||||||
Normal | 187 | 187 | |||||||||||
Deviation from normal | -43.3 | % | 36.9 | % |
Heating Degree Days(MichCon service area)
Q2 2003 | Q2 2002 | % Change | |||||||||||
Actuals | 909 | 884 | 3 | % | |||||||||
Normal | 882 | 876 | |||||||||||
Deviation from normal | 3.1 | % | 0.9 | % |