8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________

FORM 8-K

_____________________________

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 14, 2014

Commission File Number	Exact Name of Registrant as Specified in its Charter, State of Incorporation, Address of Principal Executive Offices and Telephone Number	IRS Employer Identification No.
1-11607	DTE Energy Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-3217752
1-2198	DTE Electric Company (a Michigan corporation) One Energy Plaza Detroit, Michigan 48226-1279 313-235-4000	38-0478650

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

DTE Energy Company (DTE Energy) is furnishing the Securities and Exchange Commission (SEC) with its earnings release issued February 14, 2014, announcing financial results for the year ended December 31, 2013. A copy of the earnings release and the financial information distributed for media and investor relations communications are furnished as Exhibits 99.1 and 99.2 and incorporated herein by reference. In its earnings release and the slide presentation discussed below, DTE Energy increased its 2014 operating earnings guidance range to $4.20-4.40 per share from $4.15-4.39 per share.

Item 7.01. Regulation FD Disclosure.

DTE Energy is furnishing the SEC with its slide presentation issued February 14, 2014. A copy of the slide presentation is furnished as Exhibit 99.3 and incorporated herein by reference.

In its earnings release, slide presentation and this filing, DTE Energy discusses 2014 operating earnings guidance. It is likely that certain items that impact the company's 2014 reported results will be excluded from operating results. Reconciliations to the comparable 2014 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1, 99.2 and 99.3, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1     Earnings Release of DTE Energy Company dated February 14, 2014.

99.2 Financial Information Distributed for Media and Investor Relations Communications

dated February 14, 2014.

99.3     Slide Presentation of DTE Energy Company dated February 14, 2014.

Forward-Looking Statements:

This Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the “Forward-Looking Statements” section in DTE Energy's and DTE Electric Company's (DTE Electric) 2012 Forms 10-K and 2013 Forms 10-Q (which sections are incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric that discuss important factors that could cause DTE Energy's and DTE Electric's actual results to differ materially. DTE Energy and DTE Electric expressly disclaim any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date: February 14, 2014
	DTE ENERGY COMPANY (Registrant)
	/s/PETER B. OLEKSIAK Peter B. Oleksiak Senior Vice President and Chief Financial Officer

DTE ELECTRIC COMPANY

(Registrant)

 /s/PETER B. OLEKSIAK

Peter B. Oleksiak

Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit

NumberDescription

99.1    Earnings Release of DTE Energy Company dated February 14, 2014.

99.2    Financial Information Distributed for Media and Investor Relations Communications

dated February 14, 2014.

99.3    Slide Presentation of DTE Energy Company dated February 14, 2014.

EX-99.1

EXHIBIT 99.1

February 14, 2014

DTE Energy announces solid 2013 financial results; Company increases 2014 operating earnings guidance midpoint to $4.30

DETROIT - DTE Energy (NYSE:DTE) today reported 2013 earnings of $661 million, or $3.76 per diluted share, compared with $610 million, or $3.55 per diluted share in 2012.

2013 operating earnings were $720 million, or $4.09 per diluted share, compared with 2012 operating earnings of $676 million, or $3.94 per diluted share. Operating earnings for 2013 and 2012 exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are at the end of this news release.

“2013 was successful for us on many fronts,” said Gerard M. Anderson, DTE Energy chairman and CEO. “In addition to our strong financial performance, we made great strides in improving employee engagement. I’m proud to say that DTE received the Gallup organization’s ‘Great Workplace Award’ and our employee engagement scores increased for the seventh year in a row. I believe that having engaged, dedicated employees helped drive our financial success as well as our customer service, community involvement and operational accomplishments.”

When highlighting recent accomplishments, Anderson noted that customers remained DTE Energy’s primary focus as it worked to implement strategies to enhance system reliability and safety, reduce costs and increase customer satisfaction.

In reviewing 2013 successes, Anderson noted:

• DTE Energy continues to be a top performer in cost control and productivity in the industry. On-going efforts to reduce the company’s cost structure, coupled with lower fuel supply costs and reduced cost of providing energy from wind, allowed DTE to lower residential electric rates by approximately 6.5 percent in January 2014.

• The company is in the top 25% of its peer group in the J.D. Power customer satisfaction rankings at both the electric and gas utilities.

• DTE Energy is ahead of schedule in investing in renewable energy. The Echo wind park was constructed in 2013 and will go online shortly, bringing the total amount of renewables that DTE has built or contracted for up to 9.6 percent of sales against our 10 percent target for 2015.

• In 2013, the company spent more than $800 million with Michigan-based companies on goods and services. This surpassed the company’s goal of $625 million by almost 30 percent. DTE also increased spending 15 percent within the city of Detroit to $140 million, compared with $122 million in 2012.

“A year ago when I announced our 2012 earnings, I said that our aspiration was to become the best operated energy company in North America and a force for growth and prosperity in the communities we serve,” Anderson said. “We made progress toward that goal this past year and remain committed to finding additional ways to provide clean, reliable and affordable energy for our customers while providing shareholders with an attractive dividend and five percent to six percent annual earnings per share growth. Following this course of action will steer us toward our goal to become the best operating energy company in North America.”

Increasing operating earnings guidance for 2014

DTE Energy increased its previously communicated 2014 operating earnings guidance of $4.15 - $4.39 per diluted share to $4.20 to $4.40 per diluted share.

“Solid earnings and cash flow driven by increased weather related sales and continued cost control coupled with a strong balance sheet, allowed us to increase our dividend in 2013 and helped us finish the year at the high end of our earnings guidance range,” said Peter Oleksiak, DTE Energy senior vice president and chief

financial officer. “This strong financial performance allows us to increase our 2014 earnings per share midpoint,” added Oleksiak. “We continue to target a 60 percent to 70 percent dividend payout target while maintaining our strong balance sheet and credit ratings.”

This earnings announcement, as well as a package of slides and supplemental information, is available at www.dteenergy.com.

DTE Energy plans to conduct a conference call with the investment community hosted by Anderson at 9:00 a.m. ET today, to discuss 2013 earnings results. Investors, the news media and the public may listen to a live internet broadcast of the call at www.dteenergy.com/investors. The telephone dial-in numbers are US and Canada toll free: (888) 726-2470 or International toll: (913) 312-1469. The passcode is 3326579.The internet broadcast will be archived on the company’s website. An audio replay of the call will be available from noon today to February 28. To access the replay, dial (888) 203-1112 or (719) 457-0820 and enter passcode 3326579.

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include DTE Electric, an electric utility serving 2.1 million customers in Southeastern Michigan, DTE Gas, a natural gas utility serving 1.2 million customers in Michigan and other non-utility, energy businesses focused on gas storage and pipelines, power and industrial projects, and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.

Use of Operating Earnings Information - DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors.

In this release, DTE Energy discusses 2013 operating earnings guidance. It is likely that certain items that impact the company's 2013 reported results will be excluded from operating results. Reconciliations to the comparable 2013 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

The information contained herein is as of the date of this release. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this release as a result of new information or future events or developments. Words such as “anticipate,” “believe,” “expect,” “projected,” “aspiration” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various assumptions, risks and uncertainties. This release contains forward-looking statements about DTE Energy’s financial results and estimates of future prospects, and actual results may differ materially.

Many factors may impact forward-looking statements including, but not limited to, the following: impact of regulation by the FERC, MPSC, NRC and other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals or new legislation; impact of electric and natural gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation and increased thefts of electricity and natural gas and high levels of uncollectible accounts receivable; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental and regulatory risks associated with ownership and operation of nuclear facilities; changes in the cost and availability of coal and other raw materials, purchased power and natural gas; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; volatility in the short-term natural gas storage markets impacting third-party storage revenues; volatility in commodity markets impacting the results of our energy trading operations; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings the potential for increased costs or delays in completion of significant construction projects; changes in and application of federal, state and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings and audits; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy and other business issues; binding arbitration, litigation and related appeals; and the risks discussed in our public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause our results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This release should also be read in conjunction with the “Forward-Looking Statements” sections in each of DTE Energy’s and DTE Electric’s 2012 Forms 10-K and 2013 Forms 10-Q (which sections are incorporated herein by reference), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric.

# # #

For further information, members of the media may call:

Scott Simons(313) 235-8808

Alejandro Bodipo-Memba(313) 235-3202

Analysts, for further information call:

Anastasia Minor (313) 235-8466

Benny Riggi(313) 235-3208

DTE Energy Company
Consolidated Statements of Operations
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2013			2012			2013			2012
	(In millions, except per share amounts)
Operating Revenues	$	2,533		$	2,349		$	9,661		$	8,791
Operating Expenses
Fuel, purchased power and gas	1,124			949			4,055			3,296
Operation and maintenance	810			781			2,978			2,892
Depreciation, depletion and amortization	283			265			1,094			995
Taxes other than income	78			80			340			332
Asset (gains) and losses, reserves and impairments, net	(3		)	7			(9		)	(3		)
	2,292			2,082			8,458			7,512
Operating Income	241			267			1,203			1,279
Other (Income) and Deductions
Interest expense	109			110			436			440
Interest income	(2		)	(3		)	(9		)	(10		)
Other income	(53		)	(48		)	(201		)	(173		)
Other expenses	32			34			55			62
	86			93			281			319
Income Before Income Taxes	155			174			922			960
Income Tax Expense	29			35			254			286
Income from Continuing Operations	126			139			668			674
Loss from Discontinued Operations, net of tax	—			(56		)	—			(56		)
Net Income	126			83			668			618
Less: Net Income Attributable to Noncontrolling Interest	2			2			7			8
Net Income Attributable to DTE Energy Company	$	124		$	81		$	661		$	610
Basic Earnings per Common Share
Income from continuing operations	$	0.70		$	0.79		$	3.76		$	3.89
Loss from discontinued operations, net of tax	—			(0.32		)	—			(0.33		)
Total	$	0.70		$	0.47		$	3.76		$	3.56
Diluted Earnings per Common Share
Income from continuing operations	$	0.70		$	0.79		$	3.76		$	3.88
Loss from discontinued operations, net of tax	—			(0.32		)	—			(0.33		)
Total	$	0.70		$	0.47		$	3.76		$	3.55
Weighted Average Common Shares Outstanding
Basic	177			172			175			171
Diluted	177			173			175			172
Dividends Declared per Common Share	$	0.66		$	0.62		$	2.59		$	2.42

DTE Energy Company
Segment Net Income
	Three Months Ended December 31,
	2013									2012
(in Millions)	Reported Earnings			Adjustments			Operating Earnings			Reported Earnings			Adjustments			Operating Earnings
DTE Electric	$	101		$	—		$	101		$	66		$	—		$	66
DTE Gas	52			—			52			55			—			55
Non-utility Operations
Gas Storage and Pipelines	21			—			21			13			—			13
Power and Industrial Projects	20			—			20			2			7		B	12
													2		C
													1		D
Energy Trading	(57		)	55		A	(2		)	9			—			9
Total Non-utility operations	(16		)	55			39			24			10			34
Corporate and Other	(13		)	—			(13		)	(8		)	—			(8		)
Income from Continuing Operations	124			55			179			137			10			147
Discontinued Operations	—			—			—			(56		)	56		E	—
Net Income Attributable to DTE Energy Company	$	124		$	55		$	179		$	81		$	66		$	147
Adjustments key
A) Energy Trading accounting timing of mark to market adjustment
B) Settlement related to sale of coke oven gas
C) Loss on sale of coal transloading terminal
D) Petroleum coke asset impairment
E) Discontinued operations of Unconventional Gas Production business

DTE Energy Company
Segment Diluted Earnings Per Share
	Three Months Ended December 31,
	2013									2012
	Reported Earnings			Adjustments			Operating Earnings			Reported Earnings			Adjustments			Operating Earnings
DTE Electric	$	0.57		$	—		$	0.57		$	0.38		$	—		$	0.38
DTE Gas	0.29			—			0.29			0.32			—			0.32
Non-utility Operations
Gas Storage and Pipelines	0.12			—			0.12			0.08			—			0.08
Power and Industrial Projects	0.11			—			0.11			0.01			0.04		B	0.07
													0.01		C
													0.01		D
Energy Trading	(0.32		)	0.31		A	(0.01		)	0.05			—			0.05
Total Non-utility operations	(0.09		)	0.31			0.22			0.14			0.06			0.20
Corporate and Other	(0.07		)	—			(0.07		)	(0.05		)	—			(0.05		)
Income from Continuing Operations	0.70			0.31			1.01			0.79			0.06			0.85
Discontinued Operations	—			—			—			(0.32		)	0.32		E	—
Net Income Attributable to DTE Energy Company	$	0.70		$	0.31		$	1.01		$	0.47		$	0.38		$	0.85
Adjustments key
A) Energy Trading accounting timing of mark to market adjustment
B) Settlement related to sale of coke oven gas
C) Loss on sale of coke transloading terminal
D) Petroleum coke asset impairment
E) Discontinued operations of Unconventional Gas Production business

DTE Energy Company
Segment Net Income
	Twelve Months Ended December 31,
	2013									2012
(in Millions)	Reported Earnings			Adjustments			Operating Earnings			Reported Earnings			Adjustments			Operating Earnings
DTE Electric	$	484		$	—		$	484		$	483		$	—		$	483
DTE Gas	143			—			143			115			—			115
Non-utility Operations
Gas Storage and Pipelines	70			—			70			61			—			61
Power and Industrial Projects	66			4		A	70			42			7		C	52
													2		D
													1		E
Energy Trading	(58		)	55		B	(3		)	12			—			12
Total Non-utility operations	78			59			137			115			10			125
Corporate and Other	(44		)	—			(44		)	(47		)	—			(47		)
Income from Continuing Operations	661			59			720			666			10			676
Discontinued Operations	—			—			—			(56		)	56		F	—
Net Income Attributable to DTE Energy Company	$	661		$	59		$	720		$	610		$	66		$	676
Adjustments key
A) Asset impairment
B) Energy Trading accounting timing of mark to market adjustment
C) Settlement related to sale of coke oven gas
D) Loss on sale of coal transloading terminal
E) Petroleum coke asset impairment
F) Discontinued operations of Unconventional Gas Production business

DTE Energy Company
Segment Diluted Earnings Per Share
	Twelve Months Ended December 31,
	2013									2012
	Reported Earnings			Adjustments			Operating Earnings			Reported Earnings			Adjustments			Operating Earnings
DTE Electric	$	2.76		$	—		$	2.76		$	2.81		$	—		$	2.81
DTE Gas	0.80			—			0.80			0.67			—			0.67
Non-utility Operations
Gas Storage and Pipelines	0.40			—			0.40			0.36			—			0.36
Power and Industrial Projects	0.38			0.02		A	0.40			0.24			0.04		C	0.30
													0.01		D
													0.01		E
Energy Trading	(0.33		)	0.31		B	(0.02		)	0.07			—			0.07
Total Non-utility operations	0.45			0.33			0.78			0.67			0.06			0.73
Corporate and Other	(0.25		)	—			(0.25		)	(0.27		)	—			(0.27		)
Income from Continuing Operations	3.76			0.33			4.09			3.88			0.06			3.94
Discontinued Operations	—			—			—			(0.33		)	0.33		F	—
Net Income Attributable to DTE Energy Company	$	3.76		$	0.33		$	4.09		$	3.55		$	0.39		$	3.94
Adjustments key
A) Asset impairment
B) Energy Trading accounting timing of mark to market adjustment
C) Settlement related to sale of coke oven gas
D) Loss on sale of coal transloading terminal
E) Petroleum coke asset impairment
F) Discontinued operations of Unconventional Gas Production business

EX-99.2

EXHIBIT 99.2

DTE Energy Company

Consolidated Statements of Financial Position

	December 31,
	2013			2012
	(In millions)
ASSETS
Current Assets
Cash and cash equivalents	$	52		$	65
Restricted cash, principally Securitization	123			122
Accounts receivable (less allowance for doubtful accounts of $55 and $62, respectively)
Customer	1,542			1,336
Other	127			126
Inventories
Fuel and gas	363			527
Materials and supplies	265			234
Derivative assets	99			108
Regulatory assets	26			182
Other	209			215
	2,806			2,915
Investments
Nuclear decommissioning trust funds	1,191			1,037
Other	603			554
	1,794			1,591
Property
Property, plant and equipment	25,123			23,631
Less accumulated depreciation, depletion and amortization	(9,323		)	(8,947		)
	15,800			14,684
Other Assets
Goodwill	2,018			2,018
Regulatory assets	2,837			4,235
Securitized regulatory assets	231			413
Intangible assets	122			135
Notes receivable	102			112
Derivative assets	27			39
Other	198			197
	5,535			7,149
Total Assets	$	25,935		$	26,339

DTE Energy Company

Consolidated Statements of Financial Position — (Continued)

	December 31,
	2013			2012
	(In millions, except shares)
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$	962		$	848
Accrued interest	90			93
Dividends payable	116			107
Short-term borrowings	131			240
Current portion long-term debt, including capital leases	898			817
Derivative liabilities	195			125
Regulatory liabilities	302			89
Other	495			449
	3,189			2,768
Long-Term Debt (net of current portion)
Mortgage bonds, notes and other	6,618			6,220
Securitization bonds	105			302
Junior subordinated debentures	480			480
Capital lease obligations	11			12
	7,214			7,014
Other Liabilities
Deferred income taxes	3,321			3,191
Regulatory liabilities	862			1,031
Asset retirement obligations	1,827			1,719
Unamortized investment tax credit	47			56
Derivative liabilities	43			26
Accrued pension liability	653			1,498
Accrued postretirement liability	350			1,160
Nuclear decommissioning	178			159
Other	297			306
	7,578			9,146
Commitments and Contingencies
Equity
Common stock, without par value, 400,000,000 shares authorized, 177,087,230 and 172,351,680 shares issued and outstanding, respectively	3,907			3,587
Retained earnings	4,150			3,944
Accumulated other comprehensive loss	(136		)	(158		)
Total DTE Energy Company Equity	7,921			7,373
Noncontrolling interests	33			38
Total Equity	7,954			7,411
Total Liabilities and Equity	$	25,935		$	26,339

DTE Energy Company

Consolidated Statements of Cash Flows

	Year Ended December 31,
	2013			2012			2011
	(In millions)
Operating Activities
Net income	$	668		$	618		$	720
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization	1,094			1,018			995
Nuclear fuel amortization	38			29			46
Allowance for equity funds used during construction	(15		)	(13		)	(6		)
Deferred income taxes	164			47			220
Loss on sale of non-utility business	—			83			—
Asset (gains) and losses, reserves and impairments, net	(8		)	1			(21		)
Changes in assets and liabilities:
Accounts receivable, net	(154		)	52			71
Inventories	123			35			(129		)
Accounts payable	14			40			(23		)
Derivative assets and liabilities	107			53			(94		)
Accrued pension obligation	(644		)	280			432
Accrued postretirement obligation	(526		)	(323		)	209
Regulatory assets and liabilities	1,269			278			(662		)
Other assets	(24		)	55			44
Other liabilities	48			(44		)	206
Net cash from operating activities	2,154			2,209			2,008
Investing Activities
Plant and equipment expenditures — utility	(1,534		)	(1,451		)	(1,382		)
Plant and equipment expenditures — non-utility	(342		)	(369		)	(102		)
Proceeds from sale of non-utility business	—			255			—
Proceeds from sale of assets	36			38			18
Restricted cash for debt redemption, principally Securitization	(1		)	2			(5		)
Acquisition, net of cash acquired	—			(198		)	—
Proceeds from sale of nuclear decommissioning trust fund assets	1,118			759			833
Investment in nuclear decommissioning trust funds	(1,134		)	(764		)	(850		)
Other	(49		)	(41		)	(72		)
Net cash used for investing activities	(1,906		)	(1,769		)	(1,560		)
Financing Activities
Issuance of long-term debt, net of issuance costs	1,234			759			1,179
Redemption of long-term debt	(961		)	(639		)	(1,455		)
Short-term borrowings, net	(109		)	(179		)	269
Issuance of common stock	39			39			—
Repurchase of common stock	—			—			(18		)
Dividends on common stock	(445		)	(407		)	(389		)
Other	(19		)	(16		)	(31		)
Net cash used for financing activities	(261		)	(443		)	(445		)
Net Increase (Decrease) in Cash and Cash Equivalents	(13		)	(3		)	3
Cash and Cash Equivalents at Beginning of Period	65			68			65
Cash and Cash Equivalents at End of Period	$	52		$	65		$	68

DTE Electric Company

Consolidated Statements of Operations

	Year Ended December 31,
	2013			2012			2011
	(In millions)
Operating Revenues	$	5,197		$	5,291		$	5,152
Operating Expenses
Fuel and purchased power	1,668			1,758			1,716
Operation and maintenance	1,376			1,429			1,369
Depreciation and amortization	896			822			813
Taxes other than income	260			256			240
Asset (gains) losses and reserves, net	(3		)	(2		)	12
	4,197			4,263			4,150
Operating Income	1,000			1,028			1,002
Other (Income) and Deductions
Interest expense	268			272			289
Interest income	—			(1		)	—
Other income	(54		)	(53		)	(47		)
Other expenses	45			42			56
	259			260			298
Income Before Income Taxes	741			768			704
Income Tax Expense	254			282			267
Net Income	$	487		$	486		$	437

DTE Gas Company

Consolidated Statements of Operations

	Year Ended December 31,
	2013			2012			2011
	(In millions)
Operating Revenues	$	1,448		$	1,293		$	1,483
Operating Expenses
Cost of gas	607			536			729
Operation and maintenance	423			380			390
Depreciation and amortization	95			92			89
Taxes other than income	56			53			53
	1,181			1,061			1,261
Operating Income	267			232			222
Other (Income) and Deductions
Interest expense	58			59			63
Interest income	(7		)	(7		)	(7		)
Other income	(9		)	(9		)	(7		)
Other expenses	7			25			5
	49			68			54
Income Before Income Taxes	218			164			168
Income Tax Expense	77			50			59
Net Income	$	141		$	114		$	109

DTE Energy Debt/Equity Calculation

As of December 31, 2013

($ millions)

Short-term borrowings	$	131
Current portion of long-term debt, including capital leases	898
Mortgage bonds, notes and other	6,618
Securitization bonds, excluding current portion	105
Capital lease obligations	11
Other adjustments	192
less Securitization bonds, including current portion	(302		)
50% Junior Subordinated Debentures	240
Total debt	7,893
50% Junior Subordinated Debentures	240
Common equity	7,954
Total adjusted equity	8,194
Total capitalization	$	16,087
Debt	49.1		%
Adjusted equity	50.9		%
Total	100		%

Sales Analysis - Q4 2013
Electric Sales - DTE Electric Service Area (GWh)					Electric Billings - DTE Electric Service Area (000s)
	Q4 2013	Q4 2012	% Change			Q4 2013		Q4 2012		% Change
Residential	3,673	3,486	5	%	Residential	$	566,727	$	530,776	7	%
Commercial	4,076	4,099	(1	)%	Commercial	455,874		461,966		(1	)%
Industrial	2,557	2,344	9	%	Industrial	197,806		187,118		6	%
Other	241	241	—	%	Other	26,552		26,153		2	%
	10,547	10,170	4	%		$	1,246,959	$	1,206,013	3	%
Choice	1,260	1,258	—	%	Choice	23,704		23,829		(1	)%
TOTAL SALES	11,807	11,428	3	%	TOTAL REVENUES	$	1,270,663	$	1,229,842	3	%

Gas Sales - DTE Gas Service Area (MMcf)					Gas Billings - DTE Gas Service Area (000s)
	Q4 2013	Q4 2012	% Change			Q4 2013		Q4 2012		% Change
Residential	33,756	28,985	16	%	Residential	$	273,728	$	252,950	8	%
Commercial	7,441	6,188	20	%	Commercial	58,572		52,771		11	%
Industrial	160	166	(4	)%	Industrial	1,163		1,290		(10	)%
	41,357	35,339	17	%		$	333,463	$	307,011	9	%
End User Transportation*	45,791	41,829	9	%	End User Transportation*	62,006		60,805		2	%
TOTAL SALES	87,148	77,168	13	%	TOTAL REVENUES	$	395,469	$	367,816	8	%
________________					________________
* Includes choice customers					* Includes choice customers

Weather
Cooling Degree Days							Heating Degree Days
DTE Electric service territory							DTE Gas service territory
	Q4 2013		Q4 2012		% Change			Q4 2013		Q4 2012		% Change
Actuals	—		—		—	%	Actuals	2,427		2,088		16	%
Normal	—		—				Normal	2,187		2,208
Deviation from normal	—	%	—	%			Deviation from normal	11	%	(5	)%

Earnings Impact of Weather
Variance from normal weather ($ millions, after-tax)
	Q4 2013		Q4 2012
DTE Electric	$	5	$	(5	)
DTE Gas	11		(3		)

Sales Analysis - YTD December 31, 2013
Electric Sales - DTE Electric Service Area (GWh)					Electric Billings - DTE Electric Service Area (000s)
	YTD 2013	YTD 2012	% Change			YTD 2013		YTD 2012		% Change
Residential	15,273	15,666	(3	)%	Residential	$	2,350,798	$	2,354,092	—	%
Commercial	16,661	16,832	(1	)%	Commercial	1,883,144		1,897,868		(1	)%
Industrial	10,303	9,989	3	%	Industrial	798,650		783,668		2	%
Other	942	958	(2	)%	Other	107,571		105,863		2	%
	43,179	43,445	(1	)%		$	5,140,163	$	5,141,491	—	%
Choice	5,200	5,197	—	%	Choice	96,735		92,138		5	%
TOTAL SALES	48,379	48,642	(1	)%	TOTAL REVENUES	$	5,236,898	$	5,233,629	—	%

Gas Sales - DTE Gas Service Area (MMcf)					Gas Billings - DTE Gas Service Area (000s)
	YTD 2013	YTD 2012	% Change			YTD 2013		YTD 2012		% Change
Residential	102,176	82,990	23	%	Residential	$	868,176	$	769,446	13	%
Commercial	22,421	18,484	21	%	Commercial	186,338		163,512		14	%
Industrial	575	885	(35	)%	Industrial	4,254		6,966		(39	)%
	125,172	102,359	22	%		$	1,058,768	$	939,924	13	%
End User Transportation*	157,322	156,637	—	%	End User Transportation*	223,668		207,301		8	%
TOTAL SALES	282,494	258,996	9	%	TOTAL REVENUES	$	1,282,436	$	1,147,225	12	%
________________					________________
* Includes choice customers					* Includes choice customers

Weather
Cooling Degree Days							Heating Degree Days
DTE Electric service territory							DTE Gas service territory
	YTD 2013		YTD 2012		% Change			YTD 2013		YTD 2012		% Change
Actuals	865		1,123		(23	)%	Actuals	6,616		5,410		22	%
Normal	803		736				Normal	6,207		6,339
Deviation from normal	8	%	53	%			Deviation from normal	7	%	(15	)%

Earnings Impact of Weather
Variance from normal weather ($ millions, after-tax)
	YTD 2013		YTD 2012
DTE Electric	$	4	$	45
DTE Gas	19		(28		)

DTE Electric Temperature Normal Sales Analysis - YTD December 31, 2013
Temperature Normal Electric Sales - DTE Electric Service Area (GWh)					Temperature Normal Electric Sales - DTE Electric Service Area (Includes Electric Choice) (GWh)
	YTD 2013	YTD 2012	% Change			YTD 2013	YTD 2012	% Change
Residential	15,248	15,061	1	%	Residential	15,249	15,062	1	%
Commercial	16,682	16,428	2	%	Commercial	19,800	19,573	1	%
Industrial	10,305	9,946	4	%	Industrial	12,388	11,909	4	%
Other	942	958	(2	)%	Other	942	958	(2	)%
	43,177	42,393	2	%	TOTAL SALES	48,379	47,502	2	%
Choice	5,202	5,109	2	%
TOTAL SALES	48,379	47,502	2	%

EX-99.3

Year End 2013 Earnings Conference Call February 14, 2014 EXHIBIT 99.3

Safe Harbor Statement 2 The information contained herein is as of the date of this presentation. Many factors may impact forward-looking statements including, but not limited to, the following: impact of regulation by the FERC, MPSC, NRC and other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals or new legislation; impact of electric and natural gas utility restructuring in Michigan, including legislative amendments and Customer Choice programs; economic conditions and population changes in our geographic area resulting in changes in demand, customer conservation and thefts of electricity and natural gas and high levels of uncollectible accounts receivable; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; health, safety, financial, environmental and regulatory risks associated with ownership and operation of nuclear facilities; changes in the cost and availability of coal and other raw materials, purchased power and natural gas; the potential for losses on investments, including nuclear decommissioning and benefit plan assets and the related increases in future expense and contributions; volatility in the short-term natural gas storage markets impacting third- party storage revenues; volatility in commodity markets impacting the results of our energy trading operations; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; the timing and extent of changes in interest rates; the level of borrowings; the potential for increased costs or delays in completion of significant construction projects; changes in and application of federal, state and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings and audits; the effects of weather and other natural phenomena on operations and sales to customers, and purchases from suppliers; unplanned outages; the cost of protecting assets against, or damage due to, terrorism or cyber attacks; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy and other business issues; binding arbitration, litigation and related appeals; and the risks discussed in our public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause our results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward- looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This presentation should also be read in conjunction with the “Forward-Looking Statements” sections in each of DTE Energy’s and DTE Electric’s 2012 Forms 10-K and 2013 Forms 10-Q (which sections are incorporated herein by reference), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric.

Participants • Gerry Anderson – Chairman and CEO • Peter Oleksiak – Senior Vice President and CFO • Anastasia Minor – Executive Director, Investor Relations 3

• 2013 Accomplishments • Long-Term Growth Update • Financial Update 4

The success of our system of priorities continues to create value for investors 5% - 6% Annual EPS Growth Attractive Dividend Strong Balance Sheet 5

2013 Accomplishments • Distinctive Continuous Improvement (CI) capability o O&M expense at 2003 levels o CI program recognized by London Process Excellence Network o Reduced renewable energy surcharge 85% due to operational efficiencies Continuous Improvement Employee Engagement Customer Satisfaction • Higher employee engagement o Seventh consecutive year of improved Gallup scores – moved from 78th to 85th percentile* in 2013 o Received Gallup Great Workplace Award o Achieved best safety record in DTE’s history • Both utilities top quartile in J.D. Power customer satisfaction rankings** • Reduced complaints to the Michigan Public Service Commission (MPSC) by over 60% since 2006 • Incremental $50 million investment in system reliability * Source: 2013 Gallup Overall Company Ranking ** Source: J.D. Power and Associates 2013 Gas/Electric Utility Residential Customer Satisfaction StudySM 6

Financial Growth / Value • DTE Energy 2013 Operating EPS* of $4.09 compared to EPS guidance midpoint of $4.05 • Earned allowed ROE at electric and gas utilities • Increased annual dividend 5.6% to $2.62 per share • Credit upgrade at all 3 rating agencies • Invested over $1.5 billion in the utilities, more than double depreciation levels • Significant progress on non-utility growth platforms o Executed agreement to expand scope of Bluestone gathering o Relocated 7th Reduced Emissions Fuel unit; executed agreement for 8th o Constructed coal to wood renewable project (50 MW) Political / Regulatory • Continuing to play an active role in the review of Michigan’s energy policy • Implemented rate minimization strategy • Spent over $800 million with Michigan companies, exceeding our commitment to Governor Snyder by 30% 2013 Accomplishments (continued) * Reconciliation to GAAP reported earnings included in the appendix 7

• 2013 Accomplishments • Long-Term Growth Update • Financial Update 8

2008A 2009A 2010A 2011A 2012A 2013A 2014E 2015E 2016E 2017E 2018E $3.33 $4.09 $3.75 $3.64 $2.12 $2.24 $2.35 $2.48 $2.12 * Reconciliation to GAAP reported earnings included in the appendix We remain committed to delivering 5% to 6% operating EPS* growth (dollars) Operating EPS* 7.2% CAGR 2008-2014 Dividend per share 5.4% CAGR 2009-2013 (Annualized) $2.83 $3.94 $4.30 Guidance Midpoint Aspiration of over $1 billion in operating earnings by 2018 $2.62 9

DTE Energy has many catalysts for strong future growth opportunities Constructive REGULATORY environment Michigan’s economic recovery Long-term non-utility growth Long-term utility growth 10

Our electric utility is investing $6.7 billion in three key growth areas through 2018 • Environmental requirements • $280 million in 2014 • Power plant reliability • Expanded distribution reliability program • Advanced Metering Infrastructure • $1.1 billion in 2014 • 10% renewable energy standard by 2015 • $240 million in 2014 • Renewal of generation asset base Base Infrastructure $5.6 billion Generation Compliance $700 million New Generation $400 million Targeting 5% - 6% growth; average annual investment $1.3 billion 11

Our gas utility is making $1.2 billion of reliability and pipeline integrity investments through 2018 • Capital recovered through the Infrastructure Recovery Mechanism • ~4,000 miles of distribution main to be replaced • $90 million investment in 2014 • Strengthen and expand distribution system • Continued long-term investment in infrastructure • $150 million investment in 2014 Targeting 5% - 6% growth Main Renewal, Meter Move-Out & Pipeline Integrity $500 million Base Infrastructure $700 million 12

Upward pressure on customer rates being minimized by cost control initiatives and surcharge reductions Lower Surcharges Structural Cost Reductions Continuous Improvement Reliability Investments Cost Pressure Environmental Investments Customer Rates  $650 million of surcharge reductions  Targeting to stay close to rate neutral though 2018 DTE Electric  ~3 year rate case stay out strategy Rate increases below inflation levels DTE Gas 13

Gas Storage & Pipelines is developing an asset portfolio with multiple growth platforms Pipeline Gathering Storage 14

Gas Storage & Pipelines has a portfolio of investment opportunities that drive earnings growth • Bluestone lateral expansion • Millennium expansion II Continued build-out of Bluestone gathering • New project development ‒ NEXUS ‒ other gathering and pipeline expansions • Millennium expansion III 2014 2018 $1.0 - $1.4 billion investment 15

2012A 2013A 2014E 2015E 2016E 2017E 2018E $78 - $86 Gas Storage & Pipelines operating earnings* potential of $130 million by 2018 * Reconciliation to GAAP reported earnings included in the appendix (millions) Pipeline Platform Gathering Platform Storage Platform New Project Development $1.0 - $1.3 billion investment $70 ~$130 $40 $45 $20 $25 $1.0 - $1.4 billion investment** 16 $61 ** 2014-2018 forecast

Power & Industrial Projects is focused in three key businesses lines Wood-fired Plant Cassville, WI • Fuel that reduces emissions from coal-fired plants • 9 units, 5 states • Utility contracted • Utility services at industrial sites • Coke and pulverized coal for steel customers • 37 projects, 11 states • Wood-fired power plants • Landfill gas to energy projects • 25 projects, 11 states • Primarily utility contracted Targeting ~20% Growth with 10% to 15% ROIC Industrial Energy Services On-site Energy Project Renewable Energy Wood-fired Plant Reduced Emissions Fuel Reduced Emissions Fuel Plant 17

2012A 2013A 2014E 2015E 2016E 2017E 2018E Power & Industrial Projects is targeting $155 million of operating earnings* by 2018 through growth in each of its business lines ~$155 (millions) $35 $70 $85 ($65) $30 $70 New Project Development / Acquisitions Renewable Energy Reduced Emissions Fuel Industrial Energy Services Corporate allocations, interest, overheads $75 - $85 $600 - $800 million investment** 18 $52 * Reconciliation to GAAP reported earnings included in the appendix ** 2014-2018 forecast

• 2013 Accomplishments • Long-Term Growth Update • Financial Update 19

DTE Energy 2013 Operating Earnings Per Share* Gas Storage & Pipelines $0.40 Power & Industrial Projects $0.40 * Reconciliation to GAAP reported earnings included in the appendix Energy Trading ($0.02) Corporate & Other ($0.25) DTE Gas $0.80 Non-Utility $0.78 DTE Electric $2.76 $4.09 20

DTE Electric 483$ 484$ 1$ DTE Gas 115 143 28 Gas Storage & Pipelines 61 70 9 Power & Industrial Projects 52 70 18 Energy Trading 12 (3) (15) Corporate & Other (47) (44) 3 DTE Energy 676$ 720$ 44$ Operating EPS 3.94$ 4.09$ 0.15$ Avg. Shares Outstanding 172 175 DTE Energy 2013 Operating Earnings Variance Operating Earnings* (millions, except EPS) 2012 2013 Change * Reconciliation to GAAP reported earnings included in the appendix DTE Electric • Return to near normal weather in 2013 and higher storm expense, offset by lower benefits expense and increased temperature normal sales volumes DTE Gas • Higher due to colder weather in 2013 Non-Utility • Gas Storage & Pipelines driven by growth across the pipeline platforms, partially offset by lower storage earni gs • Power & Industrial Projects higher due to earnings for Reduced Emissions Fuel and on-site energy project portfolio acquisition in 4Q 2012 • Energy Trading lower due to timing related items Corporate & Other • Favorable due to lower taxes and interest expense Drivers 21

Energy Trading mark-to-market (MTM) operating earnings adjustment is timing related and will substantially reverse in 2014 (millions) * Subject to changes in market prices ** Majority of 2014 reversal occurs in 1Q 22 MTM timing reverses when contracts settle* • Operating adjustment pertains to pipeline contracts in the Northeast that are economically hedged • The accounting for these transactions requires two of the three components to be marked-to-market causing a misalignment during a period of sharp natural gas price increases • Over the life of these multi-year transactions, cash, economic income and accounting income are equivalent $55 2013 MTM Operating Adjustment 2014 Reversal** 2015 Reversal ($40) ($15) Producer Pipeline Customer Mark-to- market No mark-to- market Mark-to- market Components of natural gas sale transaction

We are raising our 2014 operating EPS* guidance from our previous early outlook 2014 Guidance Drivers 2014 Early Outlook* (millions, except EPS) DTE Electric $484 $515 - $525 DTE Gas 143 120 - 126 Gas Storage & Pipelines 70 76 - 84 Power & Industrial Projects 70 75 - 85 Energy Trading (3) 5 - 15 Corporate & Other (44) (49) DTE Energy Operating EPS* Avg. Shares Outstanding $720 $4.09 175 $742 - $786 $4.15 - $4.39 179 $744 - $782 $4.20 - $4.40 177 * Reconciliation to GAAP reported earnings included in the appendix • Commodity market dynamics and business mix 2013 Actuals* 2014 Guidance* $520 - $530 120 - 126 78 - 86 75 - 85 0 (49) – (45) • Benefits favorability due to changes in discount rate • Continued pipeline and gathering development   • Lower taxes and interest expense • Targeting zero equity issuances 23

2012 2013 Cash From Operations* $2.2 $2.2 Capital Spending (2.1) (1.9) Free Cash Flow $0.1 $0.3 Asset Sales 0.3 - Dividends (0.4) (0.4) Net Cash $0.0 ($0.1) Debt Financing: Issuances $0.8 $1.2 Redemptions (0.8) (1.1) Change in Debt $0.0 $0.1 DTE Energy 2013 Cash Flow Actuals Cash Flow Summary (billions) • 2013 cash from operations favorable to guidance by $300 million • Reduced capital spending due to on-site energy project portfolio acquisition in 2012 • Unconventional Gas business sale in 2012 Drivers * Includes ~$0.2 billion and ~$0.3 billion of equity issued for employee benefit programs in 2012 and 2013, respectively 24

2013 2014 Actual Guidance Cash From Operations* $2.2 $1.6 Capital Spending (1.9) (2.3) Free Cash Flow $0.3 ($0.7) Asset Sales - - Dividends (0.4) (0.5) Net Cash ($0.1) ($1.2) Debt Financing: Issuances $1.2 $2.1 Redemptions (1.1) (0.9) Change in Debt $0.1 $1.2 DTE Energy 2014 Cash Flow Guidance Cash Flow Summary (billions) * Includes ~$0.3 billion and $0 of equity issued for employee benefit programs in 2013 and 2014, respectively • 2014 cash from operations decreases due to lower utility surcharge collections than 2013 and higher cash contributions to employee benefit plans • Capital expenditures higher due to increased environmental and renewable energy spending at DTE Electric and growth spending at the non-utilities Drivers 25

2013 2014E * Debt excludes securitization, a portion of DTE Gas’ short-term debt, and considers 50% of the Junior Subordinated Notes as equity Leverage* Funds from Operations / Debt* 2013 2014E 49% 52% Target 50% - 52% 23% 22% Target 20% - 22% Strong balance sheet remains a key priority and supports growth • Targeting zero equity issuances in 2014 – Annual issuances of $200 million to $300 million in 2015 and 2016 • $1.6 billion of available liquidity as of December 31, 2013 • Recent credit upgrades by all 3 rating agencies – Moody’s upgraded DTE in January 2014 26

Our business strategy is fundamental to how we create value for our investors  Utility growth plan driven by environmental and renewable energy investments  Meaningful, transparent, low-risk growth opportunities in non-utility businesses provide diversity in earnings and geography  Constructive regulatory structure and continued cost savings enable utilities to earn their authorized returns  Program in place to achieve operational excellence and customer satisfaction that are distinctive in our industry  Maintain 60% - 70% dividend payout target and strong BBB credit rating 5% - 6% Annual EPS Growth Attractive Dividend Strong Balance Sheet 27

Contact Us DTE Energy Investor Relations www.dteenergy.com/investors (313) 235-8030 28

Appendix

DTE Electric Variance Analysis * Reconciliation to GAAP reported earnings included in the appendix $483 ($41) (millions) ($26) $18 Drivers Operating Earnings* Variance $484 • Return to near normal weather in 2013 Variance to normal weather - 2012: $45 - 2013: $ 4 • Other margin driven by increased temperature normal sales volumes • Renewables driven by incremental investments • Lower benefits expense due to plan design changes • O&M driven by higher storm and reinvestment expense • Other primarily higher depreciation and property tax expense $56 ($6) 30

DTE Gas Variance Analysis * Reconciliation to GAAP reported earnings included in the appendix $115 (millions) • Colder than normal weather in 2013 Variance to normal weather - 2012: ($28) - 2013: $17 • Lower benefits expense due to plan design changes • One-time items include 2012 lean initiatives and 2Q 2012 revenue decoupler true-up • O&M reinvestment in gas distribution reliability projects; other includes higher depreciation and property tax expense $143 Drivers Operating Earnings* Variance $45 ($19) ($10) $12 31

DTE Energy 2014 Capital Expenditure Guidance 2013 2014 Actual Guidance DTE Electric Operational $999 $1,080 Environmental 165 280 Renewable Energy 161 240 $1,325 $1,600 DTE Gas Operational $132 $150 Main Renewal / Meter Move-out / Pipeline Integrity 77 90 $209 $240 $366 $490 Total $1,900 $2,330 Non-Utility Capital Expenditures Summary (millions) • DTE Electric capital higher due to increased environmental, renewable energy, and reliability spending • DTE Gas increase driven by increased main renewal, meter move-out, pipeline integrity and base capital spending • Non-utility increase driven by growth capital spending at Power & Industrial Projects and Gas Storage & Pipelines Drivers 32

Utility rate strategies minimize new rate filings and their impacts on our customers DTE Electric DTE Gas • Periodic rate cases to support investment profile • File mid-2014; self-implement early 2015 • Targeting to stay as close to rate neutral as possible through 2018 (vs. 2013) • ~$300 million surcharge* reduction implemented Q1 2014 • ~$350 million securitization surcharge reduction in Q1 2015 • Infrastructure Recovery Mechanism provides recovery of investments • Anticipate we can stay out of new rate filings for ~3 years • Targeting <2% average annual rate increase * Renewable energy, power supply cost recovery (PSCR) and choice incentive mechanisms 33

Bluestone Pipeline • 0.6 Bcf/d to Millennium and Tennessee pipelines; 0.3 Bcf/d expansion in 2014 Millennium Pipeline • 1Q 2014 0.3 Bcf/d expansion; total capacity over 0.8 Bcf/d Vector Pipeline • 1.3 Bcf/d from Chicago to Dawn, Ontario Proposed NEXUS Pipeline • 1 Bcf/d from western Marcellus and central / northern Utica shale Bluestone Gathering • Long-term agreement with Southwestern in Marcellus shale Michigan Gathering • Lateral additions ongoing New Developments • Working with interested parties in Marcellus, Utica and Michigan shales Gas Storage & Pipelines platforms drive growth through new projects and expansions Pipeline Platform Bluestone Pipeline Targeting 10% to 15% Growth with 10% to 12% ROIC Michigan Storage • 91 Bcf of working capacity • Strategically located between Chicago and Dawn trading hubs Bluestone Gathering Gathering Platform Washington 10 Storage Platform 34

Pipeline Assets Capacity / d In-Service Millennium Pipeline 0.5 Bcf Expansion #1 and #2 0.3 Bcf 2014 Expansion #3 0.2 - 0.5 Bcf 2016 - 2017 Total Planned Capacity 1.0 - 1.3 Bcf Bluestone Pipeline (bi-directional) 0.6 Bcf Northward Expansion 0.3 Bcf 2014 Total Planned Capacity 0.9 Bcf Vector Pipeline 1.3 Bcf NEXUS-related Expansion TBD 2017+ Total Planned Capacity 1.3 Bcf + Proposed NEXUS Pipeline 1.0 Bcf 2017 Gas Storage & Pipelines assets have expansion opportunities to accommodate increased demand 35

DTE Energy Trading Reconciliation of Operating Earnings* to Economic Net Income ** Consists of 1) the income statement effect of not recognizing changes in the fair market value of certain non-derivative contracts including physical inventory and capacity contracts for transportation, transmission and storage. These contracts are not MTM, instead are recognized for accounting purposes on an accrual basis; and 2) Operating Adjustments for unrealized mark-to-market changes of certain derivative contracts in our Gas Structured contracts 2013 Economic Net Income Accounting Adjustments** 2013 Operating Earnings* $12 $33 • Economic net income equals economic gross margin*** minus O&M expenses and taxes. • DTE Energy management uses economic net income as one of the performance measures for external communications with analysts and investors. • Internally, DTE Energy uses economic net income as one of the measures to review performance against financial targets and budget. * Reconciliation to GAAP reported earnings included in the appendix *** Economic gross margin is the change in net fair value of realized and unrealized purchase and sale contracts including certain non-derivative contract costs Operating Earnings* Realized Unrealized O&M / Other 2012 2013 $57 $61 (13) 5 (50) (51) (millions, after-tax) $12 ($3) 2012 Operating Earnings* 2012 Economic Net Income Accounting Adjustments** $21 ($3) $24 $21 ($ millions) 36

2013 Reconciliation of Reported to Operating Earnings Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. 2013 DTE Energy DTE Electric DTE Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reported Earnings 3.76$ 2.76$ 0.80$ 0.40$ 0.38$ (0.33)$ (0.25)$ Asset impairment 0.02 - - - 0.02 - - Mark to market transactions 0.31 - - - - 0.31 - Operating Earnings 4.09$ 2.76$ 0.80$ 0.40$ 0.40$ (0.02)$ (0.25)$ EPS 2013 DTE Energy DTE Electric DTE Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Reported Earnings 661$ 484$ 143$ 70$ 66$ (58)$ (44)$ Asset impairment 4 - - - 4 - - Mark to market transactions 55 - - - - 55 - Operating Earnings 720$ 484$ 143$ 70$ 70$ (3)$ (44)$ Net Income ($ millions) 37

2012 Reconciliation of Reported to Operating Earnings 2012 DTE Energy DTE Electric DTE Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Unconventional Gas Reported Earnings 610$ 483$ 115$ 61$ 42$ 12$ (47)$ (56)$ Coke oven gas settlement 7 - - - 7 - - - Chicago Fuels Terminal Sale 2 - - - 2 - - - Pet coke mill impairment 1 - - - 1 - - - Discontinued operations 56 - - - - - - 56 Operating Earnings 676$ 483$ 115$ 61$ 52$ 12$ (47)$ -$ Net Income ($ millions) 2012 DTE Energy DTE Electric DTE Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading Corporate and Other Unconventional Gas Reported Earnings 3.55$ 2.81$ 0.67$ 0.36$ 0.24$ 0.07$ (0.27)$ (0.33)$ Coke oven gas settlement 0.04 - - - 0.04 - - - Chicago Fuels Terminal Sale 0.01 - - - 0.01 - - - Pet coke mill impairment 0.01 - - - 0.01 - - - Discontinued operations 0.33 - - - - - - 0.33 Operating Earnings 3.94$ 2.81$ 0.67$ 0.36$ 0.30$ 0.07$ (0.27)$ -$ EPS Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. 38

2011 Reconciliation of Reported to Operating Earnings 2011 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. Reported Earnings 711$ 434$ 110$ 57$ 38$ 52$ 23$ (3)$ Michigan Corporate Income Tax Adjustment (87) - - - - - (87) - Fermi 1 Asset Retirement Obligation 9 9 - - - - - - Discontinued Operations of Unconventional Gas 3 - - - - - - 3 Operating Earnings 636$ 443$ 110$ 57$ 38$ 52$ (64)$ -$ Net Income ($ millions) 2011 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. Repor ed Earnings 4.18 2.55 0.65 0.34 0.22 0.31 0.13 (0.02) Michigan Corporate Income Tax Adjustment (0.50) - - - - - (0.50) - Fermi 1 Asset Retirement Obligation 0.05 0.05 - - - - - - Discontinued Operations of Unconventional Gas 0.02 - - - - - - 0.02 Operating Earnings 3.75$ 2.60$ 0.65$ 0.34$ 0.22$ 0.31$ (0.37)$ -$ $EPS Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. 39

2010 Reconciliation of Reported to Operating Earnings * Deferral of previously expensed cost to achieve as allowed for in June 3, 2010 MPSC order (case - U-15985) 2010 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. eported Earnings 630$ 441$ 127$ 51$ 85$ 6$ (72)$ (8)$ Performance Excellence Process - Cost to Achieve Deferral* (20) - (20) - - - - - Settlement with Detroit Thermal (3) (3) - - - - - - Discontinued Operations of Unconventional Gas 8 - - - - - - 8 Operating Earnings 615$ 438$ 107$ 51$ 85$ 6$ (72)$ -$ Net Income ($ millions) 2010 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. Reported Earnings 3.74$ 2.62$ 0.75$ 0.30$ 0.50$ 0.04$ (0.43)$ (0.04)$ P rformance Excellence Process - Cost to Achieve Deferral* (0.12) - (0.12) - - - - - Settlement with Detroit Thermal (0.02) (0.02) - - - - - - Discontinued Operations of Unconventional Gas 0.04 - - - - - - 0.04 Operating Earnings 3.64$ 2.60$ 0.63$ 0.30$ 0.50$ 0.04$ (0.43)$ -$ $EPS Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. 40

2009 Reconciliation of Reported to Operating Earnings 2009 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. Reported Earnings 532$ 376$ 80$ 49$ 31$ 75$ (73)$ (6)$ Gain on Sale - gathering and treating assets (before goodwill allocation) (13) - (13) - - - - - Goodwill allocation - gathering and treating assets 13 - 13 - - - - - Chrysler Bad Debt 5 4 - - 1 - - - General Motors Bad Debt 3 - - - 3 - - - Antrim Hedge 3 - - - - - 3 - Discontinued Operations of Unconventional Gas 6 - - - - - - 6 Operating Earnings 549$ 380$ 80$ 49$ 35$ 75$ (70)$ -$ Net Income ($ millions) 2009 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. Reported Earnings 3.24$ 2.28$ 0.49$ 0.30$ 0.19$ 0.46$ (0.45)$ (0.03)$ Gain on Sale - ga hering and treating assets (b fore go dwill allocation) (0.08) - (0.08) - - - - - Goodwill allocation - gathering and treating assets 0.08 - 0.08 - - - - - Chrysler B d Debt 0.03 0.02 - - 0.01 - - - General Motors Bad Debt 0.02 - - - 0.02 - - - Antrim Hedge 0.01 - - - - - 0.01 - Discontinued Operations of Unconventional Gas 0.03 - - - - - - 0.03 Operating Earnings 3.33$ 2.30$ 0.49$ 0.30$ 0.22$ 0.46$ (0.44)$ -$ $EPS Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. 41

2008 Reconciliation of Reported to Operating Earnings 2008 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. Syn Fuel Reported Earnings 546$ 331$ 85$ 38$ 40$ 42$ (97)$ 87$ 20$ Performance Excellence Process 6 - 4 - 1 1 - - - Core Barnett Sale (81) - - - - - - (81) - Antrim hedge 13 - - - - - 13 - - Barnett Lease impairment 5 - - - - - - 5 - Crete Sale - Tax True up 2 - - - - - 2 - - Synfuel Discontinued Operations (20) - - - - - - - (20) Discontinued Operations of Unconventional Gas (11) - - - - - - (11) - Operating Earnings 460$ 331$ 89$ 38$ 41$ 43$ (82)$ -$ -$ Net Income ($ millions) 2008 DTE Energy DTE Electric DTE Gas Gas Storage & Pipelines Power & Indust. Projects Energy Trading Corporate & Other Unc. Gas Prod. Syn Fuel Reported Earnings 3.34$ 2.03$ 0.52$ 0.23$ 0.25$ 0.26$ (0.60)$ 0.53$ 0.12$ Perform nce E cellence Process 0.05 - 0.03 - 0.01 0.01 - - - Core Barnett Sale (0.50) - - - - - - (0.50) - Antrim hedge 0.08 - - - - - 0.08 - - Barnett Lease impairment 0.03 - - - - - - 0.03 - Crete Sale - Tax True up 0.01 - - - - - 0.01 - - Synfuel Discontinued Operations (0.12) - - - - - - - (0.12) Discontinued Operations of Unconventional Gas (0.06) - - - - - - (0.06) - Operating Earnings 2.83$ 2.03$ 0.55$ 0.23$ 0.26$ 0.27$ (0.51)$ -$ -$ $EPS Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with a alysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. 42

Reconciliation of Other Reported to Operating Earnings Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. In this presentation, DTE Energy provides guidance for future period operating earnings. It is likely that certain items that impact the company’s future period reported results will be excluded from operating results. A reconciliation to the comparable future period reported earnings is not provided because it is not possible to provide a reliable forecast of specific line items. These items may fluctuate significantly from period to period and may have a significant impact on reported earnings. For comparative purposes, 2008 through 2012 operating earnings exclude the Unconventional Gas Production segment that was classified as a discontinued operation on 12/31/2012. 43