EX-99.2 3 exhibit992.htm EXHIBIT 99,2 Exhibit 99.2
EXHIBIT 99.2








DTE Energy Debt/Equity Calculation
As of June 30, 2014
($ millions)

Short-term borrowings
$
511

Current portion of long-term debt, including capital leases
229

Mortgage bonds, notes and other
7,329

Capital lease obligations
4

Other adjustments
256

less Securitization bonds, including current portion
(201
)
50% Junior Subordinated Debentures
240

Total debt
8,368

 
 
50% Junior Subordinated Debentures
240

Common equity
8,026

Total adjusted equity
8,266

 
 
Total capitalization
$
16,634

 
 
Debt
50.3
%
Adjusted equity
49.7
%
 
 
Total
100
%





Sales Analysis - Q2 2014
 
 
 
Electric Sales - DTE Electric Service Area (GWh)
 
Electric Billings - DTE Electric Service Area (000s)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Q2 2014
 
Q2 2013
 
% Change
 
 
Q2 2014
 
Q2 2013
 
% Change
Residential
3,452

 
3,345

 
3
 %
 
Residential
$
504,164

 
$
532,433

 
(5
)%
Commercial
4,168

 
4,158

 
—
 %
 
Commercial
441,828

 
477,319

 
(7
)%
Industrial
2,554

 
2,675

 
(5
)%
 
Industrial
192,527

 
210,984

 
(9
)%
Other
171

 
216

 
(21
)%
 
Other
22,896

 
26,870

 
(15
)%
 
10,345

 
10,394

 
0
 %
 
 
$
1,161,415

 
$
1,247,606

 
(7
)%
Choice
1,237

 
1,287

 
(4
)%
 
Choice
23,079

 
24,222

 
(5
)%
TOTAL SALES
11,582

 
11,681

 
(1
)%
 
TOTAL BILLINGS
$
1,184,494

 
$
1,271,828

 
(7
)%

Gas Sales - DTE Gas Service Area (MMcf)
 
Gas Billings - DTE Gas Service Area (000s)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Q2 2014
 
Q2 2013
 
% Change
 
 
Q2 2014
 
Q2 2013
 
% Change
Residential
13,588

 
14,192

 
(4
)%
 
Residential
$
127,152

 
$
137,548

 
(8
)%
Commercial
3,199

 
3,024

 
6
 %
 
Commercial
28,046

 
28,406

 
(1
)%
Industrial
145

 
85

 
71
 %
 
Industrial
1,028

 
637

 
61
 %
 
16,932

 
17,301

 
(2
)%
 
 
$
156,226

 
$
166,591

 
(6
)%
End User Transportation*
31,523

 
32,043

 
(2
)%
 
End User Transportation*
43,495

 
44,637

 
(3
)%
TOTAL SALES
48,455

 
49,344

 
(2
)%
 
TOTAL BILLINGS
$
199,721

 
$
211,228

 
(5
)%
________________
 
 
 
 
 
 
________________
 
 
 
 
 
* Includes choice customers
 
 
 
 
 
 
* Includes choice customers
 
 
 
 
 

Weather
 
 
 
 
 
 
 
 
 
 
 
 
 
Cooling Degree Days
 
 
 
 
 
 
Heating Degree Days
 
 
 
 
 
DTE Electric service territory
 
 
 
 
 
 
DTE Gas service territory
 
 
 
 
 
 
Q2 2014
 
Q2 2013
 
% Change
 
 
Q2 2014
 
Q2 2013
 
% Change
Actuals**
240

 
205

 
17
%
 
Actuals
780

 
818

 
(5
)%
Normal
215

 
215

 
—
%
 
Normal
774

 
757

 
2
 %
Deviation from normal
12
%
 
(5
)%
 
 
 
Deviation from normal
1
%
 
8
%
 
 

Earnings Impact of Weather
Variance from normal weather ($ millions, after-tax)
 
Q2 2014
 
Q2 2013
DTE Electric
$
3

 
$
(2
)
DTE Gas
1

 
4



**2013 CDDs adjusted/normalized to reflect actual customer response to weather; AMI usage data demonstrates non-linear response to weather variation








Sales Analysis - YTD June 30, 2014
 
 
 
Electric Sales - DTE Electric Service Area (GWh)
 
Electric Billings - DTE Electric Service Area (000s)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
YTD 2014
 
YTD 2013
 
% Change
 
 
YTD 2014
 
YTD 2013
 
% Change
Residential
7,430

 
7,199

 
3
 %
 
Residential
$
1,078,837

 
$
1,111,169

 
(3
)%
Commercial
8,216

 
8,081

 
2
 %
 
Commercial
865,403

 
918,748

 
(6
)%
Industrial
5,055

 
5,111

 
(1
)%
 
Industrial
391,554

 
397,238

 
(1
)%
Other
376

 
468

 
(20
)%
 
Other
45,756

 
53,334

 
(14
)%
 
21,077

 
20,859

 
1
 %
 
 
$
2,381,550

 
$
2,480,489

 
(4
)%
Choice
2,504

 
2,547

 
(2
)%
 
Choice
46,498

 
47,242

 
(2
)%
TOTAL SALES
23,581

 
23,406

 
1
 %
 
TOTAL BILLINGS
$
2,428,048

 
$
2,527,731

 
(4
)%

Gas Sales - DTE Gas Service Area (MMcf)
 
Gas Billings - DTE Gas Service Area (000s)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
YTD 2014
 
YTD 2013
 
% Change
 
 
YTD 2014
 
YTD 2013
 
% Change
Residential
69,017

 
59,749

 
16
%
 
Residential
$
565,162

 
$
507,531

 
11
%
Commercial
16,450

 
13,683

 
20
%
 
Commercial
130,747

 
113,142

 
16
%
Industrial
620

 
302

 
105
%
 
Industrial
7,089

 
2,274

 
212
%
 
86,087

 
73,734

 
17
%
 
 
$
702,998

 
$
622,947

 
13
%
End User Transportation*
93,986

 
87,607

 
7
%
 
End User Transportation*
140,156

 
129,798

 
8
%
TOTAL SALES
180,073

 
161,341

 
12
%
 
TOTAL BILLINGS
$
843,154

 
$
752,745

 
12
%
________________
 
 
 
 
 
 
________________
 
 
 
 
 
* Includes choice customers
 
 
 
 
 
 
* Includes choice customers
 
 
 
 
 

Weather
 
 
 
 
 
 
 
 
 
 
 
 
 
Cooling Degree Days
 
 
 
 
 
 
Heating Degree Days
 
 
 
 
 
DTE Electric service territory
 
 
 
 
 
 
DTE Gas service territory
 
 
 
 
 
 
YTD 2014
 
YTD 2013
 
% Change
 
 
YTD 2014
 
YTD 2013
 
% Change
Actuals
240

 
205

 
17
%
 
Actuals
4,757

 
4,046

 
18
%
Normal
215

 
215

 
—
%
 
Normal
3,949

 
3,898

 
1
%
Deviation from normal
12
%
 
(5
)%
 
 
 
Deviation from normal
20
%
 
4
%
 
 

Earnings Impact of Weather
Variance from normal weather ($ millions, after-tax)
 
YTD 2014
 
YTD 2013
DTE Electric
$
16

 
$
(2
)
DTE Gas
32

 
7



**2013 CDDs adjusted/normalized to reflect actual customer response to weather; AMI usage data demonstrates non-linear response to weather variation







DTE Electric Temperature Normal Sales Analysis - YTD June 30, 2014
 
Temperature Normal Electric Sales - DTE Electric
Service Area (GWh)
 
 
 
 
 
 
 
YTD 2014
 
YTD 2013
 
% Change
Residential
7,176

 
7,224

 
(1
)%
Commercial
8,133

 
8,091

 
1
 %
Industrial
5,053

 
5,111

 
(1
)%
Other
377

 
469

 
(20
)%
 
20,739

 
20,895

 
(1
)%
Choice
2,489

 
2,547

 
(2
)%
TOTAL SALES
23,228

 
23,442

 
(1
)%

Temperature Normal Electric Sales - DTE Electric
Service Area (Includes Electric Choice) (GWh)
 
 
 
 
 
 
 
YTD 2014
 
YTD 2013
 
% Change
Residential
7,176

 
7,224

 
(1
)%
Commercial
9,618

 
9,576

 
—
 %
Industrial
6,057

 
6,173

 
(2
)%
Other
377

 
469

 
(20
)%
TOTAL SALES
23,228

 
23,442

 
(1
)%